European Polystyrene market projected to grow at CAGR of 4.2% between 2014 and 2019

14-Jul-15

European Polystyrene market is projected to reach US$5518.8 mln by 2019 from US$4494.2 mlnn in 2014, at a CAGR of 4.2% between 2014 and 2019, as per Research and Markets. Industrialization, growth of plastic and rubber industry, and non-availability of alternative sources are some of the key factors driving the market growth. On the other hand, preference to organic materials and environmental impacts of using polystyrene may restrain the market growth in coming years. Based on applications, the polystyrene market is segmented into packaging, electronics, appliances, construction, and other applications. Packaging holds the maximum share of the polystyrene market. It was valued at US$1691.7 mln in 2014, and is projected to reach to US$2060.7 mln by 2019, at a CAGR of 4%. The electronics and appliances segments are growing at 5% and 4.7% respectively. Germany has the maximum share in polystyrene market. The German market was valued at US$3,042.9 mln in 2014 and is projected to reach to US$3,757 mln by 2019, at a CAGR of 4.3%.