NEW YORK, Sept. 29, 2015 /PRNewswire/ -- Global Polystyrene (PS) market is estimated to reach 700,000 tons by 2020. More than 90% of the new capacities will be created in Asia-Pacific. The market is showing a shift towards Asia-Pacific region, at the expense of saturated industrialized markets in North America and Western Europe.
Emerging countries, on the other hand, are profiting from a continuous increase of wealth and a moderate population growth. Even though Asia-Pacific is expanding its position as world's largest consumer of PS, Africa, the Middle East, Eastern Europe and South America are also expected to develop at dynamic growth rates.
In the past, capacity utilization of polystyrene plants averaged at only about 75%. This resulted in considerable reduction of production capacities and manufacturers were pushed to restructure their plants. Industrialized countries in Western Europe and North America, as well as Japan and South Korea, have responded to the excess capacities by reducing production volume and refocusing on growth markets.
The packaging industry in particular consumes a large amount of polystyrene. Polystyrene is often used in the casings of monitors, televisions, printers, and other electrical devices as well as consumer goods. Individual application for polystyrene are also projected to develop at high rates in the coming years.
Major drivers decisive in market growth are urbanization, change in household structures, and increase in middle class population, along with rising private consumption in emerging countries.
As a result of change in technology and advanced substitutes, demand for polystyrene will not rise as dynamically as demand for other standard plastics.
What the report offers
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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