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Specialty Polystyrene Resin Market Trends

Report ID: GMI7435
Published Date: Nov 2023
Report Format: PDF

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Specialty Polystyrene Resin Market Trends

The specialty polystyrene resin industry is experiencing a shift in demand towards more environmentally friendly and biodegradable options, especially in the packaging sector. With a rise in the utilization of polystyrene resins in the electronics industry for their lightweight and high-performance capabilities, we are also seeing advancements in thermal and mechanical properties, leading to a broader application range in the automotive and construction fields. However, concerns regarding sustainability and the challenges of recycling continue to play a major role in industry decision-making, prompting collaborative efforts to address environmental impact.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for specialty polystyrene resin was valued at around USD 122.8 million in 2022 and is estimated to reach USD 157.2 million by the end of 2032 as the product is gaining grounds in the electronics industry across lightweight and high-performance applications.

Protective packaging segment share was around 59% in 2022 and is expected to grow at a lucrative pace by 2032 due to the growing demand for efficient and sustainable packaging solutions fueled by the rise in e-commerce.

U.S. specialty polystyrene resin industry share was USD 36.8 million in 2022 and is anticipated to expand at a significant pace from 2023-2032 due to the significant shift towards eco-friendly options for packaging, as consumers become more environmentally conscious.

Styron (Dow), INEOS Styrolution, SABIC, LG Chem, Braskem, TotalEnergies, Sinopec, China Petrochemical Corporation (Sinopec), BASF, ExxonMobil, Formosa Plastics Corporation, Asahi Kasei, Mitsubishi Chemical Corporation, Toray Industries, and Sumitomo Chemical.