Polystyrene (PS) and Expanded Polystyrene (EPS) Market Analysis | 2022-2028

Market Insights

“The Polystyrene (PS) and Expanded Polystyrene (EPS) Market was estimated at US$ 33.79 billion in 2021 and is expected to grow at a CAGR of 4.49% during 2022-2028 to reach US$ 48.45 billion by 2028.”

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Market Dynamics

Introduction

Polystyrene (PS) is referred to as a synthetic aromatic polymer that is obtained from a styrene monomer. This polymer softens on heating and hence can be easily converted into semi-finished products, such as films, sheets, and finished articles.

Expanded Polystyrene (EPS) is a rigid plastic, and it consists of an expansion agent. It is 100% recyclable, prevents the growth of microorganisms, and exhibits superior thermal insulation.

Market Drivers

Growing demand for innovative and designed electrical appliances equipped with improved functionalities is likely to boost the usage of PS and EPS in the electronics sector in the coming years. Also, expanding the construction industry which is a significant consumer of EPS further augments the market growth. However, fluctuating raw material prices and the availability of high-performance substitutes are expected to hamper industry growth.

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COVID-19 Impact

The COVID-19 pandemic has adversely affected the Polystyrene (PS) and Expanded Polystyrene (EPS) industries because of the shutdown of production activities in the construction and polymer industries. Moreover, supply chain disruption and restricted transportation further affected the market growth, amid the pandemic.

Segments Analysis

By End-Use Type

“Packaging segment dominates the market during the forecast period.”

The Polystyrene (PS) and Expanded Polystyrene (EPS) market has been classified into transportation, electrical & electronics, construction, consumer goods, food & beverage, and packaging. Under these, the packaging segment held a substantial market share in 2021 and is likely to grow at a considered CAGR during the forecast period.

PS and EPS are extensively used in the packaging of electronic appliances, food, retail, and consumer goods, due to their lightweight properties and excellent insulation & weather resistance properties, thereby bolstering the segment growth.

Regional Analysis

“Asia-Pacific held the major market share of nearly 45% in 2021 and is projected to grow at a healthy CAGR in the coming years.”

This growth is mainly ascribed to a strong presence of product manufacturers, strong automobile production, expanding construction industry growth, cheap labor availability, and easy access to raw materials. Also, the packaging and e-commerce sectors are booming thus offering lucrative opportunities to the market players in the region.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.  Most of the major players are providing both lead-acid and lithium-ion batteries in their portfolio.

The following are the key players in the polystyrene (PS) and expanded polystyrene (EPS) market (arranged alphabetically).

• ACH Foam Technologies (US)
• AlpekB. de C.V. (Mexico)
• Brodr. Sunde (Norway)
• Flint Hills Resources
• NOVA Chemicals (Canada)
• StyroChem (Canada)
• Sunpor Kunststoff (Austria)
• Synbra Holding bv (Netherlands)
• Total SA (France)
• Trinseo (Norway)

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

Here is the list of the group of customers that the Polystyrene (PS) and Expanded Polystyrene (EPS) Market hopes to have the greatest opportunity to convert-

• Polystyrene (PS) & Expanded Polystyrene (EPS) Companies
• Polystyrene (PS) & Expanded Polystyrene (EPS) Distributors
• Construction companies
• Government organizations

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com