Polystyrene Foam Market by Resin Type (Expanded Polystyrene and Extruded Polystyrene), End-use Industry (Industrial Insulation, Packaging, Building and Construction, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026689 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 27.5 billion mark in 2022 and is expected to hit US$ 38.7 billion by 2030, recording a CAGR of 4.5% during the forecast period.

Polystyrene foam market has been significantly growing with the development of green buildings

The global construction market has witnessed building trend of sustainable and green construction. It is anticipated to become the rising industry globally. The US government has adopted LEED and other similar green buildings certifications for public buildings. LEED is one of the green building certification programs developed by the US Green Building Council (USGBC), with more than 96,000 LEED projects in 167 countries and territories. The certification provides building owners and operators with a framework for identifying and implementing practical and measurable green building design, construction, operations, and maintenance solutions. In addition, obtaining a LEED-certification projects a positive environmental image to the community. The infrastructure and construction industry is growing rapidly in many emerging economies. Therefore, rising infrastructure development and subsequent green or sustainable construction technologies is projected to impel the growth of polystyrene foam market.

Within the report, the market is segmented into resin type, end-use industry, and geography. By resin type, the market is further divided into expanded polystyrene and extruded polystyrene. By end-use industry, the market is further fragmented into industrial insulation, packaging and building and construction, and others. By application, the market is further divided into building material, and structural. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Rising demand of extruded polystyrene and expanded polystyrene foam in end-use industry

Extruded Polystyrene (XPS) thermal insulation board is defined as a rigid foam board having closed cell structure. Constructors utilize polystyrene foam insulation to regulate building’s internal temperature, whereas, it also has application in thermal insulation for refrigeration cabinets. The polystyrene is also used in other applications such as marine floatation and floating desks, thus creating market opportunities. These factors along with dinstict properties of expanded polystyrene foam is projected to increase the polystyrene foam demand. Rise in utilization of polystyrene foam in building, construction and packaging industries is projected to impel the polystyrene foam market during the forecast period.

High demand of appliances, food and beverages

Polystyrene foam is utilized in consumer goods as well as food and beverages packaging. The increase in demand for protective packaging is anticipated to create significant opportunities for the polystyrene foam market. The rise in demand for appliances, food and beverages is anticipated to boost the demand for polystyrene foam during the forecast period.

Recent strategic developments in polystyrene foam market

The polystyrene foam market has undergone several significant developments, and a few of these have been mentioned below:

  • In November 2020, Austrotherm expanded one of its three plants in Romania. The production capacity of plant is increased to 200,000 cubic meters/year.
  • In October 2020, Alpek S.A.B de C.V. acquired BVPV Styrenics LLC by purchasing its 100% stake. BVPV Styrenics LLC operates facility in the US, with the annual capacity of 123,000 tons of expandable polystyrene.

The polystyrene foam market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, Arkema, The Dow Chemicals Company, Versalis S.p.A and DuPont de Nemours Inc. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Polystyrene foam end users
  • Polystyrene foam manufacturers
  • Polystyrene foam -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Resin Type:
    • Expanded Polystyrene
    • Extruded Polystyrene
  • End-Use Industry:
    • Industrial Insulation
    • Packaging
    • Building and Construction
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • BASF SE
    • Arkema
    • The Dow Chemicals Company
    • Versalis S.p.A
    • DuPont de Nemours Inc.

The List of Companies
- Arkema
- The Dow Chemicals Company
- Versalis S.p.A
- DuPont de Nemours Inc.

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