According to the new market research report " Global Polystyrene Market by Application (Packaging, Electronics, Appliances, Construction, Others), by Region - Forecast to 2019 ", In 2014, the global polystyrene market, in terms of volume, was recorded to be 9,997 KT, and is projected to grow at a CAGR of 3.2% from 2014 to 2019.
The polystyrene market is experiencing enormous growth and is expected to grow significantly in the coming years, mainly driven by the increasing demand from high-growth Asia-Pacific region, followed by the European and North American regions. A considerable amount of investment has been made by various market players to serve the end-user application industries of the polystyrene market. Furthermore, the Asia-Pacific region is expected to show a high growth in the coming years, mainly owing to the high growth potential in China and India.
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The global polystyrene market, along with its end products, has witnessed steady growth in recent years and this growth is estimated to continue in the coming years. Polystyrene is a stiff, hard, brilliantly synthetic resin. It is produced through the polymerization of styrene and is mainly used in the food-service industry (in containers, rigid trays, and in disposable utensils such as foamed cups, plates, and bowls). Quality, high efficiency, and environment-friendliness are some of the major features that drive the demand for polystyrene worldwide.
The major drivers of the industry are industrialization, the growing demand from plastic and rubber industries, uneconomical substitutes, and high polystyrene consumption in the emerging regions across the globe.
The key companies covered in the report include
- BASF SE (Germany),
- Styrolution Group (Germany),
- Videolar S/A (Sao Paulo),
- SABIC (Saudi Arabia), and
- Formosa Plastic Corporation (Taiwan), among others.
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This study basically aims at estimating the global market of polystyrene for 2014 and projecting the market demand till 2019. The market research study provides a detailed qualitative and quantitative analysis of the global polystyrene market. Various secondary sources such as encyclopedia, directories, industry journals, and databases have been utilized to identify and collect information useful for this extensive commercial study of the polystyrene market. The primary sources (including experts from related industries and suppliers) have been interviewed to obtain and verify critical information, as well as to assess the future prospects of the global polystyrene market.
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