A detailed study on Expanded Polystyrene for Packaging market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
In 2023, the expanded polystyrene for packaging market is projected to reach a market value of US$ 11.05 billion, and by 2033, it is projected to reach a market value of US$ 25.2 billion, growing at an estimated CAGR of 8.59%.
Expanded Polystyrene for Packaging Market refers to the industry involved in the production and supply of expanded polystyrene materials specifically for packaging purposes. EPS is highly preferred in the packaging sector due to its exceptional protective qualities, including shock absorption, cushioning, and thermal insulation. It finds extensive application in the packaging of electronic goods, appliances, pharmaceuticals, food and beverages, and various other products.
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Market Trends and Drivers.
The Expanded Polystyrene for Packaging Market is influenced by several trends and drivers that contribute to its growth and evolution. Let’s explore some of these key factors:
1. Increasing Demand for Sustainable Packaging Solutions- In today’s environmentally conscious world, there is a growing demand for sustainable packaging solutions. EPS is recyclable and offers an energy-efficient alternative to traditional packaging materials. Its lightweight nature also reduces transportation costs and carbon emissions, making it an attractive choice for eco-friendly packaging.
2. Surge in E-commerce and Online Shopping- The rapid growth of the e-commerce industry has significantly impacted the packaging sector. With the rise in online shopping, the need for secure and reliable packaging solutions has amplified. EPS, with its excellent shock absorption and protective qualities, has become a preferred choice for packaging fragile items during transportation.
3. Advancements in EPS Manufacturing Techniques- Technological advancements have played a crucial role in enhancing the production processes of EPS. The introduction of computer-aided design (CAD) and computer-aided manufacturing (CAM) has enabled manufacturers to create complex and customized packaging designs efficiently. These advancements have expanded the possibilities for innovative packaging solutions using EPS.
Key Expanded Polystyrene for Packaging Market Takeaways and Projections
- The U.S. is expected to lead North America Expanded Polystyrene for Packaging market, projecting the fastest growth in the region between 2023-2033.
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing a significant revenue share in the region through 2033.
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Report Benefits & Key Questions Answered
- Expanded Polystyrene for Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the Expanded Polystyrene for Packaging market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Expanded Polystyrene for Packaging market for the forecast period 2023-2033.
- Expanded Polystyrene for Packaging Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
- Expanded Polystyrene for Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Expanded Polystyrene for Packaging for the assessment period. As per the study, the demand for Expanded Polystyrene for Packaging will grow at a robust CAGR between 2023-2033.
- Expanded Polystyrene for Packaging Company & Brand Share Analysis: A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global Expanded Polystyrene for Packaging market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
- Expanded Polystyrene for Packaging Market Trend Analysis: The latest study by FMI on the Expanded Polystyrene for Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Expanded Polystyrene for Packaging market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global Expanded Polystyrene for Packaging market. Some of the players in the global Expanded Polystyrene for Packaging market are
- BASF SE
- ACH Foam Technologies, Inc.
- Unipol Holland BV
- KANEKA CORPORATION
- Ravago
- Styrochem
- NOVA Chemicals Corporation
- Sunpor Kunststoff GMBH
- SABIC, DOW Inc.
- Synthos
- Versalis S.P.A.
- Alpek S.A.B. De Cv
- Sundolitt Ltd
Expanded Polystyrene for Packaging Market: Market Segmentation
Product:
- Black
- Grey
- White
Application:
- Sheets
- Trays & Clamshells
- Foam coolers
- Cups & bowls
- Packaging peanuts
End-use:
- Food and beverages
- Foodservice
- Healthcare
- Electronics and Electrical appliances
- Building and constructions
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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