Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- The report titled "Polystyrene Foam Product Manufacturing Market" has recently added by MarketInsightsReports to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.
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Top Companies in the Global Polystyrene Foam Product Manufacturing Market: Wuxi Xingda New Foam Plastics Materials Co. Ltd, Dart Container Corporation, O. N. Sunde AS, Alpek S.A.B. de C.V., Synthos S.A and Other
By End Use Products: Packaging, Automotive, Construction, Others.
The polystyrene foam products market size reached a value of nearly $62.4 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% to nearly $75.1 billion by 2023. Rapid growth in manufacturing and construction activity in emerging markets, increasing demand for electronic products globally and growth in the demand for automobiles globally are contributing to the growth of the polystyrene foam market. Restraints such as stringent regulations relating to polystyrene foam products, increasing access to alternatives to polystyrene foam products and rising trade protectionism threaten the polystyrene foam products market.
The packaging segment accounted for the largest share of the polystyrene foam products market in 2018 at $30.5 billion. The highest growth in the polystyrene foam products market is also projected to come from the packaging segment, which is forecast to grow at a CAGR of 4.5%. Major factors for this growth include increasing demand for electronic products and packaged food products globally.
Asia Pacific is the largest region in the polystyrene foam products market, accounting for 39% of the global market. It was followed by Western Europe and North America. Going forward, the fastest growth in the polystyrene foam products market is predicted for Asia Pacific, where it is expected at grow at a CAGR of 6.5%, followed by Western Europe at a CAGR of 2.6%.
China is the largest country in terms of value in the polystyrene foam products market. India and China are forecast to have the fastest growth at CAGRs of 7.7% and 3.6% respectively.
The market for polystyrene foam products is fragmented. Major players in the market are Wuxi Xingda New Foam Plastics Materials Co., Ltd., Dart Container Corporation, O. N. Sunde AS, Alpek S.A.B. de C.V., Synthos S.A. and others.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Polystyrene Foam Product Manufacturing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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