POLYSTYRENE FOAM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global polystyrene foam market is estimated to be valued at USD 29.95 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. Polystyrene foam, commonly known as Styrofoam, is a synthetic aromatic polymer material produced from oil and gas. The production of polystyrene foam begins with the polymerization of the monomer, styrene. In the presence of a blowing agent and surfactant, the polystyrene raw material expands and sets into a solid block of thermal insulation material with a closed-cell structure. Polystyrene foam is lightweight and durable, and offers high insulation against heat, cold, moisture, and noise. These properties have made it a popular material for thermal insulation in the construction, packaging and shipping industries. It is widely used to manufacture insulation board and panels for houses, flats and buildings. The packaging industry uses expanded polystyrene foam clamshells and boxes for protecting, cushioning and transporting various products.

 Market Dynamics:

Global polystyrene foam market growth is primarily driven by growing construction industry across both developing and developed countries. Polystyrene foam finds major application in residential and commercial construction for wall cavities, pipe wraps and roofing underlayment due to its excellent thermal insulation and moisture resistant properties. However, strict environmental regulations regarding the usage of fluorocarbons and hydrocarbons as blowing agents are expected to hamper market growth. The development of bio-based and greener blowing agents is opening new opportunities for sustainable production of polystyrene foam. Furthermore, increasing e-commerce industry boosts demand for packaging solutions made from polystyrene foam to safely deliver products to customers.

 Key Features of the Study:

• This report provides in-depth analysis of the global polystyrene foam market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global polystyrene foam market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Kingspan Group, Sunpor Kunststoff GmbH, Drew Foam, Xella International, Alpek, BASF SE, ChovA, DuPont, Knauf Insulation, Synthos S.A., Shrushi Polymers Private Limited., Kamaksha Thermocol, K. K. Nag Pvt. Ltd, Styrotech, Inc., Michigan Foam Products LLC, ICA, Supreme Petrochem Ltd, Kaneka Corporation, Wuxi Xingda foam plastic new material Limited, and Tamai Kasei Co., Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global polystyrene foam market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global polystyrene foam market

Detailed Segmentation-

• By Type:
• • Expanded Polystyrene Foam (EPS)
  • Extruded Polystyrene Foam (XPS)
• By End-use Industry:
• • Packaging
  • Building & Construction
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Kingspan Group
  • Sunpor Kunststoff GmbH
  • Drew Foam
  • Xella International
  • Alpek
  • BASF SE
  • ChovA
  • DuPont
  • Knauf Insulation
  • Synthos S.A.
  • Shrushi Polymers Private Limited.
  • Kamaksha Thermocol
  • K. K. Nag Pvt. Ltd
  • Styrotech, Inc.
  • Michigan Foam Products LLC
  • ICA
  • Supreme Petrochem Ltd
  • Kaneka Corporation
  • Wuxi Xingda foam plastic new material Limited
  • Tamai Kasei Co., Ltd.