Expanded Polystyrene Market – insightSLICE
Expanded Polystyrene Market – insightSLICE
Expandable Polystyrene (EPS) Market Global Sales are Expected to Reach US$ 29.97 Billion by 2032
SANTA ROSA, CALIFORNIA, USA, April 18, 2023/EINPresswire.com/ — The Global Expandable Polystyrene (EPS) Market Share, Trends, Analysis and Forecasts, 2019-2032 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global expandable polystyrene (EPS) market was estimated to be US$ 19.67 Billion in 2022 and is expected to reach US$ 29.97 Billion by 2032 at a CAGR of 4.2%. Expandable polystyrene (EPS) is a lightweight and versatile foam material that is made from the thermoplastic resin polystyrene. The manufacturing process involves expanding small beads of polystyrene through the application of heat and pressure, which causes them to fuse together and form a closed-cell structure. EPS foam is commonly used for a variety of applications, including packaging, insulation, and construction. It provides excellent thermal insulation properties, high strength-to-weight ratio, and is resistant to moisture, chemicals, and impact. EPS is also 100% recyclable, making it a sustainable choice for many industries.
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Growth driving factors of Global Expandable Polystyrene (EPS) Market
Following are some of the major factors driving the market –
Increasing demand for EPS in packaging, construction, automotive, electrical and electronics industries: EPS is widely used in packaging, construction, automotive, electrical and electronics industries due to its lightweight, thermal insulation, cushioning, and sound-absorbing properties. The demand for EPS in these industries is increasing due to its versatility and cost-effectiveness.
Technological advancements in EPS production: Technological advancements in EPS production have enabled the manufacturers to produce high-quality EPS products with improved characteristics, such as increased thermal insulation, fire resistance, and mechanical strength. This has led to an increase in the use of EPS in various industries.
Environmental regulations and sustainability concerns: Governments and regulatory bodies around the world are increasingly emphasizing environmental regulations and sustainability concerns. EPS is a recyclable material, and its use reduces the environmental impact of other materials, such as metals and plastics, that are not easily recyclable. This has increased the demand for EPS in various industries.
Expansion of the construction industry in emerging economies: The construction industry in emerging economies is growing rapidly due to urbanization and industrialization. EPS is widely used in construction for thermal insulation, soundproofing, and lightweight construction. This has led to an increase in demand for EPS in the construction industry.
Growing demand for energy-efficient homes and green buildings: The demand for energy-efficient homes and green buildings is increasing due to environmental concerns and cost savings. EPS is used in the construction of energy-efficient homes and green buildings due to its thermal insulation properties. This has led to an increase in demand for EPS in the construction industry.
Growing demand for EPS in the healthcare industry: EPS is widely used in the healthcare industry for packaging, transportation, and storage of medical equipment and supplies due to its lightweight, cushioning, and protective properties. The demand for EPS in the healthcare industry is increasing due to the growth of the healthcare industry and the increasing demand for medical equipment and supplies.
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The leading market segments of Global Expandable Polystyrene (EPS) Market
Based on End-users, the largest segment is the Building & Construction industry. The increasing demand for energy-efficient materials in construction activities and the growth of the construction industry in developing countries are the major factors driving the market growth. EPS is widely used for insulation purposes, such as wall insulation, roof insulation, and underfloor insulation. The construction industry is also increasingly adopting green building practices, which includes the use of sustainable and energy-efficient materials such as EPS. The key trend specific to the Building & Construction segment is the use of EPS in insulated concrete forms (ICF). ICFs are gaining popularity as they provide superior insulation, structural strength, and energy efficiency.
While, the fastest-growing segment in the market is the Electrical & Electronics industry. The rising demand for electronics devices such as smartphones, laptops, and tablets is driving the market growth. EPS is used in the packaging of electronic products, which protects them from damage during transportation and handling. In addition, the growth of the automotive industry is also driving the demand for EPS, as it is used for the production of automotive parts, such as dashboards and door panels. The key trend specific to the Electrical & Electronics segment is the use of EPS for the development of advanced packaging materials that can provide better protection to electronic devices during transportation and handling.
Geographically, the Asia-Pacific region is the largest market for expandable polystyrene (EPS), accounting for a significant share of the global market. The growth in the region can be attributed to the rising demand for EPS foam from various end-use industries such as packaging, construction, and automotive. The region has witnessed substantial economic growth, urbanization, and an increase in disposable income, which has led to a surge in construction activities and the demand for consumer goods.
On the other hand, the Middle East and Africa (MEA) region is projected to be the fastest-growing market for EPS in the coming years. The growth in the region can be attributed to the expansion of the construction industry and the increasing demand for packaged food and beverages. Additionally, the increasing demand for lightweight and durable packaging materials in the e-commerce industry is also expected to drive the demand for EPS foam in the region.
The key players of the Global Expandable Polystyrene (EPS) Market are:
BASF SE, Dow Inc., INEOS Styrolution, Knauf Industries, Kaneka Corporation, NOVA Chemicals Corporation, SABIC, SCG Chemicals Co., Ltd., Synthos S.A., Total S.A., Trinseo LLC, Versalis S.p.A., Wanhua Chemical Group Co., Ltd., StyroChem, Sunpor Kunststoff GmbH., and Others.
Market Segmentation
By Form:
• Blocks
• Sheets
• Molded Parts
• Other Forms
By Application:
• Packaging
• Building & Construction
• Electrical & Electronics
• Other Applications
By End-user:
• Food & Beverage
• Consumer Goods
• Building & Construction
• Electrical & Electronics
• Automotive
• Other End-users
By Region
• North America
* United States
* Canada
* Rest of North America
• Europe
* Germany
* United Kingdom
* Italy
* France
* Spain
* Rest of Europe
• Asia Pacific
* Japan
* India
* China
* Australia
* South Korea
* Rest of Asia Pacific
• Middle East & Africa
* UAE
* Saudi Arabia
* South Africa
* Rest of the Middle East & Africa
• South America
* Brazil
* Rest of South America
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