The Global Specialty Polystyrene Resin Market is projected to reach a value of over USD 137.4 billion by 2027 at a CAGR of around 2.3%.
Specialty polystyrene resin is a lightweight material and is composed of individual cells of low-density polystyrene. Its cells are not cross-linked, making them ideal for protection function. Thus, it is remarkably used in wide range of packaging and building & construction applications such as insulation, structural insulated panels, insulated concrete forms, roofing isolation systems, sheathing, and decorative modeling.
Market Driver:
Specialty polystyrene resin is widely used as a protection material for various applications includes electrical & electronics, healthcare, and packaging. It is one of the versatile types of polymer foam with good mechanical and physical strength, thus, it is considered as the best packaging option for high-value heavy products and industrial products, which are entirely protected and safe from transportation as well as handling risks. The pharmaceutical breakable products, electronics components, consumer electronic products, and toys require trustable packaging to avoid damage and specialty polystyrene resin is the finest option.
Due to the versatile properties, it is used in a variety of applications such as packaging and insulation, which is fueling the market growth.
Market Restraints:
Raw materials used for manufacturing specialty polystyrene resin are obtained from petroleum products. Continuously varying petroleum product prices due to the supply & demand gap, natural disasters, and politics influence the price of the finished products. Moreover, the production cost and storage can also cause oil prices to rise and fall as well.
Therefore, volatility in raw materials cost is a key restraining factor to market growth.
Specialty Polystyrene Resin Market: Report Scope
The report on the specialty polystyrene resin market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) and Volume (Kiloton) |
Segments Included |
Function and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Specialty Polystyrene Resin Market, by Function
Specialty Polystyrene Resin Market, by Application
Specialty Polystyrene Resin Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Specialty Polystyrene Resin MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain