Market Snapshot, MRFR’s latest study projects that the polystyrene market will register a compound annual growth rate of 4.87% during 2017 to 2023. The packaging industry continues to post a strong demand for polystyrene - one of the most popular polymers in the world. Sales of the expandable variant has remained relatively strong and the trend is likely to continue throughout the review period. Polystyrene is also a preferred material for HVAC insulation. A sizeable percentage of the total market revenue is generated from sales of polystyrene for insulation application. It finds a wide-range of application from thermal insulator in buildings to consumer goods packaging insulation. As an industrial product, it delivers exceptional performance but has poor compliance with environmental regulation. The social problems of the product dampens its marketability to a certain extent., Report Synopsis , This MRFR perspective gauges the trends governing the polystyrene industry. It also includes a six-year (2017-2023) market forecast. Market dynamics such as drivers, restraints and opportunities are thoroughly discussed in the research document. For market assessment, revenue analysis of different types of polystyrene such as general-purpose polystyrene (GPPS), high impact polystyrene (HIPS), expanded polystyrene (EPS) and extruded polystyrene (XPS) is also available in the research document. Rigid packaging, flexible packaging, seating, HVAC insulation are the primary application areas for polystyrene considered for the market study. Revenue analysis based on end use industry covers packaging, electronics, building & construction and consumer goods & appliances., Companies Covered , Trinseo, SABIC, Innova, Alpek SAB De CV, INEOS Styrolution Group GmbH, ACH Foam Technologies, Inc., Formosa Chemical & Fibre Corp., BASF SE, Chi Mei Corporation, Kumho Petrochemical, Total., The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the document Market Snapshot

MRFR’s latest study projects that the polystyrene market will register a compound annual growth rate of 4.87% during 2017 to 2023. The packaging industry continues to post a strong demand for polystyrene - one of the most popular polymers in the world. Sales of the expandable variant has remained relatively strong and the trend is likely to continue throughout the review period. Polystyrene is also a preferred material for HVAC insulation. A sizeable percentage of the total market revenue is generated from sales of polystyrene for insulation application. It finds a wide-range of application from thermal insulator in buildings to consumer goods packaging insulation. As an industrial product, it delivers exceptional performance but has poor compliance with environmental regulation. The social problems of the product dampens its marketability to a certain extent.

Report Synopsis

This MRFR perspective gauges the trends governing the polystyrene industry. It also includes a six-year (2017-2023) market forecast. Market dynamics such as drivers, restraints and opportunities are thoroughly discussed in the research document. For market assessment, revenue analysis of different types of polystyrene such as general-purpose polystyrene (GPPS), high impact polystyrene (HIPS), expanded polystyrene (EPS) and extruded polystyrene (XPS) is also available in the research document. Rigid packaging, flexible packaging, seating, HVAC insulation are the primary application areas for polystyrene considered for the market study. Revenue analysis based on end use industry covers packaging, electronics, building & construction and consumer goods & appliances.

Companies Covered

Trinseo, SABIC, Innova, Alpek SAB De CV, INEOS Styrolution Group GmbH, ACH Foam Technologies, Inc., Formosa Chemical & Fibre Corp., BASF SE, Chi Mei Corporation, Kumho Petrochemical, Total.

The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the document.

Research Methodology

Market Research Future (MRFR) employs a comprehensive research methodology to ensure the deliverance of highly accurate market foresight. Multi-layered analysis and strong data triangulation method are utilized to conduct scrupulous market study for prudent assessment of current market trends, opportunities and challenges. Intensive qualitative and quantitative analysis is carried out through primary and secondary research processes. Surveys and first-hand interviews are conducted with company executives across the value chain for primary data collection. Secondary research process ensures the authenticity and validity of primary data through inputs from SEC filings, white paper references, paid database, research publications and other credible sources available in public domain. Additionally, the integration of top-down and bottom-up approaches ensures high accuracy of market insights.

Other Description



Market Denomination- USD Million



Base Year- 2016



Forecast Period- From 2017 to 2023



For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for polystyrene

By Type



General Purpose Polystyrene (GPPS)



High Impact Polystyrene (HIPS)



Expanded Polystyrene (EPS)



Extruded Polystyrene (XPS)



Others



By Application



Rigid Packaging



Flexible Packaging



Seating



HVAC Insulation



Others



By End Use Industry



Packaging



Electronics



Building & Construction



Consumer Goods & Appliances



Others



By Region



North America



Europe



Asia Pacific



The Middle East & Africa (MEA)



Latin America



Intended Audience



Polystyrene manufacturers



Traders and distributors of Polystyrene



Production Process industries



Potential investors



Raw material suppliers



Nationalized laboratory

Frequently Asked Questions (FAQ) : At what CAGR is the global polystyrene market projected to grow in the forecast period (2017-2023)? The global polystyrene market is estimated to register 4.87% CAGR during 2017 to 2023. What are the major end-user industries of polystyrene? Consumer electronics, automotive, thermal insulation, pharmaceuticals, packaging, construction are the major end-user industries of polystyrene. Which region holds the largest share in the global polystyrene market? Asia Pacific holds the largest share in the global polystyrene market followed by North America and Europe, respectively. Who are the top players in the global polystyrene market? SABIC, Trinseo, Innova, INEOS Styrolution Group GmbH, Alpek SAB De CV, ACH Foam Technologies, Inc., BASF SE, Formosa Chemical & Fibre Corp., Chi Mei Corporation, Total, and Kumho Petrochemical, are some of the major players operating in the global polystyrene market. What are the key growth strategies of polystyrene industry players? Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global polystyrene market adopt to gain a larger competitive advantage.

Market Research Future (MRFR) projects the global polystyrene market to reach above USD 33,000 Mn at an estimated CAGR of 4.87% over the forecast period of 2018-2023. The global polystyrene market was valued at USD 24,926.7 Mn in 2017.

The global polystyrene market is deriving much of its growth from the heightened use of expandable polystyrene (EPS) in HVAC insulation applications. EPS is expansively used as a construction material owing to its sustainability quotient apart from being a natural derivative and fully-recyclable. Usage of EPS in construction allows for faster construction, cost reduction and protection against adverse weather conditions. EPS meets safety standards, including seismic resistance and is thermally insulating, light-weight and inexpensive which makes it suited for application in constructions. The efficacy of EPS as a construction material has already been proven which has increased its adoption rate.

High thermal stability, good tensile strength, and high dielectric properties have given rise to a number of applications in the Heating, Ventilation, and Air-Conditioning (HVAC) industry. EPS molded foams used for HVAC applications are demonstrated to be energy efficient and offer outstanding thermal properties. Moreover, they also find application in refrigerators and air conditioning. EPS provides lifelong stable insulation performance throughout the entire life of a building. Increasing acceptability of EPS in HVAC applications propels the growth of the global polystyrene market.

Polystyrene is a versatile product which is also used in the production of a variety of consumer products. As a hard, solid plastic, it is used in food packaging. Polystyrene food packaging typically insulates better, keeps food fresh for a longer time and is cheaper compared to other packaging alternatives. Moreover, polystyrene packaging is safer and hygienic than cardboard packaging. Being recyclable, it is perfect for disposable usage and consequently ensures a cleaner environment. Flourishing FMCG industry has been an affirming push to the growth of the global polystyrene market.

The expansion of construction activity in North America and Europe is expected to provide growth opportunities to the global polystyrene market. Ongoing major infrastructural and other public projects coupled with the popularity of green building technologies has created a vast demand for polystyrene products.

The global polystyrene market has been segmented based on type, application, and end-use industry. By type, the market has been segmented into expandable polystyrene (EPS), general-purpose polystyrene (GPPS), high-impact polystyrene (HIPS), extruded polystyrene (XPS), and others. The EPS segment accounted for the largest share of the global polystyrene market in 2017 and is projected to be the largest segment over the forecast period. Increasing demand for EPS in automobiles, appliances, and building and construction will help the segment grow at a CAGR of above 5% over the forecast period while the GPPS segment is projected to be the second largest segment.

By application, the market has been segmented into HVAC insulation, rigid packaging, seating, flexible packaging, and others. The HVAC insulation segment is expected to dominate the market and attain approximately 9000 Mn over the forecast period.

By end-use industry, the market has been segmented into packaging, building and construction, electronics, consumer goods and appliances, and others. The packaging segment held the largest market share in 2017 while the construction end-use segment is expected to be the fastest growing segment over the forecast period.

Regional Analysis

By region, the global polystyrene market has been segmented into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. In 2017, Asia Pacific emerged as the largest market for polystyrene with a 44.7% share of the global market. With steady economic growth, Asia Pacific has observed high growth in the construction sector in the recent years. Increasing urbanization coupled with infrastructural projects presents lucrative growth prospects for the global polystyrene market. Moreover, the development of the food & beverage industry shows a positive trend, especially in China. Regulatory support and government policies promoting investments at the domestic level are also foreseen to be a growth driver for the APAC polystyrene market.

Europe commanded the second position in the global polystyrene market in 2017 and was valued at USD 5,220.3 Mn. The resurgence of constructional activities in Europe can be attributed for this growth.

The Middle East & Africa market is expected to expand at a relatively faster rate compared to others. Constructional and infrastructure projects for the most significant chunk of the government spending in the region which is expected to be conducive for the growth of the global polystyrene market. Improving construction sector outlook especially in the GCC economies will help the Middle East & Africa market capture the highest CAGR of above 5.5% over the forecast period.

Competitive Tracking

Chi Mei Corporation, Total, Kumho Petrochemical, Alpek SAB De CV, Trinseo, Formosa Chemical & Fibre Corp., SABIC, Innova, BASF SE, ACH Foam Technologies, Inc., and INEOS Styrolution Group GmbH.