Polystyrene is a thermoplastic polymer, synthesized by polymerization of styrene monomer. Raw materials for styrene synthesis include ethylbenzene and benzene. Polystyrene melts when heated above its melting temperature and becomes rigid when allowed to cool. This property proves beneficial in the manufacture of various components in the construction and electronics industry. Polystyrene can be subjected to use extrusion, molding and vacuum forming techniques to manufacture various components. Expandable polystyrene (EPS) is a type of polystyrene that is expanded with the help of air, and fused together to form blocks.
Rising demand from the packaging industry in BRICS countries is anticipated to boost the global polystyrene & EPS market. Increasing demand for polystyrene & EPS from consumer electronics and electronic components is further estimated to drive the global polystyrene & EPS market. However, volatility in prices of raw materials is projected to hamper market growth in the near future. Furthermore, availability of high performance substitutes is likely to act as a major restraining factor for the polystyrene & EPS market. Shift towards recycled polystyrene products is expected to offer high opportunities for players in the market in the next few years.
In terms of volume and revenue, the packaging industry emerged as the largest application segment for the global polystyrene & EPS market in 2013. Packaging is anticipated to remain the largest application in the near future. Major end-user industries for packaging application segment include food, retail and consumer goods. Electrical & electronics was the second-largest outlet for polystyrene in 2013 and is estimated to be fastest growing application during the forecast period.
Capacitors and electronic components constitute the largest portion of the electrical & electronics application segment. Polystyrene & EPS are used in the manufacture of refrigerators, ovens, microwaves, vacuum cleaners, televisions, handheld devices, and IT and telecom equipment. Growth in the consumer electronics industry and increasing use of polystyrene in the manufacture of electronic components is projected to drive the market for polystyrene & EPS. Demand for polystyrene & EPS in building & construction application is likely to be driven by governmental regulations regarding energy conservation in North America and Europe. Polystyrene is primarily used in the insulation of flooring and roofing.
China dominated the global polystyrene & EPS market in 2013 in terms of volume and revenue. The country has been experiencing high demand for polystyrene & EPS from packaging and electrical & electronics applications since the past few years. Demand for polystyrene & EPS in China is expected to grow at a rapid pace in the next few years. Major electronics manufacturing companies from Japan are shifting their plants to China due to low production cost and abundant availability of raw materials in the country. Requirement of raw materials such as polystyrene has increased significantly due to the shift of manufacturing bases to China. Demand for polystyrene & EPS in North America is anticipated to experience sluggish growth due to prohibition of polystyrene in food packaging application in the region. The building & construction industry is estimated to be the fastest growing application segment in North America as polystyrene is used in thermal insulation roofing and flooring. Demand for polystyrene & EPS in Europe is projected to increase at a moderate growth rate in the next few years.
The global polystyrene & EPS market is highly fragmented; there is no clear leader in the market. Some multinational companies exhibit a high degree of forward integration and develop application-specific polystyrene & EPS products. Key players in the market include S.C. Adeplast S.A., BASF SE, INEOS Styrenics, Kaneka Corporation, Nova Chemicals Corporation, Owens Corning, Total Petrochemicals & Refining USA, and Synthos S.A.
Polystyrene is a thermoplastic polymer, synthesized by polymerization of styrene monomer. Raw materials for styrene synthesis include ethylbenzene and benzene. Polystyrene melts when heated above its melting temperature and becomes rigid when allowed to cool. This property is used in the manufacture of different components using extrusion, molding and vacuum forming. Expandable polystyrene (EPS) is a type of polystyrene that is expanded with the help of air and fused together to form blocks. The quantity of beads used in blocks determines the density of blocks. Properties of EPS include rigidity, lightness in weight, excellent thermal insulation and relatively cheap. Other forms of polystyrene include extruded polystyrene (XPS), general purpose polystyrene (GPPS) and high impact polystyrene (HIPS).
Growing demand from packaging industry in BRICS nations and global consumer electronics industry is expected to fuel the growth of the global polystyrene & EPS market. Volatility in prices of raw materials and availability of high performance substitutes is anticipated to hamper market growth during the forecast period. Recycling of polystyrene is likely to create opportunities for the players in the market.
The report covers analysis and forecast for the global polystyrene & EPS market in terms of volume (kilo tons) and revenue (USD million) from 2013 to 2020. The market has been segmented based on types of products and applications by analyzing current and future trends of the market. The market has been segmented based on product types as polystyrene and expandable polystyrene (EPS). In terms of applications, the market has been segmented into building & construction, electrical & electronics, packaging and others. Other applications include plastic cutlery, plastic models, petri dishes, disposable razors, CD cases, etc.
The report includes regional segmentation with estimates and forecast for North America, Europe, China, Rest of Asia Pacific and Rest of the World. Each region has been further analyzed for each product type and application segment. The market size and forecast for each region has been provided for the period 2013 to 2020 along with the CAGR (%) for the forecast period from 2014 to 2020.
The report also comprises a detailed value chain analysis that offers a comprehensive view of gross value addition at each stage of the value chain. The report provides Porter’s five forces model, which analyzes bargaining power of suppliers, bargaining power of buyers, existing competition, threat from new entrants and threat from substitutes. The report includes drivers and restraints affecting growth of the polystyrene & EPS market and their impact on the market in the near future. Additionally, it provides opportunities for the polystyrene & EPS market during the forecast period on the global level. Furthermore, the report includes market shares of major companies operating in the global polystyrene & EPS market. Market share of companies has been evaluated based on their production capacities in 2013. The report also provides market attractiveness based on applications included in the scope of the study.
The report comprises company profiles of major players in the market. Company profiles include company overview, product portfolio, financial overview, business strategies, SWOT analysis and recent developments. Major players analyzed in the report include S.C. Adeplast S.A., BASF SE, INEOS Styrenics, Kaneka Corporation, Nova Chemicals Corporation, Owens Corning Corporation, Total Petrochemicals & Refining USA, Inc. and Synthos S.A.
To compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders were conducted to compile this research report. Primary research represents bulk of our research efforts, supplemented by an extensive secondary research. We have reviewed the key players’ product literature, annual reports, press releases and relevant documents were reviewed for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. Secondary research sources typically referred to include company websites, statistical databases, financial reports, investor presentations, annual reports, news articles, press releases and national government documents.
This report segments the global polystyrene & EPS market as follows:
Polystyrene & EPS Market - Product Segment Analysis
- Expandable polystyrene (EPS)
Polystyrene & EPS Market - Application Analysis
- Building & construction
- Electrical & electronics
- Others (Including plastic cutlery, plastic model assembly kits, petri dishes, CD cases, disposable razors, etc.)
Polystyrene & EPS Market - Regional Analysis
- North America
- Rest of Asia Pacific
- Rest of the World (RoW)