Know More About “Expanded Polystyrene Market 2020-2027” Growth Worldwide…..|Grand View Research, Inc.

The global expanded polystyrene market size is projected to reach approximately USD 13.66 billion by 2027, according to a new report conducted by Grand View Research, Inc. It is expected to register a revenue-based CAGR of 4.8% during the forecast period. High number of millennials and nuclear families along with increasing disposable income is anticipated to positively impact the consumption of single use expanded polystyrene (EPS) containers provided by food outlets and takeaway stations. These factors are expected to significantly drive the EPS market.
In addition, innovation in automotive sector including light weight and fuel efficient car manufacturing is anticipated to propel to the demand for expanded polystyrene over the forecast period. The demand for EPS in packaging industry is projected to expand at a CAGR of 4.9% from 2020 to 2027. High rate of manufacturing capabilities across developing nations, rising exports, and future growth in high rate of e-commerce business are some of the factors projected to continue driving the demand for packaging products over the next nine years, which in turn is anticipated to fuel the EPS market.
Key market players include BASF SE; SABIC, DOW Inc.; NOVA Chemicals Corporation; Total; Versalis S.P.A.; Unipol Holland BV; Ravago; Alpek S.A.B. De Cv; Styrochem; Sundolitt Ltd; Synthos; Sunpor Kunststoff GMBH; KANEKA CORPORATION; and ACH Foam Technologies, Inc.
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https://www.grandviewresearch.com/industry-analysis/expanded-polystyrene-eps-market/request/rs4
The rise in inward migration in regions like Europe and North America will eventually increase the rate of residence complexes aided by employment and spending capabilities among consumers, which will surge the growth of construction sector as well as fuel the demand for expanded polystyrene over the projected period. Rising awareness regarding green building and encouragement from governments for its adoption is anticipated to fuel the demand for EPS in the forthcoming years.
Further key findings from the repot suggest:
  • Demand for EPS in North America will surge in accordance with growth in automotive and packaging sector. Mature markets such as U.S. have expanding client request, greater interest in terms of innovations, as well as implementation of designs, which is anticipated to further drive the growth
  • Middle East and Africa is expected to witness significant rise in demand with rising focus on exports of apparels, citrus fruits, foodstuffs, electronic equipment, and jewelry
  • White EPS demand will increase over the projected period as emerging markets are investing on developing manufacturing and packaging plants for global and domestic trade
  • Grey EPS is set to witness a CAGR of 4.5% from 2020 to 2027 in terms of revenue on account of its application in construction of residential buildings. The properties of insulation derived from graphite mixed expanded polystyrene is a key driver for its growth
  • Some of the key players operating in the expanded polystyrene market are BASF, SABIC, DOW chemicals, NOVA Chemicals, TOTAL SA, Versalis S.P.A., Unipol Holland BV, Ravago group, Alpek S.A.B. De Cv, Styrochem, Brodr Sunde group, Synthos SA, Sunpor Kunststoff GMBH, Kaneka Corporation, and ACH foam technologies
Growing demand for cold chain packaging solutions in the pharmaceutical sector as a tool for improving product safety and keeping the freshness of packaged food fresh during transportation is expected to remain a key driving factor. Furthermore, development of the frozen food industry of major economies including U.S. and Japan is projected to expand the scope of EPS in packaging sector in near future.
Over the past few years, population growth and urbanization in emerging markets including Brazil, India, and China have resulted in national governments for increasing the spending on improving to the manufacturing sector of packaging, construction and automotive industries.
Rising popularity of lightweight polymer foam in automotive ancillaries manufacturing as a result of ensuring the comfort to drivers is expected to fuel the demand for advanced materials. The recovery of automotive manufacturing sector in U.S., Japan, Germany, and India as a result of increased sales volumes of four wheelers is expected to drive the market for expanded polystyrene in the forthcoming years.
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White EPS accounted for 58.49% market share in terms of volume in 2020. The product segment is expected to witness significant rise in demand form packaging sector on account of exhibiting excellent properties including water resistance and superior mechanical durability.
Grey EPS is projected to expand at a CAGR of 4.4% from 2020 to 2027. These products are expected to witness growth on account of providing excellent insulation properties. However, the high price of grey products as compared to other polymers including silicone and polyurethane is expected to have an adverse impact.
Grand View Research has segmented the global expanded polystyrene market on the basis of product, application:
Expanded Polystyrene Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
  • White
  • Grey
Expanded Polystyrene Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
  • Construction
  • Packaging
  • Automotive
  • Others
The automotive industry is projected to expand at a volume-based CAGR of 4.6% from 2020 to 2027. Extensive requirements for EPS for ensuring vehicles to be lightweight, inline safe for passengers, as well as reducing weight and making fuel efficient is expected to have a substantial impact over the forecast period.
The construction industry is projected to account for 22.51% of volume share by the end of 2027. The growth of the construction industry in China and India as a result of the inclusion of infrastructure development in 13th five-year plans is projected to play a significant role in driving the usage of polystyrene products in these regions, over the forecast period.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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