Asia-Pacific Polystyrene (PS) Market - Segmentation by Product Type, End-user Industry, and Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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The demand for Asia-Pacific Polystyrene (PS) market was valued at USD 13.4 billion in 2017 and is expected to expand at a CAGR of 5.74%, during 2018 - 2023. Polystyrene (PS) is a multipurpose polymer available for a variety of applications due to its light weight, rigidity, and thermal and acoustic insulating properties.

Growing Consumer Electronics Market

Continuously changing technology and the decreasing price range of products are the key driving factors for consumer electronics globally. Emerging economies such as China, India, etc., are new markets and showing huge potential for growth. Increasing demand from developing economies owing to rising tech astute population are key factors for the consumer electronics industry growth. Polystyrene is an important product used in numerous applications in consumer electronics such as housing for TVs and all kind of IT equipment. It is also a favorable choice for media enclosures, cassette tape housing, and clear jewel boxes to protect CDs and DVDs. The growing consumer electronics industry in these regions is expected to drive the polystyrene market.

Electrical & Electronics – The Fastest Growing Segment by Usage

The electrical & electronics industry is the fastest growing end-user segment of the PS market. PS is used widely in the electrical & electronics industry, owing to its properties such as good thermal insulation and high stiffness, in addition to being lightweight and cost-efficient. The electronics industry in Asia-Pacific is expected to observe major growth, as China is one of the biggest global manufacturers; South Korea and Japan come next in terms of expected growth rates. China also has the largest semiconductor manufacturing market globally. In India, the demand for electronics products and systems is expected to expand at a CAGR of 24.1%, according to the Electronic Industries Association of India, which is anticipated to further drive the domestic production through the years.


China to Lead the Market

China is an emerging economy and is the largest in terms of purchasing power parity. The electronics market has grown in the recent past, with innovations and advanced technology implementations. Electronic products such as smartphones, OLED TVs, tablets, etc., have the highest growth in the market in the consumer electronics segment. The demand for PS in China has remained strong over the past few years, owing to increased electrical, electronics, and packaging applications. The availability of raw materials and low cost of production are estimated to promote the demand in the PS market during the forecast period.

Notable Developments

  • August 2017: INEOS Styrolution to expand its compounding capacity for styrenic polymers in India

Major Players: BASF SE, Nova Chemicals, DowDuPont, and Formosa Plastics, among others.

Reasons to Purchase the Report

  • To understand the impact of end-user applications on the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Countries expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3 month analyst support, along with the Market Estimate sheet (in Excel)

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1. Introduction

                1.1 Research Phases

                1.2 Scope of the Market

                1.3 Study Deliverables

2. Executive Summary

3. Market Insights

                3.1 Industry Value Chain Analysis

                3.2 Industry Attractiveness - Porter's Five Forces Analysis

                                3.2.1 Bargaining Power of Suppliers

                                3.2.2 Bargaining Power of Consumers

                                3.2.3 Threat of New Entrants

                                3.2.4 Threat of Substitute Products and Services

                                3.2.5 Degree of Competition

4. Market Dynamics

                4.1 Drivers

                                4.1.1 Growing Consumer Electronics Market

                                4.1.2 Cost-effectiveness

                                4.1.3 Growth in End-user Industries

                4.2  Restraints

                                4.2.1 Increasing Environmental and Health Concerns 

                4.3 Opportunities

                                4.3.1 Innovative Product Approaches by Companies

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)

                5.1 By Product Type

                                5.1.1 Foams

                                5.1.2 Composites

                                5.1.3 Expanded Polystyrene

                                5.1.4 Fibers

                                5.1.5 Films & Sheets

                                5.1.6 Others

                5.2 By End-user Industry

                                5.2.1 Packaging

                                5.2.2 Building & Construction

                                5.2.3 Electrical & Electronics

                                5.2.4 Consumer Goods

                                5.2.5 Others

6. Regional Market Analysis (Market Size, Growth, and Forecast)

                6.1 China

                6.2 India

                6.3 Japan

                6.4 South Korea

                6.5 Rest of Asia-Pacific

7. Competitive Landscape

                7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

                7.2 Market Share Analysis***

                7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)

                8.1 BASF SE

                8.2 Covestro

                8.3 DowDuPont

                8.4 SABIC 

                8.5 Lanxess AG

                8.6 Total S.A.

                8.7 Formosa Plastics Group

                8.8 Americas Styrenics

                8.9 INEOS Styrolution

                8.10 Zhenjiang Chimei Chemical Co., Ltd

                8.11 PS Japan Corporation

                8.12 Trinseo LLC

                8.13 TOTAL Gestion USA

                8.14 Ineos Nova LLC

                8.15 Total Petrochemicals

                8.16 Owens Corning

                8.17 Nova Chemicals Corporation

                *List not exhaustive

9. Disclaimer

**Subject to availability on Public Domain

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