Polystyrene Foam Market by Resin Type (EPS AND XPS), End-use Industry (Construction and Industrial Insulation, Packaging, Building and Construction), Region(APAC, Europe, North America, South America, and Middle East & Africa) - Global Forecast to 2026
The Polystyrene Foam market is projected to grow from USD 26.4 billion in 2021 to USD 32.2 billion by 2026, at a CAGR of 4.1% between 2021 and 2026. Growing demand from the building and construction industry in APAC is likely to boost the Polystyrene Foam market.
Polystyrene (PS) foams are thermoplastic, closed-cell, lightweight, rigid-foam, moisture-resistant material with high compressive strength and exceptional thermal and acoustic insulation properties. In general, polystyrene foams come in two forms: EPS (Expanded PS) and XPS (Extruded PS). XPS products can be far more superior to the EPS products when R-value (thermal resistance ""per unit area."") is considered. XPS products can outperform EPS products in various aspects such as thermal performance, moisture resistance, and compressive strength.
“The building and construction industry is projected to be the largest end-use industry of Polystyrene Foam market.”
The building and construction industry is the largest end-use industry segment, in terms of both volume and value, between 2021 and 2026. Polystyrene Foam used in the Building and Construction sector are specially used as insulated panels for walformulated to counter extremely harsh environments such as saltwater, temperature, pressure, and organic formation. Emerging markets such as China, India, and South Korea, and other countries (which include Malaysia, Indonesia, and Thailand) are the major growth drivers of the APAC market.
“EPS is the fastest-growing type of the Polystyrene Foam market.”
EPS is the fastest-growing resin segment, in terms of volume, between 2021 and 2026. EPS is a lightweight thermoplastic material with special properties because of its structure that helps protect the product from getting damaged. The growing building & construction and packaging industries in developing countries are driving the EPS market. EPS is an excellent material for applications in these industries, as it is lightweight yet rigid foam with good thermal insulation and high impact resistance. However, volatility in crude oil prices and the availability of high-performance substitutes are restraining the market growth. The easy recyclability of polystyrene products is expected to offer opportunities for the growth of the EPS market during the forecast period.
“APAC is the fastest market for Polystyrene Foam during the forecast period.”
APAC is projected to be the largest and the fastest-growing market for Polystyrene foam during the forecast period. APAC is the hub of foreign investment and booming industrial sectors due to the low-cost labor and cheap availability of lands. Increase in the demand for Polystyrene foam can be largely attributed to the growing industrial, infrastructure & construction, and marine industries. APAC has a growing industries that is likely to drive the market for Polystyrene foam.
Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.
Breakdown of Primary Interviews:
By Company Type: Tier 1 – 42%, Tier 2 – 25%, and Tier 3 – 33%
By Designation: C Level – 36%, D Level – 19%, and Others – 45%
By Region: Europe – 42%, North America – 25%, APAC – 17%, South America – 8%, and Middle East & Africa – 8%
The key companies profiled in this report are Loyal Group (China), Wuxi Xingda New Foam Plastics Materials Co., Ltd. (China), BASF SE (Germany), Synthos S.A. (Poland), Jiangsu Leasty Chemicals Co., Ltd. (China), Sunpor Kunststoff GmbH (Austria), Total SE (France), Taita Chemical Co., Ltd. (Taiwan), Versalis S.p.A (Italy), and DuPont (US).
The Polystyrene Foam market has been segmented based on foam type (EPS and XPS), End-Use industry (Construction & Industrial Insulation, Packaging and Others), Region (APAC, Europe, North America, South America, and Middle East & Africa).
Reasons to Buy the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on Polystyrene foam offered by top players in the market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for Polystyrene Foam across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the market.
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