London, UK -- (SBWIRE) -- 03/03/2015 -- Styrofoam is a trademark name for close cell extruded foam of polystyrene. It is currently one of the best thermal insulators in the global insulation market offered by leading plastic manufacturers such as The Dow Chemical Company. However, the product Styrofoam falls under the category of expanded polystyrene material in the U.S. and Canada. These expanded polystyrene are moderately soluble in a number of organic solvents, propellants, cyanoacrylate and paint solvents. Styrofoams also find applications for crafts and is popularly known as thermacol, trademarked by BASF SE.

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Ever-growing demand from construction industry coupled with the demand from electronic packaging industry is fueling the growth of global Styrofoam market. However, development of other eco-friendly substitute materials such as cellulose is likely to hold back the global Styrofoam market for some areas, especially Europe.

Styrofoam finds its applications in insulation manufacturing, packaging, crafts and building-construction products. Industrial production of Styrofoam products are carried based on their various characteristics and flexibility. Currently, building and construction consumes maximum Styrofoam due to high demand from Asia Pacific construction industry. Additionally, Western Europe followed by North America is poised to show tremendous growth as allied industries are expected to stabilize in these regions. Countries such as Brazil and Russia have planned to host the Summer Olympics 2016 and Winter Olympics 2014 respectively, which in turn, will supplement the Styrofoam market in the near future.

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Adeplast S.A., Armacell LLC, Carpenter Co., BASF SE, Kaneka Corporation, IneosStyrenics, Nova Chemicals Company, The Dow Chemical Company and Owens Corning are some of the key market participants of the global styrofoam market.

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