Global Polystyrene Market

The plastic caps and closures market consists of sales of plastic caps and closure products by entities (organizations, sole traders, or partnerships) that are mainly produced from high-density polyethylene (HDPE) and polypropylene (PP). Plastic caps and closures are the final elements of the packaging process that are used in a variety of applications such as beverage packaging, non-food packaging, and cosmetic packaging. The main types of products in plastic caps and closures are screw caps, dispensing caps and others. Dispensing caps is a type of closure used to dispense product from container or a bottle. Different types of dispensing caps include turret or directional spout, single or dual flap, snap-top, push-pull, Yorker, spigot styles, disc-top, hinge, snip-tip, spice, shaker and twist open-close. The different materials include polypropylene, polystyrene, polyethylene and is implemented in various verticles such as pharmaceutical, personal care, food and beverages. The global plastic caps and closures market size is expected to grow from $39.74 billion in 2021 to $43.71 billion in 2022 at a compound annual growth rate (CAGR) of 10%. The plastic cap and closure market is expected to grow to $55.17 billion in 2026 at a CAGR of 6%. An increase in demand for bottled water from consumers across the globe is driving the plastic caps and closures market. The bottled water is sealed with plastic caps and closures to prevent spillage, facilitate easy transportation and extend shelf life. The demand for bottled water is increasing due to the rise in awareness of water contamination and safety concerns. For instance, according to a 2019 study by Water Quality Association in the USA, around 78% of the respondents confirmed that they regularly consume bottled water, averaging 12 bottles daily per household. Moreover, as per the Bottled water statistics, in 2021 the volume of bottled water climbed by 4.2%, compared to 3.7% in 2019. This is expected to continue in the forecast period thus driving the demand for plastic caps and the closures market. Key players operating in the plastics caps and closures market are focusing on developing and launching innovative products to meet the sustainability targets set by governing bodies across the globe. For instance, in September 2021, Borealis and MENSHEN, the leading players in plastic closures and packaging solutions have partnered on a series of ten package closures based on Borcycle, a progressive recycling technology that turns polyolefin-based waste streams into value-adding adaptable products. Borcycle is developed to make a variety of recycled polyolefins (rPO)-based compounds that are excellent for use in complex rigid packaging applications. In July 2019, Berry Global Group, a US-based global manufacturer of plastic packaging acquired RPC Group Plc for $6.5 billion. The acquisition is expected to allow Berry Group to leverage combined innovative materials science, product development, and manufacturing technologies to create value for customers. RPC Group Plc is a UK-based manufacturer of rigid plastic packaging products. Major players in the plastic caps and closures market are Berry Global Inc, Guala Closures Group, BERICAP, O.Berk Company, United Caps, Caps & Closures Pty Ltd., Pano Cap Limited, Plastic Closures Ltd., Cap & Seal Pvt. Ltd, and MJS Packaging. Asia Pacific was the largest region in the plastic caps and closures market in 2021. The regions covered in the plastic caps and closures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the plastic caps and closures market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global plastic caps and closures market is segmented - 1) By Product Type: Screw Caps, Dispensing Caps, Others 2) By Material: Polypropylene, Polystyrene, Polyethylene, Others 3) By End-User: Pharmaceutical, Personal Care, Food and Beverages, Others

The plastic products market consists of sales of plastic products by entities (organizations, sole traders and partnerships) that produce packaging materials, film and sheet, foam products, plastic bottles and all other plastic products which have domestic and industrial applications. These businesses use polymers and resins as raw materials which are primarily sourced from polymer suppliers. The processes used in plastic products manufacturing include compression molding, extrusion molding, injection molding, blow molding and casting. The main types of plastic products are plastics packaging materials and unlaminated film and sheet, plastic pipes and shapes, laminated plastics plate, sheet, and shape, plastics bottle, polystyrene foam products, urethane and other foam product and other plastics product. The plastic material is typically applied for glass-clear packaged foods, such as fresh salads, fruits, cold meats, snacks, and so on. The different technologies include injection molding, extrusion molding, blow molding, others and is used in various sectors such as automotive & transportation, electrical & electronics, medical, construction, others. The global plastic products market size is expected to grow from $888.99 billion in 2021 to $986.63 billion in 2022 at a compound annual growth rate (CAGR) of 11%. The plastic product market is expected to grow to $1,427.59 billion in 2026 at a CAGR of 9.7%. The plastics products manufacturing industry is affected by the growth of the packaging industry. There are a number of new developments in the packaging industry that will drive the demand for plastic materials. Convenience features, such as resealable packs, easy-to-open stand-up pouches and smaller pack sizes for single-servings are being introduced and more promotional packs and brand extensions are being developed to ensure customer loyalty. These developments in packaging will increase the consumption of plastics and are driving the market. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the plastic products manufacturing market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the plastic products manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy The practice of using 3D printing in plastics manufacturing is becoming more common. This technology produces solid objects from digital designs by building up multiple layers of plastic, resin, or other materials in a precisely determined shape. The speed and flexibility of this technology can promote innovation and reduce time-to-market. The products produced using 3D printers have good mechanical properties like strength and rigidity. For example, Stratasys developed one such color multi-material 3D printer which can combine colors with multi-material 3D printing. The printer uses cyan, magenta and yellow colors and plastics and elastomers as base materials to print objects with wide ranges of flexibility and rigidity, transparency and opacity. Major companies in the plastic products market include Amcor Limited, Berry Global Group Inc., Sealed Air Corporation, Avery dennison, Thyssenkrupp AG, LyondellBasell Industries Holdings BV, Brookfield Asset Management, Sekisui Chemical Co. Ltd., Aptar Group, and 3M Company. Asia Pacific was the largest region in the plastic products market in 2021. North America was the second largest region in the plastic product market. The regions covered in the plastic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plastic products market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global plastic products market is segmented - 1) By Type: Plastics Packaging Materials and Unlaminated Film and Sheet, Plastic Pipes and Shapes, Laminated Plastics Plate, Sheet, and Shape, Plastics Bottle, Polystyrene Foam Products, Urethane and Other Foam Product, Others 2) By Technology: Injection Molding, Extrusion Molding, Blow Molding, Others 3) By End-User Industry: Automotive and Transportation, Electrical and Electronics, Medical, Construction, Others Subsegments Covered: Bags and Pouches, Films and Sheets, Unlaminated Plastics Profile Shape, Plastics Pipe and Pipe Fitting HDPE Plastic Bottles, PET Plastic Bottles, PP Plastic Bottles, Other Plastic Bottles

Polystyrene Foam Product Manufacturing Market Definition

The polystyrene foam product manufacturing market consists of sales by entities (organizations, sole traders and partnerships) that manufacture polystyrene foam products which are used in food packaging, electronics packaging, automobiles and the construction industry. These products include coolers, ice chests, cups, dinnerware, insulation sheets and other products made from polystyrene foam. This market does not include sales of other plastic foam products. Polystyrene is a lightweight plastic polymer made from suspension polymerization of styrene monomer. In suspension polymerization, styrene is treated with a polymerization initiator to convert it into polystyrene.

The insulated concrete form market consists of sales of insulated concrete form by entities (organization, partnership, sole-traders) that manufacture insulated concrete form. Insulated Concrete Forms (ICFs) are concrete wall forming systems that stay in place permanently as part of the structure and are not removed after the concrete has hardened. High density styrofoam or other lightweight materials are used for their formation. The insulated concrete forms are separate panels connected with plastic or metal ties or can be pre-formed interlocking blocks. The main types of insulated concrete form are polystyrene foam, polyurethane foam, cement-bonded wood fiber, cement-bonded polystyrene beads and cellular concrete. Polystyrene foams are good thermal insulators and therefore used as building insulation materials. Polyurethane foam is manufactured by reacting polyols and diisocyanates. Cement-bonded wood fiber is a composite material, usually made from waste wood, chipped into a specially classified aggregate that is then mineralized and combined with the portland cement. Cement bonded polystyrene beads are used to reduce the density of cement-bonded composite (CBC) for reducing the main limitation of CBC in its applications. Cellular concrete is a combination of cement, preformed foam and water. These types of insulated concretre form are mainly used in the construction industry as insulating materials. The global insulated concrete form market size is expected to grow from $0.93 billion in 2021 to $0.98 billion in 2022 at a compound annual growth rate (CAGR) of 5.39%. The growth in the market 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 insulated concrete market is expected to reach $1.23 billion in 2026 at a CAGR of 5.81%. The increasing demand for energy efficient buildings is driving the insulated concrete form (ICF) market. Construction industries, particularly in regions such as Europe and North America are increasingly constructing green and energy-efficient buildings. ICFs are the lightweight, hollow forms generally manufactured using the high-density expanded polystyrene panels. These panels are connected & distinctively designed with 100% recycled polypropylene webs. ICFs minimize the waste produced which is 100% recyclable. ICFs enhance energy effciency of consutruction buildings. For example, in 2020, The Howland Green Business Centre in Canada was built using the new XR35 by Nudura, an enhanced insulated concrete form, which makes the building’s combined thermal resistance value higher than the insulated concrete forms used in other similar structures. Public private partnerships is the key trend in the insulated concrete form market. For instance, in April 2021, Insulating Concrete Forms Manufacturers Association (ICFMA), a UK-based company that promotes the use of Insulating Concrete Forms (ICF), announced a partnership with National Ready Mixed Concrete Association’s (NRMCA) Build with a strength program, Build with Strength 2.0. The program is partnering with Habitat for Humanity International to secure decent, inexpensive, and sustainable housing across the United States and it is donating concrete for the construction of Habitat homes. Further, in August 2021, Graven Hill, a self build village in the UK, partnered with Iconic Development Group (IDG) to offer the ICF-constructed homes in the UK. Moreover, IDG is building six homes at Graven Hill and plans to build 20 houses at that site in the coming years. In February 2021, Insulating Concrete Forms Manufacturers Association (ICFMA), a Canadian non-profit trade association for the insulated concrete form industry, announced to partner with National Ready Mixed Concrete Association’s (NRMCA) Build with a strength program, Build with Strength 2.0. The program is partnering with Humanity International to reinforce resonable, modest, and durable housing across the US and is donating concrete for the construction of Habitat homes. NRMCA is an association for the concrete form industry. Major players in the insulated concrete form market are Nudura Corporation, Quad-Lock Building Systems, AMVIC, Beco Products, LOGIX Insulated Concrete Forms, Polycrete International, LiteForm, Sunbloc, Rastra, SuperForm Products, Durisol, Fox Blocks, ConForm Global, KORE, Mikey Block Co, Integraspec, Standard ICF Corp, and Logix Insulated Concrete Forms Ltd. North America was the largest region in the insulated concrete form market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insulated concrete form market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the insulated concrete form market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global insulated concrete form market is segmented - 1) By Material: Polystyrene Foam, Polyurethane Foam, Cement-Bonded Wood Fiber, Cement-Bonded Polystyrene Beads, Cellular Concrete 2) By Type: Waffle Grid System, Flat Wall System, Post and Beam System, Others 3) By Application: Commercial, Industrial, Infrastructural, Residential

The structural insulated panels market consists of sales of structural insulated panels (SIPs) by entities (organizations, partnerships, and sole proprietors) that consist of a super-strong construction panel having an insulating foam between two structural facings. SIPs are high-performance insulating panels used to construct walls, ceilings, and floors for residential and light commercial construction. They have superior strength against natural disasters, high energy-efficiency, and are cost-effective in construction purposes. The main structural insulated panels products include EPS (Expanded Polystyrene) panel, rigid polyurethane (PUR) and rigid polyisocyanurate (PIR) panel, glass wool panel and other products. EPS panel refers to a white foam plastic material produced from solid beads of polystyrene. It is used in insulated panel systems for use in floors, walls and roofs of domestic as well as commercial buildings. The structural insulated panels facing materials include oriented strand board (OSB) structural insulated panels and magnesium oxide (MgO) board structural insulated panels. The different applications of structural insulated panels are for walls and floors, roofs and cold storage which are used by residential and nonresidential end-users. The global structural insulated panels market size is expected to grow from $0.38 billion in 2021 to $0.40 billion in 2022 at a compound annual growth rate (CAGR) of 5.46%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while 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 structural insulated panel market is expected to reach $0.50 billion in 2026 at a CAGR of 5.66%. Increasing emphasis on green buildings is expected to propel the growth of the structural insulated panels market. The structural insulated panel system has superior thermal resistance and, insulation capabilities, which enables the building envelope to regulate the heating, cooling, and humidity using less energy to heat or cool. For instance, according to the US Green Building Council, in August 2019, California had over 46,252,746 sq. ft. of sustainable residential structures in the form of 39,296 buildings followed by Texas, with 24,598, and New York, with 10,876 certified residential units. Also, according to the World Green Building Council, the global green building industry has the potential to cut energy consumption by 50% or more by 2050. Therefore, increasing emphasis on green buildings is driving the growth of the structural insulated panels market. Growing collaborations and strategic partnerships among structural insulated panels companies is a key trend gaining popularity in the market. Structural insulated panel companies are focusing on manufacturing sustainable products and reducing emissions. For instance, in April 2021, Kingspan Group, an Ireland-based building materials company that produces structural insulated panels partnered with Sweden based fossil-free steel manufacturer, H2 Green Steel. The partnership would help in reducing embodied carbon in Kingspan’s insulated panel products by over 45% and aid towards net zero carbon manufacturing by 2030 with the intent of minimizing emissions to the lowest possible level. In August 2021, Owens Corning, a US-based producer of residential and commercial building materials acquired Vliepa GmbH for an undisclosed amount. The acquisition is expected to broaden Owens Corning’s global nonwovens portfolio to better serve European customers and accelerate the growth of building and construction market applications in the region. Vliepa GmbH is a Germany-based building materials company that produces structural insulated panels. Major players in the structural insulated panels  market are Kingspan Group, PFB Corporation, Isopan, Structural Panels Inc., Ingreen Systems Corp., Owens Corning, Premier Building Systems, Inc, T. Clear Corporation, ACME Panels, Eagle Panel Systems, Inc., Future Building of America, Isopan, Korwall Industries, M-sips, Inc. and Porter Corp North America was the largest region in the structural insulated panels market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the structural insulated panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the structural insulated panel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global structural insulated panels market is segmented - 1) By Product: EPS (Expanded Polystyrene) Panel, Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel, Glass Wool Panel, Others 2) By Facing Material: Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MgO) Board Structural Insulated Panels 3) By Application: Walls and Floors, Roofs, Cold Storage 4) By End-User: Residential, Non-Residential

The styrene market consists of sales of styrene and related services used for making synthetic rubber, resins, and plastics and improving drying oils. Styrene is a colorless, gritty organic compound derived from benzene. Styrene is readily evaporated and is also used as a precursor to polystyrene and several other copolymers. Styrene is a fragrant liquid used for making synthetic rubber, resins, and plastics and improving drying oils. The main types of styrene are acrylonitrile butadiene styrene, expanded polystyrene, and other types. Expanded polystyrene (EPS) is a rigid, tough, and lightweight thermoplastic product. EPS is good for the packaging and construction industries because of its lightweight, strong, and excellent thermal insulation properties. Styrene market is also segmented by application into automotive, construction, packaging consumer goods, and others that are available by offline and online distribution channels. The global styrene market is expected to grow from $49.3 billion in 2021 to $52.28 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The styrene market is expected to grow to $62.81 billion in 2026 at a CAGR of 4.7%. The high demand for polystyrene drives the growth of the styrene market. Styrene is used to produce polystyrene through suspension polymerization. Polystyrene is a versatile plastic used for the manufacturing of refrigerators, air conditioners, ovens, microwaves, vacuum cleaners. Polystyrene is majorly used in the packaging industry as it keeps food fresher for a longer duration. The demand for polystyrene is high in the automobile industry where it is used in manufacturing car knobs, instrument panels, trim, energy absorbing door panels, and sound dampening foam. Thus, strong demand for polystyrene has resulted in increasing in the demand. For instance, India and Iran are expected to lead the capacity expansion in the forecast period in order to cater to the demand. In India, Supreme Petrochem and LG Polymers India are expected to add 0.15 mtpa and 0.03 mtpa (million tonnes per annum) respectively. Thus, the rising demand for polystyrene and its derivatives positively drives the growth of the styrene market. The increasing health and environmental concerns due to the usage of styrene limits the demand for styrene. Styrene is primarily used in the production of plastics and other resins. Short-term exposure to styrene in humans is known to result in mucous membrane and eye irritation, and gastrointestinal effects whereas long-term exposure to styrene results in effects on the central nervous system (CNS), such as headache, fatigue, weakness, depression, CSN dysfunction, hearing loss, and peripheral neuropathy. In animals, oral exposure to styrene affects the liver, blood, kidney, and stomach. Thus, the ill effect of styrene on health and the environment restricts the growth of the styrene market. The companies in the styrene market are working towards developing techniques to recycle styrene. In order to increase the efficiency and popularity of styrene, companies are investing in developing methods to recycle styrene. In 2019, Trinseo, a synthetic rubber manufacturer, joined Styrenic Circular Solutions, to drive the recycling of polystyrene, a product produced from styrene and is used in the manufacturing of tires, back into new styrene monomer in the future of the industry. In February 2019, Ineos Styrolution, a German styrenics supplier, acquired Total's Chinese PS business that includes two polystyrenes (PS) production sites. This acquisition contributes to Ineos' Triple Shift growth plan by expanding the company's production footprint in Asia and providing access to the Chinese domestic market. The Chinese PS business of Total involves in the production of polystyrene in China. Major players in the styrene market are Alpek SAB DE CV, Ashland Inc, Ineos Group AG, Nova Chemicals Corporation, Bayer Material science, Chevron Phillips Chemical Company LLC, ENI S.p.A., INEOS Styrolution Holding Ltd., Saudi Basic Industries Corp. (SABIC), and Total S.A. Asia Pacific was the largest region in the styrene market in 2021. The regions covered in the styrene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the styrene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global styrene market is segmented - 1) By Type: Acrylonitrile Butadiene Styrene (ABS), Expanded Polystyrene (EPS), Others 2) By Application: Automotive, Construction, Packaging Consumer Goods, Others 3) By Distribution Channel: Offline, Online

The styrene market consists of sales of styrene and related services used for making synthetic rubber, resins, and plastics and improving drying oils. Styrene is a colorless, gritty organic compound derived from benzene. Styrene is readily evaporated and is also used as a precursor to polystyrene and several other copolymers. The main types of styrene petrochemicals are acrylonitrile butadiene styrene (abs), expanded polystyrene (eps), and other types. Acrylonitrile butadiene styrene is defined as an n engineering thermoplastic copolymer. It is made of styrene, acrylonitrile, and butadiene. The various applications of styrene include automotive, construction, packaging consumer goods, and other applications that are distributed offline and online channels. The global styrene-petrochemicals market size is expected to grow from $54.06 billion in 2021 to $57.75 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The global styrene-petrochemical market size is expected to grow to $74.52 billion in 2026 at a CAGR of 6.6%. The high demand for polystyrene drives the growth of the styrene market. Styrene is used to produce polystyrene through suspension polymerization. Polystyrene is a versatile plastic used for the manufacturing of refrigerators, air conditioners, ovens, microwaves, vacuum cleaners. Polystyrene is majorly used in the packaging industry as it keeps food fresher for a longer duration. The demand for polystyrene is high in the automobile industry where it is used in manufacturing car knobs, instrument panels, trim, energy absorbing door panels, and sound dampening foam. Thus, strong demand for polystyrene has resulted in rising in the demand. For instance, India and Iran are expected to lead the capacity expansion in the forecast period to cater to the demand. In India, Supreme Petrochem and LG Polymers India are expected to add 0.15 mtpa and 0.03 mtpa (million tonnes per annum) respectively. Thus, the increase in demand for polystyrene and its derivatives positively drives the growth of the styrene market. The increasing health and environmental concerns due to the usage of styrene limits the demand for styrene. Styrene is primarily used in the production of plastics and other resins. Short-term exposure to styrene in humans is known to result in mucous membrane and eye irritation, and gastrointestinal effects whereas long-term exposure to styrene results in effects on the central nervous system (CNS), such as headache, fatigue, weakness, depression, CSN dysfunction, hearing loss, and peripheral neuropathy. In animals, oral exposure to styrene affects the liver, blood, kidney, and stomach. In May 2020, a styrene chemical leak from the LG Polymers plant in Visakhapatnam killed seven people and triggered fear in the industrial coastal city. Thus, the ill effect of styrene on health and the environment restricts the growth of the styrene market. The companies in the styrene market are working towards developing techniques to recycle styrene. To increase the efficiency and popularity of styrene, companies are investing in developing methods to recycle styrene. In 2019, Trinseo, a synthetic rubber manufacturer, joined Styrenic Circular Solutions, to drive the recycling of polystyrene, a product produced from styrene and is used in the manufacturing of tires, back into new styrene monomer in the future of the industry. In October 2020, Trinseo, a US-based manufacturer of plastics and latex binders, acquired Heathland B.V, for an undisclosed amount. With the acquisition, Trinseo aims at embedding sustainability in its product portfolio, promoting supplier and operational stewardship, and tackling climate changes. Heathland B.V is a Netherlands-based chemical recycling company. Major players in the styrene market are Alpek SAB DE CV, Ashland Inc, Ineos Group AG, Nova Chemicals Corporation, Bayer Material science, Chevron Phillips Chemical Company LLC, ENI S.p.A., INEOS Styrolution Holding Ltd., Saudi Basic Industries Corp. (SABIC), and Total S.A. Asia Pacific was the largest region in the styrene market in 2021. The Middle East was the second-largest region in the global styrene-petrochemicals market. The regions covered in the global styrene-petrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the styrene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global styrene-petrochemicals market is segmented - 1) By Type: Acrylonitrile Butadiene Styrene (ABS), Expanded Polystyrene (EPS), Others 2) By Application: Automotive, Construction, Packaging Consumer Goods, Others 3) By Distribution Channel: Offline, Online

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. The main product types of polystyrene are expandable polystyrene (EPS), general-purpose polystyrene (GPPS), high-impact polystyrene (HIPS), extruded polystyrene (XPS). Extruded polystyrene is manufactured through an extrusion process. This manufacturing process will involve melting together the plastic resin and other ingredients. The applications are HVAC insulation, rigid packaging, seating, flexible packaging. The end-use industries are the automotive industry, electronics, thermal insulation industries, pharmaceuticals, consumer industry, packaging industry, construction industry. The global polystyrene-plastic material and resins market size is expected to grow from $34.55 billion in 2021 to $39.86 billion in 2022 at a compound annual growth rate (CAGR) of 15.4%. The global polystyrene-plastic material and resin market size is expected to grow to $68.44 billion in 2026 at a CAGR of 14.5%. The demand for packaging products has increased recently, particularly in emerging economies such as China and India. As the size of the middle-class grew in these countries, the consumption of processed foods, poultry, meat, and agricultural products increased. According to the trading economics, the Gross Domestic Product per capita in China was at $10430.73 US dollars in 2020. and India's Gross Domestic Product (GDP) per Capita reached 1,947.417 USD in Mar 2021, compared with 2,140.396 USD in Mar 2020. The increase in per-capita income in these economies resulted in the emerging middle-class purchasing more packaged goods. The demand for packaged goods increased the consumption of polystyrene for their packaging, driving the market. Stringent regulations on plastic materials were a major restraint on the polystyrene market. Many of the products in the polystyrene market are potentially hazardous during the manufacturing stages because the manufacturing processes involve reactions that can be dangerous unless controlled carefully. Government agencies and regulators are strictly assessing and managing the risks involved in the production and use of polystyrene. Many cities in the USA, decided to ban polystyrene products from schools and other civic buildings. In January 2019, New York City implemented a citywide ban on single-use foam containers. In October 2019, The Integrated Waste Management Authority passed the ordinance to ban polystyrene in the entire San Luis Obispo County. Polystyrene manufacturers are instructed to be compliant with complex regulations that govern labeling, handling, manufacturing and shipping, and storage of the product, leading to an increase in compliance costs for the manufacturers. Construction and packaging sectors in developing countries are increasingly using 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. In February 2019, INEOS Styrolution, a styrenics supplier headquartered in Germany completed the acquisition of two polystyrene sites from Total S.A. for an undisclosed amount. The acquisition includes two polystyrene production sites in Ningbo and Foshan and two related offices in Guangzhou and Shanghai. The transaction will increase INEOS Styrolution’s manufacturing footprint in Asia, and provide access to the domestic market in China. Total SA is a multinational oil and gas company headquartered in France. Major players in the polystyrene market are A.Schulman Inc, ACH Foam Technologies, Inc, Alpek S.A.B. de C.V, Americas Styrenics LLC, Atlas Roofing Corporation, Austrotherm GmbH, BASF SE, BEWiSynbra Group, Brødr. Sunde as, and Chi Mei Corporation. Asia Pacific was the largest region in the polystyrene market in 2021. North America was the second-largest region in the global polystyrene market. The regions covered in the global polystyrene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the polystyrene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global polystyrene-plastic material and resins market is segmented - 1) By Product Type: Expandable Polystyrene (EPS), General-Purpose Polystyrene (GPPS), High-Impact Polystyrene (HIPS), Extruded Polystyrene (XPS) 2) By Application: HVAC Insulation, Rigid Packaging, Seating, Flexible Packaging 3) By End-User Industry: Automotive Industry, Electronics, Thermal Insulation Industry, Pharmaceuticals, Consumer Industry, Packaging Industry, Construction Industry