The expanded polystyrene market size is poised to grow by $ 25.67 billion by 2032 from $ 12.12 Billion in 2023, exhibiting a CAGR of 8.70% during the forecast period 2023-2032.
Key Takeaways
- Asia Pacific contributed more than 41% of revenue share in 2022.
- North America is estimated to expand the fastest CAGR between 2023 and 2032.
- By product, the white segment has held the largest market share of 68% in 2022.
- By product, the grey segment is anticipated to grow at a remarkable CAGR of 9.2% between 2023 and 2032.
- By application, the construction segment generated over 34% of revenue share in 2022.
- By application, the packaging segment is expected to expand at the fastest CAGR over the projected period.
The Expanded Polystyrene (EPS) market has witnessed significant growth in recent years, driven by its diverse applications and sustainable characteristics. EPS, a lightweight and rigid cellular plastic, is widely utilized in packaging, construction, and insulation industries. The market’s expansion is attributed to the material’s excellent insulation properties, durability, and versatility.
One of the key drivers behind the growth of the Expanded Polystyrene market is its widespread use in the packaging sector. The demand for lightweight and protective packaging solutions has surged across various industries, including electronics, food and beverage, and pharmaceuticals. EPS’s ability to provide a cushioning effect, ensuring the safe transportation of fragile goods, has made it a preferred choice in the packaging industry.
In the construction sector, EPS has gained prominence as a cost-effective and energy-efficient material. The material’s lightweight nature contributes to ease of handling during construction, reducing labor costs. Additionally, EPS’s insulation properties play a crucial role in enhancing energy efficiency in buildings, driving its adoption in the construction of residential and commercial structures.
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Growth Factors:
- Rising Construction Activities: The global construction industry’s boom, especially in emerging economies, has significantly fueled the demand for EPS. As urbanization and infrastructure development continue, EPS is increasingly being used in various construction applications, including roofing, walls, and foundations.
- Focus on Sustainable Building Practices: With a growing emphasis on sustainable and energy-efficient construction practices, EPS has emerged as a preferred choice. Its ability to contribute to thermal insulation and reduce energy consumption aligns with the global push towards green building materials.
- Innovations in Packaging Solutions: Ongoing innovations in packaging designs and the need for eco-friendly materials have spurred the adoption of EPS in the packaging industry. As companies seek sustainable alternatives, EPS stands out for its recyclability and minimal environmental impact.
- Technological Advancements: Continuous research and development efforts in the EPS manufacturing process have led to improvements in product performance and cost-effectiveness. Technological advancements play a crucial role in expanding the applications of EPS, further boosting market growth.
Expanded Polystyrene Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 8.70% |
| Market Size in 2023 | USD 12.12 Billion |
| Market Size by 2032 | USD 25.67 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Product and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: Ethylene Vinyl Acetate Market Size To Worth USD 19.25 Billion By 2032
Product Segmentation:
The EPS market boasts a variety of product segments, each tailored to meet specific industry needs. One prominent category is molded expanded polystyrene (MEPS), recognized for its versatility and cost-effectiveness. MEPS finds extensive use in packaging applications, providing lightweight and durable solutions for the protection of fragile goods during transit.
Extruded expanded polystyrene (XEPS) stands as another notable segment within the market. Recognized for its superior insulation properties, XEPS is commonly employed in construction applications. As an excellent thermal insulator, XEPS is a preferred choice for insulation boards, roofing materials, and even geotechnical applications, contributing significantly to the energy efficiency of buildings.
Application Segmentation:
The applications of Expanded Polystyrene extend across various industries, reflecting its adaptability and functional qualities. In the construction sector, EPS is a key player in providing insulation solutions. EPS sheets and boards are utilized for thermal insulation, effectively regulating temperature and reducing energy consumption in buildings.
Packaging emerges as another pivotal application segment. The lightweight nature of EPS makes it an ideal material for protective packaging in industries such as electronics and fragile goods transportation. The shock-absorbing properties of EPS ensure that delicate items reach their destination intact, minimizing the risk of damage during transit.
Additionally, the automotive industry incorporates EPS in various components for its lightweight yet sturdy characteristics. From impact-absorbing elements to insulating materials, EPS contributes to both safety and efficiency in automotive applications.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Expanded Polystyrene Market Players
- BASF SE
- Kaneka Corporation
- Synthos S.A.
- TotalEnergies
- SABIC
- SUNPOR Kunststoff GmbH
- Flint Hills Resources
- PJSC SIBUR Holding
- Nova Chemicals Corporation
- Alpek S.A.B. de C.V.
- Saudi Basic Industries Corporation (SABIC)
- ACH Foam Technologies
- StyroChem
- BEWiSynbra Group AB
- Brødrene Hartmann A/S
Segments Covered in the Report
By Product
- White
- Grey
By Application
- Construction
- Packaging
- Automotive
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Expanded Polystyrene Market
5.1. COVID-19 Landscape: Expanded Polystyrene Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Expanded Polystyrene Market, By Product
8.1. Expanded Polystyrene Market Revenue and Volume, by Product, 2023-2032
8.1.1. White
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Grey
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Expanded Polystyrene Market, By Application
9.1. Expanded Polystyrene Market Revenue and Volume, by Application, 2023-2032
9.1.1. Construction
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Packaging
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Automotive
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Others
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Expanded Polystyrene Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. BASF SE
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Kaneka Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Synthos S.A.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. TotalEnergies
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. SABIC
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. SUNPOR Kunststoff GmbH
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Flint Hills Resources
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. PJSC SIBUR Holding
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Nova Chemicals Corporation
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Alpek S.A.B. de C.V.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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