The Asia-Pacific (APAC) region holds the largest share of the global polystyrene market. APAC has its major demand and supply of polystyrene concentrated in the north-eastern region, with China being the largest producer and consumer of polystyrene, followed by Japan, Korea, and Australia. With a majority of countries in APAC being developing economies, there is a huge demand for polystyrene-based products. Polystyrene-based products are fairly cheaper than its competitive environment-friendly alternatives, which drives the demand for polystyrene in the global market.
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In addition to this, due to the increasing industrialization and globalization, the demand for polystyrene has been increasing continuously in recent years. The need for polystyrene is growing in industries such as packaging, disposable utensils, and electrical & electronics, among others. More opportunities are coming up in the developing regions such as Asia and Africa.
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In-depth profiling of the key players have been conducted, along with the recent developments (including new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the global polystyrene market.
BASF SE (Germany), Styrolution Group (Germany), Videolar S/A.(Sao Paulo), SABIC (Saudi Arabia), Formosa Plastic Corporation (Taiwan), and others [including Kumho Petrochemicals Ltd. (South Korea), Chi Mei Corporation (Taiwan), and The Dow Chemical Company (U.S.)]. In North America, Styrolution decided to consolidate its polystyrene capacity in order to strengthen its business in the region. It would also expand its capabilities in high-performance transparent styrenics by supplying in the European, Middle Eastern, and African regions.
