Vietnam polystyrene market is anticipated to grow with an impressive 4.5% CAGR value during the forecast years, 2023-2027, on the backbone of rising demands for the consumer electronics Increasing applications of expanded polystyrene for insulation and construction purposes is further driving the growth of the Vietnam polystyrene market in the upcoming five years. Growing development of the infrastructures like roofs, floor, and ceilings for creating an insulated exterior, is also expected to support the growth of the Vietnam polystyrene market in the next five years.
Polystyrene is a polymer made from the monomer styrene. It is a liquid hydrocarbon that is manufactured from petroleum in large quantities. Though the compound is usually in a solid form, it can be melted at high temperatures that can then be used for molding and extrusion and then resolidified. Expanded polystyrene is much denser than polystyrene. Since the polymer is flexible and versatile, it can be cut into sheets, slabs, or any desired designs that is in accordance with the building or infrastructure code requirements. Through the process of sheathing the polystyrene and expanded polystyrene are used in renovations of the infrastructure, new constructions and consumer electronics for its compatibility with wood, steel framing, as well as masonry. The polymer is not used with petroleum-based solvents since they can dissolve the polystyrene on contact.
Benefits In Construction Drives Market Growth
Expanded polystyrene is an innovative construction material that aids the structural and design integrity to the infrastructure. Use of EPS has rapidly grown in recent years. As the growth of construction industry is expanding in the recent past and it is anticipated to grow further in the upcoming five years, the demand for the polymer is expected and is driving the growth of the Vietnam polystyrene market in the upcoming five years. Polystyrene consumption in the country was recorded to be 74 thousand tonnes in the year 2021 that is further expected to grow in subsequent years.
The polymer is also eco-friendly and the surging adaptations to green buildings and growing demands for the increase of environment-friendly material for construction., the demands for polystyrene is anticipated to grow and aid market growth likewise. It offers tangible environmental advantages thus maximizing the energy efficiency of the buildings along with providing better indoor environment quality and enhances the durability of the structure and are thus opted for larger infrastructure construction too. Although local production of polystyrene in the country is restricted to a sole producer, Cong Ty TNHH Polystyrene Vietnam. The company currently has a capacity of 40,000 TPA of expandable polystyrene production of which 50% satisfies the local demands and the rest half of the polymer is exported.
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Market Segmentation
The Vietnam polystyrene market is segmented by type, sales channel, end user, competitional landscape, and regional distribution. Based on type, the market is differentiated between general purpose polystyrene (GPPS) and high impact polystyrene (HIPS). By sales channel, the market is distinguished between direct and indirect. Based on end user, the market is bifurcated into packaging, electronics and appliances, jewelry casings, household/stationery, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern region, Central region, and Southern region.
Company Profile
Cong Ty TNHH Polystyrene Vietnam, LG Chem Ltd., Formosa Chemical & Fibre Corp, Kumho Petrochemical, The Dow Chemicals, Sabic, Nova Chemicals, Ineos, Polimeri Europa, Supreme Petrochem, among others is a partial list of major market players of the companies responsible for the growth of Vietnam polystyrene market.
| Attribute | Details |
| Base Year | 2021 |
| Historical Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | Type Sales Channel End User |
| Regional scope | Northern region, Central region, and Southern region |
| Key companies profiled | Cong Ty TNHH Polystyrene Vietnam, LG Chem Ltd., Formosa Chemical & Fibre Corp, Kumho Petrochemical, The Dow Chemicals, Sabic, Nova Chemicals, Ineos, Polimeri Europa, Supreme Petrochem |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, Vietnam polystyrene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Vietnam Polystyrene Market, By Type:
- General Purpose Polystyrene (GPPS)
- High Impact Polystyrene (HIPS)
- Vietnam Polystyrene Market, By Sales Channel:
- Direct
- Indirect
- Vietnam Polystyrene Market, By End User:
- Packaging
- Electronics and Appliances
- Jewelry Casings
- Household/Stationery
- Others
- Vietnam Polystyrene Market, By Region:
o Northern Region
o Central Region
o Southern Region
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Vietnam polystyrene market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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Table of Content- Vietnam Polystyrene Market
- Product Overview
- Research Methodology
- Executive Summary
- Impact of COVID-19 on Vietnam Polystyrene Market
- Voice of Customer
- Vietnam Polystyrene Market Outlook, 2017-2027F
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (General Purpose Polystyrene (GPPS), High Impact Polystyrene (HIPS))
6.2.2. By Sales Channel (Direct Vs Indirect)
6.2.3. By End User (Packaging, Electronics and Appliances, Jewelry Casings, Household/Stationery, Others)
6.2.4. By Region
6.2.5. By Company (2021)
6.3. Product Market Map
- North Vietnam Polystyrene Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By End User
- Central Vietnam Polystyrene Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End User
- South Vietnam Polystyrene Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By End User
- Market Dynamics
10.1. Drivers
10.2. Challenges
- Market Trends & Developments
- Policy & Regulatory Landscape
- Vietnam Economic Profile
- Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles
14.2.1. Cong Ty TNHH Polystyrene Vietnam
14.2.2. LG Chem Ltd
14.2.3. Formosa Chemical & Fibre Corp
14.2.4. Kumho Petrochemical
14.2.5. The Dow Chemicals
14.2.6. Sabic
14.2.7. Nova Chemicals
14.2.8. Ineos
14.2.9. Polimeri Europa
14.2.10. Supreme Petrochem
- Strategic Recommendations