Polystyrene Foam Market by Type, Application, and Geography - Forecast and Analysis 2021-2025

The polystyrene foam market share is expected to increase by USD 5.72 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.04%.

This polystyrene foam market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers polystyrene foam market segmentation by type (EPS and XPS), application (building and construction, packaging, and others), and geography (APAC, North America, Europe, MEA, and South America). The polystyrene foam market report also offers information on several market vendors, including Arkema SA, BASF SE, Carpenter Co., DuPont de Nemours Inc., Kaneka Corp., SIBUR Holding PJSC, StyroChem, Synthos SA, Wuxi Xingda Group, and Zotefoams Plc among others.

What will the Polystyrene Foam Market Size be During the Forecast Period?

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Polystyrene Foam Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand for eps from the packaging sector is notably driving the polystyrene foam market growth, although factors such as fluctuating crude oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polystyrene foam industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Polystyrene Foam Market Driver

High demand from emerging economies is one of the key factors driving the growth of the global polystyrene foam market. The polystyrene foam market is witnessing high growth in emerging economies, such as Brazil, China, Russia, Turkey, Indonesia, South Korea, Mexico, and India. Many OEMs, such as automotive manufacturers, are shifting their manufacturing operations to these countries due to factors such as the availability of land, cheap labor, low transportation costs, and lenient government norms. The Indian polystyrene foam market is also growing significantly due to the increasing use of insulating materials in refrigerators and in the construction industry. Panels made of EPS provide approximately 30%-40% more insulation, making it a preferred insulating material in refrigeration equipment. In addition, EPS provides better moisture resistance and long-term, accurate, high-performance insulation. Brazil registered the highest growth in terms of the demand for polystyrene foam among all the countries in Central and South America. The growth in the building and construction, transportation, electronics, and packaging industries in emerging economies is anticipated to boost the growth of the global polystyrene foam market. This will be further supported by higher disposable incomes and changing lifestyles in these economies.

Key Polystyrene Foam Market Trend

Growing demand for polystyrene foam from the building and construction segment will fuel the global polystyrene foam market growth. Polystyrene foam is used widely in building and construction activities. It is used in interior works such as window profiles. It is also used in wood-plastic composites for walls and roofs. The material is used as reinforcement in cement composites and applications such as runway and road repairs. Polystyrene foam is used in the construction of theaters and auditoriums, where high sound insulation is required. It is also used in the construction of earthquake-resistant buildings because of its high-shock resistance. However, megacities in both developed and emerging markets are reflecting changes in economic and demographic trends that will create immense opportunities for new infrastructural developments and increase spending on infrastructure projects over the next decade. Such increased construction activities are likely to boost the growth of the global polystyrene foam market in the building and construction segment because of the increasing use of the compound for interior works and housing during the forecast period.

Key Polystyrene Foam Market Challenge

Fluctuating crude oil prices are a major challenge for the global polystyrene foam market growth. The manufacturing of polystyrene foams requires raw materials, which are acquired from the oil and gas industry in the form of gasoline. The fluctuations in crude oil prices have a severe impact on the prices of the raw materials, which affect the costs of polystyrene foam. The demand for raw materials has been volatile, owing to the uncertainty in economic activities. The economic scenario plays a vital role in the performance of the market. For a positive position in the market, the demand fluctuations observed are less, leading to ample opportunities for growth in the sales of polymer foams and the products offered by the end-user industries. The raw material costs in the global polystyrene foam market differ for many reasons, such as the availability and the pricing structure of the raw material. Different regions have different pricing structures based on exports and imports. This entails differential costs around the globe. The volatility in the prices of the raw materials impacts the margins of the manufacturers, acting as roadblocks to the growth of the market.

This polystyrene foam market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global polystyrene foam market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polystyrene foam market during the forecast period.

Who are the Major Polystyrene Foam Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Arkema SA
• BASF SE
• Carpenter Co.
• DuPont de Nemours Inc.
• Kaneka Corp.
• SIBUR Holding PJSC
• StyroChem
• Synthos SA
• Wuxi Xingda Group
• Zotefoams Plc

 

This statistical study of the polystyrene foam market encompasses successful business strategies deployed by the key vendors. The polystyrene foam market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Arkema SA - The company offers Polystyrene products under the brand name of Forane.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The polystyrene foam market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Polystyrene Foam Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the polystyrene foam market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global chemicals market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Polystyrene Foam Market?

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52% of the market’s growth will originate from APAC during the forecast period. China, India, and South Korea (Republic of Korea) are the key markets for the polystyrene foam market in APAC. Market growth in this region will be faster than the growth of the market in regions.

High demand from emerging economies will facilitate the polystyrene foam market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 hampered the growth of the regional polystyrene foam market. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under partial or complete lockdowns due to the pandemic. In March 2020, India imposed a complete lockdown to prevent the community spread of the disease. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.

What are the Revenue-generating Type Segments in the Polystyrene Foam Market?

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The polystyrene foam market share growth in the Building and construction segment will be significant during the forecast period. The building and construction application segment held the largest share of the global polystyrene foam market. The increasing downstream demand from the building and construction industry will boost the global polystyrene foam market by the end of the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the polystyrene foam market size and actionable market insights on post COVID-19 impact on each segment.

 

Polystyrene Foam Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 4.04%
Market growth 2021-2025	$ 5.72 billion
Market structure	Fragmented
YoY growth (%)	3.20
Regional analysis	APAC, North America, Europe, MEA, and South America
Performing market contribution	APAC at 52%
Key consumer countries	China, US, Germany, India, and South Korea (Republic of Korea)
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Arkema SA, BASF SE, Carpenter Co., DuPont de Nemours Inc., Kaneka Corp., SIBUR Holding PJSC, StyroChem, Synthos SA, Wuxi Xingda Group, and Zotefoams Plc
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, Market condition analysis for 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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What are the Key Data Covered in this Polystyrene Foam Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive polystyrene foam market growth during the next five years
• Precise estimation of the polystyrene foam market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the polystyrene foam industry across APAC, North America, Europe, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of polystyrene foam market vendors

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