The Expanded Polystyrene market is projected to grow at a CAGR of 5.2% to reach USD 17.7 billion by 2026 from 12.4 billion in 2019. Increasing consumption and demand from end-user industries such as construction has significantly contributed to the growth of this market. Growth of the construction industry in the residential and commercial sector, primarily in the Asia Pacific, in order to meet the demand for housing from the rapidly growing population and has also led to a demand for Expanded and improved thermal insulation. Apart from the construction industry the expanded Polystyrene also finds applications in the automotive, furnishing, packaging industries.
The research report analyses the ecosystem of Expanded Polystyrene and categorizes the Expanded Polystyrene Market to forecast the revenues and analyse the trends in each of the following below-mentioned market segments.
The unique insights provided by this report also includes the following:
In terms of product type, the white Expanded Polystyrene segment is estimated to be the largest segment during the forecast period
In terms of product type, the global Expanded Polystyrene market can be segmented into white, Black, and grey types. The white Expanded Polystyrene segment of the Expanded Polystyrene market is projected to be the largest market. The growing application of white Expanded Polystyrene in construction and packaging has led to a growing market. White EPS also finds applications in food packaging, furniture, sports helmets, and automobiles. The growth of the foodservice and restaurant industry and the demand for improved food packaging is driving the demand for white expanded polystyrene in the food packaging sector.
By Application, the construction application is expected to be the largest segment
The construction application segment dominated the expanded polystyrene market in terms of revenue in 2019. It is also the fastest-growing segment in terms of CAGR. The expanded polystyrene is increasingly being used in construction applications on account of its beneficial properties which include excellent thermal insulation, lightness, chemical inertness, and bacterial and pest resistance. It also assists in improving the design and structural integrity of buildings. It improves energy efficiency and is thus preferred in green buildings.
The Asia Pacific is expected to be the largest segment in the forecast period
The Asia Pacific accounted for the largest share of the Expanded Polystyrene market. While Europe is expected to be the second-largest market. The North America region is also projected to witness a higher product demand in the coming years on account of increasing consumption in end-user industries. The demand in the Asia Pacific region is primarily driven on account of demand from end-user industries such as construction, packaging, and automotive. The construction industry in the Asia Pacific region is growing on account of rising urbanization, rising disposable income, and government initiatives, and residential and commercial construction projects. Key Expanded Polystyrene markets in Asia- Pacific include China, Japan, India, South Korea, Thailand, and Indonesia.
Expanded Polystyrene Market Drivers:
Expanded Polystyrene Market Restraints
Expanded Polystyrene Market Opportunities
Expanded Polystyrene Market Challenges
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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