Global Expanded Polystyrene Market for Packaging: About this market
expanded polystyrene packaging market analysis considers sales from electronic appliances, food and beverages, healthcare, and others. Our analysis also considers the sales of expanded polystyrene packaging in APAC, Europe, North America, South America, and MEA. In 2018, the electronic appliances segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing global consumer electronics and smart gadgets will play a significant role in the electronic appliances segment to maintain its market position. Also, our global expanded polystyrene packaging market report looks at factors such as environmental benefits associated with expanded polystyrene, growth of the e-commerce sector, and high rate of recycling of expanded polystyrene. However, popularity of bioplastic packaging, presence of stringent regulations related to use of expanded polystyrene for packaging, and popularity of substitutes may hamper the growth of the expanded polystyrene packaging industry over the forecast period.
Global Expanded Polystyrene Market for Packaging: Overview
The high rate of recycling of expanded polystyrene
Expanded polystyrene is the most sustainable packaging format, as it is mostly manufactured using recyclable materials. Expanded polystyrene uses styrene monomer as its base material. The recyclability of expanded polystyrene is considered economically viable and can be used again in the same applications. The sustainable features of expanded polystyrene will lead to the expansion of the global expanded polystyrene packaging market at a CAGR of almost 6% during the forecast period.
Growing demand for lightweight containers and packaging
The demand for expanded polystyrene for packaging in industries such as food and beverage, healthcare, and electronic appliances is continuously evolving. Lightweight containers and packaging help reduce the environmental impact of consumer packaging and support enterprises to contribute to sustainability. In the transportation and warehousing industries, lightweight containers and packaging are in high demand as they reduce fuel consumption and operational costs. This demand for lightweight containers and packaging is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global expanded polystyrene packaging market during the forecast period 2019-2023, click here.
With the presence of several major players, the global expanded polystyrene packaging market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading expanded polystyrene packaging manufacturers, that include Alpek SAB de CV, BASF SE, Kaneka Corp., NOVA Chemicals Corp., SABIC, Sunpor Kunststoff GmbH, Synthos SA, The JACKON GROUP, Versalis Spa.
Also, the expanded polystyrene packaging market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.