The molded polystyrene report states that the development of the global molded polystyrene market is closely tied to the overall development of global economy. During the global economic depression of 2008-2009, the demand for polystyrene observed a stark decline on the global front. Since the depression, the global demand has remained moderately constant. As the global economy continues to recover further, providing a general framework for a rise in consumption of consumer goods, increased demand for new construction projects, automobiles, etc., the demand for polystyrene will further increase globally, albeit at a moderate pace. The demand is projected to remain low as compared to other standard plastics owing to advancing substitution processes and change in production technologies.
The global market of polystyrene can be chiefly segmented into three types of polystyrene used widely across the globe: expanded polystyrene (EPS), high impact polystyrene, and extruded polystyrene (XPS).
Of the key areas of application of molded polystyrene, the packaging industry is the chief consumer, particularly the segment of food packaging. In the future years, the segment of electronic and electric products is projected to lead to highest demand for polystyrene. Developments in the packaging industry are expected to remain less dynamic in the coming years; more than 100 cities in the U.S. and Canada and some in Europe and Asia are seeking to completely ban styrofoam containers owing to their extremely slow biodegradable nature. If the ban gets executed in real terms, it will lead to a decline in consumption of nearly 30,000 tons of polystyrene annually in New York alone – a worldwide ban of such kind could wipe out the overall polystyrene market.
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