Polystyrene Foam Market Size (2024 - 2029)

Polystyrene Foam Market Analysis

The Global Polystyrene Foam Market is projected to register a CAGR of over 5% during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the construction industry was significantly affected. This, in turn, has unfavorably impacted the consumption of polystyrene foam. The market is projected to grow steadily, owing to increased building and construction activities in 2021.

• Over the short term, development of green construction, coupled with growing demand for polystyrene foam in the protective packaging applications in developed as well as emerging economies worldwide, are some of the driving factors augmenting growth of the market studied.
• However, volatility in raw material prices is a key factor anticipated to restrain growth of the target industry over the forecast period. Further, strict government regulation pertaining to use of polystyrene foam such as the ban on single-use foam products may hinder growth of the studied market.
• Nevertheless, emerging applications for polystyrene foam Emerging Applications in marine floatation and floating decks is likely to create lucrative growth opportunity for the global market soon.
• Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to rise in the consumption of polystyrene foam from infrastructure, construction, and packaging sectors in the counties of this region including China, Japan, and India.

Polystyrene Foam Industry Segmentation

Polystyrene foam is, commonly referred to as styrofoam and it is widely used as single-use consumer goods. Polystyrene foam is primarily composed of mor than 95% of air and around 5% plastic. It is widely used in range of end-use applications, owing to its superior properties including good damping properties, good thermal insulation, and light weight property. Some of the key applications of polystyrene foam includes lightweight protective packaging, home and appliance insulation, automobile parts, foodservice and food packaging, surfboards, roadway and roadbank stabilization systems among others. The polystyrene foam market is segmented by type, application, and geography. By type, the market is segmented into expandable polystyrene foam and extruded polystyrene foam. By application, the market is segmented into building and construction, packaging, and other applications. The report also covers the market size and forecasts for the polystyrene foam market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD Million).