Polystyrene Foam Market: to reach USD 36.92 Billion by 2029

Polystyrene Foam Market was valued at USD 27.59 Billion in 2022, and it is expected to reach USD 36.92 Billion by 2029, exhibiting a CAGR of 4.25 % during the forecast period (2023-2029)

Polystyrene foams (made up of 95-98% air) are excellent thermal insulators and are frequently used as building insulation materials, such as in insulating concrete forms and structural insulated panel construction systems. PS foams have strong damping qualities and are thus commonly utilised in packing. Non-weight-bearing architectural constructions are also made of foam (such as ornamental pillars). In the medium term, the development of green building, together with rising demand for polystyrene foam in protective packaging applications in developed and emerging countries globally, are some of the key factors bolstering market expansion. However, unpredictability in raw material pricing is a crucial element that is expected to limit the Polystyrene Foam Market growth.