Polystyrene-Plastic Material And Resins Market Size, Trends, Drivers, Growth Rate And Future Expansion To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Polystyrene-Plastic Material And Resins Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $85.1 billion In 2028 At A CAGR Of 13.0% :

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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Polystyrene-Plastic Material And Resins Market Major Segments
The polystyrene-plastic material and resins market covered in this report 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

Key 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.

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Prominent 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.

Polystyrene-Plastic Material And Resins Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the polystyrene market in 2023. North America was the second-largest region in the global polystyrene market. The regions covered in the polystyrene-plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Polystyrene-Plastic Material And Resins Market Report Structure
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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