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Expanded Polystyrene Market

Expanded Polystyrene Market

Varied Applications of Expanded Polystyrene in End-Use Industries such as Construction & Packaging to Boost the Expanded Polystyrene Market Growth

Expanded Polystyrene Market
FACT4080MR

Market Snapshot

As per latest industry analysis published by Fact.MR, the global expanded polystyrene (EPS) market was valued at around US$ 16 Bn in 2020, and is expected to reach US$ 20 Bn by 2031, rising at a CAGR of 5%. Demand for white expanded polystyrene is projected to accelerate at a CAGR of 4% across the assessment period of 2021 to 2031.

Key Points Covered in Expanded Polystyrene Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Certifications and Compliance Requirements
  • Analysis of Supply Contracts, Avg. Consumption, Potential for Direct & Indirect Sales
  • Brand Share and Market Share Analysis
  • Growth Opportunities for Expanded Polystyrene in 2021
  • Expanded Polystyrene (EPS) Pricing Analysis
  • EPS Resin Market
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Expanded Polystyrene Sales and How to Navigate
  • Recommendation on Key Winning Strategies

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Consumption Analysis of Expanded Polystyrene from 2016 to 2020 Vs Demand Outlook for 2021 to 2031

As per Fact.MR - a market research and competitive intelligence provider, global value sales of expanded polystyrene topped US$ 16 Bn in 2020.

Rising urbanization, industrialization, and construction activities will boost demand for expanded polystyrene. Upsurge in the demand for durable residential and commercial buildings will further foster expanded polystyrene market growth, especially in developing economies.

Increasing demand for sustainable and lightweight solutions that provide extreme durability coupled with improved thermal insulation is projected to drive the use of expanded polystyrene over the forecast period.

Furthermore, rising construction activities of durable commercial and residential buildings that can easily withstand extreme external environmental factors are expected to drive the market at 5% CAGR from 2021 to 2031.

What are the Key Factors Stimulating Demand for EPS?

In recent years, polymers have become extremely important as engineering materials. In terms of application, they are now successfully competing with other major classes of materials.

Expanded polymers have found renewed vigor in the construction industry. This is because of the properties of expanded polystyrene such as low thermal conductivity, low weight, mechanical resistance, low water absorption, chemical resistance, and others. Moreover, ease of handling and installation is anticipated to fuel demand for expanded polystyrene in forecast period.

Increasing inclination towards eco-friendly construction polymers has risen demand for EPS insulation in the construction sector. Various studies suggest that greenhouse gas emissions from buildings might reach an alarming rate in the near future if proper measures are not taken.

The above-mentioned factors and government measures towards eco-friendly construction materials are anticipated to fuel the expanded polystyrene market size.

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What is Adversely Affecting Sales of Expanded Polystyrene?

Polystyrene is a kind of plastic. Like other plastic, when polystyrene is littered or leaks out of supply chains it can harm wildlife and last for years and years.   Made from chemicals that come from oil and gas, styrene is one of the main ingredients and is a suspected health hazard.

Expanded polystyrene (EPS) and extruded polystyrene (XPS) are materials that resonate with the name ‘polystyrene’, or the trademark ‘Styrofoam’. Often, these polystyrene materials are used to make boxes for the transportation of products that need to have a regulated temperature; for example, to keep food warm or cool and to protect breakable items.

Expanded polystyrene foam is made of plastic or synthetic polymers that cannot be recycled. Such foam materials are being actively used in the production of high-performance protective packaging solutions.

Regulatory bodies are levying penalties on expanded polystyrene foam manufacturers in the global foam protective packaging market to limit the production of Expanded Polystyrene-based foam, also known as Styrofoam. The above factors will negatively affect the expanded polystyrene foam (EPF) market.

Which Region is a Lucrative Market for Expanded Polystyrene Manufacturers?

The Asia Pacific regional market accounted for an expanded polystyrene market share of more than 50% in 2020.  The region will continue to hold its dominance during the forecast period. This is because of growing building and construction activities across countries in this region.

Growth and expansion of automobile industry especially in the developing countries will further propel the expanded polystyrene market growth. Rising demand for expanded polystyrene from various end user verticals such as application of expanded polystyrene in packaging will further create lucrative market growth opportunities. Easy availability of low cost labour and abundant raw materials will further grab many eyeballs of the manufacturers.

The Germany black expanded polystyrene market and the U.K. expanded polystyrene-based foam market have also observed remarkable growth due to technological advancements and the introduction of lightweight & biocompatible products in the industry.

Other countries / regions that are expected to perform well over the coming years include the Canada white expanded polystyrene market and Mexico grey expanded polystyrene market.

Expanded polystyrene eps market by Fact.MR

An Adaptive Approach to Modern-day Research Needs

Country-wise Analysis

Will the U.S. Remain a Lucrative Market for Expanded Polystyrene Suppliers?

The market in the U.S. was valued at over US$ 4 Bn in 2020. Rising disposable income and increasing investments in the end-use industries are likely to drive the market during the forecast period. The market for EPS in the U.S is growing significantly due to increased consumption of polystyrene in packaging, construction & buildings, and others.

The construction industry is a significant contributor to the U.S. expandable polystyrene (EPS) market share. The US$ 20 Tn U.S. economy relies on a vast infrastructure network, from bridges and roads to freight rail and ports to electrical grids and Internet provision.

The country’s market is mainly driven by increasing investments in residential construction, rising use of expanded polystyrene in the automotive industry, and growing demand for remodeling old buildings.

What are the Growth Opportunities for Expanded Polystyrene Providers across China?

By 2031, China is expected to have a market value of roughly US$ 5 Bn. China is the largest consumer in the Asia Pacific region. Due to the booming housing market and real estate demand, the construction and building industry is expected to grow rapidly, which is anticipated to increase the consumption of expanded polystyrene over the coming years.

The housing market is facing strong demand fueled by rising incomes, low-interest rates, and high levels of net migration. It is estimated that the Government of China is likely to inject more than US$ 560 Bn in housing and building constructions for the growing population.

Currently, China has numerous airport construction projects, which are either in the development or planning stage. The Civil Aviation Administration of China (CAAC) aims to construct 216 new airports by 2035 to meet the growing demands for air travel. China had 234 civil airports in October 2020, and this number is likely to hit 450 by 2035. Additionally, the government rolled out massive construction plans for the movement of 250 Mn people to its new megacities over the next ten years.

Category-wise Insights

Will the Popularity of White Expanded Polystyrene Continue Rising?

White EPS leads the market and accounted for more than 40% share of global revenue in 2020, and is projected to enjoy a growth rate of 4% during the forecast period. This can be attributed to excellent thermal and mechanical properties, easy recyclability, and non-corrosive characteristics of white EPS.

The thermal resistance of white EPS depends on the density of the finished product and does not lessen with time.

Growing use of white EPS in furniture production, sports helmets, construction, expanded polystyrene sheets, and automotive applications are fueling the demand for white EPS across regions.

What is the Scope of Growth for EPS in the Construction Industry?

Construction application of EPS is projected to reach around US$ 7 Bn by 2031. Growth of the construction industry is creating opportunities for new construction materials. The construction sector is becoming one of the largest consumers of polymer composites.

The construction industry is well aware of the challenges it is likely to face in the next millennium, and is thereby continuously seeking new solutions. This is creating opportunities for expanded polystyrene as it can resolve some of the most critical as well as common issues in constructions. Use of expanded polystyrene can facilitate the production of cost-effective and energy-efficient materials.

Innovation of existing materials, to the development of new material combinations and additional multifunctional characteristics, have benefited the players in EPS market. Concurrently, these polymer-based materials have additional properties, which are often not found in conventional materials.

Expanded polystyrene is witnessing high adoption, for consumption of grey EPS in the building & construction industry and is also mixed with ceramics and metals in order to develop essential engineering materials that are used for constructing buildings, bridges, and other infrastructure.

What is the Impact of COVID-19 on Expanded Polystyrene Demand?

The COVID-19 pandemic has negatively impacted demand for expanded polystyrene and sales of grey EPS. This was mainly due to large-scale closures, shutdowns, and restrictions on travel.

Rapid spread of coronavirus has had a major impact on global markets as major economies of the world were completely shut due to this pandemic. As a result, the EPS manufacturing process slowed down and suddenly all the consumer markets started to show zero interest towards purchasing any goods.

One of the major difficulties, market is facing the shutdown of all kinds of International transportation. Global crisis for all sectors including building and construction, which was hit by slowing demand in production and exports had slowdown the market for expandable polystyrene market.

Also, several international production and manufacturing businesses were affected significantly and this had a direct impact on expanded polystyrene manufacturing. But slowly, with passing time and decreasing rates of positive cases of COVID-19, the polystyrene market is regaining its position and stabilizing.

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Competitive Landscape

Top expanded polystyrene manufacturers are primarily aiming to carry out strategic acquisitions, collaborations, and launch innovative products. Strategic steps such as acquisitions help companies in expanding their reach in the market in terms of both, product portfolio and geography.

  • In 2019, Styropek Mexico began a collaboration with one of its EPS suppliers to collect pentane emissions from the EPS bead pre-expansion and stabilization process.
  • In June 2019, BASF SE increased its global production capacity of Neopor (a graphite polystyrene rigid foam and a type of EPS) by 40,000 metric tons per year. The capacity addition was done at two production sites, namely, Ulsan (Korea) and Ludwigshafen (Germany).

Expanded Polystyrene Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 16 Billion

Market forecast value in 2031

USD 20 Billion

Growth Rate

CAGR of 4% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Product
  • Application
  • Region

Key Companies Profiled

  • BASF SE
  • Arkema S.A.
  • Alpek, S.A.B. De C.V.
  • Trinseo SA Sunpor Kunststoff GmbH
  • Versalis S.P.A.
  • Flint Hills Resources, LLC
  • Total S.A.
  • PJSC Sibur Holding
  • Nova Chemicals Corporation
  • Saudi Basic Industries Corporation (SABIC)
  • Kaneka Corporation
  • Atlas Roofing Corporation
  • Bewisynbra Group
  • Ravago Group
  • Styrochem

Pricing

Available upon Request

Key Segments Covered in Expanded Polystyrene Industry Research

  • Product

    • White Expanded Polystyrene
    • Grey Expanded Polystyrene
    • Black Expanded Polystyrene
  • Application

    • Expanded Polystyrene For Construction
    • Expanded Polystyrene For Packaging
    • Expanded Polystyrene For Automotive

Expanded Polystyrene (EPS) Market: Report Scope

A recently revised study by Fact.MR on the expanded polystyrene (EPS) market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates recent market developments, strategic market growth analysis, market size, category market growths, product approvals, product launches, geographical expansions, and technological innovations associated with expanded polystyrene.

The study also provides the dynamics responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing expanded polystyrene, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of expanded polystyrene across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of EPS during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative markets for expanded polystyrene?
  • Which factors will impact the growth of the market?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the expanded polystyrene industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Market estimates at global and regional levels for expanded polystyrene is available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global expanded polystyrene market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the expanded polystyrene market during the forecast period.

Country-specific valuation on demand for expanded polystyrene has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value and volume for emerging countries has also been included in the report.

Competition Analysis

The report sheds light on leading manufacturers of expanded polystyrene, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering expanded polystyrene has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the EPS market.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of expanded polystyrene market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

Revenue from the global expanded polystyrene market is valued at around US$ 16 Bn at present.

From 2016-2020, sales of expanded polystyrene registered a CAGR of 3%.

Rising urbanization and industrialization, especially in developing economies, will propel demand for expanded polystyrene.

Major EPS manufacturers are BASF SE, Arkema S.A., Alpek, S.A.B. De C.V., and Trinseo SA Sunpor Kunststoff GmbH, as per ratings on the basis of market share, market reach, clientele, etc.

Demand for expanded polystyrene is anticipated to rise at around 4% CAGR in the Latin American region through 2031.

The European market for expanded polystyrene is projected to expand at a low CAGR of 2% during 2021 – 2031.

The U.S., China, U.K., India, and Germany are expected to drive most of the demand for expanded polystyrene.

White EPS remains the leading segment and is expected to hold a share of 40%.

As per Fact.MR’s projections, demand for expanded polystyrene is expected to reach a value of US$ 20 Bn by the end of 2031, with sales expected to register a CAGR of 5%.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.