The global Expanded Polystyrene market size is expected to reach USD 14.88 Billion in 2030 and register a revenue CAGR of 4.6% over the forecast period, according to a latest report by Reports and Data. Rising demand for expanded polystyrene in the construction industry and increasing adoption of expanded polystyrene for electronic packaging products are expected to drive market revenue growth during the forecast period. Increasing adoption of expanded polystyrene for its decorative and imaginative appearance is expected to boost the growth of the expanded polystyrene market in the near future. Expanded polystyrene can enhance structural integrity and aesthetic design on the floors and walls, increasing demand for expanded polystyrene. Increasing demand for expanded polystyrene due to low maintenance, long shelf life, and fast and economical construction is another factor increasing its adoption, which is expected to propel the revenue growth of the market in the near future.
Leading Players– Arkema S.A, Alpek, S.A.B de C.V, S.A.B de C.V, BASF SE, Evonik Industries AG, Styro Limited, Kaneka Corporation, Nova Chemical Corporation, Saudi Basic Industries Corporation, TotalEnergies SE, and Epsilyte LLC.
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Some Key Highlights in the Report
- Packaging segment is expected to account for larger share of revenue over the forecast period. Increasing need for the proper packaging of consumer goods to protect their content from any damage during transportation, handling, and storage is expected to boost the revenue growth of the segment. Increasing usage of expanded polystyrene due to its wide application across several industries such as electronics, foods, and beverages for effective packaging is another factor expected to drive the segment growth.
- Construction segment is expected to account for largest revenue share in the global expanded polystyrene market between 2022 and 2030. Increasing demand for expanded polystyrene for insulation purposes in the construction industry is driving revenue growth in the segment. Increasing demand for expanded polystyrene for the flooring and roof construction of residential and commercial buildings is another factor. This is expected to drive the revenue growth of the segment.
- Asia Pacific expanded polystyrene market is expected to account for largest revenue share in the global market over the forecast period. Rapid growth of the packaging and construction industries in the countries in the region is expected to drive market revenue growth.
- Companies profiled in the global market report include Arkema S.A, Alpek, S.A.B de C.V, S.A.B de C.V, BASF SE, Evonik Industries AG, Styro Limited, Kaneka Corporation, Nova Chemical Corporation, Saudi Basic Industries Corporation, TotalEnergies SE, and Epsilyte LLC.
- In October 2021, Alpek, S.A.B de C.V announced it would conclude a comprehensive review of the global ESG landscape and the company’s role and responsibilities within it. Aplek has set targets for each of its materials issues, including commitments towards achieving net-zero greenhouse gas emissions from its global operations by 2050.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Product Type Outlook (Revenue, USD Billion; Volume; Kilo Tons; 2019-2030)
- White EPS
- Grey EPS
- Black EPS
Application Outlook (Revenue, USD Billion; Volume; Kilo Tons; 2019-2030)
- Packaging
- Insulation
- Foaming
- Component Manufacturing
- Chemical Intermediate
Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Expanded Polystyrene market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Expanded Polystyrene market over the forecast years?
- Which are the leading players in the global Expanded Polystyrene market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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