Jan 5, 2021   SOURCE: BusinessWire

Expanded Polystyrene Market for Packaging by End-user, by Application, and by Geography: Opportunity Analysis and Industry Forecast, 2020-2024 | Technavio

The global expanded polystyrene market for packaging size is expected to grow by USD 1.84 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period.

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Technavio has announced its latest market research report titled Global Expanded Polystyrene Market for Packaging 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Expanded Polystyrene Market for Packaging 2020-2024 (Graphic: Business Wire)

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The high recyclability of expanded polystyrene is one of the major factors propelling market growth. However, factors such as the popularity of bioplastic packaging will hamper market growth.

With growing concerns about the usage of plastic, governments of several countries are focusing on eliminating plastic packaging. The government of the UK has already announced its plan to eliminate the use of all avoidable plastic, including food packaging. The growing environmental awareness has also induced many brands to adopt expanded polystyrene for sustainable packaging as it is manufactured using recyclable materials. The recyclability of expanded polystyrene is considered economically viable, and it can be recycled in either open-loop or closed-loop processes. After recycling, they can be used again in the same processes. The high recyclability of expanded polystyrene is one of the key drivers fueling the growth of the expanded polystyrene market size.

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Global Expanded Polystyrene Market for Packaging: Application Landscape

In the electronic appliances industry, expanded polystyrene is used for packaging electronic appliances such as blenders, washing machines, air conditioners, personal computers, scanners, and television screens to protect them and ensure their safe transportation. The use of expanded polystyrene in packaging reduces the impact of force and stress on the packed appliances to almost negligible due to the presence of cushioning materials. This is expected to increase the demand for expanded polystyrene for packaging during the forecast period. The increasing production of consumer electronics and the wide range of applications of expanded polystyrene in consumer electronics packaging is also supporting the growth of this segment.

Global Expanded Polystyrene Market for Packaging: Geographic Landscape

APAC was the largest expanded polystyrene market for packaging in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rapidly expanding e-commerce, fast-moving consumer goods (FMCG), household appliances, and personal care end-user industries will significantly drive expanded polystyrene market growth for packaging in this region over the forecast period. 63% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for expanded polystyrene for packaging in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Companies Covered

  • Alpek SAB de CV
  • BASF SE
  • Kaneka Corp.
  • NOVA Chemicals Corp.
  • Saudi Basic Industries Corp.
  • SUNPOR Kunststoff GmbH
  • Synthos SA
  • The JACKON GROUP
  • Total SA
  • Versalis Spa

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2019, 2020, till 2024
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

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Expanded Polystyrene Market for Packaging 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist in expanded polystyrene market for packaging growth during the next five years
  • Estimation of the expanded polystyrene market for packaging size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the expanded polystyrene market for packaging
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of expanded polystyrene market for packaging, vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Electronic appliances - Market size and forecast 2019-2024
  • Food and beverages - Market size and forecast 2019-2024
  • Healthcare - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alpek SAB de CV
  • BASF SE
  • Kaneka Corp.
  • NOVA Chemicals Corp.
  • Saudi Basic Industries Corp.
  • SUNPOR Kunststoff GmbH
  • Synthos SA
  • The JACKON GROUP
  • Total SA
  • Versalis Spa

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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