Expanded Polystyrene (EPS) Market Size, Share, and Industry Analysis, By Type (White, Grey, Black), By Application (Building & Construction, Packaging, and Others), and Regional Forecast, 2024-2032

The global expanded polystyrene (EPS) market size is expected to witness significant growth during the forecast period. The global EPS market is attributed to the continued growth in the building & construction industry, consuming the largest share of EPS compared to packaging and other sectors. Expanded polystyrene or PS-E or EPS is the polymer material produced in the form of granules. It contains flammable Pentane (C2H5), the key factor responsible for its expansion characteristic. Expanded polystyrene comprises 90-95% polystyrene and 5-10% carbon dioxide or pentane. EPS offers some remarkable characteristics such as high strength, lightweight, soundproofing, and flexibility, making it suitable for building & construction, and shipping applications. Moreover, EPS offers few properties required in cold chain packaging material.

Expanded polystyrene is a green plastic composed of organic elements, including oxygen, carbon, and hydrogen. Expanded polystyrene doesn’t have the HCFC and CFC and can be recycled. Additionally, EPA provides effective characteristics such as constant thermal resistance, chemical internees, no growth of the bacteria, dimensional stability, and long-term resistance value agents in the heat flow. All the mentioned factors and the green nature of the EPS are expected to drive the market in the forecasted time frame.            

Expanded polystyrene, or styrofoam, poses an environmental risk as it is petroleum-based, a non-biodegradable product that can be in the environment as a piece of toxic trash. EPS can impact wildlife, human life, and aquatic life. Moreover, the EPS may be breakdown by continuous exposure to sunlight which turns it into a powdery substance. Because of the reaction, the end-use products can be deformed. Therefore, all these factors are anticipated to hinder the expanded polystyrene market growth.                                               

IMPACT OF COVID-19 ON THE EXPANDED POLYSTYRENE MARKET

The outbreak of COVID-19 impacted the global supply-demand chain. Many countries, such as China, India, and the U.S., imposed restrictions on business operations and the mobility of humans. Additionally, logistics services were halted entirely, deeply impacting the supply-demand scenario and resulting in a complete interruption in the globally expanded polystyrene market. COVID-19 had a massive impact on the building and construction business as raw materials and labor were unavailable. All these factors are anticipated to hinder expanded polystyrene industry growth.

Despite the uncertainties, the market has been moderately profitable as the logistics for essential consumer goods were operational, which surged the demand for packaging material.

Key Insights

The report will cover the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisitions, Partnerships, and Others


• Latest Technological Advancement


• Insights on Sustainability


• Porters Five Forces Analysis


• Impact of COVID-19 on the Market

Analysis by Application

Based on type, the expanded polystyrene market can be segmented into building & construction, packaging, and others. Due to its durability and high impulse absorption, expanded styrene is widely used in packaging applications such as continuous sheets, food service, clamshell containers, and others. Moreover, expanded polystyrene can be molded into various shapes; therefore, it is widely used in industrial packaging for electrical consumer goods, electronic components, and medical equipment. Thus, the packaging segment is expected to drive the EPS industry during the forecast timeframe.

Regional Expanded Polystyrene Market Analysis

Increasing Demand for EPS in the Building and Construction Industry to Drive Market Growth in Asia Pacific

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Expanded Polystyrene Market demand in the asia pacific is associated with the rapid increase in the building and construction sector. Asian countries such as India and China are the fastest-growing economies. They have the world's highest population, putting pressure on industries and infrastructure to fulfill consumer needs. The EPS is widely used as a construction material which leads the product demand.

The growth of the EPS market in North America is associated with the increased demand from the e-commerce sector. Consumers are showing interest in online shopping, which surges the demand for packaging material. EPS is suitable for commercial and industrial packaging. Thus the demand for these EPS is lucrative in the region.

The growing demand for EPS in Europe is associated with the rapid growth of the personal care & cosmetics industry. These product manufacturers pressure the packaging industry to offer packaging solutions that surge the EPS demand. Additionally, European countries such as the U.K. have initiated packaging solutions providers to use green chemicals for manufacturing. At the same time, Latin America and the Middle East are expected to grow moderately.

Key Players Covered

• Wuxi Xingda


• Synthos


• BASF


• SUNPOR KUNSTSTOFF GmbH


• Ravago S.A.


• Alpek


• Nova Chemicals


• VERSALIS


• Flint Hills Resources LLC


• PJSC Sibur Holdings LLC


• Others

Segmentation

Key Industry Developments

• March 2022: BASF recently expanded its product portfolio and launched a new product called Nepor Mcycled. The product is mechanically recycled for the building insulation.


• August 2021: SUNPOR KUNSTSTOFF GmbH announced to increase in production for the EPS beads by 30,000 tons per year.