Polystyrene-Plastic Material And Resins Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

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.

Sizing and Forecast

The polystyrene-plastic material and resins market size has grown rapidly in recent years. It will grow from $45.72 billion in 2023 to $52.15 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%.  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 $85.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%.  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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Segmentation & Regional Insights

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

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.

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Major Driver Impacting Market Growth

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 in 2020. India’s Gross Domestic Product (GDP) per Capita reached 1,947.417 USD in March 2021, compared with 2,140.396 USD in March 2020. 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.

Key Industry Players

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

The polystyrene-plastic material and resins market report table of contents includes:

 

1. Executive Summary
2. Polystyrene-Plastic Material And Resins Market Characteristics
3. Polystyrene-Plastic Material And Resins Market Trends And Strategies
4. Polystyrene-Plastic Material And Resins Market – Macro Economic Scenario
5. Global Polystyrene-Plastic Material And Resins Market Size and Growth

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31. Global Polystyrene-Plastic Material And Resins Market Competitive Benchmarking
32. Global Polystyrene-Plastic Material And Resins Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polystyrene-Plastic Material And Resins Market
34. Polystyrene-Plastic Material And Resins Market Future Outlook and Potential Analysis
35. Appendix

Top Major Players:

• Schulman Inc.
• Alpek SAB de CV
• Americas Styrenics LLC
• Atlas Roofing Corporation
• Austrotherm GmbH

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