(MENAFN- GlobeNewsWire - Nasdaq) The global polystyrene packaging market size is calculated at USD 25.67 billion in 2024 and is expected to reach around USD 37.92 billion by 2033, with a CAGR of 4.43% from 2024 to 2033.Ottawa, Oct. 02, 2024 (GLOBE NEWSWIRE) -- The global polystyrene packaging market size is predicted to increase from USD 26.81 billion in 2025 to approximately USD 37.92 billion by 2033, according to a study published by Towards Packaging a sister firm of Precedence Statistics. The industry is expected to grow at a CAGR of 4.43% between 2024 and 2034.
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Key Takeaways: Leading Factors of the Polystyrene Packaging Market
Providing lightweight material for easy shipping process is the major factor that drives the market. Cost-effectiveness drives growth in North America due to reduction in shipping costs. Food and beverage industry is the dominating sector in market due to consumer preferences. Increase in environmental impact is an unceasing challenge for the market.
Market Overview
The polystyrene packaging market revolves around the distribution and production of polystyrene-based materials which are used in packaging due to their versatile nature and lightweight feature. Along with this, being durable and providing resistance to external factors are the leading objectives of the market. The polystyrene material being cost-effective and customizable increase the packaging demand of the market .
The thermal insulation feature attributes to the versatile function of polystyrene packaging market. The lightweight material also reduces cost of transportation and packaging. The superior insulation is the mini factor which protects the product from temperature changes and climatic conditions.
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Driver
Disposable and Recyclable Function to Drive the Industry
The major driving factor is the disposable factor when the polystyrene material is used in single-use plastics which are disposable after their use. They are mostly used in food packaging industry due to their cheap and ready availability and also provides a robust protection. The polystyrene material is used for disposable food and drink containers.
The focus on recycling and reusing polystyrene packaging can drive the market and also reduce polystyrene waste from filling the landfills. Although not all forms of polystyrene can be recycled, expanded polystyrene (EPS) can be recycled due to it being made of 98% air and 2% plastic.
Restraint
Environmental Impacts
The leading challenges which hinder the growth of the polystyrene packaging market is environmental impact and increasing sustainable restrictions against use of polystyrene material. The breaking down of polystyrene product into small microplastics is harmful for the marine and bird species and also impacts environment due to its resistance to decomposition. Apart from this, restrictions have been imposed on use of polystyrene materials in packaging on national levels and local levels.
In addition, during manufacturing process, polystyrene material releases ozone into atmosphere due to which respiratory and air pollutants problems are caused. Furthermore, excessive use of polystyrene has been banned as well.
Technological Advancement and AI Integration: Market's Largest Potential
The technological advancement in expanded polystyrene is advantageous for the polystyrene packaging market due to its properties which are lightweight insulation material and tailored-made shapes and it can be easily recycled. There are various forms of polystyrene which are EPS and EPP and are used in construction foundation due to its shock absorbing and lightweight properties.
Apart from this, VIPs and PIR are used in environmental products and small or large spaces due its high performance and custom solutions. Furthermore, Hybrid foams are used to gain unique properties.
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Opportunity
Recycling Structure and Circular Economy to Act as an Opportunity
The polystyrene packaging market offers recycling feature which increase the market rate if EPS recycling facilities are improved in the region and are partnered with region initiatives. Countries with demand outstripping supply can create polystyrene market opportunities with adoption of recycling infrastructures. The circular economy offers close loop system to the market players to gain their profit margins. Increase in EPS recycling schemes will increase the polystyrene packaging market demand.
Regional Insights
Asia-Pacific to Sustain the Dominance
Asia-Pacific is the dominating region and has the largest share in polystyrene packaging market due to its constant economic growth which is the result of rapid urbanization and increasing industrialisation. According to the Supreme Petrochem, the polystyrene material is used in industrialisation due to its insulated panel systems for facades, walls, roofs and floors in buildings and is also used as flotation material in the construction of marinas and pontoons.
Furthermore, due to its lightweight properties, it is used in roads and railway construction and is also used in infrastructure development aw well. Countries like India, China, Indonesia, and Thailand are the major contributors in polystyrene packaging market.
In January 2023, Plastindia Foundation had requested the Indian Government lower the import of polymer and increase custom duty on finished plastic products in Union Budget 2023-24 which would have supported domestic plastic industry. The president of Plastindia Foundation, Jigish Doshi, had released a statement that the company supports the Make in India and Aatmanirbhar Bharat initiatives.
Europe has made significant contribution to the polystyrene packaging market due to its focus on sustainability which is promoted by the Europeans and the European parliament as well. EUMEPS, the Association for European Manufacturers of Expanded Polystyrene, is the major promotor which represents EPS as the sustainable choice for insulation and packaging solutions. The initiatives EUMEPS demonstrates the versatility of EPS and aims to include it in future endeavours. The features like cost-effectiveness and high performance gives advantage to the market and increases its demand in Europe. The consumer demand for polystyrene packaging increased as the Europeans prefer environmentally sound and recyclable material and along with it, it is visually appealing for the consumers.
In July 2024, Polystyvert which was a leading player in recycling technologies had announced that they had secured $16 million and that facility was supported by both European and North American Backers. The Series B fundraising was aimed to reach a total of $30million and had anticipated to grow more in future.
North America is the fastest growing region in polystyrene packaging market due to its food and beverage and construction sector which is increasing the demand of polystyrene packaging. The use of polystyrene foam in food and beverage sector is due to its insulation and air composition which ranges between 98% air and 2% polystyrene. FDA has regulated the use of polystyrene in food packaging by evaluating the safety of the food contact material, polystyrene, and also the safety of the substance that may migrate, styrene.
The additional factor of styrene is that it can be used as a food additive in small amounts to baked goods, frozen dairy products, candy, gelatines, puddings and other food and has been approved by the FDA. The American region focuses on sustainable packaging solutions and has significantly contributed to the polystyrene packaging market.
In August 2024, Biden administration had announced that they had planned to focus on phasing out the single-use plastics – such as kitchen cutlery, cups and straws – across federal departments. They had also announced a new goal which was to phase out the single-use plastic from various services and packaging by 2027, and from all federal operations by 2035.
Top Companies Leading the Polystyrene Packaging Market
ACH Foam Technologies Alpek SAB de CV Arkema S.A. Alpek, S.A.B. De C.V. Jackon Monotez Sunpor Kunststoff Styrochem Versalis Sonoco Products Company Sealed Air Corp Huhtamaki Oyj Rogers Foam NEFAB GROUP Huebach Corporation Ohishi Sangyo Co., Ltd. Versalis S.P.A. Total S.A. Nova Chemicals Corporation Saudi Basic Industries Corporation (SABIC)
Recent Developments
| Company | Paag |
| Headquarters | Istanbul |
| Recent Development | In March 2023, Paag, a Bell Holding A.Ş. company had installed a PET bottle-to-bottle recycling system from Starlinger. The bottle is supplied to Senapa Stampa which was a sister company within Bell Holding. |
| Company | Trinseo |
| Headquarters | Switzerland |
| Recent Development | In March 2022, Trinseo had launched three STYRONTM polystyrene resins with renewable content and had aimed to achieve sustainable goals. |
Segmental Insights
By Material Type
The foam segment is the fastest growing segment in the polystyrene packaging market. It will dominate the market due to its properties which are providing heat and sound insulation and customization due to its versatile tailored-shape feature. The foam segment offers cost-effective prices and lightweight material which can is used in construction and railway sector.
The plastic segment is the fastest growing segment in the polystyrene packaging market. It is dominating due to its properties which are enhanced protection and flexibility. The plastic segment is can eliminate the single-use packaging approach and can also offer environmental benefit due to its reusable features. All these qualities ensure high quality packaging of products in small totes or large containers and this increases their demand in the market.
By End-User Industry
The food and beverage segment are the dominating segment in the polystyrene packaging market. The segment dominates due to increasing consumer awareness regarding hygiene and due to visual appeal as well. The polystyrene packaging prevents product contamination, increases the supply chain market due to e-commerce and reduces packaging waste by following government guidelines. The food safety awareness and sustainability standards increase the polystyrene packaging demand in food sector due to its versatile and lightweight properties as well.
The electronic segment is the fastest growing segment in polystyrene packaging market. The segment dominates due to its shock-absorbing properties which are essential for the electronic devices packaging which needs protection from damage. The easy handling of packaging is also essential and efficient for electronic devices.
More Insights in Towards Packaging
The global adherence packaging market size reached US$ 1.1 billion in 2023 and is projected to hit around US$ 2.05 billion by 2033, expanding at a CAGR of 6.43% during the forecast period from 2024 to 2033.
The global bioplastic packaging market size reached US$ 17.99 billion in 2023 and is projected to hit around US$ 87.98 billion by 2033, expanding at a CAGR of 17.2% during the forecast period from 2024 to 2033.
The global micro packaging market size is estimated to reach USD 21.64 billion by 2033, up from USD 4.92 billion in 2023, at a compound annual growth rate (CAGR) of 16.09% from 2024 to 2033.
The global tube packaging market size is estimated to reach USD 18.68 billion by 2033, up from USD 10.73 billion in 2023, at a compound annual growth rate (CAGR) of 5.82% from 2024 to 2033.
The global barrier films packaging market size is estimated to reach USD 57.74 billion by 2033, up from USD 32.67 billion in 2023, at a compound annual growth rate (CAGR) of 5.99% from 2024 to 2033.
The global polyethylene films market size is forecasted to expand from USD 90.19 billion in 2022 to accomplish a supposed USD 139.98 billion by 2032, increasing at 4.5% CAGR between 2023 and 2032.
The global child resistant packaging market size is predicted to climb from USD 25.25 billion in 2022 to hit a presumed USD 48.07 billion by 2032, enlarging at a 6.7% CAGR between 2023 and 2032.
The global plastic food packaging market size is anticipated to rise from USD 54.98 billion in 2022 to attain a calculated USD 88.28 billion by 2032, increasing at a 4.9% CAGR between 2023 and 2032.
The global flexible plastic packaging market size is to expand from USD 178.60 billion in 2022 to secure USD 289.52 billion by 2032, broadening at a 5.0% CAGR between 2023 and 2032.
The global PCR plastic packaging market size is anticipated to rise from USD 39.78 billion in 2022 to secure a forecasted USD 72.93 billion by 2032 at a growing CAGR of 6.3% between 2023 and 2032.
Polystyrene Packaging Market Segments
By Material Type
Bonding Wire Organic Substrate Ceramic Package Leadframes Encapsulation Resins Die Attach Material Thermal Interface Materials Solder Balls Others
By Technology Type
Advanced Packaging Flip Chip Embedded Die 5D/3D SIP Fan-in Wafer Level Packaging (FI-WLP) Fan-out Wafer Level Packaging (FO-WLP) Traditional Packaging
By End Use
Consumer Electronics Automotive Healthcare IT & Telecommunication Aerospace & Defence Others
By Region
North America Europe Germany UK France Italy Spain Sweden Denmark Norway
Asia Pacific China Japan India South Korea Thailand
Latin America Middle East and Africa (MEA) South Africa UAE Saudi Arabia Kuwait
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About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
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