Asia Pacific Specialty Polystyrene Resins Market Report Description:
Asia Pacific Specialty Polystyrene Resins market report gives comprehensive outlook on Specialty Polystyrene Resins across the region with special emphasis on key countries such as India, China, Japan, ASEAN, and Rest of Asia Pacific. The report on Asia Pacific Specialty Polystyrene Resins market gives historical, current, and future market sizes (US$ Mn) on the basis of polymer type, compound type, end user. This report studies Asia Pacific Specialty Polystyrene Resins market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Asia Pacific Specialty Polystyrene Resins market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Asia Pacific Specialty Polystyrene Resins market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Asia Pacific Specialty Polystyrene Resins market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in Asia Pacific Specialty Polystyrene Resins products.
Asia Pacific Specialty Polystyrene Resins Market:
The Asia Pacific Specialty Polystyrene Resins market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Specialty polystyrene resins has a wide range of properties that makes it an ideal candidate for its use in various industries. It exhibits good film stiffness, decent water resistance, fast air dry, well-adjusted to deprived elasticity. Specialty polystyrene is used as for smoothing sealers, as a spray in coatings and primers, furniture and flat-board surfaces, among others. These are the major factors expected to drive the market. Moreover, polystyrene resin provides physical and mechanical forte in the packaging application. It is also considered to be the most versatile type of polymer foam which further raises the demand for polystyrene resins. However, the varying strategies of prominent corporations, fluctuating prices of raw materials diminishes the growth of market.
Healthcare and Automotive Boosts the Demand for Specialty Polystyrene Resins
Healthcare sector is one of the growing end user for specialty polystyrene resins especially for medical packaging as it protects the product, and provides greater degree of safety. Stiffness, transparency, resistance to heat and superior rigidity are the feature exhibited by resins. Properties that assistant medical device solicitations include chemical resistance to fight against infections, sterilization constancy, biocompatibility which makes it an ultimate for medical industry. The Such polymers are also used in automotive industries to make different vehicle hardware parts such as door panels, dashboards, flooring and engine components. It further helps to reduce the weight and vehicles and mends the fuel effectiveness. Automotive industry is experiencing a tremendous growth as the industry relies heavily on coatings to protect the critical components of vehicles. It protects the plastic and metal component from corrosion. Increase in demand for vehicles and two wheelers further accelerates the growth of automotive segment.
China Accounts for Larger Market Revenue Share in Asia Pacific Specialty Polystyrene Resins Market
Asia Pacific is projected to lead the global market with a CAGR of XX% during the forecast period. Easy accessibility of raw materials, low cost of labor, are driving the market growth in this region. China continues to dominate the Asia Pacific market owing to the large population and high purchasing power of consumers
Key player’s profiles in the Asia Pacific Specialty Polystyrene Resins market include:
- Dow Elastomers
- Celanese Corporation
- CSP Technologies, Inc.
- Eastman Chemical Company
- Scientific Polymer Products, Inc.
- 3M Advanced Materials Division
- Toray Industries (America), Inc.
Various tactics such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others are adopted by key market players to increase their footprints in this market. For instance, In June 2018, BASFF SE announced the expansion of “Neopor”, their expandable polystyrene containing graphite. This expansion is a result of increased demand for the product from various regions of the world. The expansion is expected to increase by 40,000 metric tons annually at the two production sites in Ludwigshafen, Germany and Ulsan, Korea.
Key Findings of the Report:
- Asia Pacific Specialty Polystyrene Resins market expanding at significant CAGR over 2019 to 2025 due to adoption of green chemistry in organic synthesis.
- Based on end user, healthcare segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in Asia Pacific Specialty Polystyrene Resins market
By Polymer Type
By Compound Type
- Casting Resin
- Molding Resin
- Film Grade Resin
- Extrusion Grade Resin
By End User
- Building and construction
- Food manufacturing
- Asia Pacific
- Rest of Asia Pacific
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market