Polystyrene Foam Market was valued at USD 26.47 Billion in 2021, and it is expected to reach USD 36.93 Billion by 2029, exhibiting a CAGR of 4.25 % during the forecast period 2022-2029

Dublin, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a leading Material and Chemical market research firm has published a report on the “Polystyrene Foam Market”. The report includes major drivers of the market, demand analysis, pricing analysis, regional analysis, and competitive benchmarking. The Polystyrene Foam Market size was valued at USD 26.47 Bn in 2021 and is expected to grow by 4.25 percent from 2022 to 2029, reaching nearly USD 36.93 Bn.

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Polystyrene Foam Market Scope and Research Methodology

The Polystyrene Foam Market report provides a detailed analysis of the market with a thorough competitive landscape, regional, demand and pricing analysis. Market size and Compound Annual Growth Rate is provided in the report for the forecast period (2022 to 2029). Key Insights about the Polystyrene Foam Market includes drivers, restraints, investment opportunities, trends and competitive strategies adopted by the major market leaders are included in the report making it an investor’s guide.

For the competitive analysis, the report includes the profile of the key players in the Polystyrene Foam market including company overview, financial performance, product portfolio, and strategies. Key offerings of the report include the market size, penetration, and market share dominance with factors in the Polystyrene Foam Market. The bottom-up approach is used for the estimation of Polystyrene Foam Market size. Regional analysis of the Polystyrene Foam Market is conducted at the local, regional and global levels. The Polystyrene Foam Market was divided into three segments, which include foam type, End-user, and process type.

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SWOT and PESTLE analysis were used for the analysis to understand the market structure and growth prospects in various regions. Such research methods help understand the factors influencing the growth of the Polystyrene Foam Market. The primary research method was used to validate the findings from the secondary research method.

Polystyrene Foam Market Overview

Polystyrene Foams are thermal insulators and are frequently used as building materials, such as concrete forms and panel construction systems. These foams have strong damping qualities and are utilized for packing. Non-weight-bearing constructions are made of such foams. Advancement of green construction and increasing demand for foam in the packaging industry are driving the Polystyrene Foam market growth.

Polystyrene Foam Market Dynamics

Increasing demand for expanded polystyrene from the building and construction industry are major factors influencing the Polystyrene Foam Market growth. The demand for Polystyrene Foam in the packaging industry, which is often used as cushioning material for boxes is expected to drive market growth. Polystyrene Foam is pliable, lightweight, and simple to handle with excellent impact resistance and thermal insulation which is influencing the Polystyrene Foam market growth.

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Demand for molded pulp as a green alternative has been on the rise. Adoption of eco-friendly products has resulted in usage of moulded fibre packaging which is expected to restrain the Polystyrene Foam Market growth.

Polystyrene Foam Market Regional Insights

Asia Pacific region held the largest market share in the Polystyrene Foam Market and dominated the market in 2021. Over the forecast period, it is expected to continue with the growth streak, maintaining its dominance over the market. Growing demand for foam in packaging, automotive, and electronics appliances drive the regional Polystyrene Foam Market growth. The rising number of infrastructure development projects in China is expected to drive the regional Polystyrene Foam Market growth.

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The South American region is expected to grow significantly over the forecast period during the forecast period. Demand for Polystyrene Foam in the construction industry is expected to fuel the regional Polystyrene Foam Market growth over the forecast period.

Market Size in 2021	USD 26.47 Bn
Market Size in 2029	USD 36.93 Bn
CAGR	4.25 % (2022-2029)
Forecast Period	2022-2029
Base Year	2021
Number of Pages	260
No. of Tables	108
No. of Charts and Figures	110
Segment Covered	Foam type, End-user, and Process type
Regional Scope	North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage	Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

Polystyrene Foam Market Segmentation

By Foam Type:

• Expanded Polystyrene (EPS)
• Extruded Polystyrene (XPS)
• Others
  

By End-User:

• Building & Construction
• Packaging
• Construction & Industrial Insulation
• Others

By Process Type:

• Extruded
• Injection Molded
• Vacuum Formed
• Others

Polystyrene Foam Market Key Leaders include:

• DowDuPont Inc. (US)
• Drew Foam (US)
• Flint Hills Resources (US)
• AFP-sealed air (US)
• Alpek (Mexico)
• Carpenter Co. (US)
• Dart Container Corporation (US)
• Nova Chemicals Corp (Canada)
• Jiangsu Leasty Chemicals Co., Ltd. (China)
• Wuxi Xingda New Foam Plastics Materials Co., Ltd. (China)
• Taita Chemical Co., Ltd. (Taiwan)
• Kaneka Corporation (Japan)
• JSP Corporation (Japan)
• BASF SE (Germany)
• Xella International (Germany)
• Synthos S.A (Poland)
• Sunpor Kunststoff GmbH (Austria)
• SUNPOR Kunststoff GmbH (Austria)
• Versalis S.p.A (Italy)
• ChovA (Spain)
• Knauf Insulation (Belgium)
• SABIC (Saudi Arabia)
• Arkema S.A. (France)
• Kingspan Group (Ireland)
• O. N. Sunde AS (Norway)
• Ravago Group (Belgium)

Key questions answered in the Polystyrene Foam Market are:

• What is Polystyrene Foam?
• What is the current growth rate of the Polystyrene Foam Market?
• Who are the key manufacturers in the Polystyrene Foam Market?
• What are the factors affecting the growth of the Polystyrene Foam market?
• Who held the largest market share in the Polystyrene Foam Market?
• What segments are covered in the Polystyrene Foam market?
• Which segment is expected to witness the fastest growth and why in the Polystyrene Foam Market?
• What are the opportunities for the Polystyrene Foam Market?
• What are the growth prospects in developing countries for Polystyrene Foam Market?
• Which countries are expected to drive the Polystyrene Foam Market in the Asia Pacific region?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
• Market Segmentation – A detailed analysis by Foam type, End User and Process type
• Competitive Landscape – Top Key Manufacturers and Other Prominent Manufacturers

Maximize Market Research is leading Material and Chemical research firm, has also published the following reports:

Expanded Polystyrene Market: The total market size was valued at USD 9.84 Bn in 2021 and the total revenue is expected to grow at a CAGR of 4.8 percent from 2022 to 2029, reaching nearly USD 14.32 Bn. The growing packaging and construction sectors in developing nations is expected to drive market growth.

Polystyrene Film Market: The total market size is expected to grow at a CAGR of 4.8 percent during the forecast period and is expected to reach USD 15.10 Bn by 2029. The demand for Polystyrene Films is boosting in the industrial sectors like electronics, manufacturing, food, and beverages are factors driving the market growth.

Global Specialty Polystyrene Resin Market: The total market size was valued at USD 109.2 Mn in 2019 and is expected to reach USD 137.2 Mn by 2029, at a CAGR of 2.9 percent during the forecast period. Increasing demand for protection from end-use industries such as packaging, building & construction, healthcare, and electrical & electronics are driving the market growth.

Polystyrene Market: The total market size was valued at USD 31.2 Bn in 2021 and is expected to reach USD 42.66 Bn by 2029 at a CAGR of 3.99 percent during the forecast period. The growing number of end-users of polystyrene, including the construction and electronics industries are driving the market growth.

Foam Blowing Agents Market: The total market size was valued at USD 1.29 Bn in 2021 and is expected to grow at a CAGR of 5.1 percent through the forecast period. High growth in the polymeric foam sector including packaging, automobile, building & construction, marine, transport, appliances, bedding & furniture is driving the market growth.

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