Global Thermocol Packaging Market Size Poised for Remarkable Growth, Reaching USD 24.03 Billion by 2030, Fueled by a 6.09% CAGR

Advertisement

The demand analysis of Global Thermocol Packaging Market size & share revenue was valued at around USD 14.98 billion in 2022 and is estimated to grow about USD 24.03 billion by 2030, at a CAGR of approximately 6.09% between 2 023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are BASF SE, Sealed Air Corporation, Sonoco Products Company, Synthos S.A., Styropack, Drew Foam Companies, Inc., Ineos Styrolution Group GmbH, Kaneka Corporation, Alpek SAB de CV, Nova Chemicals Corporation, Total SA, Styron LLC, S C Johnson & Son Inc., Flint Hills Resources LLC, Sunpor Kunststoff GmbH, Styrochem, Samsung Fine Chemicals Co. Ltd., LG Chem Ltd., ACH Foam Technologies LLC, Pregis Corporation, Armacell International S.A., Foam Supplies Inc., Jablite, Polystyrene Industries Ltd., Styromet GmbH & Co. KG., and others.

New York, NY, June 12, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Thermocol Packaging Market By Industry (Marine Industry, Agriculture Industry, Construction Industry, Pharmaceutical Industry, Electronics Industry, And Others), By Type (Thermocol Blocks, Thermocol Sheets, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Thermocol Packaging Market size & share in terms of revenue was valued at USD 14.98 billion in 2022 and it is expected to surpass around USD 24.03 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.09% during the forecast period 2023 to 2030.”

Advertisement

What is Thermocol Packaging? How big is the Thermocol Packaging Industry?

Report Overview:

The global thermocol packaging market size was worth around USD 14.98 billion in 2022 and is predicted to grow to around USD 24.03 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.09% between 2023 and 2030.

The thermocol packaging industry refers to the use of thermocol also known as expanded polystyrene (EPS) foam for packaging and insulation purposes. It includes the production and distribution of thermocol packaging products such as boxes, sheets, trays, and containers. There are several end-user industries that leverage the advantages of thermocol packaging. Some of these sectors include food and beverage, pharmaceuticals, electronics, and consumer goods.

The rise in the application of EPS foam is mainly driven by the cost-effectiveness of the packaging material. The product also offers versatility and is lightweight which further adds to the factors leading to a higher preference for thermocol. The rise in the e-commerce platform is one of the crucial reasons for the growth that the thermocol packaging industry has witnessed in recent times and it is expected to continue acting as an integral contributor. During the forecast period, the market players can expect a steady flow of income but they may also have to deal with certain restrictions and challenges.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs – https://www.zionmarketresearch.com/sample/thermocol-packaging-market

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 219+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Thermocol Packaging Market: Growth Factors

The global thermocol packaging market is projected to grow owing to the increasing demand for convenience food products such as ready-to-eat meals, frozen foods, and fast food items. Most of the companies make use of thermocol-based packaging to safely secure the items during its storage period or while transportation. Furthermore, using thermocol packaging allows food makers to limit product weight. This type of packaging solution can be customized as per client needs which leads to higher demand in the commercial market. In addition to this, growing emphasis on the use of sustainable packaging could lead to more industry players adopting thermocol packaging.

Although EPS foam is not biodegradable, it can be recycled. However, the process of using recycled products can be cost-intensive which has led to multiple startups working toward reducing the associated costs. If these companies are successful in lowering the recycling cost of thermocol, the thermocol packaging market has tremendous growth potential. Furthermore, increasing the use of thermocol packaging in one of the rapidly growing sectors which is the construction industry could lead to more revenue during the forecast period.

The global thermocol packaging market also faces growth restrictions. One of the leading limitations is the dynamic nature of the surrounding government regulation due to the associated environmental impact of using thermocol packaging. For instance, there are several countries that have currently banned the use of thermocol in certain applications such as packaging and the food sector. Furthermore, the increasing availability and marketing of substitutes that provide the same result as thermocol packaging but are also more environmentally friendly could lead to a loss of revenue. Other factors such as lack of awareness along with fluctuating prices of raw materials act as added restraints.

The growing innovation could provide growth opportunities while the strict environmental guidelines may challenge market growth.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/thermocol-packaging-market

Report Scope

Report Attribute Details
Market Size in 2022 USD 14.98 billion
Projected Market Size in 2030 USD 24.03 billion
CAGR Growth Rate 6.09% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players BASF SE, Sealed Air Corporation, Sonoco Products Company, Synthos S.A., Styropack, Drew Foam Companies, Inc., Ineos Styrolution Group GmbH, Kaneka Corporation, Alpek SAB de CV, Nova Chemicals Corporation, Total SA, Styron LLC, S C Johnson & Son Inc., Flint Hills Resources LLC, Sunpor Kunststoff GmbH, Styrochem, Samsung Fine Chemicals Co. Ltd., LG Chem Ltd., ACH Foam Technologies LLC, Pregis Corporation, Armacell International S.A., Foam Supplies Inc., Jablite, Polystyrene Industries Ltd., and Styromet GmbH & Co. KG.
Key Segment By Industry, By Type, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Thermocol Packaging Market: Segmentation Analysis

The global thermocol packaging market is segmented based on industry, type, and region.

Based on industry, the global market segments are marine industry, agriculture industry, construction industry, pharmaceutical industry, electronics industry, and others. In 2022, the industry witnessed the highest growth in the electronics sector followed by the pharmaceutical industry. The electronic items being delivered to customers need to be stored and transported in a secure environment. They have to be handled with care. With the growing revenue in the electronics industry especially due to the surging sales from e-commerce portals, the demand for thermocol packaging in this sector is higher. On the other hand, the pharmaceutical industry uses thermocol packaging to transport and store temperature-sensitive drugs and other medical supplies. A report by the Ellen MacArthur Foundation claims that almost 165 billion packages are shipped each year globally.

Based on type, the global market segments are thermocol blocks, thermocol sheets, and others. The thermocol packaging industry witnessed the highest growth in the thermocol blocks segment. They are used in packaging and cushioning heavy or fragile products, particularly in the electronics, automotive, and industrial sectors. Thermocol sheets are used for several applications such as insulation, construction, and packaging. This type of packaging is lightweight. They also have good thermal insulation properties and hence are a preferred choice in the construction industry for insulation and as a building material. Additionally, they are also used as protective packaging material to cushion and protect construction products during shipping. In New York City alone, more than 14 million tons of waste is generated every year.

The global Thermocol Packaging market is segmented as follows:

By Industry

By Type

  • Thermocol Blocks
  • Thermocol Sheets
  • Others

Browse the full “Thermocol Packaging Market By Industry (Marine Industry, Agriculture Industry, Construction Industry, Pharmaceutical Industry, Electronics Industry, And Others), By Type (Thermocol Blocks, Thermocol Sheets, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” – Report at https://www.zionmarketresearch.com/report/thermocol-packaging-market

Competitive Landscape

Some of the main competitors dominating the global Thermocol Packaging market include – 

  • BASF SE
  • Sealed Air Corporation
  • Sonoco Products Company
  • Synthos S.A.
  • Styropack
  • Drew Foam Companies Inc.
  • Ineos Styrolution Group GmbH
  • Kaneka Corporation
  • Alpek SAB de CV
  • Nova Chemicals Corporation
  • Total SA
  • Styron LLC
  • S C Johnson & Son Inc.
  • Flint Hills Resources LLC
  • Sunpor Kunststoff GmbH
  • Styrochem
  • Samsung Fine Chemicals Co. Ltd.
  • LG Chem Ltd.
  • ACH Foam Technologies LLC
  • Pregis Corporation
  • Armacell International S.A.
  • Foam Supplies Inc.
  • Jablite
  • Polystyrene Industries Ltd.
  • Styromet GmbH & Co. KG.

 Key Insights from Primary Research:

  • According to the analysis shared by our research forecaster, the Thermocol Packaging market is likely to expand at a CAGR of around 6.09% during the forecast period (2023-2030).                  
  • In terms of revenue, the Thermocol Packaging market size was valued at around US$ 14.98 billion in 2022 and is projected to reach US$ 24.03 billion by 2030.
  • The thermocol packaging market is projected to grow at a significant rate due to the growing use in the e-commerce industry.
  • Based on industry segmentation, the electronics industry was predicted to show maximum market share in the year 2022.
  • Based on type segmentation, thermocol blocks were the leading type in 2022.
  • On the basis of region, Asia-Pacific was the leading revenue generator in 2022.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/thermocol-packaging-market

Key questions answered in this report:

  • What is the market size and growth rate forecast for Thermocol Packaging industry?
  • What are the main driving factors propelling the Thermocol Packaging Market forward?
  • What are the leading companies in the Thermocol Packaging Industry?
  • What segments does the Thermocol Packaging Market cover?
  • How can I receive a free copy of the Thermocol Packaging Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2023−2030
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Industry, By Type, and By Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/7243

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

The global thermocol packaging market is expected to witness the highest growth in Asia-Pacific with China and India acting as the largest contributors. The main reason for higher regional growth is the growing population of the country which directly translated to higher consumption in the end-user verticals such as pharmaceuticals and food & beverage. In April 2023, India’s population reached more than 1.4 billion. Furthermore, China is the second largest most populated country in the world. Both these regions along with neighboring countries are witnessing high demand in the food sector leading to more consumption of thermocol packaging. Furthermore, the rapidly growing regional e-commerce industry along with the electronics sector is yet another crucial contributor to regional expansion. In North America, the growth is mainly due to the high use of thermocol packaging in the construction sector.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Recent Developments

  • In October 2021, Godrej Interio, in association with its ‘Greener India’ announced that it will use honeycomb boards for protective packaging and replace close to 100 tons of thermocol that the company used in packaging solutions
  • In February 2022, Jharkhand Pollution Control Board announced the ban on using plastic and thermocol-based items starting 1st July 2022 in the state of Jharkhand, India

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/thermocol-packaging-market

FREQUENTLY ASKED QUESTIONS

  • What is thermocol packaging?
  • Which key factors will influence thermocol packaging market growth over 2023-2030?
  • What will be the value of the thermocol packaging market during 2023-2030?
  • What will be the CAGR value of the thermocol packaging market during 2023-2030?
  • Which region will contribute notably towards the thermocol packaging market value?
  • Which are the major players leveraging the thermocol packaging market growth?

Browse Other Related Research Reports from Zion Market Research:

Online Poker Market By Device Type (Mobile And Desktop), By End-User (Gambling Enthusiasts, Dabblers, And Social Exuberant) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/online-poker-market

U.S. Registered Nurses Market By End-User (Ambulatory Healthcare Services, Hospitals, Nursing Homes, And Others), By Gender (Male And Female), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/us-registered-nurses-market

U.S. Education Market – By Type (Cloud And On-Premise); By Content (Audio-Based Content, Video-Based Content, And Text: https://www.zionmarketresearch.com/report/us-education-market

HVAC Equipment Market By End-Use (Commercial, Residential, And Industrial), By Product (Ventilation, Heating, And Cooling), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/hvac-equipment-market

U.S. Integrated Delivery Network Market By Services Type (Long Term Health And Acute Care / Hospital Service), By Integration Model (Vertical And Horizontal), And By Region – Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/us-integrated-delivery-network-market

Cosmetic Packaging Market by Material Type (Plastic, Glass, Paper and Others), by Container Type (Jars, Bottles, Tubes, Sachets and Others) for Hair Care, Nail Care, Skin Care, Makeup and Other Applications: China Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022: https://www.zionmarketresearch.com/report/cosmetic-packaging-market

Medical Device Packaging Market by Packaging Type (Bags & Pouches, Trays, and Boxes), by Material (Polymer, Non-woven Fabric, and Paper & Paperboard), and by Application (Disposable Consumables, Monitoring & Diagnostic Equipment, and Therapeutic Equipment): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024: https://www.zionmarketresearch.com/report/medical-device-packaging-market

Lubricant Packaging Market – by Material Type (Metal {Aluminum, Tin, and Steel} and Plastic {Polyethylene (PE), Polyethylene terephthalate (PET), Polyvinyl chloride (PVC), Polypropylene (PP), and Others}), by Lubricant (Engine Oils, Transmission & Hydraulic Fluids, Lubricant Oils, Metalworking Fluids, General Industrial Oils, and Others), by Packaging (Kegs & Drums, Cans & Bottles, Intermediate Bulk Packaging (IBC), Pails, and Others), and by End-User (Automobile, Metal Fabrication, Oil & Gas, Power Generation, Chemical Industry, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019—2025: https://www.zionmarketresearch.com/report/lubricant-packaging-market

Industrial Packaging Market by Product Type (Containers, Drums, Sacks, Pails, and Crates), by Material Type (Metal, Paperboard, Wood, and Plastic), and by End-User (Automotive, Food & Beverages, Plastics & Rubber, Building & Construction, Chemical, Pharmaceuticals, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025: https://www.zionmarketresearch.com/report/industrial-packaging-market

Hazmat Packaging Market by Material (Metal, Corrugated Paper, and Plastic), by Product (Drums & Pails, IBCs, Cartons, Boxes, Cans, Flexi Tanks, Bottles, and Others), and by End-User (Chemical & Petrochemicals, Paints & Dyes, Oil & Gas, Industrial Chemicals, Freight & Logistics, Automotive, Lubricants & Oils, Pharmaceuticals, Agriculture & Horticulture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025: https://www.zionmarketresearch.com/report/hazmat-packaging-market

Egg Packaging Market By Material (Paper and Plastic) and By Product (Cartons and Trays): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025: https://www.zionmarketresearch.com/report/egg-packaging-market

Packaging Equipment Market: By Product (Filler, FFS or Form Fill Seal, Capping, Labeling, Palletizing, and Coding) and By Application (Food & Beverage, Personal Care, Pharmaceuticals, and Chemical): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026: https://www.zionmarketresearch.com/report/packaging-equipment-market

First Aid Kit Packaging Market – By Product Type (Mounted and Portable), By Type (Bags, Boxes, Backpack, and Cabinet), By End-Users (Automotive, Military, Sports, Residential Purposes, Industrial, and Offices), By Material Type (Glass, Plastic, Fabric, and Metal), and By Region – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026: https://www.zionmarketresearch.com/report/first-aid-kit-packaging-market

Pharmaceutical Packaging Equipment Market – by Product Type (Semi-Solids Packaging Equipment, Solids Packaging Equipment, Liquids Packaging Equipment), by Packaging Type (Primary, Secondary Packaging Equipment), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast 2019 – 2026: https://www.zionmarketresearch.com/report/pharmaceutical-packaging-equipment-market

Mobile Phones Packaging Market – By Packaging Type (Folding Cartons, Flexible Films, Rigid Boxes, Thermoformed Blisters, and Bubble Wraps), By Material (Plastic, Paperboard, and Molded Fibers), By Application (Refurbished Phones, Smartphones, and Feature Phones), And By Region – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026: https://www.zionmarketresearch.com/report/mobile-phones-packaging-market

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/

Follow Us on Twitter: https://twitter.com/zion_research

Follow Us on Facebook: https://www.facebook.com/zionmarketresearch

Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/

Follow Us on YouTube: https://youtu.be/Y0Yfi7N8zSs

Contact Us:

Rushikesh Dorge

USA: +1 347 690-0211

United Kingdom: +44 2032 894158

Japan: +81 50 5806 9039

India: +91 7768 006 007

Web: https://www.zionmarketresearch.com/

Blog: https://zmrblog.com/

Blog: https://techratoon.com/

Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media

Email Directly Here with Detail Information: [email protected]

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.