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The expanded polystyrene (EPS) for packaging market size is forecast to increase by USD 5,379.03 million at a CAGR of 8.5% between 2022 and 2027. The growth of the market depends on several factors, including environmental benefits associated with expanded polystyrene, growth of the e-commerce sector, and high rate of recycling of expanded polystyrene.
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This report extensively covers market segmentation by application (electronic appliances, food and beverage, healthcare, and others) and type (white and grey). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth of the electronic appliances segment will be significant during the forecast period. In the electronic appliances industry, expanded polystyrene is used for electronic packaging appliances such as blenders, washing machines, air conditioners, personal computers, scanners, and television screens to protect them and ensure their safe transportation, contributing to the Industrial Packaging Market.
As the demand for electronic appliances continues to rise, there is a parallel growth in the Packaging Solutions Market, Packaging Products Market, Sustainable Packaging Market, Flexible Packaging Market, Rigid Packaging Market, and Industrial Packaging Market. These segments play a crucial role in providing efficient and sustainable packaging solutions for electronic appliances, ensuring their protection and preservation throughout the supply chain.
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The electronic appliances segment was valued at USD 3,615.94 million in 2017. It has properties such as heat flexibility and water resistance, which make it reliable for the packaging of electronic equipment such as air conditioners, refrigerators, televisions, and washing machines. The growing global consumer electronics market will drive the growth of this segment during the forecast period.
The growth of the e-commerce sector is notably driving market growth. The growth of the e-commerce sector has a direct impact on the packaging industry. Packaging plays a major role in the first impression that consumers have of brands. Therefore, most brands try to differentiate themselves by offering various types of packaging.
Many companies, such as BEWiSynbra Group AB (BEWiSynbra), focus on offering premium gray expanded polystyrene for packaging, which can be used as an indication of high-quality products. Some products that consumers buy from e-commerce platforms are food and beverages, electronics, personal care products, and healthcare products. In healthcare, folding cartons are used for the packaging of medicines and drugs to protect them against unfavorable external elements, such as biological contamination, degradation, physical damage, and counterfeiting. Therefore, the growth of the e-commerce sector will increase the need for during the forecast period.
Growing demand for lightweight containers and packaging is the key trend in the market. The demand for from enterprises in industries such as food and beverage, healthcare, and electronics appliances is continuously evolving. The demand for lightweight containers and packaging is increasing. Lightweight containers and packaging help reduce the environmental impact of consumer packaging and support enterprises to contribute toward sustainability. Lightweight containers and packaging solutions also reduce the mass of packages effectively as well as the cost of production. Thus, various enterprises are opting for lightweight containers and packaging.
Hence, several companies offer lightweight containers and packaging. The product helps end-users significantly reduce the weight of the packaging. In the transportation and warehousing industries, lightweight packaging materials are in high demand as they reduce fuel consumption and operational cost. Thus, the high demand for lightweight containers and packaging will drive the growth of the global market for packaging during the forecast period.
The popularity of bioplastic packaging is the major challenge impeding market growth. Bioplastics are biodegradable plastics that are derived from renewable biomass sources, such as corn starch, vegetable fat and oil, straw, woodchip, food waste, and others. Environmental awareness and sustainability are key areas of concern for customers, which is forcing packaging companies to adopt sustainable packaging. This is increasing the demand for bioplastic packaging. Several governments have started initiatives to promote the use of bioplastics over hazardous polymer and plastic materials. The fund aimed to support projects that utilize household food scrap to create environmentally friendly plastic bags and cups as well as smart labels.
Hence, many end-users are shifting to bioplastics, including flexible bioplastic packaging. Some major companies that offer flexible bioplastic packaging are Uflex and Parkside Flexibles Ltd. (Parkside Flexibles). The rising use of bioplastics for packaging is reducing the popularity of the use for packaging. This will negatively affect the growth of the market during the forecast period. Some companies, such as BASF and BEWiSynbra, are focusing on the development of biomass-balanced to reduce the effect of the challenge.
Key Market Customer Landscape
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ravago - The company's offerings include polymers, chemicals, and building materials. The company also offers expanded polystyrene, which allows the intrusion of water over time and withstands the elements and the test of time.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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APAC is estimated to contribute 70% to the growth of the global market during the forecast period, encompassing the Protective Packaging Market, Food Packaging Market, Consumer Packaging Market, and Expanded Polystyrene Market. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period, reflecting market growth analysis. The market for packaging is growing at a high pace in APAC, emphasizing market research and growth. Developing economies, such as China and India, are expected to emerge as major revenue contributors to the market for packaging in APAC during the forecast period, highlighting market growth and forecasting dynamics.
This is primarily because of the rapidly expanding e-commerce, FMCG, household appliances, and personal care end-user industries, influencing the Protective Packaging Market, Food Packaging Market, and Consumer Packaging Market. APAC characterizes a growing e-commerce industry, especially in countries such as China, India, and Japan, shaping Market forecasting and the outlook for the Expanded Polystyrene Market. The growth of the e-commerce industry in APAC is attributed to the rising population in the region, which is fueling the overall demand for goods through online distribution channels. Also, the rise in counterfeiting in the e-commerce industry in countries such as China and India is augmenting the demand for expanded polystyrene for packaging.
The Expanded Polystyrene (EPS) Packaging Market is a significant segment within the polystyrene packaging market and the broader foam packaging market, reflecting market growth analysis. Known for its lightweight and insulating properties, EPS is widely used in protective packaging, food packaging, and consumer packaging applications, contributing to market research and growth. As part of the packaging materials market, EPS offers versatile solutions for various industries, including sustainable packaging options, shaping market growth and forecasting dynamics.
From flexible to rigid packaging, EPS meets the demands of both industrial and consumer sectors, emphasizing Market forecasting and the continuous expansion of the EPS packaging market. Market analysis reveals dynamic packaging trends and opportunities for growth, highlighting the importance of comprehensive market report insights into the EPS Packaging Market Outlook. With its versatility and reliability, EPS remains a preferred choice for innovative packaging solutions across multiple sectors.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Expanded Polystyrene For Packaging Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.5% |
Market growth 2023-2027 |
USD 5,379.03 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.64 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 70% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alpek SAB de CV, Arkema Group, Axion Recycling Ltd., BASF SE, Chimei Corp., DuPont de Nemours Inc., Eni Spa, Epsilyte LLC, Formosa Chemicals and Fibre Corp., INEOS Group Holdings SA, Kaneka Corp., LG Chem Ltd., NOVA Chemicals Corp., PS Japan Corp., Ravago, Saudi Basic Industries Corp., Supreme Petrochem Ltd., TotalEnergies SE, Trinseo PLC, and Videolar Innova SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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