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NEW YORK , Feb. 23, 2022 /PRNewswire/ -- The polystyrene (PS) market size in Europe is expected to increase by USD 1.20 billion from 2021 to 2026, accelerating at a CAGR of 4.20% during the forecast period. The rising demand for food, healthcare, personal care, and household products has been continuously creating growth opportunities for vendors in the market. Besides, the reviving building sector and the increasing demand for bio-based EPS among building and construction, transportation, electronics, and packaging industries in Western Europe are expected to offer several growth opportunities for market players.
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The report on the polystyrene (PS) market in Europe provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
The report identifies increasing demand from the electrical and electronics industry as one of the major factors driving the growth of the market. Polystyrene offers effective thermal insulation and ensures lightweight packaging, which has made it a major part of the electronics industry. It is extensively used in the packaging of electronic and electrical appliances such as blenders, washing machines, air conditioners, personal computers, scanners, and television screens. With the growth of the global electronics industry, the market will witness an accelerated demand for polystyrene during the forecast period.
In addition, the high insulation and cushioning properties and high durability of polystyrene will further accelerate the market demand. However, fluctuations in crude oil prices will reduce the growth potential in the market.
The polystyrene (PS) market in Europe is segmented by end-user (building and construction, packaging, and others) and geography (Germany , UK, Italy , France , and the Rest of Europe ).
The demand for polystyrene was significant from end-users in the building and construction industry in 2021. The segment is driven by the increasing number of residential and non-residential and commercial buildings across Europe . Also, the expanding applications of polystyrene in the construction industry such as facades, walls, roofs, and floors; as floatation material in marinas and pontoons; and as lightweight fill for railway and road construction are contributing to the growth of the segment.
By geography, the Rest of Europe region will have the largest share of the market during the forecast period. However, Germany will remain the key market for polystyrene in Europe . Many companies operating in the country are collaborating to increase the recycling of polystyrene and reduce their carbon footprint. In addition, the government in the country is focusing on enhancing energy efficiency in existing, renovated, and new buildings by introducing new regulations. These factors are propelling the growth of the regional market in Germany .
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. The polystyrene (PS) market in Europe covers the following areas:
Polystyrene (PS) Market Sizing Polystyrene (PS) Market Forecast Polystyrene (PS) Market Analysis
BASF SE: The company offers General Purpose Polystyrene, which is a crystal-clear, high-performance polymer, and is easy to process.
DuPont de Nemours Inc.: The company offers STYROFOAM Brand Square Edge Insulation that is an extruded polystyrene foam insulation that resists water pickup.
INEOS Styrolution Group GmbH: The company offers polystyrene through depolymerization.
Kumho Petrochemical Co. Ltd.: The company offers expandable polystyrene which is a foam resin manufactured by immersing foaming agent to polystyrene resin and an eco-friendly product with little residual volatile matter.
LG Chem Ltd.: The company offers polystyrene that is used in many areas such as disposables, small home appliances, stationeries depending on the respective properties.
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Polystyrene (PS) Market in Europe Scope
Accelerate at a CAGR of 4.20%
Germany, UK, Italy, France, and the Rest of Europe
Leading companies, competitive strategies, consumer engagement scope
BASF SE, DuPont de Nemours Inc., INEOS Styrolution Group GmbH, Kumho Petrochemical Co. Ltd., LG Chem Ltd., SABIC, Synthos SA, TotalEnergies SE, Trinseo SA, and Versalis SpA
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
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