Polystyrene Foam Market was valued at USD 27.59 Billion in 2022, and it is expected to reach USD 36.92 Billion by 2029, exhibiting a CAGR of 4.25 % during the forecast period (2023-2029)
Polystyrene Foam Market Overview:
The Polystyrene Foam Market analysis provides a comprehensive picture of competition, including the market share and company profiles of the worldwide industry’s top rivals. The research scope covers a complete analysis of the Polystyrene Foam Market, as well as the causes for variances in the industry’s growth in various places
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Polystyrene Foam Market Scope:
To identify and collect material suitable for this study, this research study makes considerable use of secondary sources, directories, and databases, such as annual reports, press releases, journals, corporate websites, and databases.
Polystyrene Foam Market Drivers:
Packaging foam is often used as a cushioning material for boxes, and it is noted for its versatility and ability to be tailored. Foams are utilised in a wide range of packaging applications where maximum protection and durability are required. In the building and food packaging sectors, polystyrene foam is primarily utilised as thermal insulation. In recent years, there has been a huge growth in demand for polystyrene foam. Online purchasing for items is gaining in popularity. For fragile objects, foam wrap has been utilised as an alternative to bubble wrap. Foam wrap is popular since it is thin, light, and easy to work with.
Regions, like North America, Asia-Pacific, and the Middle East, have seen a huge demand for cold-chain transport boxes, transport containers, and fastfood packaging. Furthermore, with the introduction of numerous meal delivery applications, the food delivery service has been steadily expanding over the years. Polystyrene foam or expanded polystyrene foams are commonly used as food packaging because they can keep food at a comfortable temperature and keep it fresh. With the e-commerce market rapidly expanding and individuals increasingly adopting and preferring online shopping for anything from FMCG items to medications, gadgets, and food, etc. Thus, the rise of e-commerce, the food packaging industry, and online commerce has resulted in the exponential growth of the packaging sector, with increased awareness and adoption of green packaging expected to have a potentially beneficial influence on the polystyrene foam market in the future years.
Polystyrene Foam Market Segmentation:
by Foam Type
Expanded Polystyrene (EPS)
Extruded Polystyrene (XPS)
Others
by End-User
Building & Construction
Packaging
Construction & Industrial Insulation
Others
by Process Type
Extruded
Injection Molded
Vacuum Formed
Others
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Polystyrene Foam Market Key Players: The key players are
1. DowDuPont Inc. (US)
2. Drew Foam (US)
3. Flint Hills Resources (US)
4. AFP-sealed air (US)
5. Alpek (Mexico)
6. Carpenter Co. (US)
7. Dart Container Corporation (US)
8. Nova Chemicals Corp (Canada)
9. Jiangsu Leasty Chemicals Co., Ltd. (China)
10.Wuxi Xingda New Foam Plastics Materials Co., Ltd. (China)
11.Taita Chemical Co., Ltd. (Taiwan)
12.Kaneka Corporation (Japan)
13.JSP Corporation (Japan)
14.BASF SE (Germany)
15.Xella International (Germany)
16.Synthos S.A (Poland)
17.Sunpor Kunststoff GmbH (Austria)
18.SUNPOR Kunststoff GmbH (Austria)
19.Versalis S.p.A (Italy)
20.ChovA (Spain)
21.Knauf Insulation (Belgium)
22.SABIC (Saudi Arabia)
23.Arkema S.A. (France)
24.Kingspan Group (Ireland)
25.O. N. Sunde AS (Norway)
Ravago Group (Belgium)
Regional Analysis:
Individual market influencing elements and changes in market legislation that affect current and future market trends are also included in the regional component of the Polystyrene Foam Market study. Current and future trends are examined to assess the entire market potential and uncover profitable trends to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
Key Questions Answered in the Polystyrene Foam Market Report are:
Which sub-segment had the largest share in the Polystyrene Foam Market?
How is the competitive landscape of the Polystyrene Foam Market in 2023?
Which are the key drivers impacting the Polystyrene Foam Market growth?
Which region holds the maximum share in the Polystyrene Foam Market?
What will be the CAGR of the Polystyrene Foam Market during the forecast period (2023-2029)?
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