Global Specialty Polystyrene Resin Market Forecast to 2023: Focus on Protective Packaging, Building & Construction, Automotive & Transportation, Electronics, Healthcare Industries
DUBLIN, Jan. 29, 2019 /PRNewswire/ --
The "Specialty Polystyrene Resin Market by Function (Protection, Insulation, Cushioning & Others), Application (Protective Packaging, Building & Construction, Automotive & Transportation, Electronics, Healthcare), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The specialty polystyrene resin market size is projected to grow from USD 111 million in 2018 to USD 126 million by 2023, at a CAGR of 2.64% during the forecast period.
The growth of the market is primarily driven by the increasing use of packaging for performance and environmental reasons in emerging economies such as India, China, Thailand, Indonesia, Brazil, and Argentina. China continues to lead the market in APAC as well as globally. Increase in purchasing power parity and preference for packed and hygienic food are some of the major drivers responsible for the growth of the specialty polystyrene resin packaging industry. Currently, the North American and European specialty polystyrene resin products are appreciated for their high quality; they enjoy significant brand recognition over many Asian products.
Increase in the demand for protection function from various applications is expected to fuel the demand for specialty polystyrene resin.
The major functions of specialty polystyrene resin covered in this report are insulation, protection, and cushioning & others. The protection function market is expected to hold the highest market share during the forecast period. The market is driven by the increased demand from applications such as packaging, building & construction, automotive, and others. Focus on the reduction of greenhouse gas emissions and strict government regulations on the construction of energy-efficient buildings are expected to drive the demand for specialty polystyrene resin.
The healthcare application is expected to be the fastest-growing application during the forecast period.
The specialty polystyrene resin market is segmented on the basis of applications such as packaging, building & construction, automotive, healthcare, electrical & electronics, and others. The healthcare application is expected to register high growth rate. The demand for healthcare specialty polystyrene resin is also driven by the increasing acceptance of HIPS foam to reduce the risk of the spread of bacteria, germs, and diseases in hospitals or other medical sectors by its property of resisting the contaminants.
APAC to record the highest growth rate during the forecast period.
APAC has emerged as the leading consumer and producer of specialty polystyrene resin. The easy availability of low-cost labor and economical & accessible raw materials are driving foreign investments, thereby increasing the production of specialty polystyrene resin in the region. APAC is the largest and the fastest-growing specialty polystyrene resin market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in the Specialty Polystyrene Resin Market
4.2 Specialty Polystyrene Resin Market Size, By Function
4.3 Specialty Polystyrene Resin Market, By Application
4.4 Specialty Polystyrene Resin Market, By Region
4.5 APAC Specialty Polystyrene Resin Market, By Application and Key Countries
4.6 Specialty Polystyrene Resin Market Size, Developed vs. Developing Countries
4.7 Specialty Polystyrene Resin Market Attractiveness
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Growth of Automotive Application
5.2.1.2 Construction and Packaging Industries are the Major Markets for Specialty Polystyrene Resin.
5.2.2 Restraints
5.2.2.1 Volatility in Crude Oil & Raw Material Prices
5.2.2.2 Availability of High-Performance Substitutes
5.2.3 Opportunities
5.2.3.1 Polystyrene Products Can Be Recycled Easily
5.3 Challenges
5.3.1.1 Growing Preference Toward Molded Pulp Packaging
5.3.1.2 Ban on Eps in the Major Economies Threatens the Eps Manufacturers
5.4 Porter's Five Forces Analysis
5.5 Macroeconomic Indicators
5.5.1 Introduction
5.5.2 Trends and Forecast of GDP Positively Driving the Packaging Industry
5.5.3 Trends in the Automotive Industry
5.5.4 Construction Industry Spending Worldwide, 2017-2025
5.5.5 Estimated Growth Rate of Consumer Electronics Industry, By Region, 2018-2022
6 Specialty Polystyrene Resin Market, By Function
6.1 Introduction
6.1.1 Protection Function Accounted for the Largest Market Size, Globally
6.2 Protection
6.2.1 Increased Automobile Production and Healthcare Expenditure in APAC Drive the Specialty Polystyrene Resin Market in Protection Function
6.3 Insulation
6.3.1 Building & Construction Activities in APAC Drive the Specialty Polystyrene Resin Market in Insulation Function
6.4 Cushioning and Others
6.4.1 Growing Furniture & Bedding Industry in APAC Drives the Specialty Polystyrene Resin Market in Cushioning Function
7 Specialty Polystyrene Resin Market, By Application
7.1 Introduction
7.1.1 Protective Packaging Application is Expected to Lead the Specialty Polystyrene Resin Market
7.2 Protective Packaging
7.2.1 APAC to Lead in the Protective Packaging Segment of the Specialty Polystyrene Resins Market
7.3 Building & Construction
7.3.1 APAC to Lead in the Building & Construction Segment of the Specialty Polystyrene Resins Market
7.4 Automotive & Transportation
7.4.1 APAC to Lead in the Automotive & Transportation Segment of the Specialty Polystyrene Resins Market
7.5 Healthcare
7.5.1 APAC to Lead in the Healthcare Application Segment of the Specialty Polystyrene Resins Market
7.6 Electrical & Electronics
7.6.1 APAC to Lead in the Electrical & Electronics Application of the Specialty Polystyrene Resins Market
7.7 Others
8 Specialty Polystyrene Resin Market, By Region
8.1 Introduction
8.2 APAC
8.3 North America
8.4 Europe
8.5 Middle East & Africa
8.6 South America
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Scenario
9.2.1 Merger & Acqusition
9.2.2 New Product Launch
9.2.3 Investment & Expansion
9.2.4 Distribution & Agreement
10 Company Profiles
- Atlas Roofing
- BASF SE
- Eastman Chemical Company
- Ineos Styrolution Group GmbH
- Innova
- Jackon GmbH
- Knauf Insulation
- LG Chem Ltd.
- Nova Chemicals Corporation
- Pacur, Llc.
- Polysource
- RAPAC
- SABIC
- Samsung Fine Chemicals Co. Ltd.
- Sekisui Plastics Co., Ltd.
- Styrochem
- Styropek
- Sunpor Kunststoff GmbH
- Synthos S.A.
- Taita Chemical Co., Ltd.
- Total S.A.
- Trinseo
- Versalis S.P.A.
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