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Polystyrene-Plastic Material And Resins Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | A.Schulman Inc., ACH Foam Technologies Inc., Alpek SAB de CV, Americas Styrenics LLC
Polystyrene-Plastic Material And Resins Market Size
Polystyrene-Plastic Material And Resins Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | A.Schulman Inc., ACH Foam Technologies Inc., Alpek SAB de CV, Americas Styrenics LLC
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033
The Business Research Company offers in-depth market insights through Polystyrene-Plastic Material And Resins Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The polystyrene-plastic material and resins market size has grown rapidly in recent years. It will grow from $45.72 billion in 2023 to $52.15 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to packaging industry, construction and insulation, consumer goods and electronics, food service industry.
The polystyrene-plastic material and resins market size is expected to see rapid growth in the next few years. It will grow to $85.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to sustainability and recycling, circular economy initiatives, construction and infrastructure development, consumer goods and electronics innovation. Major trends in the forecast period include .
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Market Segmentation:
The main product types of polystyrene are expandable polystyrene (EPS), general-purpose polystyrene (GPPS), high-impact polystyrene (HIPS), and extruded polystyrene (XPS). Extruded polystyrene is manufactured through an extrusion process. This manufacturing process will involve melting together the plastic resin and other ingredients. The applications are HVAC insulation, rigid packaging, seating, and flexible packaging. The end-use industries are the automotive industry; electronics; thermal insulation; pharmaceuticals; consumer industry; packaging industry; construction industry.
Major Driver - Rising Middle-Class And Increased Demand For Packaged Goods Fuel Polystyrene Market Growth
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.
Competitive Landscape:
Major companies operating in the polystyrene-plastic material and resins market include 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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Top Trend - Expanding Use Of Expanded Polystyrene (EPS) In Construction And Packaging In Developing Countries
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.
The Table Of Content For The Market Report 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
…..
27. Polystyrene-Plastic Material And Resins Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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