Press release
Polystyrene Foam Product Manufacturing Market In-depth Analysis 2020, Competitive Outlook of the Global Industry with Future Estimations
The Business Research Company
The polystyrene foam products market size reached a value of nearly $62.4 billion in 2018 and is expected to grow at a compound annual growth rate of 3.8% to nearly $75.1 billion by 2023. Rapid growth in manufacturing and construction activity in emerging markets, increasing demand for electronic products globally and growth in the demand for automobiles globally are contributing to the growth of the polystyrene foam market.
The Key drivers of the polystyrene foam products market include:-
Increase In Use Of Polystyrene Foam Packaging: The polystyrene foam products manufacturing market benefitted from increased use of food containers and packaging material due to a rise in the popularity of food delivery p ortals and take away restaurants. Polystyrene is widely used in food packaging as it provides good insulation, thus keeping food fresh for a longer duration, compared to other alternatives.
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Polystyrene Foam Product Manufacturing Market Segmentation:-
By Segment
1. Packaging
2. Automotive
3. Construction
4. Others
The packaging segment accounted for the largest share of the polystyrene foam products market in 2018 at $30.5 billion. Major factors for this growth include increasing demand for electronic products and packaged food products globally.
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By Geography - The polystyrene foam product manufacturing market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the polystyrene foam product manufacturing market are
1. Wuxi Xingda New Foam Plastics Materials Co., Ltd.
2. Dart Container Corporation
3. O. N. Sunde AS
4. Alpek S.A.B. de C.V.
5. Synthos S.A.
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The Business Research Company
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Americas: +1 315 623 0293
Email: info@tbrc.info
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About US:
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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