The global polystyrene market is expected to reach USD 36.23 Billion by 2028, according to a new report by Reports and Data. Polystyrene is produced by the polymerization of styrene, a building block material having widespread usage in producing various kinds of plastic products.

Blocks made of polystyrene are implemented in the construction of buildings for providing permanent insulation for walls of buildings along with the roofs and floors. The distinctive feature of stacking and then filling the forms with concrete, of these blocks, allow for faster and cheaper construction of buildings (including residential, commercial, and industrial construction projects) as compared to typical brick and mortar buildings. Moreover, the block system aids in saving labor and time consumed in the completion of the project and the total construction costs.

Top Companies Operating in the Global Polystyrene Market:

BASF SE, Versalis SPA, SABIC, Synthos SA, Kaneka Corporation, The Ravago Group, LG Chem, Formosa Chemicals Fibers Corp., Ineos Styrolution Group GmbH, and Trinseol.

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Further key findings from the report suggest

• By forms, atactic polystyrene contributed to the largest market size in 2018. This form of polystyrene is an essential product for commercial use. It has a glass transition temperature of more than 100 ºC allowing it to be used in a variety of applications.
• By resin type, high impact polystyrene (HIPS) held the largest market share in 2018 and is likely to grow at a rate of 3.0% in the forecast period. HIPS is resistant to cracks and finds usage in injection molding. Also, these kinds of resins have good dimensional stability and low cost. It is easy to paint and glue and is deployed for housing and covers, printed graphics, low-strength structural components, models and prototypes, and fixtures, among others.
• Polystyrene is extensively used to manufacture sheets, which are used for making displays, prototypes, signs, models, enclosures and more. These sheets are low-cost material and are used for several general-purpose uses.
• The market in the Asia Pacific region dominated the market in 2018 and is likely to witness a growth rate of 4.1% in the period 2019-2026. The market dominance of the Asia Pacific region is owing to the growth of the construction industry in the region. Moreover, the high demand for packaging materials from the rapidly growing e-commerce sector is causative in the growth of the market in the region.

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Polystyrene Market Segmentation

Forms Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• Atactic Polystyrene
• Syndiotactic Polystyrene

Resin Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• General Purpose Polystyrene (GPPS)
• High Impact Polystyrene (HIPS)
• Expanded Polystyrene (EPS)

Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• Sheets
• Foams

Industry Vertical Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

• Packaging
• Consumer Goods
• Electrical Electronics
• Construction
• Others

The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.

The Polystyrene market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Polystyrene market.

The global Polystyrene market is segmented into:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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