The polystyrene foam market manufactures a type of rigid cellular plastic which is made from polystyrene resin. It is widely used for both insulation and packaging purposes. Polystyrene foam provides excellent thermal insulation and protects products from damage during shipping and storage. It is lightweight, water resistant and has a high strength to weight ratio. The rising construction activities across the globe especially in developing nations are accelerating the demand for insulation materials which is driving the growth of the polystyrene foam market.

The Global polystyrene foam market is estimated to be valued at US$ 29.95 Bn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the polystyrene foam are Kingspan Group, Sunpor Kunststoff GmbH, Drew Foam, Xella International, Alpek, BASF SE, ChovA, DuPont, Knauf Insulation, Synthos S.A., Shrushi Polymers Private Limited., Kamaksha Thermocol, K. K. Nag Pvt. Ltd, Styrotech, Inc., Michigan Foam Products LLC, ICA, Supreme Petrochem Ltd, Kaneka Corporation , Wuxi Xingda foam plastic new material Limited, Tamai Kasei Co., Ltd.

The Polystyrene Foam Market Demand includes burgeoning e-commerce sector which is driving packaging needs and increasing usage of polystyrene foam in various end use industries like construction, packaging etc.

Globally, the Asia Pacific region dominates the polystyrene foam market due to rapid urbanization and industrialization activities. However, North America and Europe are also significant markets.

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