Global Expanded Polystyrene Packaging Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Expanded Polystyrene Packaging Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global expanded polystyrene packaging market report has been segmented on the basis of type, application, and region
Global Expanded Polystyrene Packaging Market: Overview
Expanded Polystyrene (EPS) is a rigid cellular plastic, which is found in a multitude of shapes and applications. It is used for fish boxes, packaging for electrical consumer goods and for insulation panels for the building. Expanded polystyrene is made from expandable polystyrene, which is a rigid cellular plastic containing an expansion agent. EPS is the best packaging option for almost any high-value heavy product. Completely protected and safe from risk in transport and handling, EPS provides total protection for industrial products.
Global Expanded Polystyrene Packaging Market: Dynamics
Rapid industrialization in developed and developing countries, flourishing food & beverage sector across the globe is resulting in growing demand for expanded polystyrene packaging solution, owing to its properties such as excellent impact strength, acoustic isolation, lightness, and easy processing are some major factors expected to drive the growth of the global market.
In addition, increasing trade activities between countries related to food & beverage and electronic products, coupled with high demand for excellent packaging material that prevents the damage to the product and is durable. This is another factor expected to further support the growth of the global market.
Moreover, rising e-commerce sector in developing countries, coupled with demand for chemically inert packaging material that can be safely used for food packaging is another factor expected to further support the growth of the target market to a certain extent.
However, the availability of high-performance alternative materials with low cost is resulting in limiting the adoption of expanded polystyrene, which is a major factor expected to hamper the growth of the global market.
Technological advancements by major players for the development of cost-effective material is executed to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, increasing expansion activities through partnership and agreements are expected to further support the growth of the target market to a certain extent.
Global Expanded Polystyrene Packaging Market: Segment
Among the type segments, flame retardant type segment is expected to dominate in the target market over the forecast period.
Among the application segments, the food & beverage segment is expected to contribute significant revenue shares in the target market over the forecast period.
Global Expanded Polystyrene Packaging Market: Region
The markets in North America and Europe are expected to contribute significant revenue shares in the global market. This can be attributed to the increasing number of food & beverage manufacturers and the presence of major players operating in countries in this region. In 2017 according to FoodDrinkEurope, there were 294,000 food & beverage companies actively operating in Europe with an annual turnover of US$ 1,245.76 Bn for the same year.
The market in the Asia Pacific is expected to witness faster growth owing to the flourishing e-commerce sector, increasing trade activities, and presence of prominent players operating in emerging economies such as India and China in this region. In 2017, China exported a total of US$ 184.4 Bn in computer and electronics products to the US.
Global Expanded Polystyrene Packaging Market: Segmentation
Segmentation by type
- Flame Retardant Type
- General Type
Segmentation by application
- Food and Beverage
- Electronic Appliances
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- BASF SE
- INEOS Group Limited
- Kaneka Corporation
- Saudi Basic Industries Corporation
- Synthos S.A.
- Total SA
- NOVA Chemicals Corporation
- ACH Foam Technologies, Inc.
- Alpek, S.A.B. de C.V.
- Jackon AS
- Knauf Gips KG
- Monotez S.A.
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