Dublin, Jan. 21, 2019 (GLOBE NEWSWIRE) -- The "Specialty Polystyrene Resin Market by Function (Protection, Insulation, Cushioning & Others), Application (Protective Packaging, Building & Construction, Automotive & Transportation, Electronics, Healthcare), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The specialty polystyrene resin market size is projected to grow from USD 111 million in 2018 to USD 126 million by 2023, at a CAGR of 2.64% during the forecast period.

The major functions of specialty polystyrene resin covered in this report are insulation, protection, and cushioning & others (rheological, multi shock-proof). The protection function market is expected to hold the largest market share during the forecast period. The market is driven by the increased demand from end-use industries such as packaging, building & construction, automotive, and others. Focus on the reduction of greenhouse gas emissions and strict government regulations on the construction of energy-efficient buildings are expected to drive the demand for specialty polystyrene resin.

The growth of the market is primarily driven by the increasing use of plastic packaging for better performance in emerging economies such as India, China, Middle East, Thailand, Indonesia, Brazil, and Argentina. China continues to hold the largest market share in APAC as well as globally. Increase in purchasing power parity and increasing preference for packed and hygienic food are some of the major drivers responsible for the growth of the specialty polystyrene resin packaging industry.

Currently, the North American and European specialty polystyrene resin products are appreciated for their high quality, and they enjoy significant brand recognition over many Asian products. However, the manufacturers in these regions face tough competition in APAC because the cost is an important factor for the customers in this region, and the local manufacturers are successful in providing specialty polystyrene resin with similar properties at a lower cost.

Restraining factor for the specialty polystyrene resin market is the volatility in crude oil prices and the availability of substitute products. The rise in raw material prices will dampen the overall market growth. Also, the availability of high-performance substitutes, such as metal and wood, in developing countries is expected to restrain the demand for specialty polystyrene resin during the forecast period. The ease of recycling the specialty polystyrene resin product is creating ample opportunity for the manufacturers.

Globally, million pounds of polystyrene resin is recycled and reused to make a variety of products, from recycled-content foam packaging to durable goods and innovative new building products. New end-use markets are driving the recycling gains along with progress in recycling technology, integrated chain management principles, and collaborative collection programs.

The specialty polystyrene resin market is highly consolidated with fewer manufacturers such as Sekisui Plastics Co., Ltd. (Japan), SYNTHOS (Poland), and LG Chem, Ltd. (South Korea).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for Players in the Specialty Polystyrene Resin Market
4.2 Specialty Polystyrene Resin Market Size, By Function
4.3 Specialty Polystyrene Resin Market, By Application
4.4 Specialty Polystyrene Resin Market, By Region
4.5 APAC Specialty Polystyrene Resin Market, By Application and Key Countries
4.6 Specialty Polystyrene Resin Market Size, Developed vs. Developing Countries
4.7 Specialty Polystyrene Resin Market Attractiveness

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Growth of Automotive Application
5.2.1.2 Construction and Packaging Industries are the Major Markets for Specialty Polystyrene Resin.
5.2.2 Restraints
5.2.2.1 Volatility in Crude Oil & Raw Material Prices
5.2.2.2 Availability of High-Performance Substitutes
5.2.3 Opportunities
5.2.3.1 Polystyrene Products Can Be Recycled Easily
5.3 Challenges
5.3.1.1 Growing Preference Toward Molded Pulp Packaging
5.3.1.2 Ban on Eps in the Major Economies Threatens the Eps Manufacturers
5.4 Porter's Five Forces Analysis
5.5 Macroeconomic Indicators
5.5.1 Introduction
5.5.2 Trends and Forecast of GDP Positively Driving the Packaging Industry
5.5.3 Trends in the Automotive Industry
5.5.4 Construction Industry Spending Worldwide, 2017-2025
5.5.5 Estimated Growth Rate of Consumer Electronics Industry, By Region, 2018-2022

6 Specialty Polystyrene Resin Market, By Function
6.1 Introduction
6.1.1 Protection Function Accounted for the Largest Market Size, Globally
6.2 Protection
6.2.1 Increased Automobile Production and Healthcare Expenditure in APAC Drive the Specialty Polystyrene Resin Market in Protection Function
6.3 Insulation
6.3.1 Building & Construction Activities in APAC Drive the Specialty Polystyrene Resin Market in Insulation Function
6.4 Cushioning and Others
6.4.1 Growing Furniture & Bedding Industry in APAC Drives the Specialty Polystyrene Resin Market in Cushioning Function

7 Specialty Polystyrene Resin Market, By Application
7.1 Introduction
7.1.1 Protective Packaging Application is Expected to Lead the Specialty Polystyrene Resin Market
7.2 Protective Packaging
7.2.1 APAC to Lead in the Protective Packaging Segment of the Specialty Polystyrene Resins Market
7.3 Building & Construction
7.3.1 APAC to Lead in the Building & Construction Segment of the Specialty Polystyrene Resins Market
7.4 Automotive & Transportation
7.4.1 APAC to Lead in the Automotive & Transportation Segment of the Specialty Polystyrene Resins Market
7.5 Healthcare
7.5.1 APAC to Lead in the Healthcare Application Segment of the Specialty Polystyrene Resins Market
7.6 Electrical & Electronics
7.6.1 APAC to Lead in the Electrical & Electronics Application of the Specialty Polystyrene Resins Market
7.7 Others

8 Specialty Polystyrene Resin Market, By Region
8.1 Introduction
8.2 APAC
8.3 North America
8.4 Europe
8.5 Middle East & Africa
8.6 South America

9 Competitive Landscape
9.1 Introduction
9.2 Competitive Scenario
9.2.1 Merger & Acqusition
9.2.2 New Product Launch
9.2.3 Investment & Expansion
9.2.4 Distribution & Agreement

10 Company Profiles

• Atlas Roofing
• BASF SE
• Eastman Chemical Company
• Ineos Styrolution Group GmbH
• Innova
• Jackon GmbH
• Knauf Insulation
• LG Chem Ltd.
• Nova Chemicals Corporation
• Pacur, Llc.
• Polysource
• RAPAC
• SABIC
• Samsung Fine Chemicals Co. Ltd.
• Sekisui Plastics Co., Ltd.
• Styrochem
• Styropek
• Sunpor Kunststoff GmbH
• Synthos S.A.
• Taita Chemical Co., Ltd.
• Total S.A.
• Trinseo
• Versalis S.P.A.

For more information about this report visit https://www.researchandmarkets.com/research/b3pj5h/100_million?w=12

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Related Topics: Plastics, Plastic Resins