The global Expanded Polystyrene for Packaging market is anticipated to accumulate a market value of US$ 11.05 billion in 2023 and is expected to record a market valuation of US$ 25.2 billion by exhibiting a CAGR of 8.59% in the forecast period 2023 to 2033. The market for expanded polystyrene solutions for packaging registered a CAGR of 6% in the historical period 2018 to 2022.
Geographically, the Asia Pacific region dominated the industry in 2022 and accounted for over 40% revenue share. It will retain its dominance by reaching 44% market share by end of the forecast period. This region is expected to be one of the largest as well as the fastest-growing regional markets during the forecast period, owing to accelerating demand for the product from key applications, including automotive, packaging, and construction, in emerging economies, such as India and China. Moreover, the rapidly growing construction industry in the Asia Pacific region will support regional growth.
On the other hand, North America is expected to garner a significant market share of 34% by end of the projection period. The growth is attributed to the adoption of polystyrene packaging solutions by the buildings and construction industry for various applications like roadways, residential & commercial buildings, and other constructional activities. Additionally, growing use of expanded polystyrene for the thermal insulation is anticipated to drive market growth in the forecast period.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 11.05 billion |
| Projected Market Value in 2033 | US$ 25.2 billion |
| Growth Rate (2023 to 2033) | 8.59% CAGR |
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Recent developments in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing expanded Polystyrene for Packaging are anticipated to create lucrative prospects for market growth during the forecast period.
Expanded polystyrene for packaging is manufactured by an injection moulding technique. The distinct characteristic features which the expanded polystyrene for packaging possesses are: cushioning of fragile products, thermal insulation, and high strength for weight-bearing.
The lightweight yet durable nature for expanded polystyrene has led to its growing acceptance for the packaging of fragile as well as heavy-duty products. This adoption is expected to drive the demand for expanded polystyrene for packaging in the global market.
The expanded polystyrene for packaging exhibits unique characteristics because of which the demand for the packaging in the electronics and electrical appliances packaging is anticipated to gain traction all over the world. The expanded polystyrene for packaging is majorly used due to light-weight and effective insulation properties in the packaging of pallets in the building and construction industry.
The expanded polystyrene for packaging is formed by melting and solidifying process. The expanded polystyrene for packaging is demanded more in the form of thermocol slabs made up of expanded polystyrene beads. Also, the expanded polystyrene offers cost-effective packaging, with an ideal shock-resistant during transportation. The closed-cell structure of expanded polystyrene contributes to low vapour permanence and minimum water retention.
The expanded polystyrene does not possess biodegradable traits but is a chemical inert that makes it solid fill material and renders reliable and clean landfill redemption. The expanding demand for cold chain packaging solutions in the pharmaceutical segment as a medium for promoting product safety coupled with the demand from fresh food packaging industry is presumed to continue to be an essential driving factor for the sales of expanded polystyrene packaging solutions.
Among different expanded polystyrene for packaging, white EPS is a prominently used product type. It is closed-cell foam plastic which is rigid and has superior thermal and mechanical attributes.
The white EPS has firm dimensions for end-use and is non-corrosive. The thermal detention of the white EPS depends on the density of the finalized product. White EPS holds a closed cellular composition containing only stabilized air, consequently, the thermal resistance of the white EPS does not fade with time. Therefore, the expanded polystyrene for packaging market will have good growth and will be preferred in high demands.
Principal Consultant
The Asia Pacific region is expected to account for maximum market share in the global expanded polystyrene for packaging market by 2020. The expanded polystyrene for packaging is highly in the demand because of large usage of plastic and polymer materials for packaging in various sectors such as food, healthcare, electronics and electrical application etc, especially on a large scale in the East Asian countries such as China, Japan, and South Korea. The market of expanded polystyrene has gained traction in European countries as sales of washing machines, refrigerators, and other consumer durables have registered a hike in the countries of Eastern Europe.
In North America, consumers have high-income levels and maintain a good standard of living, so the demand for expanded polystyrene for packaging market holds good in the American countries.
Some of the key manufacturers operating in the expanded polystyrene for packaging market are as follows-
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments of expanded polystyrene for packaging. The report also maps the qualitative impact of various market factors on expanded polystyrene for packaging market segments and geographies.
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1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product 6.2. Application 6.3. End-Use 7. Global Market Analysis and Forecast, By Product 7.1. Black 7.2. Grey 7.3. White 8. Global Market Analysis and Forecast, By Application 8.1. Sheets 8.2. Trays & Clamshells 8.3. Foam Coolers 8.4. Cups & Bowls 8.5. Packaging Peanuts 9. Global Market Analysis and Forecast, By End-Use 9.1. Food and Beverages 9.2. Foodservice 9.3. Healthcare 9.4. Electronics and Electrical Appliances 9.5. Building and Construction 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. Middle East & Africa (MEA) 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Product, Application, and End-Use for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. BASF SE 20.2. ACH Foam Technologies, Inc. 20.3. Unipol Holland BV 20.4. KANEKA CORPORATION 20.5. Ravago 20.6. Styrochem 20.7. NOVA Chemicals Corporation 20.8. Sunpor Kunststoff GMBH 20.9. SABIC, DOW Inc. 20.10. Synthos 20.11. Versalis S.P.A. 20.12. Alpek S.A.B. De Cv 20.13. Sundolitt Ltd
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Expanded Polystyrene for Packaging Market
