ROCKVILLE, Md., Feb. 23, 2022 (GLOBE NEWSWIRE) -- 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.
“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.
Increasing demand for sustainable and lightweight solutions that provide extreme durability coupled with improved thermal insulation is projected to boost the growth of the market over the forecast period. The rising demand for acoustic and thermal insulation in the building & construction industry in developing economies including China and India is expected to increase the demand for high-quality polymers.
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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 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.
Expanded polystyrene (EPS) is a rigid and light weight insulation material with various properties such as shock absorption, resistance to humidity, resistance to compression, retention to vitamin C, hygienic, and resistance to chemicals. It finds application in automotive, furnishing, packaging, and construction industry.
- Over the medium term, the growth of the expanded polystyrene market is likely to be driven by the growth in the construction industry in Asia-Pacific and Eastern Europe and an advantage over competitive materials.
- Stringent government regulations and factors such as decreasing demand from the packaging industry are likely to hinder the growth of the expanded polystyrene market.
- Recycling in the EPS industry is expected to create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market, and it is also expected to witness the highest growth during the forecast period.
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.
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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.
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.
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Key Benefits for Stakeholders:
- The Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current expanded polystyrene market share and future scenario of the market size from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
- Major countries in the region have been mapped according to their individual revenue contribution in the expanded polystyrene market size at the regional and country-level market.
- The key drivers, restraints, and expanded polystyrene market opportunities and their detailed impact analyses are elucidated in the study.
- The profiles of key players and their relative expanded polystyrene market share are enlisted in the report.
- Expanded polystyrene market forecast is studied from 2019-2026.
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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).
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