
BEIJING, Oct. 09, 2022 (GLOBE NEWSWIRE) — The Global Expanded Polystyrene Market The size was valued at USD 18,194 Million in 2021 and is estimated to reach a market size of USD 27,592 Million in 2030 growing at a CAGR of 4.9% from 2022 to 2030.
Expanded Polystyrene Market Statistics
- The global expanded polystyrene market value was $18,194 Million in 2021 and is expected to grow at a CAGR of 4.9% from 2022 to 2030
- North America expanded polystyrene market revenue will gather more than 44% market share in the coming years
- Asia-Pacific expanded polystyrene market growth will record significant CAGR during the forecast period from 2022 to 2030
- Among product types, the white segment accounted for more than 40% of the total market share in 2021
- On the basis of end-use industry, the building and construction sector accounts for more than 48% of the total market share.
Expanded Factors of Polystyrene Market Growth
- Increasing demand for thermal insulation
- Increasingly used in the construction industry
- Growing demand for food and beverage packaging
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Expanded Polystyrene Market Report Coverage:
market | Expanded Polystyrene Market | |
Expanded Polystyrene Market Size 2021 | USD 18,194 Million | |
Expanded Polystyrene Market Prediction 2030 | USD 27,592 Million | |
Expanded Polystyrene Market CAGR Period 2022 – 2030 | 4.9% | |
Expanded Polystyrene Market Analysis Time | 2018 – 2030 | |
Expanded Polystyrene Market Base Year | 2021 | |
Expanded Polystyrene Market Forecasting Data | 2022 – 2030 | |
Segments covered | By Product Type, By End-Use Industry, And By Geography | |
Expanded Polystyrene Market Belong to the Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
Key Companies Profiled | BASF SE, Kaneka Corporation, Total SE, NOVA Chemicals Corporation, Ravago, and Saudi Basic Industries Corporation. | |
Report Coverage | Market Trends, Drivers, Restraints, Competition Analysis, Player Profiling, Regulatory Analysis |
Expanded Polystyrene (EPS) Market Dynamics
EPS is used in a wide range of building and construction applications, including wall insulation and floor insulation. It also offers excellent design flexibility and structural stability. As a result, the global expanded polystyrene (EPS) market is benefiting from the growth in the construction and building industries. Additionally, increased supply for thermally efficient buildings has boosted the market growth.
Expanded polystyrene (EPS) is a common cold chain packaging material used in the pharmaceutical industry because it ensures product safety. As a result, the expanded polystyrene (EPS) market is further stimulated by the growth of the pharmaceutical industry. Additionally, the automotive industry is increasing its use of lightweight polymer foam, which is driving market expansion. Additionally, infrastructure applications in the defense industry are boosting the market for expanded polystyrene.
Expanded Polystyrene (EPS) Market Restraint
Fluctuations in crude oil prices hinder the growth of the Global Expanded Polystyrene (EPS) Market
Despite the fact that the price of crude oil has little impact on the final price of EPS, any future volatility (increase) in the price of EPS may have an impact on the profitability of styrene producers. Styrene producers such as The Dow Chemical Company (US), Royal Dutch Shell (Netherlands), and LyondellBasell Industries NV (Netherlands) are increasingly investing in R&D to reduce investment and cut operating costs to improve their margin as a result of crude oil price fluctuations. Crude oil prices and rising demand are expected to push EPS prices in the near future.
Global Expanded Polystyrene Market Business Strategy
- In August 2018, Atlas Roofing announced the purchase of ACH Foam Technologies. Atlas’ product portfolio will be expanded and improved, and the company’s position in the North American market will be strengthened as a result of the acquisition.
- In January 2018, Ruukin EPS was acquired by BEWiSynbra. The company gets better geographical coverage in Finland as a result of this acquisition and it can also offer EPS insulation material and packaging solutions, as it does in the rest of the Nordics.
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Expanded Polystyrene Market Segmentation
The global expanded polystyrene (EPS) market can be segmented as product type and end-user industry. By product type, the market is segregated as white, gray, and black. In addition, by end-user industry, the market is segmented into building and construction, packaging, and others (auto, medical, marine, and sports and entertainment).
Expanded Polystyrene EPS Market Share
According to our extensive analysis of the polystyrene industry, the white segment commands a large market share in the global market. The growing use of white EPS in construction and packaging is driving the market growth. In addition, the financial advantage of white EPS over gray and black EPS is a driving force for market growth.
According to our forecast for the expanded polystyrene market, the construction industry has historically dominated the market and is predicted to continue to do so during the forecast period. It has wide support because the building and construction industry uses expanded polystyrene (EPS) for its lightness, strength, thermal efficiency, shock absorption, usability, and other qualities. It is used, among other things, in the construction of walls, roofs, closed cavity walls, floor insulation, and roads. This is one of the main factors influencing the expanded polystyrene (EPS) market worldwide.
Expanded Polystyrene Market Regional Growth
The global expanded polystyrene market is divided into five regions: North America, Europe, Asia Pacific, and Latin America and the Middle East and Africa (LAMEA).
The expanded polystyrene (EPS) market is largely dominated by the Asia-Pacific region. The region is expected to grow at the fastest CAGR during the analysis period due to increasing product demand in key application areas such as automotive, construction, and packaging, in developing countries such as China and India. . The APAC construction market is expanding at the fastest rate globally. Government programs such as “Housing for All” in India and increasing urbanization and disposable income are also driving the construction industry in APAC.
The second largest market for expanded polystyrene is in Europe (EPS). This is a result of increased demand from the construction, packaging, and automotive industries. The product has uses in many industries due to its adaptable advantages and simplicity in casting and shaping. Due to their excellent environmental advantages, which can provide an improved indoor environment, increased energy efficiency, and improved durability, green building design applications have seen a large increase in product demand in the European market in recent years.
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Expanded Polystyrene Market Players
Some of the leading expanded polystyrene companies operating in the industry include BASF SE, Kaneka Corporation, Total SE, NOVA Chemicals Corporation, Ravago, and Saudi Basic Industries Corporation.
Questions Answered in This Report
- What will be the market size of Expanded Polystyrene Market in 2021?
- What will be the CAGR of the Expanded Polystyrene Market during the forecast period from 2022 to 2030?
- Who are the major players in the Global Expanded Polystyrene Market?
- Which region will hold the largest share of Expanded Polystyrene Market in 2021?
- What are the key market drivers of Expanded Polystyrene Market?
- Who are the largest end users Expanded Polystyrene Market?
- What will the Expanded Polystyrene Market be worth in 2030?
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