Polystyrene is a polymer used mainly in. It is a form of plastic that is widely used in both household and industrial applications. It is found in a variety of shapes and sizes. The plastic industry is on the rise due to new trend like biodegradable plastic. The innovative Expanded Polystyrene or EPS has found its way into the packaging industry. EPS has a good insulating property which helps it to be used in the appliance industry.
In the global market polystyrene has been analyzed on the basis of application and production technique. Based on application it has been subdivided into electronics, automotive, appliances, insulation, packaging and medical. The production techniques used includes polymerization techniques like solution polymerization, emulsion polymerization and suspension polymerization. Increase in the packaging industry has a direct relationship with the growth in Polystyrene market. Polystyrene foams are used as a packaging material for the food industry.
The above graph gives a clear idea about the revenue status of polystyrene market for the upcoming 5 years.
Globally, the regions that dominate the production of polystyrene are North America, APAC, Europe and ROW. APAC is the largest producer of polystyrene followed by North America and Europe. China leads the production in APAC. The demand for plastic products in China is the major reason for the increasing production.
The major players in the polystyrene market include:
- The DOW Chemical Company (U.S.)
- BASF SE (Germany)
- Chi Mei Corporation (Taiwan)
- SABIC (Saudi Arabia)
- Trinseo (U.S.)
- A.Schulman, Inc
Some of the other key players include:
- Poly One Corp. (U.S.)
- NOVA Chemicals Corporation (Canada)
- Alpek SAB de CV (Mexico)