Expanded polystyrene for packaging market to grow by USD 5,379.03 million between 2022 and 2027; Growth driven by growing e-commerce sector - Technavio

NEW YORK, May 2, 2023 /PRNewswire/ -- The expanded polystyrene for packaging market size is forecast to increase by USD 5,379.03 million from 2022 to 2027, at a CAGR of 8.5%, according to the recent market study by Technavio. The growth of the market will be driven by the growth of e-commerce sector, environmental benefits associated with expanded polystyrene, and high rate of recycling of expanded polystyrene. Charts & data tables about market and segment sizes for a historic period (2017-2021) and forecast period (2023-2027) have been covered in this report. Download The Sample Report

Vendor Analysis

The global expanded polystyrene for packaging market is fragmented due to the presence of several vendors that provide expanded polystyrene material. Large vendors hold a major share of the market. They are focusing on R&D to develop advanced packages. The entry of new vendors is limited due to the need for significant capital investments. The key vendors are focusing on M&A to improve their geographical footprint and gain an edge over their competitors. Some of the key vendors covered in the report include:

• Chimei Corp. - The company offers expanded polystyrene where its resistance to moisture, in conjunction with its strength, durability, and long-term R-value, make it a suitable insulation material in both roofing and sheathing applications.
• DuPont de Nemours Inc. - The company offers expanded polystyrene which is a thermoplastic material, it can be re-melted and re-inserted into the manufacture of new XPS insulation, thus reducing waste.
• Eni Spa - The company offers expanded polystyrene which is approved for most polyurethane (PU) applications, including residential appliances, commercial refrigeration, construction panels and doors, as well as spray foam.
• Epsilyte LLC - The company offers expanded polystyrene which can be easily processed using injection molding and extrusion because of its high transparency properties and bright, high-gloss surface.
• Formosa Chemicals and Fibre Corp.
• INEOS Group Holdings SA
• Kaneka Corp.
• LG Chem Ltd.
• NOVA Chemicals Corp.
• PS Japan Corp.
• Saudi Basic Industries Corp.
• Supreme Petrochem Ltd.
• TotalEnergies SE
• Trinseo PLC
• Videolar Innova SA

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• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Market Segmentation:

The market is segmented by application (electronic appliances, food and beverage, healthcare, and others), type (white and grey), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

• The market growth in the electronic appliances segment will be significant over the forecast period. Expanded polystyrene is widely used in the electronics industry as a packaging material for appliances such as blenders, washing machines, air conditioners, personal computers, scanners, and television screens to provide protection from damage. The growth of the electronics industry has created an increased demand for lightweight packaging materials. In addition, the increasing popularity of cell phones, televisions, and other smart technology devices is also contributing to the growth of the segment.
• APAC will account for 70% of the market growth during the forecast period. The rapid expansion of e-commerce, FMCG, household appliances, pharmaceutical, and personal care end-user industries is a major factor driving the growth of the regional market. The change in lifestyle patterns and an increase in disposable incomes have increased the demand for convenience foods, such as packaged food products. This will increase the application scope of expanded polystyrene for packaging in APAC during the forecast period.

Market Dynamics:

Key DRIVERS:

• Growth of e-commerce sector
• Environmental benefits associated with expanded polystyrene
• High rate of recycling of expanded polystyrene

The high penetration of the internet and smartphones has fostered the growth of the global e-commerce industry. Also, the rapid growth in urban population and the convenience offered by e-commerce websites have increased consumer inclination toward online shopping. Packaging plays a major role in the e-commerce industry. It is crucial in preventing unfavorable external elements, such as biological contamination, degradation, physical damage, and counterfeiting. Expanded polystyrene is extensively used as a packaging material for packaging food and beverages, electronics, personal care products, and healthcare products. Thus, the growth of the global e-commerce industry will subsequently drive the growth of the market in focus.

Major Trends:

• Growing demand for lightweight containers and packaging
• Growth of food delivery and takeaway market
• Increasing number of M&A

The use of lightweight containers and packaging helps reduce the environmental impact of packaging materials. It reduces the mass of packages effectively as well as the cost of production. Hence, various organizations are increasingly adopting lightweight packaging solutions. The trend is gaining more momentum in the transportation industry as lightweight packaging materials reduce fuel consumption and operational cost. These factors are positively influencing the growth of the market.

Key Challenges:

• Popularity of bioplastic packaging
• Presence of stringent regulations related to the use of expanded polystyrene for packaging
• Intense competition from low-cost Asian manufacturers

The popularity of bioplastics is increasing among end users with growing concerns regarding the environmental impact of using plastic packaging materials. Many governments have introduced various initiatives to promote the use of bioplastics over hazardous polymer and plastic materials. This has driven companies to shifting to bioplastics, including flexible bioplastic packaging. The rising use of bioplastics for packaging is reducing the popularity of expanded polystyrene, which is negatively affecting the growth of the market.

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What are the key data covered in this expanded polystyrene for packaging market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the expanded polystyrene for packaging market between 2023 and 2027
• Precise estimation of the size of the expanded polystyrene for packaging market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the expanded polystyrene for packaging market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of expanded polystyrene for packaging market vendors

Related Reports:

The polystyrene (PS) market is estimated to grow at a CAGR of 5.09% between 2022 and 2027. The size of the market is forecast to increase by USD 7,591.25 million. The market is segmented by type (expanded polystyrene (EPS), high impact polystyrene (HIPS), and general purpose polystyrene (GPS)), end-user (packaging, electronics, construction, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The spray polyurethane foam market is estimated to grow at a CAGR of 9.04% between 2022 and 2027. The size of the market is forecasted to increase by USD 1,312.48 million. The market is segmented by application (residential, commercial, and industrial), type (open cell and closed cell), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global expanded polystyrene market for packaging 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global expanded polystyrene market for packaging 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Electronic appliances - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Electronic appliances - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Electronic appliances - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Electronic appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Electronic appliances - Year-over-year growth 2022-2027 (%)

• 6.4 Food and beverage - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Food and beverage - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Food and beverage - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Food and beverage - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Food and beverage - Year-over-year growth 2022-2027 (%)

• 6.5 Healthcare - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)
• Exhibit 51: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 52: Chart on Type - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 54: Chart on Comparison by Type
• Exhibit 55: Data Table on Comparison by Type

• 7.3 White - Market size and forecast 2022-2027 
• Exhibit 56: Chart on White - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on White - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on White - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on White - Year-over-year growth 2022-2027 (%)

• 7.4 Grey - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Grey - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Grey - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Grey - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Grey - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 64: Market opportunity by Type ($ million)
• Exhibit 65: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 107: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Alpek SAB de CV
• Exhibit 119: Alpek SAB de CV - Overview
• Exhibit 120: Alpek SAB de CV - Business segments
• Exhibit 121: Alpek SAB de CV - Key offerings
• Exhibit 122: Alpek SAB de CV - Segment focus

• 12.4 Arkema Group
• Exhibit 123: Arkema Group - Overview
• Exhibit 124: Arkema Group - Business segments
• Exhibit 125: Arkema Group - Key news
• Exhibit 126: Arkema Group - Key offerings
• Exhibit 127: Arkema Group - Segment focus

• 12.5 Axion Recycling Ltd.
• Exhibit 128: Axion Recycling Ltd. - Overview
• Exhibit 129: Axion Recycling Ltd. - Product / Service
• Exhibit 130: Axion Recycling Ltd. - Key offerings

• 12.6 BASF SE
• Exhibit 131: BASF SE - Overview
• Exhibit 132: BASF SE - Business segments
• Exhibit 133: BASF SE - Key news
• Exhibit 134: BASF SE - Key offerings
• Exhibit 135: BASF SE - Segment focus

• 12.7 Chimei Corp.
• Exhibit 136: Chimei Corp. - Overview
• Exhibit 137: Chimei Corp. - Product / Service
• Exhibit 138: Chimei Corp. - Key offerings

• 12.8 DuPont de Nemours Inc. 
• Exhibit 139: DuPont de Nemours Inc. - Overview
• Exhibit 140: DuPont de Nemours Inc. - Business segments
• Exhibit 141: DuPont de Nemours Inc. - Key news
• Exhibit 142: DuPont de Nemours Inc. - Key offerings
• Exhibit 143: DuPont de Nemours Inc. - Segment focus

• 12.9 Eni Spa
• Exhibit 144: Eni Spa - Overview
• Exhibit 145: Eni Spa - Business segments
• Exhibit 146: Eni Spa - Key offerings
• Exhibit 147: Eni Spa - Segment focus

• 12.10 Epsilyte LLC
• Exhibit 148: Epsilyte LLC - Overview
• Exhibit 149: Epsilyte LLC - Product / Service
• Exhibit 150: Epsilyte LLC - Key offerings

• 12.11 Formosa Chemicals and Fibre Corp. 
• Exhibit 151: Formosa Chemicals and Fibre Corp. - Overview
• Exhibit 152: Formosa Chemicals and Fibre Corp. - Product / Service
• Exhibit 153: Formosa Chemicals and Fibre Corp. - Key offerings

• 12.12 INEOS Group Holdings SA 
• Exhibit 154: INEOS Group Holdings SA - Overview
• Exhibit 155: INEOS Group Holdings SA - Business segments
• Exhibit 156: INEOS Group Holdings SA - Key news
• Exhibit 157: INEOS Group Holdings SA - Key offerings
• Exhibit 158: INEOS Group Holdings SA - Segment focus

• 12.13 Kaneka Corp.
• Exhibit 159: Kaneka Corp. - Overview
• Exhibit 160: Kaneka Corp. - Business segments
• Exhibit 161: Kaneka Corp. - Key offerings
• Exhibit 162: Kaneka Corp. - Segment focus

• 12.14 LG Chem Ltd.
• Exhibit 163: LG Chem Ltd. - Overview
• Exhibit 164: LG Chem Ltd. - Business segments
• Exhibit 165: LG Chem Ltd. - Key news
• Exhibit 166: LG Chem Ltd. - Key offerings
• Exhibit 167: LG Chem Ltd. - Segment focus

• 12.15 NOVA Chemicals Corp.
• Exhibit 168: NOVA Chemicals Corp. - Overview
• Exhibit 169: NOVA Chemicals Corp. - Product / Service
• Exhibit 170: NOVA Chemicals Corp. - Key offerings

• 12.16 PS Japan Corp.
• Exhibit 171: PS Japan Corp. - Overview
• Exhibit 172: PS Japan Corp. - Product / Service
• Exhibit 173: PS Japan Corp. - Key offerings

• 12.17 Ravago
• Exhibit 174: Ravago - Overview
• Exhibit 175: Ravago - Product / Service
• Exhibit 176: Ravago - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

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