Global Polystyrene-Plastic Material And Resins Market Size Worth $71.91 Billion By 2027 At A CAGR Of 12.5%

The Business Research Company's Polystyrene-Plastic Material And Resins Global Market Report 2023 identifies 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.

The global polystyrene-plastic material and resins market size will grow from $39.67 billion in 2022 to $44.95 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global polystyrene-plastic material and resins market size is expected to grow from $71.91 billion in 2027 at a CAGR of 12.5%.

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Major players in the polystyrene market are A.Schulman Inc., ACH Foam Technologies, Inc., Alpek S.A.B. de C.V, Americas Styrenics LLC., Atlas Roofing Corporation, Austrotherm GmbH, BASF SE, BEWiSynbra Group, Brødr. Sunde as, and Chi Mei Corporation.

The construction and packaging sectors in developing countries are increasingly using Expanded Polystyrene (EPS). EPS provides design and structural cohesion to construction projects and possesses the physical and mechanical properties required for insulation. It is mostly used in the construction sector due to its properties of closed air, low thermal conductivity, low water absorption, lightweight, mechanical resistance, and sound resistance. EPS offers sound weight and volume performances compared to other building materials, making construction simple.

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The Polystyrene-Plastic Material And Resins market 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: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Polystyrene-Plastic Material And Resins market.

The Business Research Company's "Global Polystyrene-Plastic Material And Resins Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Polystyrene-Plastic Material And Resins Market Include:
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. Polystyrene-Plastic Material And Resins Market Size And Growth
.....
26. Africa Polystyrene-Plastic Material And Resins Market
27. Polystyrene-Plastic Material And Resins Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Polystyrene-Plastic Material And Resins Market
29. Polystyrene-Plastic Material And Resins Market Future Outlook and Potential Analysis
30. Appendix

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