Loose Fill Polystyrene Packaging Market | Key Players are Alsamex Products, Nefab Group, XPAC Technologies, Salazar Packaging, Storopack

Loose fill packaging materials offer cost-effective protection to lightweight products against vibration or shock during handling or shipping. This packaging material is flexible and therefore, fills the empty spaces in the outer packaging.

Polystyrene is conventionally used as a raw material for loose fill packaging. It is most widely used to fill the space around fragile goods in cardboard boxes, in order to ensure the safe delivery of products during shipping.

Market Dynamics

Rapid growth of online retailing is considered as a major factor for growth of the market as it requires effective packaging solutions. For instance, according to the data provided by the European Union, around 68% of internet users in Europe, shopped online in 2017. Over 8 out of 10 internet users in the U.K., had ordered or bought goods or services over the internet in 2017, according to the European Union. Thus, rising e-retailing sector is anticipated to fuel the market growth.

Further, rising number of telephone users worldwide is another factor contributing in the growth of the e- retailing sales and thus, supporting the growth of loose fill polystyrene packaging market as well. For instance, according to data provided by the US Department of Commerce, in 2017, 62% of the total mobile phone users in Malaysia used their devices to shop online.

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According to the data provided by the Central Government of India, the packaging industry was pegged at US$ 25 Bn in 2016 and is expected to reach US$ 30 Bn by 2020, at a growth rate of 15% per annum. Thus, the overall growth of the packaging industry is anticipated to support the market growth of loose fill polystyrene packaging market as well.

Based on application, the market is segmented into consumer goods packaging, pharmaceutical packaging, cosmetics & personal care products packaging, and others (handicrafts, stationary, and office supplies). In 2017, consumer goods packaging segment dominated the market and is anticipated to maintain its position during the forecast period. This dominance is attributed to rising sales of consumer goods worldwide. According to the National Bureau of Statistics of China, in 2017, total retail sales of consumer goods, in China reached US$ 508.9 Mn, and it was 9.4% higher than the previous year.

Asia Pacific held the dominant position, in terms of revenue share, in the global loose fill polystyrene packaging market in 2017 and represented a market share of 44.1%. Rapidly growing end-use industries such as pharmaceuticals, cosmetics, and personal care industry in the region is leading to growth of the market in the region. For instance, according to the data provided by the International Trade Administration (ITA), in Japan, total market for cosmetics and personal care products was valued at US$ 13.2 Bn, in 2015.

Key Players

Major players operating in the global loose fill polystyrene packaging market include Alsamex Products Ltd., Nefab Group, XPAC Technologies Pte Ltd., Salazar Packaging Inc., Storopack Inc., Free-Flow Packaging International Inc., Imperial Dade, Samuel Grant Group Ltd., and Styro Tech Ltd.

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This release was published on openPR.