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Global Polystyrene Industry Report: Analysis and Forecast 2022-2027

Global Polystyrene Industry Report: Analysis and Forecast 2022-2027

Polystyrene Mining equipment by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices

In 2021, the global Polystyrene market size was worth approximately USD 24.25 billion. The demand is anticipated to increase at a Rate of roughly 1.9 percent between 2022 and 2027, reaching a value of around USD 27.10 billion by 2027.

The worldwide Polystyrene industry study investigated the business in depth, covering major components, developments, opportunities, limitations, the degree of competition, and other exceptionally important dynamics. Increasing adoption for packaged food product is pushing the trade. Asia Pacific has showed growth for the industry and is driving demand for the polystyrene industry.

Polystyrene: Industry Definition and Segmentation

Scope

Polystyrene is a artificial fragrant hydrocarbon polymer that is made in the factory using the monomer styrene. It is made up of two systems compact and bubbled, rigid, crystal clear, and brittle plastic. It is one of the most extensively utilised polymers which are hence used in a widespread variety of buyer goods. It is generally used in things that require clearness, such as laboratory gear and food packing because it is strong and hard plastic.

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The Heaving Mining Equipment industry report comprises segments:

  • By Application – Packaging, Onetime use, Consumer and Institutional, Electrical and Electronics, Building and construction, Resellers, and others.
  • By region – North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa.

Snapshot of the Report

The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East, and South America.

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Category Drivers

The growing demand for items in the electronics market is propelling the industry forward. The use of high-impact polystyrene and general-purpose polystyrene in consumer electronics is increasing, which is helping to propel the sector forward. The increased use of expandable polystyrene (EPS) in HVAC insulation solutions is expected to boost the polystyrene industry. Furthermore, as the demand for thermal insulation develops, the polystyrene market is likely to grow. It’s usually utilised to build model cars, planes, and foams, which helps to meet market demand. It is used in injection moulding and is resistant to cracking. HIPS is also dimensionally stable. It’s easy to paint and glue, and it’s also cheap. The material is used in housing and coverings, low-strength structural components, printed graphics, models and prototypes, fittings, and so on. As a result, the market has been established.

Category Insight by Region

The Asian market for polystyrene is the largest. Asia-Pacific leads the polystyrene market due to the rapid expansion of the building sector. The Asia Pacific region currently accounts for a significant percentage of the global material trade market. Even as the region’s import and export of high-impact polystyrene (HIPS) and general-purpose polystyrene (GPPS) resins are well-adjusted, it is a clear exporter of expanded polystyrene (EPS) resin.

The growing packaging and construction industries are propelling the industry forward. Consumer spending on e-commerce and meal delivery apps has increased demand for packaging materials, notably food and non-food packaging, which has benefited polystyrene demand. The rise of the polystyrene market is fueled by the increased usage of expanded polystyrene for insulation and construction.

Expanded polystyrene (EPS) is used in the construction segment to reduce energy usage and greenhouse gas (GHG) emissions. Green buildings give benefits such as improved air quality, lower operating costs, lower total strain on metal frames, and more efficient energy and water usage. Furthermore, the industry is being propelled forward by an increase in polystyrene recycling R&D.

Best Procurement Practices

The global polystyrene equipment supply industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of polystyrene products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

When styrene monomers are linked together, a new polymer called polystyrene is produced (polymerisation). During polymerisation, the vinyl group’s carbon-carbon bond is broken, and a new carbon-carbon bond is formed, which connects to the carbon of another styrene monomer in the chain. It is a homopolymer since it is made from only one type of monomer. Depolymerizing polystyrene is challenging since the newly formed bond is stronger than the broken one. A polystyrene chain typically has a molecular weight of 100,000–400,000 g/mol and is made up of a few thousand monomers.

The carbons in the backbone have a tetrahedral geometry, and those connected to a phenyl group (benzene ring) are stereogenic. If the backbone were laid out as a flat extended zig-zag chain, each phenyl group would be inclined forward or backward to the plane of the backbone. The relative stereochemical link of successive phenyl groups determines the tacticity of a material, which affects several physical properties.

Key Supplier Profiles included in the Polystyrene Industry Report

The key market players are Americas Styrenics LLC, INEOS Styrolution, Total Energies Petrochemicals & Refining USA, Inc., Unigel Quimica SA, and Videolar-Innova SA.

The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.

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Procurement Resource

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts.