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Expanded Polystyrene (EPS) Market Size (2024 - 2029)

The Expanded Polystyrene market is projected to experience growth over the forecast period, driven by a resurgence in demand from key end-user industries following the COVID-19 pandemic. The market's expansion is supported by the increasing need for high-quality packaging materials, particularly in the food sector, where EPS is approved for use. However, growth is challenged by the availability of alternative materials and stringent environmental regulations. Opportunities exist in the development of bio-based polystyrene and its applications in marine industries. The Asia Pacific region holds the largest market share and is anticipated to maintain its dominance throughout the forecast period.

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Market Size of Expanded Polystyrene (EPS) Industry

Expanded Polystyrene (EPS) Market Summary
Study Period 2019 - 2029
Market Volume (2024) 12.46 Million tons
Market Volume (2029) 14.48 Million tons
CAGR (2024 - 2029) 3.05 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

Expanded Polystyrene (EPS) Market Analysis

The Expanded Polystyrene Market size is estimated at 12.46 Million tons in 2024, and is expected to reach 14.48 Million tons by 2029, growing at a CAGR of 3.05% during the forecast period (2024-2029).

The market was negatively impacted by COVID-19 in 2020. With the resumption of operations in major end-user industries, the market recovered significantly in 2021.

  • Over the short term, increasing demand for value and quality enriched products, including organic and fair trade and health and wellness goods, indicates a favorable potential demand for packaging materials. EPS is approved for use in conjunction with food products.
  • On the flip side, the availability of alternative products for EPS and environmental regulations are hindering the growth of the market studied.
  • The increasing demand for bio-based polystyrene and applications in marine floatation and floating decks are likely to act as opportunities for the studied market.
  • The Asia Pacific accounts for the highest market share and is expected to dominate the market during the forecast period.

Expanded Polystyrene (EPS) Industry Segmentation

Expanded Polystyrene (EPS) is a lightweight cellular plastic material consisting of small hollow spherical balls. It is closed cellular construction that gives EPS its remarkable characteristics. It is a well-established insulation material used in various applications as it has a light yet rigid foam with good thermal insulation and high impact resistance. The expanded polystyrene market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into white EPS and grey and silver EPS. By end-user industry, the market is segmented into building and construction, electrical and electronics, packaging, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton).

Product Type
White EPS
Grey And Silver EPS
End-user Industry
Building and Construction
Electrical and Electronics
Packaging
Other End-user Industries (Agriculture and Automotive)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Nordic Countries
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Expanded Polystyrene (EPS) Market Size Summary

The expanded polystyrene (EPS) market is poised for growth, driven by its cost-effectiveness and versatility as a protective packaging material. EPS is widely used across various industries, including food, industrial, and pharmaceutical packaging, due to its lightweight, rigid, and shock-absorbing properties. The market is experiencing a resurgence following the disruptions caused by the COVID-19 pandemic, with significant recovery noted in 2021. The increasing demand for high-quality packaging materials, particularly in the Asia-Pacific region, is expected to bolster market expansion. However, the market faces challenges from environmental regulations and the availability of alternative materials, which could impede growth. Despite these challenges, opportunities exist in the form of bio-based polystyrene and applications in marine floatation, which could further drive market development.

The Asia-Pacific region, particularly China, is a dominant force in the EPS market, with the country leading in consumption and growth. The construction sector's expansion, driven by government initiatives and infrastructure development, is anticipated to boost EPS demand. Similarly, India's burgeoning digital economy and manufacturing sector are expected to contribute to market growth. The fragmented nature of the EPS market sees major players like BASF SE and Alpek SAB de CV actively pursuing strategic acquisitions to enhance their market presence. These developments, coupled with the increasing demand for EPS in packaging applications, suggest a positive outlook for the market during the forecast period.

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Expanded Polystyrene (EPS) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Building and Construction Industry

      2. 1.1.2 Rising Demand from the Packaging Industry

    2. 1.2 Restraints

      1. 1.2.1 Environmental Regulations

      2. 1.2.2 Alternative Products For EPS

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter Five Forces

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Import-Export Trends

  2. 2. Market Segmentation (Market Size in Volume)

    1. 2.1 Product Type

      1. 2.1.1 White EPS

      2. 2.1.2 Grey And Silver EPS

    2. 2.2 End-user Industry

      1. 2.2.1 Building and Construction

      2. 2.2.2 Electrical and Electronics

      3. 2.2.3 Packaging

      4. 2.2.4 Other End-user Industries (Agriculture and Automotive)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Nordic Countries

        6. 2.3.3.6 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Expanded Polystyrene (EPS) Market Size FAQs

The Expanded Polystyrene (EPS) Market size is expected to reach 12.46 million tons in 2024 and grow at a CAGR of 3.05% to reach 14.48 million tons by 2029.

In 2024, the Expanded Polystyrene (EPS) Market size is expected to reach 12.46 million tons.

Expanded Polystyrene Market Report Snapshots

Expanded Polystyrene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)