The growing demand from the packaging industry is expected to propel healthy growth of the market during the forecast period, states Fortune Business Insights in a report, the market is predicted to be driven by booming food and beverage industry.
The coronavirus incident has brought the world to an unanticipated halt. We comprehend that this health disaster has destructively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic.
Request a sample PDF (includes COVID-19 Impact Analysis):
The report on the specialty polystyrene resin market contains:
- Excellent insights on the segments
- Thorough research with authoritative analysis
- Latest industry trends
- All-inclusive information about eminent players
Market Driver:
Inflated Demand for Ready-to-eat Food products to Influence Growth
The growing purchasing power of consumers is likely to contribute positively to the growth of the market. The growing awareness regarding the benefits of polystyrene owing to its lightweight and low-density single cells useful in the application of safe packaging of food products is predicted to enable speedy expansion of the market. The high demand for packaged and hygienic food is expected to bode well for the market. The growing demand for specialty polystyrene in medical laboratories, pharmaceutical products, medical devices, and packaging of essential medicines is expected to promote the growth of the market. The increasing acquisitions and partnerships among major players are expected to create lucrative business opportunities for the market. For instance, in March 2018, Atlas Roofing Corporation announced that it has signed an agreement to acquire ACH Foam Technologies a leader in North America of molded polystyrene solutions with manufacturing facilities. ACH Foam Technologies will help Atlas to grow its global reach and sales and became one of the largest molded polystyrene manufacturers.
Nevertheless, the volatile prices of crude oil is expected to retard the growth of the market in the foreseeable future. The low availability of substitute resins is expected to further dampen the growth of the market in the foreseeable future.
Regional Analysis:
Heavy Demand for Packaging Materials to Favor Growth in Asia Pacific
Asia Pacific is expected to rise excellently in the forthcoming years owing to the presence of major manufacturers in the region. The growing food and beverage industry coupled with high demand for packaging materials are factors expected to aid the speedy expansion of the market in the foreseeable future. North America is predicted to witness a high growth rate during the forecast period due to the demand for polystyrene from the packaging and healthcare industry. Europe is expected to observe substantial growth during the forecast period due to the growing demand for packaged and ready-to-eat food products in the region. The Middle East and Latin America are expected to hold a minor share in the global market owing to the growing emphasis on greenhouse gas emissions. The strict government regulations along with the high construction of energy-efficient buildings are factors predicted to drive the market in the regions.
Inquiry before buying:
https://www.fortunebusinessinsights.com/enquiry/queries/specialty-polystyrene-resin-market-102382
Key Development:
August 2016: Synthos announced the acquisition of INEOS Styrenics European Holding BV (Switzerland)’s EPS business. Through this, the company accelerated growth and introduced additional benefits to both companies ‘ consumers, providing them with exposure to new technology and an improved product portfolio
June 2018: BASF SE announced the plans for Neopor, an expandable graphite containing polystyrene, will aid to raise its global production capacity to 40,000 tonnes/year.
The Report Lists the Main Companies in the Specialty Polystyrene Resin Market:
- SUNPOR KUNSTSTOFF GmbH
- VERSALIS
- SABIC
- AB (publ)
- INEOS Styrenics European Holding BV
- Lotte Fine Chemicals
- Synthos
- BASF SE
- Atlas EPS
- LG Chem, Ltd
- BEWiSynbra Group AB (publ)
- Samsung Fine Chemicals Co
- NOVA Chemicals Corporation
Related Posts:
Wood Flooring Market Opportunities
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner – Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Connect us via Social Media Channels: