Global Specialty Polystyrene Resin Market Trends, Applications, Analysis, Growth, and Forecast 2028
“Global Specialty Polystyrene Resin Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global specialty polystyrene resin market report has been segmented on the basis of function, application, and region.
Global Specialty Polystyrene Resin Market: Introduction
Specialty polystyrene resin is a lightweight polymer foam. These resins are used in the packaging industry as a protection layer. Specialty polystyrene resins are majorly used in packaging, automotive, building & construction, electrical & electronics industries.
Global Specialty Polystyrene Resin Market: Dynamics
Increasing production of automobiles in countries such as the US, Canada, Germany, France, China, India, UK, and others owing is a key factor projected to drive the growth of the potential market. Rising demand for electrical & electronic products in developing economies owing to changing living standards and increasing disposable income is estimated to augment the growth of the target market over the next few years. In addition, a growing number of infrastructure development activities across the globe is estimated to support the growth of the market.
However, volatile prices of crude oil coupled with the availability of substitute resins are some factors anticipated hamper the growth of the potential market.
Global Specialty Polystyrene Resin Market: Function Analysis
Among the function segments, the protection segment is estimated to contribute a major share in the specialty polystyrene resin market. Rising demand for specialty polystyrene resin in packaging, healthcare, and electrical & electronics applications for protection of products during transportation is estimated to boost the growth of the segment. The insulation segment is anticipated to grow steadily in the potential market.
Global Specialty Polystyrene Resin Market: Application Analysis
Among the application segments, the protective packaging segment is projected to grow at a higher rate over the next few years. Increasing demand for protective packaging of electronic components, pharmaceutical products, consumer goods, and others are estimated to support the growth of the segment. Moreover, the rising demand for safe transportation of industrial products is projected to drive the growth of the segment.
Global Specialty Polystyrene Resin Market: Regional Analysis
The Asia Pacific specialty polystyrene resin market is estimated to dominate the target market in terms of revenue and volume. Growing building & construction industry in the region owing to the rising population and increasing spending power of individuals is projected to boost the growth of the potential market in the Asia Pacific over a few years. Rising production of automobiles in countries such as India, China, Indonesia, and others is projected to augment the growth of the potential market in the region.
The Asia Pacific is estimated to be the largest consumer of specialty polystyrene resins followed by the market in North America. The specialty polystyrene resin market in North America is anticipated to grow steadily over the next few years. Rising demand for electronic goods in the region is estimated to drive the growth of the North America specialty polystyrene resin market. In addition, the presence of major automotive manufacturers in the region is anticipated to boost the growth of specialty polystyrene resin market in North America.
Global Specialty Polystyrene Resin Market Segmentation:
Segmentation by Function:
Segmentation by Application:
- Protective Packaging
- Building & Construction
- Automotive & Transportation
- Electrical & Electronics
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Synthos S.A.
- Versalis S.P.A.
- BASF SE
- Sekisui Plastics Co., Ltd.
- DowDuPont Inc.
- Mitsubishi Chemical Corporation
- LG Chem, Ltd.
- Eastman Chemical Company
- Nova Chemicals Corporation
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