Polystyrene Foam Market worth $32.2 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 7, 2021 /PRNewswire/ -- According to the new market research report "Polystyrene Foam Market by Resin Type (EPS AND XPS), End-use Industry (Construction and Industrial Insulation, Packaging, Building and Construction), Region(APAC, Europe, North America, South America, and Middle East & Africa) - Global Forecast to 2026", published by MarketsandMarkets™, the global Polystyrene Foam Market size will grow to USD 32.2 billion by 2026 from USD 26.4 billion in 2021, at a CAGR of 4.1% during the 2021-2026 period.
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EPS is projected to be the largest resin type of the Polystyrene Foam market.
EPS is the largest type in Polystyrene foam market in terms of volume. EPS is a lightweight thermoplastic material with special properties because of its structure that helps protect the product from getting damaged. The growing building & construction and packaging industries in developing countries are driving the EPS market. EPS is an excellent material for applications in these industries, as it is lightweight yet rigid foam with good thermal insulation and high impact resistance. However, volatility in crude oil prices and the availability of high-performance substitutes are restraining the market growth. The easy recyclability of polystyrene products is expected to offer opportunities for the growth of the EPS market during the forecast period.
Building and Construction is the fastest-growing pigment type of the Polystyrene Foam market.
Building and Construction is the fastest growing end-use industry in Polystyrene Foam market, in terms of value and volume both. Polymer foams are used in the building & construction industry for forging, pipe-in-pipe, doors, roof board, and slabs. PU is the dominant foam used in the building & construction industry for insulation. It has low heat conduction coefficient, low density, low water absorption, and relatively good mechanical strength and insulating properties, which are helpful in the building & construction sector.
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APAC is the largest Polystyrene Foam market globally.
APAC is projected to lead the Polystyrene foam market and this dominance is expected to continue till 2026. China is the key market in the region, consuming close to half of the demand for Polystyrene foam market. The region is seen as a lucrative market for the growth of Polystyrene foam market. Increasing foreign investments increases the overall demand for Polystyrene foam market. Apart from major countries such as China, India, and South Korea, countries like Indonesia and Thailand are gathering attention and are growing at a brisk pace.
The key players profiled in the Polystyrene Foam Market report are Loyal Group (China), Wuxi Xingda New Foam Plastics Materials Co., Ltd. (China), BASF SE (Germany), Synthos (Poland), Jiangsu Leasty Chemicals (China), Sunpor Kunststoff GmbH (Austria), Versalis S.p.A (Italy), BEWiSynbra Group (Sweden), and Ravago (Luxembourg).
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Browse Adjacent Markets: Chemical Market Research Reports &Consulting
Related Reports:
Polymer Foam Market by Resin Type (PU, PS, PO, Phenolic), Foam Type (Rigid, Flexible), End-Use Industry (Building & Construction, Packaging, Automotive, Furniture & Bedding, Footwear, Sports & Recreational), and Region - Global Forecast to 2025
Expanded Polystyrene (EPS) Market by Product Type (White, Grey, Black), End-use Industry (Building & Construction, Packaging, Others), and Region (Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2023
Extruded Polystyrene Market by Application (Foundation (Basement & Below Ground), Roof, Wall, Floor & Ceiling), End Use (Residential, Commercial), Region (Europe, North America, APAC, Middle East & Africa, South America) - Global Forecast to 2024
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