Global Specialty Polystyrene Resin Market was valued at US$ 109.2 Mn in 2019 and is expected to reach US$ 137.2 Mn by 2026, at a CAGR of 2.9% during the forecast period.The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.To know about the Research Methodology:-Request Free Sample ReportThe objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding Specialty Polystyrene Resin market dynamics, structure by identifying and analyzing the market segments and project the global market size.Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Specialty Polystyrene Resin market.Polystyrene is a synthetic aromatic polymer that can be rigid, foamed or an integral part of a copolymer. Copolymers include systems such as high-impact polystyrene (HIPS) and acrylonitrile butadiene styrene (ABS), which have wide use due to their improved impact resistance. Polystyrene resins are clear, brittle, inexpensive, thermoplastic with low melting points, the latter of which makes the polymer uniquely suited to the precision molding of small parts (such as plastic cutlery) as well as vacuum forming.The major driving factors behind the Global Specialty Polystyrene Resin Market are the increasing demand for protection from end-use industries such as packaging, building & construction, healthcare, and electrical & electronics.Emphasis on the reduction of greenhouse gas emissions and strict government regulations on the construction of energy-efficient buildings with better insulation properties are expected to drive the demand for specialty polystyrene resin.Based on the function, the protection segment is expected to account for the largest share of the Specialty Polystyrene Resin market. It is likely to continue its dominance throughout the forecast period due to its increasing demand from industries such as automotive and building & construction. Specialty polystyrene resin includes tensile, bending absorbing impact, sudden force, load-bearing, and others which are mostly needed in industries.Specialty polystyrene resin also used in the packaging application is made up of material types such as PS, PU, PO, and others including PVDF and PVC. Specialty polystyrene resin is lightweight, composed of individual cells of low-density PS, and has a high strength-to-weight ratio because its cells are not cross-linked, making them the perfect material for the protection function.
Global Specialty Polystyrene Resin Market Segment Analysis:
Based on the application, the protective packaging application is expected to account for the largest share of the Specialty polystyrene resin market during the forecast period. It is one of the finest packaging options for any high-value heavy products and industrial products, which are entirely protected and safe from transportation and handling risks. Specialty polystyrene resin packaging used in various products such as breakable pharmaceutical products, electronic components, electrical consumer goods, toys, and horticultural or garden products. These products reach consumers in perfect condition because of their specialty polystyrene resin packaging.Specialty polystyrene resin-based packaging is cost-efficient, versatile, effective, and is easy to handle as it has no sharp edges or staples. Specialty polystyrene resin-based packaging foam adjusts to combined production systems. It can also protect sophisticated machinery from any damage.
Global Specialty Polystyrene Resin Market Regional Analysis:
Geographically, the Asia Pacific Specialty polystyrene resin market is anticipated to grow at a high CAGR during the forecast period. Asia Pacific region has emerged as the leading consumer and producer of specialty polystyrene resin. The growth of the specialty polystyrene resin market is primarily driven by the increasing use of plastic packaging for better performance in emerging economies such as India, China, the Middle East, Thailand, Indonesia, Brazil, and Argentina.China continues to hold the largest market share in the Asia Pacific as well as globally. The easy availability of low-cost labor and economical & accessible raw materials are driving foreign investments, which are increasing the production of specialty polystyrene resin in the region.The North American and European specialty polystyrene resin products are appreciated for their high quality, and they enjoy significant brand recognition over many Asian products.
Global Specialty Polystyrene Resin Market, Key Highlights:
• Global Specialty Polystyrene Resin Market analysis and forecast, in terms of value.• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Specialty Polystyrene Resin Market• Global Specialty Polystyrene Resin Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.• Global Specialty Polystyrene Resin Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.• Global Specialty Polystyrene Resin Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Specialty Polystyrene Resin Market are also profiled.The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Global Specialty Polystyrene Resin Market : Key Players
• Sekisui Plastics Co., Ltd.• NOVA Chemicals Corporation• Synthos• BASF SE• SUNPOR KUNSTSTOFF GmbH• Atlas EPS• VERSALIS• SABIC• LG Chem, Ltd• BEWiSynbra Group AB• Samsung Fine Chemicals Co., Ltd• Total S.A.• Trinseo• Eastman Chemical Company• StyroChem• JACKON Insulation GmbH
