Expanded Polystyrene Market Size is valued at USD 11.1 billion in 2023 and is predicted to reach USD 18.6 billion by the year 2031 at a 6.9% CAGR during the forecast period for 2024-2031.
Expanded polystyrene (EPS) is produced using polystyrene beads. Hence, the adoption of Expanded Polystyrene (EPS) is expected to increase in the near future as concerns grow over to save the environment. The growing adoption of polystyrene materials owing to their thermal insulation, moisture resistance, good shock absorption, and easy disposal is a factor expected to drive growth in the global expanded polystyrene (EPS) market. The rising number of food marketing industries coupled with increasing demand for packaged food applications in various industries are some of the other factors likely to augment the target market growth. The rising impact of social factors, such as enhancing health & well-being, promoting sustainable business practices, and fostering a sense of community globally, are expected to boost the market expansion in the coming years.
Nevertheless, the increasing need for packaged and processed foods, together with the surge in internet purchasing due to travel restrictions as well as social distancing measures enforced by the government in reaction to the COVID-19 pandemic, could potentially hinder the growth of the target market in the projected timeframe. Moreover, the forecast period is expected to bring about profitable growth opportunities in terms of revenue for companies in the global Expanded Polystyrene (EPS) market. This can be attributed to the rise in research and development activities, government initiatives to promote the use of sustainable things in production, and investments made by key industry players.
The Expanded Polystyrene (EPS) market is segmented on the basis of end-user industry and type. Based on the end-user industry segment, the market is segmented as packaging, electrical and electronics, building and construction, medical, and others. By type, the market is segmented into white and grey/black.
The building & construction category is expected to hold a major share in the global Expanded Polystyrene (EPS) market in 2023. This is attributed to the growing usage of EPS due to its properties such as low weight, great thermal insulation, chemical intrenes, resistance to pets and bacteria, and environmental-friendly. Additionally, EPS is also demanded for the storage and transportation of products such as wines, consumer goods, chemicals, and medical supplies owing to its shock-absorption property.
The white segment is projected to grow at a rapid rate in the global Expanded Polystyrene (EPS) market owing to growing usage in packaging, such as food packaging of food trays, consumer goods packaging, drink cups & clamshell containers, and electronic products packaging. Hence, with the growing concern for the environment, there is an increase in demand for Expanded Polystyrene (EPS) in the white segment
The Asia Pacific Expanded Polystyrene (EPS) market is expected to register the most elevated market revenue share in the near future. This can be attributed to the intense concentration on the environment in the region, with the rising adoption of Expanded Polystyrene (EPS) in different industries, including food & beverages, hospitals, commercial buildings, and packaging. In addition, the region's polystyrene industry is focusing on the production of expanded polystyrene (EPS) to develop sustainable and environmentally friendly solutions. In addition, Europe is predicted to grow rapidly in the global Expanded Polystyrene (EPS) market due to growing concerns about the environment, automotive, packaging, building and construction, rapid industrialization, government initiatives, and increasing funding in various industries.
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 11.1 Bn |
|
Revenue Forecast In 2031 |
USD 18.6 Bn |
|
Growth Rate CAGR |
CAGR of 6.9% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn, Volume (Kiloton) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, End-User Industry |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
BASF SE, Alpek S.A.B. de C.V., Kaneka Corporation, BEWI, SUNPOR, Synthos, TotalEnergies, NOVA Chemicals Corporate, Unipol Holland BV and Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Expanded Polystyrene (EPS) Market Snapshot
Chapter 4. Global Expanded Polystyrene (EPS) Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Volume (Kiloton) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:
5.2.1. White
5.2.2. Grey/ Black
Chapter 6. Market Segmentation 2: by End-users Estimates & Trend Analysis
6.1. by End-users & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Volume (Kiloton) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-users:
6.2.1. Packaging
6.2.2. Electrical and Electronics
6.2.3. Building and Construction
6.2.4. Medical
6.2.5. Others
Chapter 7. Expanded Polystyrene (EPS) Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by Type, 2023-2031
7.1.2. North America Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by End-users, 2023-2031
7.1.3. North America Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by country, 2023-2031
7.2. Europe
7.2.1. Europe Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by Type, 2023-2031
7.2.2. Europe Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by End-users, 2023-2031
7.2.3. Europe Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by country, 2023-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by Type, 2023-2031
7.3.2. Asia Pacific Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by End-users, 2023-2031
7.3.3. Asia Pacific Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by country, 2023-2031
7.4. Latin America
7.4.1. Latin America Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by Type, 2023-2031
7.4.2. Latin America Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by End-users, 2023-2031
7.4.3. Latin America Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by country, 2023-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by Type, 2023-2031
7.5.2. Middle East & Africa Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by End-users, 2023-2031
7.5.3. Middle East & Africa Expanded Polystyrene (EPS) Market Revenue (US$ Million) & Volume (Kiloton) Estimates and Forecasts by country, 2023-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1 Alpek, S.A.B. de C.V.
8.2.2 Kaneka Corporation
8.2.3 SUNPOR Kunststoff GmbH
8.2.4 Synthos S.A.
8.2.5 TotalEnergies SE
8.2.6 NOVA Chemicals Corporation
8.2.7 Wuxi Xingda Foam Plastic Co., Ltd.
8.2.8 BASF SE
8.2.9 The Ravago Group
8.2.10 Versalis S.p.A.
8.2.11 Flint Hills Resources, LLC
8.2.12 PJSC SIBUR Holding
8.2.13 Saudi Basic Industries Corporation (SABIC)
8.2.14 Atlas Roofing Corporation
8.2.15 BEWiSynbra Group AB
8.2.16 Brødr. Sunde A/S
8.2.17 Nexkemia Petrochemicals Inc.
8.2.18 Unipol Holland B.V.
8.2.19 Other Market Players
Expanded Polystyrene (EPS) Market By End-User Industry-
Expanded Polystyrene (EPS) Market By Type-
Expanded Polystyrene (EPS) Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
