Selbyville, Delaware,, May 17, 2023 (GLOBE NEWSWIRE) --
The polystyrene packaging market valuation is anticipated to surpass USD 3 billion by 2032, as reported in a research study by Global Market Insights Inc. Increasing demand for lightweight and durable packaging solutions, which are cost-effective and provide superior protection to the products during transportation, will positively influence the business development. Polystyrene is a thermoplastic polymer widely used in packaging applications, including food and beverage, electronics, healthcare, and consumer goods, on account of the exceptional insulation and cushioning properties.
The commendable rise in the popularity of online shopping in recent years has also boosted the demand for polystyrene packaging materials owing to their ability to protect products from damage during shipping. The report also highlights some of the challenges facing the polystyrene packaging market growth, including environmental concerns related to the disposal of polystyrene waste. However, the development of biodegradable packaging materials and continuous advancements in recycling technologies, could help address these challenges in the coming years, thus, augmenting product demand.
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With respect to type, the polystyrene packaging market size from the bags segment is set to record a sizeable valuation by 2032. Polystyrene bags, also known as foam bags or Styrofoam bags, are widely used in packaging applications due to their lightweight, durability, and ease of access. These attributes make them ideal for usage across various end-use verticals, including food and beverages, electronics, and pharmaceuticals. Besides, these are easily customizable and relatively cost-effective than other packaging materials such as paper or cardboard, making them an effective branding tool for businesses, thus, driving the segment growth.
Regarding the end-user, the polystyrene packaging market share from the pharmaceutical segment could expand notably during 2023 and 2032. Polystyrene packaging provides an effective barrier against moisture, light, and air, which can degrade drugs and reduce their effectiveness while protecting drugs from physical damage during transportation. In addition, polystyrene packaging meets the strict packaging and storing requirements set by regulatory bodies such as the FDA, fostering its usage across the pharmaceutical industry.
Geographically, the North America polystyrene packaging market is expected to garner appreciable gains through 2032, owing to the increasing demand for packaged food and beverages, electronic products, and healthcare products. Additionally, the flourishing e-commerce sector, stringent regulatory framework across several economies, and growing popularity of versatile, cost-effective, and convenient packaging solutions are likely to stimulate industry revenue streams across North America.
Global Polystyrene Packaging Market key players includes Ohishi Sangyo Co., Ltd., Alpek S.A.B. de C.V, Sonoco Products Company, MONOTEZ, Kaneka Corporation, SUNPOR, Versalis S.p.A., Heubach Corporation, Nefab Group, Synthos.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Polystyrene Packaging industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Application trends
2.5 End-Use trends
Chapter 3 Polystyrene Packaging Industry Insights
3.1 Impact of COVID-19 outbreak
3.2 Impact of Russia Ukraine war
3.3 Polystyrene Packaging industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Pricing analysis
3.8 Regulatory landscape
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfalls & challenges
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
