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Specialty Polystyrene Resin Market by Application and Geography - Global Forecast 2019-2023

  • Published: Jul 2019
  • Pages: 131
  • SKU: IRTNTR31619
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Industry Insights

The global specialty polystyrene resin market size will grow by USD 17.65 million during 2019-2023 at a CAGR of about 3%. The increasing demand from construction and packaging applications and the growing innovations in medical devices are some of the factors expected to drive market growth. This market report provides a detailed analysis of the market by application (packaging, automotive, construction, electronics, and healthcare) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BASF SE, Eastman Chemical Co., LG Chem Ltd., Sekisui Plastics Co. Ltd., and Versalis Spa.

Specialty polystyrene resin is easier to produce and less expensive than other resins such as polyurethane, polyethylene, polystyrene, polyamide, polyvinyl chloride, and polypropylene. It also has low working temperatures and provides high electrical insulation. Specialty polystyrene resin is used in various products and applications such as food packaging, electric and electronic packaging, and disposable consumer plastic goods.

Key Insights from Specialty Polystyrene Resin Market – Global Forecast 2019-2023

Specialty-Polystyrene-Resin-Market

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Specialty polystyrene resin is preferred over traditional plastics for the manufacture of medical devices because of their better resistance to the sterilization process. Engineering resins such as polystyrene are widely used to make medical devices such as disposable electrocardiograph (ECG) electrodes and grounding plates. Factors such as the rising population, increasing per capita income, and availability of healthcare services are contributing to the growth of the medical devices market. The investments in the medical sector have also increased because of rising population and changing lifestyles. These rising investments have resulted in several innovations in the healthcare and medical devices market. This has encouraged market vendors to offer specialty polystyrene resins specifically designed for medical devices. The growing innovations in medical devices will be one of the critical specialty polystyrene resin market trends, which will have a positive influence on the growth of the market.

Specialty polystyrene resin offers better stability, durability, and strength than traditional plastics, which makes it ideal for use in various construction and packaging applications. In the construction industry, specialty polystyrene resin is used as polystyrene foam in building materials, floatation material in marinas and pontoons, and insulated panel systems for facades. Factors such as population growth and the rising middle-class population in developing countries are expected to fuel the demand for specialty polystyrene resin in the construction industry. Specialty polystyrene resin is also used for cushioning, insulating, and protecting packaged goods. The growing demand for ready-to-cook meals and packaged food and beverages will boost the demand for specialty polystyrene resin in the packaging industry. This increasing demand for specialty polystyrene resin for construction and packaging applications will drive market growth at a CAGR of about 3% during the forecast period.

Industry Analysis

Quantitative Data

  • Market size for 2018
  • Market forecast for 2019 to 2023
  • Regional market opportunities
  • Market segment opportunities
  • Growth momentum: Overall market and individual market segments
  • Market condition: 2018
  • Market segmentation based on application: packaging, automotive, construction, electronics, and healthcare
  • Market size, market forecast, and growth momentum
  • Market size and forecast in the APAC, Europe, MEA, North America, and South America
  • Market forecasts for key countries

Qualitative Data

  • Porter’s Five Forces analysis
  • Trends, drivers, and challenges
  • Vendor Landscape
  • Market structure
  • Criticality of inputs
  • Factors of differentiation
  • Market landscape disruption
  • Market maturity
  • Disruption threats
  • Factors driving disruptions
  • Competitive landscape
  • Vendor classification
  • Market positioning of vendors
  • Customer landscape
  • Market fragmentation
  • Sources of disruption

Application Insights

The application segment has been segregated into packaging, automotive, construction, electronics, and healthcare. The packaging segment accounted for the highest specialty polystyrene resin market share in 2018. During the forecast period, the packaging and healthcare segment will grow at a faster pace than the overall market. The automotive, construction, and electronics segments will grow at a slower pace than the overall market.

The rising adoption of expanded polystyrene (EPS) in several end-user industries will be one of the factors fueling the demand for specialty polystyrene resin for packaging applications. EPS is a lightweight, rigid, and closed-cell insulation material used to protect products during transportation.

Regional Insights

APAC accounted for the highest market share in 2018. The market’s growth in this region will be faster than the growth of the market in other regions, and APAC will account for the largest specialty polystyrene resin market share throughout the forecast period. China is a key market for specialty polystyrene resin in this region.

The rising demand for consumer goods such as food and beverages and electronics in APAC is expected to boost specialty polystyrene resin market growth in this region. The growth of the specialty polystyrene resin market will also be affected by the growing demand for packaging in this region.

Top Specialty Polystyrene Resin Manufacturers

The market is fragmented. To help clients improve their position, this specialty polystyrene resin market analysis report provides information on the competitive landscape and the products offered by various companies. Moreover, this specialty polystyrene resin market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of their future growth opportunities.

The report offers a detailed analysis of several leading specialty polystyrene resin manufacturers, including:

  • BASF SE
  • Eastman Chemical Co.
  • LG Chem Ltd.
  • Sekisui Plastics Co. Ltd.
  • Versalis Spa

Segments Covered in the Report

Specialty polystyrene resin market by application

  • Packaging
  • Automotive
  • Construction
  • Electronics
  • Healthcare

Specialty polystyrene resin market by region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Key Highlights of the Specialty Polystyrene Resin Market Forecast Report for the Period 2019-2023 

  • CAGR of the market during the forecast period 2019-2023 
  • Detailed information on factors that will accelerate the growth of the specialty polystyrene resin size during the next five years 
  • Precise estimation of the global specialty polystyrene resin market size and its contribution to the parent market 
  • Accurate predictions on upcoming trends and changes in consumer behavior 
  • The growth of the specialty polystyrene resin industry across APAC, Europe, MEA, North America, and South America 
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors 
  • Comprehensive details of factors that will challenge the growth of specialty polystyrene resin companies

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Market segmentation by application
  • Comparison by application
  • Packaging - Market size and forecast 2018-2023
  • Automotive - Market size and forecast 2018-2023
  • Construction - Market size and forecast 2018-2023
  • Electronics - Market size and forecast 2018-2023
  • Healthcare - Market size and forecast 2018-2023
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Growing innovations in medical devices
  • Shift in feedstock type
  • Increasing penetration of consumer electronic products

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • BASF SE
  • Eastman Chemical Co.
  • LG Chem Ltd.
  • Sekisui Plastics Co. Ltd.
  • Versalis Spa

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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