Stratistics MRC’s Global Polystyrene Foam Market value is expected to reach $44.81 billion growing at a CAGR of 6.3% during 2023-2030.
Polystyrene foam is a semi-finished product made from Styrene monomer. It is a type of cellular plastic material developed from polystyrene beads. Polystyrene foam is, commonly referred to as Styrofoam and it is widely used as single-use consumer goods. Approximately 5% plastic and more than 95% air make up the majority of polystyrene foam. Foam made of polystyrene is lightweight, water resistant, and simple to stack. Produce is shielded from temperature fluctuations by its superior insulation. Customers find it more visually appealing due to its dimensional stability, which is ideal for hydro cooling.
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North America is projected to have the highest CAGR over the forecast period. In Germany, the demand for EPS is significantly influenced by the construction industry. The country has experienced an increase in new residential construction permits, and this growth trend is likely to continue during the projected period due to the rising demand for real estate, cheap financing rates, and growing population. Over the projection period, it is anticipated that favourable government support for the construction of green buildings in a number of nations, including the U.K., Germany, Italy, and France, will drive product demand.
Some of the key players in polystyrene foam market include Wuxi Xingda Group, Jiangsu Leasty Chemicals Co., Ltd., DuPont de Nemours, Inc., Chevron Phillips Chemical Company LLC, Synthos S.A., Alpek, S.A.B. de C.V., ACH Foam Technologies, LLC, Dow Chemical Company, Kaneka Corporation, JSP Corporation, Sunpor Kunststoff GmbH, Nova Chemicals Corp, Alpek, Carpenter Co., Flint Hills Resources, AFP-sealed air, Taita Chemical Co., Ltd., Agilyx, StyroChem Canada, Ltd and Epsilyte LLC.
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Key Developments:
In October 2021, StyroChem Canada, Ltd., one of the leading producers of expandable polystyrene (EPS) was acquired by Epsilyte Holdings LLC. This acquisition is likely to strengthen Epsilyte’s ability to enhance its portfolio through StyroChem’s operational technology and expected to create one of the largest manufacturers of EPS in the North America.
In October 2021, Epsilyte LLC, has increased the prices of its expanded polystyrene grades by USD 110 per ton. The decision has been taken as an effort to stay up with the high supply chain expenses and operational difficulties arising from country’s limited availability of feedstocks.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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