MOSCOW (MRC) -- The market value of polystyrene (PS) was estimated to be USD20212 mln in 2012, and is projected to grow with a CAGR of about 5.1% from 2012 to 2018, as per Plastemart with reference to Research and Markets's report.
The Asia-Pacific region emerged to be the driving factor for this market, contributing for approximately 46% of the global demand in terms of consumption in 2012.
Brazil is the leading country in the consumption of PS in the South America & MEA region, due to the availability of cheaper raw materials and high demand in plastics and related industries. The important emerging economies such as China and India are projected to witness high growth in this market in the future.
As MRC reported earlier, in May 2015, Trinseo (Hong Kong) Limited and its affiliate companies in Asia Pacific increased prices for all PS grades for Asia Pacific region. The prices for the products listed below were increased as follows:
- STYRON general purpose polystyrene grades (GPPS) - by USD150 per metric ton;
- STYRON and STYRON A-TECH high-impact polystyrene grades (HIPS) - by USD150 per metric ton.
The price increase responds to the rising costs associated with the manufacturing of polystyrene grades in Asia Pacific." said Samer Al Jabi, Global Product Director for Styrenics.
MRC