Polystyrene Foam Product Manufacturing Market In-depth Analysis 2020, Competitive Outlook of the Global Industry with Future Estimations

Polystyrene Foam Product Manufacturing Market - By End Use Product (Packaging, Automotive And Construction), By Key Players, And By Region, Opportunities And Strategies – Global Forecast To 2023 By 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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