Polystyrene-Plastic Material And Resins Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Polystyrene-Plastic Material And Resins Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, September 3, 2024 /EINPresswire.com/ -- The polystyrene-plastic material and resins market has experienced robust growth in recent years, expanding from $45.72 billion in 2023 to $52.15 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to packaging industry, construction and insulation, consumer goods and electronics, food service industry.

Strong Future Growth Anticipated
The polystyrene-plastic material and resins market is projected to continue its strong growth, reaching $85.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to sustainability and recycling, circular economy initiatives, construction and infrastructure development, consumer goods and electronics innovation.

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Growth Driver Of The Polystyrene-Plastic Material And Resins Market
The increasing demand for medical devices is expected to propel the growth of the polystyrene-plastic material and resins market going forward. Medical devices refer to a broad category of instruments, apparatuses, machines, implants, or other similar articles that are specifically designed and intended for use in diagnosing, treating, monitoring, or preventing medical conditions, diseases, injuries, or disabilities in humans. Polystyrene (PS) plastics used in various diagnostic devices, particularly those that require transparency and the ability to view samples or reagents. For instance, lateral flow test strips, which are used for pregnancy tests and various rapid diagnostic tests, often use PS as a substrate for the test strip.

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Major Players And Market Trends
Key players in the polystyrene-plastic material and resins market include A.Schulman Inc., ACH Foam Technologies Inc., Alpek SAB de CV, Americas Styrenics LLC, Atlas Roofing Corporation.

Major companies operating in the polystyrene-plastic material and resins market are having partnerships to increase their profitability in the market.

Polystyrene-Plastic Material And Resins Market Segments:
1) By Product Type: Expandable Polystyrene (EPS), General-Purpose Polystyrene (GPPS), High-Impact Polystyrene (HIPS), Extruded Polystyrene (XPS)
2) By Application: HVAC Insulation, Rigid Packaging, Seating, Flexible Packaging
3) By End User Industry: Automotive Industry, Electronics, Thermal Insulation Industries, Pharmaceuticals, Consumer Industry, Packaging Industry, Construction Industry

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the polystyrene market in 2023. North America was the second-largest region in the global polystyrene market. The regions covered in the polystyrene-plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Polystyrene-Plastic Material And Resins Market Definition
Polystyrene is a synthetic thermoplastic material formed by polymerizing styrene. It is used in modelled products, foams, and sheet materials. Polystyrene can be melted at higher temperature for molding or extrusion, and then be re-solidified, in addition to being generally a solid thermoplastic.

Polystyrene-Plastic Material And Resins Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Polystyrene-Plastic Material And Resins Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on polystyrene-plastic material and resins market size, polystyrene-plastic material and resins market drivers and trends, polystyrene-plastic material and resins market major players, polystyrene-plastic material and resins competitors' revenues, polystyrene-plastic material and resins market positioning, and polystyrene-plastic material and resins market growth across geographies. The polystyrene-plastic material and resins market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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