Expanded Polystyrene Market Size, Share, Industry Trends, Growth Insights and Market Forecast 2023 - 2030

Expanded Polystyrene (EPS) Market is Segmented by Product Type (White, Grey, Black), by End-user (Building & Construction, Packaging, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2023-2030

Expanded Polystyrene (EPS) Market Overview

Report on Global Expanded Polystyrene analyses the market size, recent trends, competitive intelligence and future market outlook. The market is estimated to grow at a CAGR of 4.94% till 2029. Packaging and construction industry usage is on the rise among the Expanded Polystyrene. Demand from construction industry in Asia-Pacific is booming.

It is made from expandable polystyrene. It is majorly used in the packaging and construction industries. However, the applications of EPS will vary in the various regions.

Expanded Polystyrene (EPS) Market Scope and Summary

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Expanded Polystyrene Market Scope and Summary

• Growing applications of EPS in the packaging and construction industry is the primary driver of the market. EPS is widely used in packaging applications.

• It is the best packaging material for various products such as electronic components, electrical consumer goods, toys to horticultural or garden products. Also, it gives complete protection to industrial products, and it is the best suitable material for automated production lines.

• Increasing food packaging trends in the world will also drive the market for EPS shortly. EPS is mostly preferred in the packaging of foods such as fish, shellfish, meat, fruits, and ice cream. Further, new applications for molded EPS are a significant opportunity in the market.

• EPS can be molded into any shape and allows it to be used for a wide variety of applications such as chairs, book covers, air conditioning units, frog houses, infant car seats, and many more.

• Growing environmental regulations in North American and European countries are hindering the EPS market growth. EPS is banned in some major US cities, including Washington, DC, Minneapolis, San Francisco, Oakland, Portland, Albany, and Seattle.

• It was banned in Muntinlupa in the state of Manila in the Philippines in 2010, in Toronto Canada in 2007, in Paris in 2007, and in Corsica in France in 1997. EPS takeaway containers and tableware were banned in China from 1999 to 2013.

Expanded Polystyrene Market Segmentation Analysis

• The global expanded polystyrene market is segmented on product type and end-user. Further, the market is classified based on end-user into packaging, construction, and others.

• Growing residential and commercial construction in the world especially in emerging economies are propelling the growth of the EPS market.

• EPS is used in many aspects of building work including large structures such as roads, bridges, railway lines, public buildings, or even small family residences. EPS is widely utilized in the construction industry owing to its properties such as low thermal conductivity, low weight, excellent mechanical resistance, low water absorption, chemical resistance, and aging resistance.

• The packaging industry is also one of the primary end-user of the market. The growing packaging industry in Asia-Pacific, especially in countries such as China, India, and Southeast Asia, is driving the EPS market. Asia-Pacific is leading the global packaging market with approximately 42% of the total demand followed by Europe and North America with 26% and 22% respectively.

Global Expanded Polystyrene Market Geographical Share

• The report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and the rest of the world.

• Asia-Pacific is expected to be the fastest-growing region owing to the rapid growth in the construction industry and the strong demand for packaging, especially in areas like India, China, and Southeast Asia. China will continue to forge ahead with strong, robust growth in packaging applications, and with strong growth expected for EPS over the next few years.

• The high capital investments by the key players in the region are also fuelling the growth of the market in the country.

• North America and Europe are also expected to witness substantial growth primarily due to the increasing demand for the packaging industry, especially in the packaged food sector.

Expanded Polystyrene Market Key Manufacturers

• The global expanded polystyrene market is fragmented with many local and international manufacturers. Most companies in the world are showing interest in increasing their production capacity of EPS.

• The report includes various companies such as BASF SE, Lanxess AG, SABIC, Formosa Plastic Group, Alpek, Kaneka Corporation, Nexkemia Petro-chemicals, Sunde Group, Synthos SA, and Jiangsu Nijiaxiang Chemical Co., Ltd.

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