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Global Polystyrene Foam Market: Overview

Polystyrene is defined as a synthetic aromatic polymer manufactured from monomer styrene. It can also be defined as a plastic that is used in wide range of applications for various functions. It is primarily employed in rigid items such as refrigerator crispers, printer cartridges, and coat hangers. Polystyrene Foam Market is a derivative of polystyrene known as styrofoam or expanded polystyrene (EPS). It is used in protective packaging of appliances and in products such as insulated disposable cups, meat trays, and panel insulation. Polystyrene foam is generally 95% to 98% air. It is considered a good thermal insulator and used in building insulation materials such as insulating concrete foams and structural insulated panel building systems. Polystyrene foam offers excellent damping properties; therefore, it is widely used in packaging of food and beverages, etc.

Based on type, the polystyrene foam market can be segmented into expandable polystyrene foam and extruded Polystyrene Foam Market. Expandable polystyrene foam and extruded polystyrene foam offer the same insulation property; however, the manufacturing process for both the polystyrene foams vary. Both the foams produce finished goods with different performance properties. Extruded polystyrene foam is manufactured by the continuous extrusion process, which helps in the production of homogeneous closed cells. On the other hand, expandable polystyrene foam is manufactured by expanding spherical beads in a mold, using heat and pressure to fuse the beads together. Expandable polystyrene foam is commonly found in almost all the applications of building and construction, packaging, etc. It is a white foam usually seen in refrigerators, insulations, packaging, etc. This foam consist of 96% to 98% of air and 2% to 4% of polystyrene.

Granules in the foam are heated at a certain temperature to form a low density block. As compared to extruded polystyrene, it is less expensive and light in weight. Expandable polystyrene foam is durable, strong, and light in weight. It is used in insulated panel systems for facades, walls, and roofs and floors in buildings. It is also used as flotation material in the construction of marinas and pontoons and as lightweight fill in road and railway construction. Expandable Polystyrene Foam Market possesses excellent shock absorbing properties. Therefore, it is ideal for usage in storing and packaging items such as chemicals and electronic equipment. Extruded polystyrene has the same properties of expandable Polystyrene Foam Market; however, it is manufactured using a different technology. This technology helps in the production of foam, which has smaller air pockets and is more uniform in size. Extruded polystyrene foam is generally used in the manufacture of demonstration panels. It is also used in construction areas.

Based on application, the polystyrene foam market can be divided into building & construction, packaging, and other industrial applications.  Polystyrene foam is an excellent insulator, which is light in weight and is used in wide range of insulation applications. For instance, it is used in residential, commercial, institutional, and industrial building sectors. Polystyrene foam is also used extensively in civil engineering. Despite its light weight, exceptional compressive strength, and block rigidity, polystyrene foam forms an excellent structural base material for civil engineering applications including road, railway, and bridge infrastructure.

Based on geography, the global polystyrene foam market can be split into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America and Europe are the prominent regions of the polystyrene foam market, led by the growth in packaging and construction industries. Companies operating in the polystyrene foam market in Asia Pacific and Latin America are investing significantly in research and development activities.   

Major players operating in the global polystyrene foam market include The Dow Chemicals Company, BASF Corporation, Chevron Phillips Company, and Polimeri Europa. These companies hold significant share of the market. Thus, the polystyrene foam market experiences intense competition. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Polystyrene Foam Market

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