Apr 11, 2019   SOURCE: BusinessWire

Global Polystyrene Foam Product Manufacturing Market to Reach ~$75 Billion by 2023 - Key Opportunities & Strategies Insights - ResearchAndMarkets.com

The "Polystyrene Foam Product Manufacturing Global Market Opportunities And Strategies To 2023" report has been added to ResearchAndMarkets.com's offering.

This report describes and evaluates the global polystyrene foam products manufacturing market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2023, the forecast period.

The polystyrene foam products market size reached a value of nearly $62.4 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% to nearly $75.1 billion by 2023.

Rapid growth in manufacturing and construction activity in emerging markets, increasing demand for electronic products globally and growth in the demand for automobiles globally are contributing to the growth of the polystyrene foam market. Restraints such as stringent regulations relating to polystyrene foam products, increasing access to alternatives to polystyrene foam products and rising trade protectionism threaten the polystyrene foam products market.

The packaging segment accounted for the largest share of the polystyrene foam products market in 2018 at $30.5 billion. The highest growth in the polystyrene foam products market is also projected to come from the packaging segment, which is forecast to grow at a CAGR of 4.5%. Major factors for this growth include increasing demand for electronic products and packaged food products globally.

Asia Pacific is the largest region in the polystyrene foam products market, accounting for 39% of the global market. It was followed by Western Europe and North America. Going forward, the fastest growth in the polystyrene foam products market is predicted for Asia Pacific, where it is expected at grow at a CAGR of 6.5%, followed by Western Europe at a CAGR of 2.6%.

China is the largest country in terms of value in the polystyrene foam products market. India and China are forecast to have the fastest growth at CAGRs of 7.7% and 3.6% respectively.

The market for polystyrene foam products is fragmented. Major players in the market are Wuxi Xingda New Foam Plastics Materials Co., Ltd., Dart Container Corporation, O. N. Sunde AS, Alpek S.A.B. de C.V., Synthos S.A. and others.

The best opportunities for polystyrene foam product manufacturers up to 2023 will arise in the global packaging end-user segment, which will gain $7.59 billion in annual sales. By country, China will yield the best opportunities at an increase of $2.45 billion, nearly twice as much as the second best, India. Strategies worth considering by polystyrene foam product manufacturers include adopting big data and IoT technologies, investing in expanding manufacturing operations, and improving infrastructure.

Scope

  • By End Use Products: Packaging, Automotive, Construction, Others
  • Companies Mentioned: Wuxi Xingda New Foam Plastics Materials Co. Ltd, Dart Container Corporation, O. N. Sunde AS, Alpek S.A.B. de C.V., Synthos S.A.
  • Time series: Five years historic and forecast
  • Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Companies Mentioned

  • ACH Foam Technologies
  • Alpek S.A.B. de C.V.
  • Atlas Roofing
  • Boyd Corporation
  • Dart Container Corporation
  • Dow Chemical
  • DuPont
  • Goldman Sachs
  • INEOS Enterprises' Styrenics Business
  • Novolex
  • O. N. Sunde
  • Synthos S.A.
  • The Waddington Group
  • Wuxi Xingda New Foam Plastics Materials Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/f7poiu