Introduction of the Expanded Polystyrene Market Report

Expanded polystyrene is a rigid closed cell, thermostatic foam material produced from solid polystyrene beads, also known as EPS. It is mainly used for sound insulation, protection for valuable and fragile goods and insulation material. They come in a different range of densities providing wide range of physical properties. It consists of 98% air, making it one of the lightest packaging materials. Some of the key benefits of EPS include being energy efficient (minimal energy and no production waste), thermal insulation, bacterial resistance, and cost-effectiveness.

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Market Dynamic

Key Drivers and Emerging Trends

The global expanded polystyrene market factors include the rising demand for EPS in the construction industry due to reduced energy consumption and greenhouse gas (GHG) emissions. In recent years, green buildings have been gaining more popularity over conventional ones. Green building offers an advantage, including better air quality and overall load on metal frames compared to a conventional building. Excellent insulation offered by EPS is significantly boosting its demand in green buildings. According to International Finance Corporation, Green building is expected to represent a $24.7 trillion investment opportunity by 2030 across emerging markets.

Furthermore, EPS is used in various electronic appliances packaging, for instance refrigerators, ovens, microwaves, capacitors, and IT and telecom equipment. With robust demand for smartly designed electrical appliances entailing functionalities by the global consumers. For instance, Midea group (the world’s largest producer of major appliances) had generated a total profit of approximately 31 billion yuan in 2020 from 29 billion yuan in 2019, indicating more consumption of EPS in packaging, which can likely surge the overall growth of EPS in packaging product.

Restraint in the Expanded Polystyrene Market

However, stringent government regulations act as a market restraint. For instance, in 2020, The New York Legislature passed a ban on most expanded polystyrene due to difficulty in recycling and long-term negative impact on waterways and wildlife, which can likely hamper the market’s overall growth.

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Product- Segment Analysis

Based on the product, white EPS is expected to grow at the fastest rate in the global expanded polystyrene market during the forecast period. White EPS used in furniture, construction, and automotive applications.  White EPS marginally cost less than grey EPS and are much easier to work with. Moreover, white EPS reflects the sun better than grey, and therefore its surface does not get as ‘greasy’ in the sun’s heat.

Application- Segment Analysis

Based on the application, EPS is extensively used in the packaging industry owing to the excellent shock-absorbing properties and projected to grow at a higher CAGR over the forecast period. For instance, in 2021, Epsilyte holding LLC, a leading provider of expandable polystyrene (EPS), services, and solution, acquired Polysource Inc, a leading producer of compounded EPS and molded product used in building insulation. According to UNCTAD (United Nations Conference on Trade and Development), online purchases have increased by 6 to 10 percent across most product categories, which will surge the demand of EPS used in packaging, thereby driving the segment’s overall growth.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is expected to grow at a higher growth rate in the global expanded polystyrene market over the forecasted period owing to the rising demand for construction in countries such as India and China. For instance, China’s ‘One Belt One Road Initiative’ to make a road and marine network from China to Italy to accelerate commercial activities. EPS is used for construction of ground embankment with low bearing capability, which will likely boost EPS industry over the forecast period.

Top Market Players

Various notable players operating in the market include, Team Industries, Royal Foam Inc, Polymers Group Inc, VERSALIS, Alpek S.A.B de C.V, Dow, UNIPOL, Synthos, Total, Jiangsu Leasty Chemical Corp, among others. 

Key Developments:

• • In 2020, alpek announced that it has signed an agreement to acquire 100% stake in Nova Chemicals styrene’s business. 

Segments covered in the Report:

The global expanded polystyrene market has been segmented based on product, application, and region. Based on product, the market is segmented into white and grey. Based on application, the market is segmented into construction, packaging, automotive and others. 

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Key questions answered in this research report:

• • At what pace is global expanded polystyrene market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in expanded polystyrene market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global expanded polystyrene market?
  • Which product generated maximum revenues in 2020 and identify the most promising product during the forecast period?
  • What are the various application areas of global expanded polystyrene market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Team Industries, Royal Foam Inc, Polymers Group Inc, VERSALIS, Alpek S.A.B de C.V, Dow, UNIPOL, Synthos, Total, Jiangsu Leasty Chemical Corp, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Expanded Polystyrene Market by Product

• • White
  • Grey

Global Expanded Polystyrene Market by Application

• • Construction
  • Packaging
  • Industrial
  • Others

Global Expanded Polystyrene Market by Region

• • North America Expanded Polystyrene Market (Option 1: As a part of the free 25% customization)
    • North America Expanded Polystyrene Market by Product
    • North America Expanded Polystyrene Market by Application
    • US Expanded Polystyrene Market All-Up
    • Canada Expanded Polystyrene Market All-Up
  • Europe Expanded Polystyrene Market (Option 2: As a part of the free 25% customization)
    • Europe Expanded Polystyrene Market by Product
    • Europe Expanded Polystyrene Market by Application
    • UK Expanded Polystyrene Market All-Up
    • Germany Expanded Polystyrene Market All-Up
    • France Expanded Polystyrene Market All-Up
    • Spain Expanded Polystyrene Market All-Up
    • Rest of Europe Expanded Polystyrene Market All-Up
  • Asia-Pacific Expanded Polystyrene Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Expanded Polystyrene Market by Product
    • Asia-Pacific Expanded Polystyrene Market by Application
    • China Expanded Polystyrene Market All-Up
    • India Expanded Polystyrene Market All-Up
    • Japan Expanded Polystyrene Market All-Up
    • Rest of APAC Expanded Polystyrene Market All-Up
  • RoW Expanded Polystyrene Market (Option 4: As a part of the free 25% customization)
    • RoW Expanded Polystyrene Market by Product
    • RoW Expanded Polystyrene Market by Application
    • Brazil Expanded Polystyrene Market All-Up
    • South Africa Expanded Polystyrene Market All-Up
    • Saudi Arabia Expanded Polystyrene Market All-Up
    • UAE Expanded Polystyrene Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Expanded Polystyrene Market All-Up

Major Players Operating in the Expanded polystyrene (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Team Industries
  • Royal Foam Inc
  • Polymers Group Ltd
  • VERSALIS
  • Alpek S.A.B de C.V
  • Dow
  • UNIPOL
  • Synthos
  • Total
  • Jiangsu Leasty Chemical Corp