June 22, 2024

Expanded polystyrene Market Size To Rise USD 25.67 Billion By 2032

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. 

Expanded Polystyrene Market Size 2023 To 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.

Get a Sample: https://www.precedenceresearch.com/sample/3562

Growth Factors:

  1. 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.
  2. 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.
  3. 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.
  4. 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

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/


Leave a Reply

Your email address will not be published. Required fields are marked *