The Global Polystyrene Market is expected to witness a significant growth of ~32.04 billion by 2022 with CAGR of ~5.4% between 2016 and 2022.
Polystyrene is a synthetic aromatic polymer manufacture from the monomer styrene basically polystyrene is a vinyl polymer. Structurally, it is a long hydrocarbon chain, with a phenyl group attached to every other carbon atom.
Polystyrene is an economical and hard plastic in form of solid or foamed. Polystyrene has found numerous application such as automotive industry, electronics, thermal insulation industries, pharmaceuticals, consumer industry, packaging industry, construction industry. Polystyrene can easy to recycling this can be an opportunity for the expanded polystyrene industry.
Furthermore, Polystyrene is a non-biodegradable it takes a lot of years to decompose. Polystyrene cause great harm to the environment in the form of water, air, and land pollution. Polystyrene have the toxic elements such as styrene and benzene, suspected carcinogens and neurotoxins which cause to hazardous to humans it also cause the ozone depletion and on global warming. A 1986 EPA report on solid waste named the polystyrene manufacturing process as the fifth largest creator of hazardous waste in the United States. This is expected to hamper the market demand in coming years.
Key Players:
Key players of the Global Polystyrene Market are Synthos S.A (Europe), Kaneka Corporation (Japan), Saudi Basic Industries Corporation (Saudi Arabia), INEOS Capital Limited. SA (Switzerland), NOVA Chemicals (UK), Trinseo S.A (US), Chevron Phillips Chemical Company (US), and others.
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Regional Analysis:
Geographically, the APAC is the biggest production and consumption in the polystyrene market.
In the APAC region, China is the largest market in APAC due to increase in demand of packaging industry, electronics industry and automotive industry followed by India. Europe followed by Latin America and North America are the other potential markets for polystyrene. North America has reached its saturation point in Global Polystyrene Market and therefore its market growth will be steady in coming few years. While Europe will witness a rise in the market due to the increase in demand of pharmaceutical industries, Latin America will be growing market due to construction industry.
Segmentation:
The Global Polystyrene Market is majorly segmented on the basis of types, end user, and region. Based on types of polystyrene the market is segmented into GPPS, HIPS, EPS, XPS, and others. Based on end user the market segmented into automotive industry, electronics, thermal insulation industries, pharmaceuticals, consumer industry, packaging industry, construction Industry, and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
Key Points from Table of Content:
10. Company Profiles
10.1 Synthos S.A
10.1.1 Company Overview
10.1.2 Product/Business Segment Overview
10.1.3 Financial Updates
10.1.4 Key Developments
10.2 Kaneka Corporation
10.2.1 Company Overview
10.2.2 Product/Business Segment Overview
10.2.3 Financial Updates
10.2.4 Key Developments
10.3 Saudi Basic Industries Corporation
10.3.1 Company Overview
10.3.2 Product/Business Segment Overview
10.3.3 Financial Updates
10.3.4 Key Developments
10.4 INEOS Capital Limited. SA
10.4.1 Company Overview
10.4.2 Product/Business Segment Overview
10.4.3 Financial Updates
10.4.4 Key Developments
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