Polystyrene Foam Market Overview by Industry Chain Information, Upstream Raw Materials & Downstream Industry

The global polystyrene foam market size was USD 27.80 Billion in 2022 and is expected to register a revenue CAGR of 4.2% during the forecast period, according to latest analysis by Emergen Research. Increasing urbanization, rising demands for protective packaging, growing consumption of polystyrene foams in food packaging, and significant advancements in polystyrene foam development are some of the key factors driving the global polystyrene foam market revenue growth.

Polystyrene (PS) is a rigid resin that is durable and purely transparent. It is a commonly used plastic created through polymerization of styrene. It is utilized as stiff containers, trays, disposable bowls and plates etc. in the food service industry. PS foams also provide prevention of bacterial contamination in the food items, safety for temperature-sensitive food products, and lowered transportation and packaging costs. This results in its application in the food packaging industry by the launch of innovative PS foam products by major companies. For instance, on 25 January 2022, Tekni-Plex Consumer Products announced the launch of a revised Dolco ProPlus egg carton that includes 25% post-consumer recycled (PCR) foam polystyrene. The new product containing recycled post-consumer waste provides the same performance and properties as cartons using conventional resin. In addition, it also offers high quality and protection while lowering their carbon footprint. The latest trend of recycling of PS foams for increasing sustainability in different industries using them and lowering the carbon footprint in the environment is resulting in the launching of various techniques and products from these recycled PS foams by these companies.

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Competitive Terrain:

The global Polystyrene Foam industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The Leading Market Contenders Listed In The Report Are:

DuPont, Alpek S.A.B. de C.V., Arkema, BASF SE, KANEKA CORPORATION, Versalis S.p.A., Wuxi Xingda foam plastic new material Limited, Synthos, Tamai Kasei Corporation, TotalEnergies, Xella International, Epsilyte LLC, Kingspan Group, SUNPOR, Knauf Insulation, Drew Foam, ChovA, Sealed Air, Carpenter Co., and NOVA Chemicals Corporate.

Some Key Highlights From the Report

Expanded Polystyrene (EPS) segment accounted for largest revenue share in 2022. Expanded polystyrene (EPS) is a closed-cell foam which is used in industrial applications with a high adaptability. Polystyrene beads are expanded using steam, resulting in small spherical particles that are only 2% polystrene and 98% air. The key advantages of EPS are thermal insulation, moisture resistance, lightweight structure, and high mechanical strength which are driving the segment growth. It also offers major companies its advantages of packaging, recyclability, sustainability, and high shock absorbency and imperishable properties. The latest continuous trend of recycling EPS to lower environmental disposal waste is also boosting the growth of the segment. For instance, the development of chitosan-modified recycled EPS nanofibers through centrifugal spinning and their use as adsorbents are effectively assisting in the removal of lead ions from water. Hence, significant industrial firms are taking key initiatives in increasing the recycling of EPS for a range of industrial uses which increases sustainability in these industries. For instance, on 17 November 2023, producers of expanded polystyrene (EPS) resin in North America, invested over USD 185 million on technology for EPS feedstock with recycled content to support sustainability in a number of industries. These producers including RAPAC, BASF, Epsilyte, Styropek, and Nexkemia developed proprietary formulae allowing EPS fabricators to employ over 30% recycled content in the creation of various applications. These are some of the key factors which are boosting significantly to revenue growth of the segment.

Extruded segment accounted for largest revenue share in 2022. The main advantages of extruded polystyrene foam, which are driving the segment growth include energy-saving properties, sustainability, ability to protect buildings from both internal and external weather conditions, corrosion, condensation, and temperature-related cracks of the polystyrene material. In addition, these foams are lightweight, convenient in usage in applications such as construction and building, durable, and thinner than conventional thermal insulation materials. Moreover, these foams are applied for building floors and roofs and offer high insulation for structures during various seasons, including winter and summer. Hence, large corporations are adopting this material and taking crucial measures for the same. For instance, on 16 October 2022, Trinseo, one of the largest producers of polystyrene in Europe announced the launch of their STYRON X-TECH 4660 Polystyrene Resins for Extruded Polystyrene (XPS). The material reduces the consumption of materials used in foam insulation boards by customers in the building and construction industry due to Trinseo's patented cross-linked polystyrene technology. Furthermore, on 19 October 2023, TechnoNICOL announced the investment of USD 13.1 million to construct a new facility in Uzbekistan for the production of extruded polystyrene (XPS) insulation. It is expected to have a capacity of 300,000m2/yr for the production of XPS insulation that is 20-120 mm thick with the commencement of facility construction in 2024. These are the key factors which are contributing to revenue growth of the segment.

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Emergen Research has segmented global polystyrene foam market on the basis of foam type, process type, resin type, end-use, and region:

Foam Type Outlook (Revenue, USD Billion; 2019-2032)

Expanded Polystyrene (EPS)

Extruded Polystyrene (XPS)

Others

Process Type Outlook (Revenue, USD Billion; 2019-2032)

Extruded

Injection Molded

Vacuum Formed

Others

Resin Type Outlook (Revenue, USD Billion; 2019-2032)

Polyurethane Foam

Polystyrene Foam

PVC Foam

Polyolefin Foam

Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Building and Construction

Packaging

Construction and Industrial Insulation

Automotive

Marine

Others

Regional Segmentation:

North America

Latin America

Europe

Middle East & Africa

Asia Pacific

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Report Highlights:

Besides offering a vivid depiction of the global Polystyrene Foam business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.

The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).

The report scrutinizes the salient factors influencing the growth of the market in the near future.

The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter's Five Forces analysis

In-depth 8 year analysis of the Global Polystyrene Foam Market

Critical assessment of the key market segments

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

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Browse More Report By Emergen Research:

Polystyrene Foam Market Size @ https://www.emergenresearch.com/industry-report/polystyrene-foam-market/market-size

Polystyrene Foam Market Share @ https://www.emergenresearch.com/industry-report/polystyrene-foam-market/market-share

Polystyrene Foam Market Trend @ https://www.emergenresearch.com/industry-report/polystyrene-foam-market/market-trends

Polystyrene Foam Market Demand @ https://www.emergenresearch.com/industry-report/polystyrene-foam-market/regional-market-demand

Polystyrene Foam Market Analysis @ https://www.emergenresearch.com/industry-report/polystyrene-foam-market/market-analysis

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