[ Jiuzhi Plastics News] In 2014, the global market for polystyrene ( PS ) and expandable polystyrene (EPS) demand reached US$32 billion. It is expected to reach US$42 billion in 2020 and compound annual growth from 2015 to 2020. The rate is about 4.5%. In terms of quantity, the global demand for PS and EPS in 2014 was 17.5 million tons. The packaging industry has been a major driver of the development of the PS and EPS industries, especially in the emerging economies of China, India, Brazil, South Africa and other emerging economies, as the demand for consumer goods continues to increase in these countries, driving demand for packaging materials continues to rise. In addition, strong growth in the food and beverage and pharmaceutical industries in emerging economies is expected to further drive demand in the packaging industry to continue to grow rapidly. However, due to environmental reasons, raw material price volatility and alternative materials are expected to pose significant challenges for PS and EPS industry participants, which may affect the industry's growth in the coming years. In addition, the recycling of PS is expected to open up new growth opportunities for industry participants.
PS and EPS are key product types in the polystyrene market. PS dominates the global market, accounting for approximately two-thirds of global market demand in 2014. However, EPS is expected to grow faster during the forecast period. Key application markets for PS and EPS include the packaging industry, electrical and electronics, construction and other applications. In the 2014 consumer demand, the packaging industry dominated the PS and EPS markets, accounting for 40% of total consumption. The electrical and electronics division is expected to be the fastest growing segment of the PS and EPS markets. By region, the Asia-Pacific region has the largest PS and EPS consumer market, accounting for more than 40% of global consumption in 2014. The Asia Pacific region is expected to continue to be the fastest growing regional market during the forecast period. Among the Asia-Pacific region, China accounts for the largest proportion of total PS and EPS consumption in the region and will continue to be the main driver of the global PS and EPS market development. Followed by Europe and North America. However, due to strict environmental regulations and growing demand for bio-based products, the market share of PS and EPS consumption in Europe and North America will decline during the forecast period.
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