Global Expanded Polystyrene Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Expanded Polystyrene Market Overview

“The global Expanded Polystyrene market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global expanded polystyrene market report has been segmented on the basis of product type, end-use industry, and region.

Expanded polystyrene (EPS) is a rigid and tough cellular plastic, found in a multitude of shapes and is used for various applications such as fish boxes, packaging for electrical consumer goods, and for insulation panels for buildings. It is lightweight, strong, recyclable, and non-toxic, with good thermal resistance and high impact resistance. It is commonly used as insulation for walls, foundations, and roofing, which provides sustainability, chemical inertness, and energy efficiency.

Global Expanded Polystyrene Market Dynamics:

The growing construction and infrastructure industry in developing countries is a key factor expected to drive the growth of the global expanded polystyrene market over the forecast period. The rising demand for convenience food and protective food packaging in developing economies is another factor anticipated to propel the growth of the target market over the forecast period.

In addition, the growing demand for thermal insulation to reduce energy consumption is a dynamic factor expected to fuel the growth of the target market over the forecast period. Moreover, increasing demand for lightweight polymers in the automotive industry, which in turn increases demand for expanded polystyrene, is expected to further support the growth of the target market over the forecast period.

However, fluctuation in crude oil prices is a major factor expected to restrain revenue growth of the expanded polystyrene market over the forecast period. In addition, the availability of high-performance substitutes, is another factor expected to hinder the growth of the target market during the forecast period.

Recycling of expanded polystyrene products is anticipated to create a lucrative opportunity for driving growth of the global expanded polystyrene market over the forecast period.

Analysis by Segment:

On the basis of product type, the white EPS segment is accounted for a significant share in the global expanded polystyrene market. The growth of the segment is attributed to the thermal resistance of the product.

On the basis of the end-use industry, the building & construction segment is expected to register a significant growth rate over the next coming years. Expanded polystyrene in building & construction is used for its physical and mechanical properties, making it an excellent designing element for green building.

Analysis by Region:

The market in the Asia Pacific accounted for a major revenue share contribution in the global expanded polystyrene market and is expected to maintain its dominance over the forecast period.  The growth of the expanded polystyrene market in the region is attributed to rapid industrialization coupled with growing packaging and infrastructural sectors.

Increasing production of automobiles in countries such as China, India, South Korea, and Indonesia in the region is expected to support revenue growth of the Asia Pacific expanded polystyrene market. North America expanded polystyrene market is expected to register a significant growth rate to the global expanded polystyrene market over the forecast period, followed by markets in Europe, Middle East & Africa, and Latin America respectively.

Global Expanded Polystyrene Market Segmentation:

Segmentation on The Basis of Product Type:

• White EPS
• Grey EPS
• Black EPS

Segmentation on The Basis of End-use Industry:

• Building & Construction
• Packaging
• Others (Automotive, Medical, Marine, and Sports & Leisure)

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa