Polystyrene Foam Market, By Type (Expanded Polystyrene Foam (EPS) and Extruded Polystyrene Foam (XPS)), By End-use Industry (Packaging, Building & Construction, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Mar 2024

Code : CMI6782

Pages :137

Formats :

Excel and PDF

Industry : Advanced Materials

Market Concentration and Competitive Landscape

Polystyrene Foam Market Concentration By Players

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Increase in Packaging Industry Requirements

The packaging industry has greatly expanded the applications and uses of polystyrene foam. It is being extensively used for protective packaging of various products that are shipped domestically as well internationally. Its shock absorbent properties and ability to maintain product integrity makes it highly suitable for packaging applications. Its demand from the food and beverage industry for packaging eggs, meat and other perishable items has significantly grown. Other industries such as electronics and appliances also utilize it for cushioning their products during transportation. With growth in e-commerce, more retailers are adopting robust packaging solutions to safely deliver orders to customers. This has created new opportunities for use of customized polystyrene foam packaging. Its reuse and recycling has also gotten attention of major packaging manufacturers. Overall, the shift in consumer buying patterns and intensified competition has pushed packaging producers to rely on cost-effective yet secure packaging materials like polystyrene foam. Growing food industry is expected to drive the market growth. For instance, according to the data published by Invest India in 2022, the Indian Food Processing market is estimated to reach US$ 535 Bn by 2025, growing at a compound annual growth rate of 15.2%.

Key Players Insights