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Expanded Polystyrene Market

Over 40% Expanded Polystyrene (EPS) Demand Stimulated by Construction Industry: Fact.MR Study

Published : 19 Aug 2021 Industry: Chemical & Materials

As per Fact.MR - a market research and competitive intelligence provider, the global expanded polystyrene (EPS) market was valued at around US$ 16 Bn in 2020, and is predicted to expand at a CAGR of 5% over the 2021-2031 forecast period.

Expanded polystyrene is a lightweight chemical polymer manufactured by using polystyrene beads. This polymer is versatile in nature, provides excellent resistance and durability, and is an effective moisture-resisting polymer.

Expanded polystyrene is an insulation material found in a multitude of shapes and sizes. Expanded polystyrene is a result of the polymerization of a large number of styrene monomers linked together to polystyrene. It is a rigid cellular plastic that also contains an expansion agent.

Rising usage in several different applications across end-use industries such as construction, packaging, etc., will boost demand and provide sustainable growth to the global EPS market.

Key Takeaways from Market Study

  • Global expanded polystyrene market to top US$ 20 Bn by 2031.
  • Construction industry projected to account around US$ 7 Bn by 2031.
  • Demand from packaging industry to record above 3% CAGR over next 10 years.
  • Market in Japan to record 2% CAGR over forecast period of 2021- 2031.
  • China forecast to reach projected market size above US$ 5 Bn by 2031.
  • Market in Canada projected to expand at above 3% CAGR over next 10 years.

“Leading players are engaged in expanding their production capacity of expanded polystyrene and also performing R&D for enhancing the quality of products,” says a Fact.MR analyst.    

Market Competition

Majority of market players are engaged in the expansion of manufacturing facilities, mergers & acquisitions, and vertically integrating across the value chain.

These initiatives enable companies to cater to increasing global demand, ensure competitive effectiveness, enhance sales & operations planning, develop innovative products & technologies, lower production costs, and expand their customer base.

  • In November 2019, BEWiSynbra Group, one of Europe's leading integrated producers of expandable polystyrene, and HIRSCH Servo Group, reported that they agreed to purchase six EPS insulation manufacturing sites in France, as well as 49.9% of the shares in the French company Isossol SAS, from Placoplatre SA, a subsidiary of Saint-Gobain. The acquisitions are made through HIRSCH France SAS, a newly established French company that is owned 66% by HIRSCH and 34% by BEWiSynbra.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the EPS market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the market on the basis of product (white, grey, and black) and application (construction, packaging, and automotive), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).

Fact.MR’s Domain Knowledge in Chemicals and Materials

Our chemical and material consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemical and material sector. Our expertise in recognizing the challenges and trends impacting the global chemical and material industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Consultant – Chemicals and Materials

E-mail: shambhu@factmr.com

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Expanded Polystyrene Market By Product (White, Grey & Black Expanded Polystyrene), By Application (Expanded Polystyrene For Construction, Packaging & Automotive) - Global Market Insights 2021 to 2031