Press Release
Press Release
According to a new report by EMR titled, ‘Global Polystyrene Market Report and Forecast 2024-2032’, the global polystyrene market is being driven by the rising demand for the product. The global demand for the product reached nearly 19.68 million metric tons in 2023 and expected to grow at a CAGR of 1.9% between 2024 and 2032.
The global polystyrene market is being driven by polystyrene’s growing demand in the construction and electronics sector. Polystyrene, being a flexible plastic, is used to produce a wide range of consumer products like automotive parts, toys, laboratory products, electronics, etc. Thus, consumer electronics has emerged as a major driving segment for the industry, which is expected to grow at a CARG of 7-10% till 2023.
The Asia Pacific dominates the global market for polystyrene, contributing significantly to the global trade market of the product. In February 2020, INEOS Styrolution Group GmbH, a leading global styrenics supplier, completed the acquisition of two polystyrene sites in China from Total S.A. The company focuses on styrene monomer, polystyrene, ABS Standard, and styrenic specialties and provides the ease of recyclability and compatibility to its consumers. With this acquisition, the company aims at expanding its market in Asia, further making domestic market in China accessible to the company with locally produced materials.
Moreover, with the increasing environmental concern and rising plastic pollution, the demand to reduce plastic waste is on the rise. Thus, the major players in the industry like Total S.A. (NYSE: TOT) and others are focusing on recycling its plastic produce, further reducing the carbon footprint on the environment. Total S.A., a global leader in bioplastics, is the most integrated oil and gas company with worldwide operations, producing fuels, natural gas and low-carbon electricity. In June 2018, Total S.A. announced that it has joined forces with Citeo, Saint-Gobain, and Syndifrais, to create a polystyrene recycling channel in France by 2021. The feasibility of large-scale production will be validated at the Group’s industrial sites in Carling (France) and Feluy (Belgium). All the four players in the polystyrene consumer packaging value chain actively seek a recycling solution that will ensure the development of a circular economy for such products.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The major players in the global polystyrene market are INEOS Styrolution Group GmbH, Total S.A., Americas Styrenic LLC, CHIMEI Corporation, PS Japan Corporation, Shanghai SECCO, Petrochemical Company Limited, Versalis S.p.A., Supreme Petrochem Ltd, and Trinseo PLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
Website: www.expertmarketresearch.com
Email: [email protected]
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.