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:
Detailed Segmentation-
Table of Contents
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