The Specialty Polystyrene Resin Market report, published by Stratview Research is Segmented by Application Type (Building & Construction, Automotive & Transportation, Protective Packaging, Electrical & Electronics, Healthcare, and Others), by Function Type (Insulation, Protection, Cushioning, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

The specialty polystyrene resin market was estimated at USD 116.68 million in 2022 and is likely to grow at a CAGR of 2.76% during 2023-2028 to reach USD 137.77 million in 2028.

Increasing usage of eco-friendly polystyrene by end-use industries to meet the government’s criteria to reduce greenhouse gas emissions is the major factor that is contributing to the demand for specialty polystyrene resin, globally, during the forecast period.

What are specialty polystyrenes?

Specialty polystyrenes are the types of polystyrenes that are fabricated for high-performance applications. These are designed with special raw materials and additives with advanced production techniques with enhanced properties. Specialty polystyrenes are composed of less dense individual cells and their cross-linked nature provides a better strength-to-weight ratio than polystyrene. Polystyrene is a solid or foamed synthetic hydrocarbon polymer made up of monomer styrene.

Specialty polystyrenes are used in various end-use industries, such as building & construction, automotive & transportation, protective packaging, electrical & electronics, healthcare, and others.

The report estimates the current and future demand for Specialty Polystyrene Resin Market at the global, regional, as well as country-level. The report also studies all the major suppliers of the market located across the globe. The vital data/information offered in the report can play an important role for the market participants in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies in order to expedite their growth process. This exclusive report is the outcome of an exclusive research methodology including primary research and secondary research.

The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics.
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Key success factors.

Key Players

  • BASF SE Corporation
  • Sekisui Plastics Co., Ltd.
  • Synthos S.A.
  • LG Chem Ltd.
  • Styropek S.A
  • Eastman chemical Company
  • Nova Chemicals Corporation
  • VERSALIS
  • Taita Chemical Co., Ltd.
  • SABIC.

Segment Analysis

Based on the function type, the market is segmented as insulation, protection, cushioning, and others. The protection segment held the largest share of the market in 2021 and is expected to maintain its legacy during the forecast period. The growth of the segment is owing to the extensive use of specialty polystyrene resin for protective packaging in numerous end-use industries, on account of its remarkable strength-to-weight ratio.

Based on the application type, the market is segmented as building & construction, automotive & transportation, protective packaging, electrical & electronics, healthcare, and others. The protective packaging application segment dominates the market as it finds vast applications in the packaging industry due to the lightweight and high-strength properties of specialty polystyrene resins. Further, specialty polystyrene is a material approved by the Drug Administration, which is likely to propel its growth in the healthcare industry during the forecast period.

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for specialty polystyrene resins during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as healthcare, protective packaging, automotive & transportation, and others, which is generating huge demand for specialty polystyrene resins and the presence of a large number of specialty polystyrene resin manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Frequently Asked Questions (FAQs)

  • What will be the size of the Specialty Polystyrene Resin Market in the coming years?
  • Who are the key players in the Specialty Polystyrene Resin Market and what are their market shares?
  • Which region is expected to remain the largest Specialty Polystyrene Resin Market?
  • Which region is expected to witness the highest growth in the Specialty Polystyrene Resin Market?
  • What are the key strategies adopted by the major vendors to lead in the Specialty Polystyrene Resin Market?

Report Customization Options

With this detailed report, Stratview Research offers customization options to the clients. This includes detailed company profiling of additional market players, Competitive Benchmarking of key players on the parameters like: Product portfolio, geographical reach, regional presence, and strategic alliances.

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