Expanded Polystyrene Market Size Worth $22.26 Billion By 2032 | CAGR: 8.30%

The global expanded polystyrene market size is expected to reach USD 22.26 Billion by 2032, according to a new study by Polaris Market Research. The report “Expanded Polystyrene Market Share, Size, Trends, Industry Analysis Report, By Product (White Expanded Polystyrene, Grey Expanded Polystyrene, Black Expanded Polystyrene); By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Expanded Polystyrene (EPS) is a buoyant foam plastic material produced by heating and then solidifying solid polystyrene beads. This process involves subjecting the initial polystyrene material to elevated temperatures, leading to its expansion and transformation into the desired shape. The resulting expanded polystyrene boasts an impressive forty-fivefold increase in volume when compared to the original polystyrene granules.

The Expanded Polystyrene Market is growing rapidly due to a number of factors. The building and construction industry, in particular, has a rising demand for Expanded Polystyrene (EPS) materials. This is because Expanded Polystyrene foam provides excellent insulation, is long-lasting, and cost-effective. It is commonly used in the construction of roofs, walls, and floors for both commercial and residential buildings due to its exceptional thermal insulation, moisture resistance, and soundproofing properties.

The packaging industry is witnessing a growing demand for Expanded Polystyrene (EPS) materials, driven by their lightweight cost-effectiveness, nature, and excellent insulating properties. EPS foam is extensively utilized in packaging numerous consumer products, including electronics, appliances, and Food and beverages (F&B), because of its ability to absorb shocks and provide protection against damage during transportation.

COVID-19 pandemic affected Expanded Polystyrene Market. Supply chain disruption & reduced demand in construction and food service sectors. Healthcare industry highlighted the importance of Expanded Polystyrene in medical packaging, protective equipment, and vaccine containers. EPS is used in the production of medical packaging, including protective equipment, insulated containers for vaccines, and diagnostic equipment. The increased demand for medical supplies and the need for temperature-sensitive vaccine distribution provided a temporary boost to the Expanded Polystyrene market.

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Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective coronary stent devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for coronary stents throughout the forecast period.

Expanded Polystyrene Market Report Highlights

• In 2022, the White Expanded Polystyrene segment held the largest revenue share in the Expanded Polystyrene Market due to the growing need for its products in diverse packaging applications, encompassing food packaging (including drink cups, food trays, and clamshell containers), electronics, and consumer goods packaging, among others. Furthermore, white Expanded Polystyrene finds utility across various other sectors, including furniture, sports helmets, construction materials, and automotive components. Additionally, the expansion of the food service industry and the growing demand for high-quality packaged foods are expected to be key drivers of growth in this particular segment.
• The Grey Expanded Polystyrene segment accounted for the fastest growth during the forecast period. Due to the increasing adoption of gray Expanded Polystyrene (EPS) as an insulation material in construction projects, driven by the growing emphasis on eco-friendly and sustainable construction practices, there has been a notable surge in demand. Similarly, the electronics industry has witnessed a rising need for efficient packaging solutions. This heightened demand is a direct result of the critical importance of properly packaging electronic devices for their secure transport and storage. Consequently, the Grey Expandable Polystyrene market has experienced substantial expansion. Furthermore, the integration of Grey Expandable Polystyrene within the Heating, Ventilation, Refrigeration, and Air-Conditioning (HVAC) sector has made a significant contribution to the overall revenue growth of this industry segment.
• In 2022, Asia-Pacific dominated the market owing to the demand for products in crucial sectors such as construction, packaging, and automotive is increasing in emerging economies like China and India. This growth can be attributed to several factors, including the rise in urban populations, higher disposable incomes, and government initiatives such as "Housing for All" in India. The Asia Pacific region is experiencing a significant surge in the construction industry due to these factors. China is one of the world's fastest-growing economies and is expected to receive a significant boost in the projected period. This growth is driven by an escalation in infrastructure development initiatives and a growing packaging sector.
• The North America region accounted for the fastest growth in the Expanded Polystyrene Market due to the rising product demand from the construction and packaging industries in the United States. The demand for packaging products in the United States has been strong across various end-user industries, including consumer goods, retail, food, and medicines.
• The global key market players include Alpek, Atlas Roofing Corporation, BASF SE, BEWiSynbra Group, Flint Hills Resources, Jablite Group, Kaneka Corporation, Kingspan Group, Nova Chemicals, PJSC SIBUR HOLDING, Saudi Basic Industries Corporation, SUNPOR KUNSTSTOFF, Synthos, The Ravago Group, TOTAL SE, VERSALIS, and Wuxi Xingda.

Polaris Market Research has segmented the coronary stent market report based on product, application end-use, and region:

Expanded Polystyrene, Product Outlook (Revenue – USD Billion, 2019 - 2032)

• White Expanded Polystyrene
• Grey Expanded Polystyrene
• Black Expanded Polystyrene

Expanded Polystyrene, Application Outlook (Revenue – USD Billion, 2019 - 2032)

• Packaging
• Foaming
• Insulation

Expanded Polystyrene, End-Use Outlook (Revenue – USD Billion, 2019 - 2032)

• Electronics
• Automotive
• Construction
• Food and Beverages
• Consumer Goods
• Others

Coronary Stent, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Expanded Polystyrene Market Report Scope