Polystyrene (PS) And Expanded Polystyrene (EPS) Market Report
Polystyrene (PS) & Expanded Polystyrene (EPS) Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028 See less
Polystyrene (PS) & Expanded Polystyrene (EPS) Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
Polystyrene (PS) & Expanded Polystyrene (EPS) Market is segmented By Product (Polystyrene, Expanded Polystyrene), By End-Use (Transportation, Electrical & Electronics, Construction, Consumer Goods, Food & Beverage, Packaging), and Region - COVID-19 Impact Analysis and Forecast to 2028.
The Polystyrene (PS) & Expanded Polystyrene (EPS) market is projected to grow from USD 33.79 billion in 2021 to USD 48.45 billion by 2028 at a CAGR of over 4.49% during the forecast period of 2022-2028.
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 and prevents the growth of microorganisms and exhibits superior thermal insulation.
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 the industry growth.
The COVID-19 pandemic has adversely affected the Polystyrene (PS) & Expanded Polystyrene (EPS) industry 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.
Key players operating in the Polystyrene (PS) & Expanded Polystyrene (EPS) market are-
Based on end-use, the Polystyrene (PS) & 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.
By region, the 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.
This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. 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. The following are the key features of the report:
Here is the list of the group of customers that the Polystyrene (PS) & Expanded Polystyrene (EPS) Market hopes to have the greatest opportunity to convert-
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The polystyrene (PS) and expanded polystyrene (EPS) market is expected to witness an impressive growth of 4.49% CAGR during 2022-2028.
Polystyrene (PS) & Expanded Polystyrene (EPS) market are ACH Foam Technologies (US), Flint Hills Resources, StyroChem (Canada), NOVA Chemicals (Canada), AlpekB. de C.V. (Mexico), Sunpor Kunststoff (Austria), Synbra Holding bv (Netherlands), Total SA (France), Brodr. Sunde (Norway), and Trinseo (Norway) are among the key players in the market.
The polystyrene (PS) and expanded polystyrene (EPS) market size is expected to reach USD 48.45 billion in 2028.
The packaging segment held the largest share in the market in 2021.
Asia-pacific is expected to grow at a healthy CAGR in the market in the next five years.
Polystyrene (PS) & Expanded Polystyrene (EPS) companies, Polystyrene (PS) & Expanded Polystyrene (EPS) distributors, Construction companies, Government organizations are the target audience in the market.
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