Specialty Polystyrene Resin Market is Predicted to See Lucrative Gains Over 2022-2028

The report on the Specialty Polystyrene Resin Market published by Stratview Research covers in depth details associated with the Specialty Polystyrene Resin Market.
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The Specialty Polystyrene Resin Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Specialty Polystyrene Resin Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.
Key Players
The following are the key players in the Specialty Polystyrene Resin Market:
BASF SE Corporation
Sekisui Plastics Co., Ltd.
Synthos S.A.
LG Chem Ltd.
Styropek S.A
Eastman chemical Company
Nova Chemicals Corporation
VERSALIS
Taita Chemical Co., Ltd.
SABIC.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Specialty Polystyrene Resin Market value and growth drivers over the trend period of 2022-27. According to the report –
Specialty polystyrene resin market is likely to witness a sluggish CAGR of 2.8% during the forecast period. Increasing usage of eco-friendly polystyrene by end-use industries to meet government’s criteria to reduce greenhouse gas emissions is the major factor that is contributing to the demand for specialty polystyrene resin, globally, during the forecast period.
Segment Analysis:
Based on Production Application Type:
Based on the application type, the specialty polystyrene resin market is segmented as building & construction, automotive & transportation, protective packaging, electrical & electronics, healthcare, and others. The protective packaging application segment dominates the market as it finds vast applications in the packaging industry due to the lightweight and high strength properties of specialty polystyrene resins. Further, specialty polystyrene is a material approved by the Drug Administration, which is likely to propel its growth in the healthcare industry during the forecast period.
Based on Region:
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for specialty polystyrene resins during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as healthcare, protective packaging, automotive & transportation, and others, which is generating huge demand for specialty polystyrene resins and the presence of a large number of specialty polystyrene resin manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Critical Questions Answered in the Report
• What are the key trends in the Specialty Polystyrene Resin Market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on Specialty Polystyrene Resin Market?
• What are the key strategies adopted by the major vendors to lead in the Specialty Polystyrene Resin Market?
• What is the market share of the top vendors?
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