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
- Europe
- Rest of the World
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