Product Code: CH 6705
"Growth of the packaging & building & construction industries is increasing the consumption of specialty polystyrene resin."
The specialty polystyrene resin market size is projected to grow from USD 111 million in 2018 to USD 126 million by 2023, at a CAGR of 2.64% during the forecast period. The growth of the market is primarily driven by the increasing use of packaging for performance and environmental reasons in emerging economies such as India, China, Thailand, Indonesia, Brazil, and Argentina. China continues to lead the market in APAC as well as globally. Increase in purchasing power parity and preference for packed and hygienic food are some of the major drivers responsible for the growth of the specialty polystyrene resin packaging industry. Currently, the North American and European specialty polystyrene resin products are appreciated for their high quality; they enjoy significant brand recognition over many Asian products.
Increase in the demand for protection function from various applications is expected to fuel the demand for specialty polystyrene resin.
The major functions of specialty polystyrene resin covered in this report are insulation, protection, and cushioning & others. The protection function market is expected to hold the highest market share during the forecast period. The market is driven by the increased demand from applications such as packaging, building & construction, automotive, and others. Focus on the reduction of greenhouse gas emissions and strict government regulations on the construction of energy-efficient buildings are expected to drive the demand for specialty polystyrene resin.
The healthcare application is expected to be the fastest-growing application during the forecast period.
The specialty polystyrene resin market is segmented on the basis of applications such as packaging, building & construction, automotive, healthcare, electrical & electronics, and others. The healthcare application is expected to register high growth rate. The demand for healthcare specialty polystyrene resin is also driven by the increasing acceptance of HIPS foam to reduce the risk of the spread of bacteria, germs, and diseases in hospitals or other medical sectors by its property of resisting the contaminants.
APAC to record the highest growth rate during the forecast period.
APAC has emerged as the leading consumer and producer of specialty polystyrene resin. The easy availability of low-cost labor and economical & accessible raw materials are driving foreign investments, thereby increasing the production of specialty polystyrene resin in the region. APAC is the largest and the fastest-growing specialty polystyrene resin market.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the specialty polystyrene resin market.
- By company type: Tier 1 - 60%, Tier 2 - 30%, and Others - 10%
- By designation: C Level - 50%, Director Level - 40%, and Others - 10%
- By region: Europe - 35%, North America - 30%, APAC - 16%, South America - 12%, and the Middle East & Africa - 7%
The specialty polystyrene resin market comprises major solution providers, such as Sekisui Plastics Co., Ltd. (Japan), NOVA Chemicals Corporation (Canada), Synthos (Poland), BASF SE (Germany), SUNPOR KUNSTSTOFF GmbH (Austria), Atlas EPS (US), VERSALIS (Italy), SABIC (Saudi Arabia), LG Chem, Ltd. (South Korea), BEWiSynbra Group AB (publ) (Sweden), Samsung Fine Chemicals Co., Ltd (South Korea), Total S.A. (France), and Trinseo (US). The study includes an in-depth competitive analysis of these key players in the specialty polystyrene resin market, with their company profiles, recent developments, and key market strategies.
The market study covers the specialty polystyrene resin market across segments. It aims at estimating the size and the growth potential of this market across different segments based on function, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall specialty polystyrene resin market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
- 1.1. OBJECTIVES OF THE STUDY
- 1.2. MARKET DEFINITION
- 1.3. MARKET SCOPE
- 1.3.1. YEARS CONSIDERED FOR THE STUDY
- 1.4. CURRENCY
- 1.5. PACKAGE SIZE
- 1.6. LIMITATION
- 1.7. STAKEHOLDERS
2. RESEARCH METHODOLOGY
- 2.1. RESEARCH DATA
- 2.1.1. SECONDARY DATA
- 188.8.131.52. Key data from secondary sources
- 2.1.2. PRIMARY DATA
- 184.108.40.206. Key data from primary sources
- 2.1.3. KEY INDUSTRY INSIGHTS
- 2.1.4. BREAKDOWN OF PRIMARY INTERVIEWS
- 2.2. MARKET SIZE ESTIMATION
- 2.2.1. BOTTOM-UP APPROACH
- 2.2.2. TOP-DOWN APPROACH
- 2.3. MARKET BREAKDOWN AND DATA TRIANGULATION
- 2.4. ASSUMPTIONS AND LIMITATIONS
- 2.4.1. ASSUMPTIONS
- 2.4.2. LIMITATIONS
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
- 4.1. ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN THE SPECIALTY POLYSTYRENE RESIN MARKET
- 4.2. SPECIALTY POLYSTYRENE RESIN MARKET SIZE, BY FUNCTION
- 4.3. SPECIALTY POLYSTYRENE RESIN MARKET, BY APPLICATION
- 4.4. SPECIALTY POLYSTYRENE RESIN MARKET, BY REGION
- 4.5. APAC SPECIALTY POLYSTYRENE RESIN MARKET, BY APPLICATION AND KEY COUNTRIES
- 4.6. SPECIALTY POLYSTYRENE RESIN MARKET SIZE, DEVELOPED VS. DEVELOPING COUNTRIES
- 4.7. SPECIALTY POLYSTYRENE RESIN MARKET ATTRACTIVENESS
5. MARKET OVERVIEW
- 5.1. INTRODUCTION
- 5.2. MARKET DYNAMICS
- 5.2.1. DRIVERS
- 220.127.116.11. High growth of automotive application
- 18.104.22.168. Construction and packaging industries are the major markets for specialty polystyrene resin.
- 22.214.171.124. High growth of electrical & electronics application
- 5.2.2. RESTRAINTS
- 126.96.36.199. Volatility in crude oil & raw material prices
- 188.8.131.52. Availability of high-performance substitutes
- 5.2.3. OPPORTUNITIES
- 184.108.40.206. Polystyrene products can be recycled easily
- 5.2.4. CHALLENGES
- 220.127.116.11. Growing preference toward molded pulp packaging
- 18.104.22.168. Ban on EPS in the major economies threatens the EPS manufacturers
- 5.3. PORTER'S FIVE FORCES ANALYSIS
- 5.3.1. THREAT OF SUBSTITUTES
- 5.3.2. BARGAINING POWER OF BUYERS
- 5.3.3. THREAT OF NEW ENTRANTS
- 5.3.4. BARGAINING POWER OF SUPPLIERS
- 5.3.5. INTENSITY OF COMPETITIVE RIVALRY
- 5.4. MACROECONOMIC INDICATORS
- 5.4.1. INTRODUCTION
- 5.4.2. TRENDS AND FORECAST OF GDP POSITIVELY DRIVING THE PACKAGING INDUSTRY
- 5.4.3. TRENDS IN THE AUTOMOTIVE INDUSTRY
- 5.4.4. CONSTRUCTION INDUSTRY SPENDING WORLDWIDE, 2017-2025
- 5.4.5. ESTIMATED GROWTH RATE OF CONSUMER ELECTRONICS INDUSTRY, BY REGION, 2018-2022
6. SPECIALTY POLYSTYRENE RESIN MARKET, BY FUNCTION
- 6.1. INTRODUCTION
- 6.1.1. PROTECTION FUNCTION ACCOUNTED FOR THE LARGEST MARKET SIZE, GLOBALLY
- 6.2. PROTECTION
- 6.2.1. INCREASED AUTOMOBILE PRODUCTION AND HEALTHCARE EXPENDITURE IN APAC DRIVE THE SPECIALTY POLYSTYRENE RESIN MARKET IN PROTECTION FUNCTION
- 6.3. INSULATION
- 6.3.1. BUILDING & CONSTRUCTION ACTIVITIES IN APAC DRIVE THE SPECIALTY POLYSTYRENE RESIN MARKET IN INSULATION FUNCTION
- 6.4. CUSHIONING AND OTHERS
- 6.4.1. GROWING FURNITURE & BEDDING INDUSTRY IN APAC DRIVES THE SPECIALTY POLYSTYRENE RESIN MARKET IN CUSHIONING FUNCTION
7. SPECIALTY POLYSTYRENE RESIN MARKET, BY APPLICATION
- 7.1. INTRODUCTION
- 7.1.1. PROTECTIVE PACKAGING APPLICATION IS EXPECTED TO LEAD THE SPECIALTY POLYSTYRENE RESIN MARKET
- 7.2. PROTECTIVE PACKAGING
- 7.2.1. APAC TO LEAD IN THE PROTECTIVE PACKAGING SEGMENT OF THE SPECIALTY POLYSTYRENE RESINS MARKET
- 7.3. BUILDING & CONSTRUCTION
- 7.3.1. APAC TO LEAD IN THE BUILDING & CONSTRUCTION SEGMENT OF THE SPECIALTY POLYSTYRENE RESINS MARKET
- 7.4. AUTOMOTIVE & TRANSPORTATION
- 7.4.1. APAC TO LEAD IN THE AUTOMOTIVE & TRANSPORTATION SEGMENT OF THE SPECIALTY POLYSTYRENE RESINS MARKET
- 7.5. HEALTHCARE
- 7.5.1. APAC TO LEAD IN THE HEALTHCARE APPLICATION SEGMENT OF THE SPECIALTY POLYSTYRENE RESINS MARKET
- 7.6. ELECTRICAL & ELECTRONICS
- 7.6.1. APAC TO LEAD IN THE ELECTRICAL & ELECTRONICS APPLICATION OF THE SPECIALTY POLYSTYRENE RESINS MARKET
- 7.7. OTHERS
8. SPECIALTY POLYSTYRENE RESIN MARKET, BY REGION
- 8.1. INTRODUCTION
- 8.2. APAC
- 8.2.1. CHINA
- 22.214.171.124. China accounted for the largest market size for specialty polystyrene resin in APAC
- 8.2.2. INDIA
- 126.96.36.199. Potential customer base and one of the fastest growing consumers of specialty polystyrene resin in APAC
- 8.2.3. JAPAN
- 188.8.131.52. Automotive & Transportation and Electronics & Semiconductors applications are the largest markets for specialty polystyrene resin in Japan
- 8.2.4. SOUTH KOREA
- 184.108.40.206. Automotive & Transportation application drives the market for specialty polystyrene resin in South Korea
- 8.2.5. REST OF APAC
- 220.127.116.11. Building & Construction, increase in population, and improving economic conditions are expected to drive the specialty polystyrene resin market in the rest of APAC
- 8.3. NORTH AMERICA
- 8.3.1. US
- 18.104.22.168. Growth in the residential and commercial housing sector to drive the specialty polystyrene resin market in the country
- 8.3.2. CANADA
- 22.214.171.124. Growth in the economy and automotive industry is expected to drive the specialty polystyrene resin market in the country
- 8.3.3. MEXICO
- 126.96.36.199. Strong rebound in exports and improved business confidence to strengthen the Mexican specialty polystyrene resin market
- 8.4. EUROPE
- 8.4.1. GERMANY
- 188.8.131.52. The German construction industry is expected to drive the specialty polystyrene resin market
- 8.4.2. POLAND
- 184.108.40.206. Growth in the chemical manufacturing industry is expected to drive the specialty polystyrene resin market
- 8.4.3. RUSSIA
- 220.127.116.11. Building & Construction industry is expected to drive the specialty polystyrene resin market
- 8.4.4. ITALY
- 18.104.22.168. Building & Construction and automobile industries are expected to drive the specialty polystyrene resin market
- 8.4.5. REST OF EUROPE
- 22.214.171.124. Commercial & residential construction industry is expected to drive the specialty polystyrene resin market
- 8.5. MIDDLE EAST & AFRICA
- 8.5.1. MIDDLE EAST
- 126.96.36.199. Building & construction and automobile & transportation application is expected to drive the specialty polystyrene resin market
- 8.5.2. AFRICA
- 188.8.131.52. Rising demand from the automotive, electronics, aerospace, energy, and construction industries has driven the specialty polystyrene resin market
- 8.6. SOUTH AMERICA
- 8.6.1. BRAZIL
- 8.6.2. REST OF SOUTH AMERICA
9. COMPETITIVE LANDSCAPE
- 9.1. INTRODUCTION
- 9.2. COMPETITIVE SCENARIO
- 9.2.1. MERGER & ACQUSITION
- 9.2.2. NEW PRODUCT LAUNCH
- 9.2.3. INVESTMENT & EXPANSION
- 9.2.4. DISTRIBUTION & AGREEMENT
10. COMPANY PROFILES (Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
- 10.1. SYNTHOS S.A.
- 10.2. BASF SE
- 10.3. VERSALIS S.P.A.
- 10.4. SEKISUI PLASTICS CO., LTD.
- 10.5. LG CHEM LTD.
- 10.6. SUNPOR KUNSTSTOFF GMBH
- 10.7. EASTMAN CHEMICAL COMPANY
- 10.8. NOVA CHEMICALS CORPORATION
- 10.9. STYROPEK
- 10.10. STYROCHEM
- 10.11. POLYSOURCE
- 10.12. RAPAC
- 10.13. KNAUF INSULATION
- 10.14. TAITA CHEMICAL CO., LTD.
- 10.15. JACKON GMBH
- 10.16. INNOVA
- 10.17. SABIC
- 10.18. ATLAS ROOFING
- 10.19. INEOS STYROLUTION GROUP GMBH
- 10.20. TRINSEO
- 10.21. TOTAL S.A.
- 10.22. PACUR, LLC.
- 10.23. SAMSUNG FINE CHEMICALS CO. LTD.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
- 11.1. INSIGHTS FROM INDUSTRY EXPERTS
- 11.2. DISCUSSION GUIDE
- 11.3. KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 11.4. AVAILABLE CUSTOMIZATIONS
- 11.5. RELATED REPORTS
- 11.6. AUTHOR DETAILS