Global Polystyrene Market is Projected to Reach USD 28.2 Billion by 2019

Date: 2015-08-24

Polystyrene is a stiff and hard synthetic resin. It is produced through the polymerization of styrene, and is mainly used in the food-service industry to manufacture containers, rigid trays, and disposable utensils such as foamed cups, plates, and bowls.  The quality, high efficiency and low cost of polystyrene have created an upsurge in the demand for the overall polystyrene market. In addition to this, upcoming safety regulations & innovative techniques are additional factors influencing its overall demand across varied industry verticals.

The global polystyrene market is projected to reach USD 28.2 billion by 2019, at a CAGR of 5.1% between 2014 and 2019, in terms of value. The market for polystyrene is estimated to grow on account of the rapid expansion of the plastics and rubber manufacturing industries, especially in Europe and the increasing rates of industrialization and globalization. The flourishing packaging and electronics application in emerging economies is expected to act as a budding opportunity for the polystyrene market.

China is estimated to be the leading country in the Asia-Pacific polystyrene market. Increase in demand of polystyrene in the Asia-Pacific is led by the rising demand from electronic appliances and packaging applications, due to increasing population and improving standards of living of individuals. However, the shift in preference towards organic and recyclable plastics is one of the major restricting factors hampering the growth of the polystyrene market. 

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