The North American Polystyrene market is expected to reach a value of US$5730 million by 2018, estimated to register a CAGR of 5.2 % between 2013 and 2018, as the North American region is technologically advanced and cheap raw material is available, as per MicroMarket Monitor. The factors that are enhancing the growth of this market are industrialization, growth in the plastic and rubber industry, and lack of alternative sources. The growth of the polystyrene industry can be attributed to the packaging industry, where usage of polystyrene is high. The share of packaging in the polystyrene industry was approximately 38% in 2013. The players willing to enter into the polystyrene market can expect a bright future owing to increasing demand and utilization of polystyrene in different industries. In North America, the U.S. is most preferable market for polystyrene, with the maximum share.
Polystyrene Market in Europe is witnessing a high growth due to the increasing applications in the region, projected to reach US$5,733.29 mln by 2019, growing at a CAGR of around 4.2% from 2014 to 2019. The key driver of the market is the construction industry due to the growing demand of thermal insulations in the newly constructed buildings.
21-Apr-15 
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