Polystyrene Films: Introduction
- Polystyrene (PS) is a naturally transparent thermoplastic that is available in solid and foam forms. Polystyrene film is lightweight, strong, and durable. Polystyrene plastic is used in a various consumer products and commercial packaging. Three major types of polystyrene are polystyrene foams, regular polystyrene plastics, and polystyrene films. Polystyrene films are often vacuum formed, and stretched out over a specific product and sealed to prevent the air from leaking in or out. Polystyrene films are used in various packaging, laminating, and printing applications. Some grades of these films are also approved for direct food contact.
- Key applications of polystyrene films include windows in various envelops and cartons, posters and sign laminates, high gloss packaging, protective films for display screens, and dashboard automotive components
Key Drivers and Restraints of Polystyrene Films Market
- Expansion of packaging, food, and electronics industries is a key driver of the polystyrene films market. Growth in disposable income of consumers and their changing lifestyles are estimated to be major factors boosting the market.
- Expansion of the automotive industry is also propelling the market. Films made of polystyrene are used to make components of a vehicle's dashboard due to their beneficial properties.
- Rapid urbanization and rise in investments in the industrial sector are projected to augment the market. The polystyrene films market is likely to exhibit an optimistic trend during the COVID-19 pandemic.
- Recycling property of polystyrene films and their application in consumer electronics are also vital drivers of the polystyrene films market
- These films are non-biodegradable, thus causing environmental hazards. This is a key restraint of the polystyrene films market.
Polystyrene Films: Segmentation
- The polystyrene films market can be segmented based on resin type, form type, and end-user industry
- Based on resin type, the market can be divided into general purpose polystyrene (GPPS), high impact polystyrene (HIPS), and expandable polystyrene (EPS)
- In terms of form type, the market can be segregated into foams, films, and sheets
- Based on end-user industry, the market can be classified into packaging, building & construction, electrical & electronics, consumer goods, and others
Covid-19 Impact on Polystyrene Films Market
- Emergence of the new COVID strain in many developed and developing countries has adversely affected the health care infrastructure. Hospital staff, medicines, oxygen beds, and ventilators are in short supply. Graveyards and crematoriums have been working continuously to tackle the rise in dead bodies. Supply chains are facing disruptions, leading to disturbances in production activities in many countries.
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Shortage of labor due to the ongoing COVID-19 crisis and unavailability of raw materials are further expected to hamper the polystyrene films market in the near future
Asia Pacific to Dominate Polystyrene Films Market
- In terms of region, the global polystyrene films market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominates the global polystyrene films market, followed by North America. The global polystyrene films market in Asia Pacific is anticipated to expand during the forecast period due to the increase in demand for these films in end-user industries. Expansion of the polystyrene films market in Asia Pacific can be ascribed to the increase in industrialization and globalization across the region. China is anticipated to be the largest global polystyrene films market in region.
- The polystyrene films market in Middle East & Africa is anticipated to expand at a rapid pace in the next few years
Key Manufacturers Operating in Global Polystyrene Films Market
The global polystyrene films market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global polystyrene films market include:
- Atlas Molded Products
- Alpek S.A.B. de CV
- Americas Styrenics LLC (AmSty)
- BASF SE
- Formosa Chemicals & Fibre Corp
- INEOS Styrolution Group GmbH
- KUMHO PETROCHEMICAL
- LG Chem
- Versalis SpA
Global Polystyrene Films Market: Research Scope
Global Polystyrene Films Market, by Resin Type
- General Purpose Polystyrene (GPPS)
- High Impact Polystyrene (HIPS)
- Expandable Polystyrene (EPS)
Global Polystyrene Films Market, by Form Type
Global Polystyrene Films Market, by End-user Industry
- Building & Construction
- Electrical & Electronics
- Consumer Goods
Global Polystyrene Films Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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10. What will be the barrier to entry for new players in the market?
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