Brominated Polystyrene Market, by Type (High Molecular Weight BPS, and Low Molecular Weight BPS), by Application (Polyamide, Polybutylene Terephthalate, Polyethylene Terephthalate, and other), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published In : May 2022

Code : CMI5027

Pages :140

Formats :

Excel and PDF

Industry : Bulk Chemicals

Brominated Polystyrene MarketSize and Trends

The global brominated polystyrene market is estimated to surpass US$ 905.03 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 6.3% during the forecast period (2021 to 2028).

Market Trends

According to the WEEE (Waste Electrical and Electronic Equipment) directive, plastics containing BPS have to be separated before further treatment of the waste. The objective of these regulations is to ensure that e-waste is effectively recovered and recycled, and that new equipment does not contain problematic substances.

The Brominated Polystyrene (BPS) market for the chemical industry is expected to grow at a significant rate during the forecast period. The growing demand from end-user industries such as automotive, construction, home appliances, and others is anticipated to drive growth in this application segment.

Figure 2. Global Brominated Polystyrene Market Revenue Share (%), By Application, 2020

On the basis of application, in 2020, polyamide held largest revenue share of 62.5% in global brominated polystyrene market. The surging need for enhancing durability and tensile strength by producing polyamide 6 and polyamide 66 polymers is projected to augment the market growth for this segment. These polyamides are largely used for the production of a variety of textiles, plastics, and automotive components. Thus, increasing demand for textiles is expected to drive the demand for polyamides. For instance, according to IBEF (India Brand Equity Foundation), the textile and apparel market in India was valued at US$ 100 billion in 2019 and is expected to exhibit a CAGR of 12% to reach US$ 200 billion by 2026.