According to a new report, published by KBV research, The Global Polystyrene Market size is expected to reach $54.8 billion by 2030, rising at a market growth of 4.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 16,991.8 Kilo Tonnes, experiencing a growth of 3.3% (2019-2022).
The Foams segment would exhibit a CAGR of 3.5 % during (2023 - 2030). Polystyrene foams, particularly EPS, are exceptionally lightweight. This characteristic makes them ideal for various applications, especially in the packaging and construction industries. The lightweight nature of foams helps reduce transportation costs and facilitates easy handling during installation. EPS foam, known as Styrofoam, is known for its excellent shock-absorbing and cushioning properties. This makes it an ideal material for packaging fragile items.
The Packaging segment is registering maximum revenue in the Global Polystyrene Market, by End-Use in 2022; thereby, achieving a market value of $16.8 billion by 2030. Polystyrene's versatility allows for the creation of a wide range of packaging solutions. It can be molded into different forms, such as films, sheets, trays, and containers, providing packaging designers and manufacturers with the flexibility to address diverse packaging needs. Polystyrene's inert nature and resistance to moisture make it suitable for packaging in the food industry.
The General Purpose Polystyrene (GPPS) segment is experiencing a CAGR of 4.3% during (2023 - 2030). GPPS is widely employed in manufacturing consumer electronics casings because it is transparent and rigid. The clarity of GPPS allows them to produce transparent and aesthetically pleasing casings for electronic devices such as televisions, computer monitors, and audio equipment. The visual appeal and ease of processing make GPPS a preferred choice in the consumer electronics sector, contributing significantly to the overall demand for polystyrene.
The Asia Pacific region is generating highest revenue in the Global Polystyrene Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $29.5 billion by 2030. The North America region is poised to grow at a CAGR of 3.2% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 3.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/polystyrene-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SABIC (Saudi Arabian Oil Company), Alfa, S. A. B. de C. V., BASF SE, CHIMEI Corporation, TotalEnergies SE, INEOS Styrolution Group GmbH, Atlas Roofing Corporation (Atlas Molded Products) (Hood Companies, Inc.), Trinseo PLC, LG Chem Ltd. (LG Corporation), and Synthos S.A
By Form Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Resin Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Companies Profiled
Unique Offerings 
