Demand For White Expanded Polystyrene Is Projected To Accelerate At A CAGR Of 4% By 2031

Chemical & Materials

As per Fact.MR – a market research and competitive intelligence provider, the global expanded polystyrene (EPS) market was valued at around US$ 16 Bn in 2020, and is predicted to expand at a CAGR of 5% over the 2021-2031 forecast period.

Expanded polystyrene is a lightweight chemical polymer manufactured by using polystyrene beads. This polymer is versatile in nature, provides excellent resistance and durability, and is an effective moisture-resisting polymer.

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Key Takeaways from Market Study

  • Global expanded polystyrene market to top US$ 20 Bn by 2031.
  • Construction industry projected to account around US$ 7 Bn by 2031.
  • Demand from packaging industry to record above 3% CAGR over next 10 years.
  • Market in Japan to record 2% CAGR over forecast period of 2021- 2031.
  • China forecast to reach projected market size above US$ 5 Bn by 2031.
  • Market in Canada projected to expand at above 3% CAGR over next 10 years.

“Leading players are engaged in expanding their production capacity of expanded polystyrene and also performing R&D for enhancing the quality of products,” says a Fact.MR analyst.

Key Segments Covered in Expanded Polystyrene Industry Research

  • Product

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

    • Expanded Polystyrene For Construction
    • Expanded Polystyrene For Packaging
    • Expanded Polystyrene For Automotive

Market Competition

Majority of market players are engaged in the expansion of manufacturing facilities, mergers & acquisitions, and vertically integrating across the value chain.

These initiatives enable companies to cater to increasing global demand, ensure competitive effectiveness, enhance sales & operations planning, develop innovative products & technologies, lower production costs, and expand their customer base.

  • In November 2019, BEWiSynbra Group, one of Europe’s leading integrated producers of expandable polystyrene, and HIRSCH Servo Group, reported that they agreed to purchase six EPS insulation manufacturing sites in France, as well as 49.9% of the shares in the French company Isossol SAS, from Placoplatre SA, a subsidiary of Saint-Gobain. The acquisitions are made through HIRSCH France SAS, a newly established French company that is owned 66% by HIRSCH and 34% by BEWiSynbra.

 

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