Global Polystyrene-Plastic Material And Resins Market Growth Analysis 2024, Forecast To 2033
18 Jan, 2024
The polystyrene-plastic material and resins market have grown rapidly, ascending from $45.72 billion in 2023 to $52.15 billion in 2024, boasting a 14.1% CAGR. Historical growth is attributed to the packaging industry, construction and insulation, consumer goods, and electronics. Anticipating rapid growth, the market is projected to reach $85.1 billion in 2028, reflecting a 13.0% CAGR. Forecasted drivers include sustainability, recycling, circular economy initiatives, construction and infrastructure development, and innovation in consumer goods and electronics.
Global Polystyrene-Plastic Material And Resins Market Key Driver
Increased demand for packaged products, especially in emerging economies like China and India, drives the polystyrene market. Growing middle-class sizes result in higher consumption of processed foods and agricultural products. Higher per-capita income in China and India boosts the demand for packaged goods, increasing polystyrene consumption for packaging.
Get A Free Sample Of The Global Polystyrene-Plastic Material And Resins Market ReportGlobal Polystyrene-Plastic Material And Resins Market Segments
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
By Geography: 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. Among these regions
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.
Major Polystyrene-Plastic Material And Resins Industry Players
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
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Polystyrene-Plastic Material And Resins Market Overview
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.
Polystyrene-Plastic Material And Resins Global Market Report 2023 provides data on the global polystyrene-plastic material and resins market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The polystyrene-plastic material and resins market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.