Polystyrene is a petroleum based plastic made from the monomer styrene. Polystyrene is an inexpensive lightweight material and finds its application in a variety of products from cups that hold our hot and cold beverages to packaging of electronic applications. The demand for polystyrene is subject to various factors like government regulations, and the trends in the demand for various by-products made from polystyrene. The global market for polystyrene is experiencing a steady growth over the last few years mainly due to the ever increasing global population. One of the major factors that is propelling the growth of polystyrene is that it is relatively inexpensive in nature.
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The global market for polystyrene has shown tremendous potential especially in developing economies like China, India, Brazil, and Russia amongst others. Since polystyrene is used in a variety of products, the demand is expected to grow at a rapid rate. Packaging, construction, and consumer electronic industries are the major consumers for polystyrene and the growth is expected to remain high with the constant rise in population. Other major regions like North America and Europe are expected to have a constant demand for polystyrene for the next six years. The major applications of polystyrene include packaging, consumer electronics, construction, medical, and home appliances etc. The durability of the product, its range of hardness, flexibility as well as its cost-effectiveness makes it a popular material in a wide range of products.
With the constant technological developments, recycling of polystyrene is also available. The waste generated from the products is not disposed off but converted into other products. All these measures would help abide by the government and environmental regulations, further enhancing the growth of the industry. With growing population in developing economies like India and China, the demand for consumer products and home appliances is bound to increase, which would indirectly trigger the demand for polystyrene. Some of the major companies supplying polystyrene in the global market include Protea Polymers Eastern Africa Ltd., Cibapac, and Polyoak Packaging Group.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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