Expanded Polystyrene Market for Packaging 2021 - By Identifying The Key Market Segments Poised For Strong Growth In Future 2031

Rise in awareness regarding the environmental advantages related to expanded polystyrene is likely to create substantial expansion opportunities in the global expanded polystyrene market for packaging during the forecast period of 2021 to 2031.

An upcoming research report by Transparency Market Research (TMR) provides thorough study of prime factors influencing the development curve of the global expanded polystyrene market for packaging. Thus, it delivers comprehensive evaluation of key elements such as growth drivers, trends, restraints, R&D activities, demand-supply ratio, challenges, growth opportunities, and technological advancements in the market.

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The report analysts have presented all data and analysis of the global expanded polystyrene market for packaging in the form of varied segments, which are decided on the basis of many important parameters such as application and region. In terms of application, the market is divided into four main parts, namely, food and beverages, healthcare, electronic appliances, and others.

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Key Drivers of Expanded Polystyrene Market for Packaging Growth

While expanded polystyrenes are non-biodegradable, they are considered environment-friendly due to their ease of composition and recycling. This is one of the prominent factors driving the growth prospects in the global expanded polystyrene market for packaging.

Due to the sustainability of expanded polystyrene, companies across the globe are growing preference toward the use of these polystyrenes for products packaging instead of wood, cardboard, and plastic. This factor is working as a key driver for the growth of the expanded polystyrene market for packaging. Moreover, reusability and recyclability of expanded polystyrene are some of the prominent factors boosting the sales in the market.

With high penetration of Internet as well as smartphones, the e-commerce sector is expanding at promising pace across the globe. This is scenario is resulting into promising demand opportunities in the expanded polystyrene market for packaging.

Due to COVID-19 pandemic, there is surge in trend of online shopping around the world. Major product manufacturers are growing focus on the use of innovative and attractive packaging in order to attract more and more consumers. This factor is expected to generate lucrative prospects for companies operating in the expanded polystyrene market for packaging in the years ahead.

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Competition Landscape of Expanded Polystyrene Market for Packaging

The global expanded polystyrene market for packaging is fairly fragmented in nature. Presence of many well-entrenched players highlights that the competitive landscape of the market for expanded polystyrene market for packaging is intense.

Companies operating in the expanded polystyrene market for packaging are using organic as well as inorganic strategies to maintain leading position in the market. Some of the key strategies include mergers, acquisitions, new product launches, R&D projects, joint ventures, partnerships, and collaborations.

Some of leading players in the global expanded polystyrene market for packaging are:

BASF SE
Alpek SAB de CV
NOVA Chemicals Corp.
Kaneka Corp.
SUNPOR Kunststoff GmbH
Saudi Basic Industries Corp.
The JACKON GROUP
Synthos SA
Versalis Spa
TotalEnergies SE

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Regional Outlook for Expanded Polystyrene Market for Packaging

In terms of region, the global expanded polystyrene market for packaging shows existence in many geographical segments including Europe, Asia Pacific, South America, MEA, and North America. Of all, Asia Pacific is one of the leading regions of the expanded polystyrene market for packaging. The growth of Asia Pacific market can be attributed to many factors including presence of many emerging economies in the region.

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