What is the current size and annual growth rate of the polystyrene-plastic material and resins market?
The polystyrene-plastic material and resins market size has grown rapidly in recent years. It will grow from $52.81 billion in 2024 to $60.72 billion in 2025 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to packaging industry, construction and insulation, consumer goods and electronics, food service industry.
The polystyrene-plastic material and resins market size is expected to see rapid growth in the next few years. It will grow to $98.4 billion in 2029 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to sustainability and recycling, circular economy initiatives, construction and infrastructure development, consumer goods and electronics innovation. Major trends in the forecast period include.
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Which major factors have contributed to the expansion of the polystyrene-plastic material and resins market?
The demand for packaged products has increased recently, particularly in emerging economies such as China and India. As the size of the middle-class grew in these countries, the consumption of processed foods, poultry, meat, and agricultural products increased. According to the trade economy, the Gross Domestic Product per capita in China was $10430.73 US dollars. For instance, in May 2024, according to the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, global GDP growth is projected to remain steady at 3.1% in 2024, matching the rate from 2023, with a slight increase to 3.2% anticipated in 2025. The increase in per-capita income in these economies resulted in the emerging middle-class purchasing more packaged goods. The demand for packaged goods increased the consumption of polystyrene for their packaging, driving the market.
How is the polystyrene-plastic material and resins market segmented?
The polystyrene-plastic material and resins market covered in this report is segmented –
1) By Product Type: Expandable Polystyrene (EPS), General-Purpose Polystyrene (GPPS), High-Impact Polystyrene (HIPS), Extruded Polystyrene (XPS)
2) By Application: HVAC Insulation, Rigid Packaging, Seating, Flexible Packaging
3) By End User Industry: Automotive Industry, Electronics, Thermal Insulation Industries, Pharmaceuticals, Consumer Industry, Packaging Industry, Construction Industry
Subsegments:
1) By Expandable Polystyrene (EPS): Food Packaging, Insulation, Medical Packaging, Others
2) By General-Purpose Polystyrene (GPPS): Consumer Goods, Electronics, Packaging, Automotive Components, Others
3) By High-Impact Polystyrene (HIPS): Food Packaging, Disposable Tableware, Toys And Games, Automotive Components, Others
4) By Extruded Polystyrene (XPS): Insulation, Packaging, Construction Applications, Others
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Who are the top competitors in the polystyrene-plastic material and resins market?
Major companies operating in the polystyrene-plastic material and resins market include A.Schulman Inc., ACH Foam Technologies Inc., Alpek SAB de CV, Americas Styrenics LLC, Atlas Roofing Corporation, Austrotherm GmbH, BASF SE, BEWiSynbra Group AB, CHIMEI Corporation, DuPont de Nemours, Inc., Flint Hills Resources LLC, Formosa Chemicals & Fibre Corporation, Formosa Plastic Corporation, HIRSCH Servo AG, INEOS Styrolution Group GmbH, Kaneka Corporation, Knauf Gips KG, Korea Kumho Petrochemical Co. Ltd., LG Chem Ltd., Loyal Group, NexKemia Petrochemicals Inc., NOVA Chemicals Corporation, Owens Corning Inc., Penoplex SPB LLC, Ravago SA, Saudi Arabia’s Basic Industries Corporation, Saint-Gobain Isover SA, RTP Company Inc., Colour Image Plastic Compound Sdn Bhd, Cossa Polimeri S.r.L., CRP Technology, Denka Company Limited
What are the top industry trends projected to impact the polystyrene-plastic material and resins market?
The construction and packaging sectors in developing countries are increasingly using Expanded Polystyrene (EPS). EPS provides design and structural cohesion to construction projects and possesses the physical and mechanical properties required for insulation. It is mostly used in the construction sector due to its properties of closed air, low thermal conductivity, low water absorption, lightweight, mechanical resistance, and sound resistance. EPS offers sound weight and volume performances compared to other building materials, making construction simple.
What are the major regional insights for the polystyrene-plastic material and resins market, and which region holds the top position?
Asia-Pacific was the largest region in the polystyrene market in 2023. North America was the second-largest region in the global polystyrene market. The regions covered in the polystyrene-plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Polystyrene-Plastic Material And Resins Market Report 2025 Offer?
The polystyrene-plastic material and resins market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Polystyrene is a synthetic thermoplastic material formed by polymerizing styrene. It is used in modelled products, foams, and sheet materials. Polystyrene can be melted at higher temperature for molding or extrusion, and then be re-solidified, in addition to being generally a solid thermoplastic.
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