Global demand for polystyrene will drive the market for this crucial material up to $28.2 billion (£18 billion, €25.5 billion) by 2019.
Polystyrene
This is according to a fresh report published by ReportLinker, 'Global polystyrene market by application, by region - forecast to 2019', which covers the importance of the polystyrene's three key submarkets and forecasts the global polystyrene market to grow from $22 billion in 2014 by a CAGR of 5.1 per cent by 2019.
The research provides value chain analysis with regards to raw materials, manufacturers and application verticals. The value chain describes the key contributors to the materials market at varying stages from product development to end use, representing the top players in this field including BASF, Styrolution, SABIC and Videolar, which are focusing their production capacities on achieving a competitive advantage in the market.
The global polystyrene market has been segmented based on different applications including: packaging, construction, electronics and appliances, with packaging expected to dominate the polystyrene market between now and 2019.
Asia-Pacific has been earmarked as the region that will contribute the most to the global market, having accounted for more than one-third (38 per cent) of worldwide supply in value terms. China is leading the region thanks to its competitive labour costs and chap raw materials, while emerging economies such as Brazil are anticipated to play a larger role in the years to come.
The full report can be accessed via the ReportLinker website.