Published September 2023
Polystyrene (PS) is a thermoplastic polymer of styrene known for its versatility and offers high heat resistance, solid chemical strength, and notable rigidity that can be molded into objects or made into a foam and used as thermal insulation. General-purpose polystyrene (GPPS) and high-impact polystyrene (HIPS) are the most commonly used polystyrene resins for injection molding. GPPS is clear and brittle (e.g., compact disc cases), while HIPS is opaque and more durable. Polystyrene is also used to make a wide variety of consumer products, appliances, electronics, foam construction material (extruded polystyrene and XPS), automobile parts, toys, gardening accessories and medical equipment. However, the controversial PS packaging market, which accounts for about one-third of global demand, continues to be affected by negative consumer perception as environmental pressure deepens, leading converters to consider other alternatives to polystyrene.
The following chart presents world consumption of polystyrene:
The global polystyrene market has undeniably suffered from an oversupply of capacity and weakening demand growth over the last decade. To survive, polystyrene producers responded by consolidating their capacity in many regions over the last decade through many mergers and acquisitions. Further rationalization is likely in the more mature markets, since domestic demand is generally weaker and their exports are limited by a lack of competitiveness. In contrast, developing markets for polystyrene, such as the Middle East, Africa and mainland China, are focusing on increasing market share; mainland China has been steadily expanding its polystyrene capacity and now accounts for more than one-third of the global total in 2022.
Northeast Asia is the largest and most influential player in the global polystyrene market. Mainland China dominates the polystyrene market in Northeast Asia, contributing over three-quarters of regional demand and nearly 90% of regional imports. Most Northeast Asian producers operate swing plants that provide the flexibility to switch between GPPS and HIPS production, allowing the producer to select the product with better demand or returns. However, stand-alone GPPS or HIPS plants have better cost efficiency owing to the production of fewer grades and, in turn, less downtime.
For more detailed information, see the table of contents, shown below.
S&P Global’s Chemical Economics Handbook –Polystyrene is the comprehensive and trusted guide for anyone seeking information on this industry. This latest report details global and regional information, including
Key benefits
S&P Global’s Chemical Economics Handbook –Polystyrene has been compiled using primary interviews with key suppliers and organizations, and leading representatives from the industry in combination with S&P Global’s unparalleled access to upstream and downstream market intelligence and expert insights into industry dynamics, trade, and economics.
This report can help you
- Identify trends and driving forces influencing chemical markets
- Forecast and plan for future demand
- Understand the impact of competing materials
- Identify and evaluate potential customers and competitors
- Evaluate producers
- Track changing prices and trade movements
- Analyze the impact of feedstocks, regulations, and other factors on chemical profitability
