Global Polystyrene-Plastic Material And Resins Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The polystyrene market consists of the sales of polystyrene and related services. Polystyrene is a synthetic thermoplastic material formed through polymerizing styrene. It is used in modeled products, foams and sheet materials.

Global Polystyrene-Plastic Material And Resins Market Size And Drivers:

The global polystyrene-plastic material and resins market is expected to grow from $35.69 billion in 2020 to $42.78 billion in 2021 at a compound annual growth rate (CAGR) of 19.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $48.96 billion in 2025 at a CAGR of 3%. The demand for packaged goods increased the consumption of polystyrene for their packaging, driving the market.

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Trends In The Global Polystyrene-Plastic Material And Resins Market

Construction and packaging sectors in developing countries are increasingly using the Expanded Polystyrene (EPS). EPS provides design and structural cohesion to construction projects and possesses physical and mechanical properties required for insulation. It is mostly used in the construction sector due to properties of closed air low thermal conductivity, low water absorption, lightweight, mechanical resistance, and sound resistance. EPS offers sound weight and volume performances compared to other building materials making construction simple.

Global Polystyrene-Plastic Material And Resins Market Segments:
The global polystyrene-plastic material and resins market is further segmented –
By Product Type: Expandable Polystyrene (EPS), General-Purpose Polystyrene (GPPS), High-Impact Polystyrene (HIPS), Extruded Polystyrene (XPS)
By End Use Industry: Automotive Industry, Electronics, Thermal Insulation Industries, Pharmaceuticals, Consumer Industry, Packaging Industry, Construction Industry
By Application: HVAC Insulation, Rigid Packaging, Seating, Flexible Packaging
By Geography: The global polystyrene-plastic material and resins market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Polystyrene-Plastic Material And Resins Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides polystyrene-plastic material and resins market overviews, analyzes and forecasts market size and growth for the global polystyrene-plastic material and resins market, polystyrene-plastic material and resins market share, polystyrene-plastic material and resins market players, polystyrene-plastic material and resins market segments and geographies, polystyrene-plastic material and resins market’s leading competitors’ revenues, profiles and market shares. The polystyrene-plastic material and resins market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.