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Global Expanded Polystyrene Market Size – By Product Type (White, Grey and Black), By Application (Construction, Packaging, Automotive, and Others), & Region – Global Forecasts 2024 - 2034

  • PUBLISHED ON
  • 2024-06-28
  • NO OF PAGES
  • 220
  • CATEGORY
  • Chemicals & Materials

Market Overview

The Expanded Polystyrene market is predicted to develop at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2034, when it is projected to reach USD 21,538.65 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 11,538.37 Million in 2024.


SOURCE: We Market Research

The global Expanded Polystyrene (Expanded Polystyrene) market refers to the industry involved in the production, distribution, and consumption of expanded polystyrene, a lightweight, rigid plastic foam widely used for various applications. Expanded Polystyrene is derived from polystyrene resin through a process that involves expanding small plastic beads using steam or a blowing agent, resulting in a versatile material with excellent insulation properties, low weight, and structural integrity. Key applications of Expanded Polystyrene include packaging, construction (insulation boards, lightweight fill materials), automotive components, and consumer goods. The market encompasses manufacturers, suppliers, distributors, and end-users across different regions worldwide. The Expanded Polystyrene market has seen steady growth, driven by increasing demand in packaging, construction, and automotive sectors.

The global Expanded Polystyrene market continues to evolve with innovations in materials and applications, responding to the growing demand for lightweight, energy-efficient, and environmentally sustainable solutions across various industries.

Market Scope

Report Attributes

Description

Market Size in 2024

USD 11,538.37 Million

Market Forecast in 2034

USD 21,538.65 Million

CAGR % 2024-2034

8.5%

Base Year

2023

Historic Data

2016-2022

Forecast Period

2024-2034

Report USP

 

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

By Product Type, By Application and By Region

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

 

Expanded Polystyrene Industry: Dynamics & Restrains


 Market opportunity:


 We Market Research: Expanded Polystyrene Dashboard

Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.


Expanded Polystyrene Segmentation

Market- By Product Type Analysis

By Product Type, the Expanded Polystyrene market is categories into white, gray and black. White Expanded Polystyrene segments dominate the market with the largest share, accounting for over 78% of the market in 2023. White Expanded Polystyrene is the most commonly used type and accounts for a significant portion of the Expanded Polystyrene market. It is widely used in packaging, construction, and insulation due to its lightweight, thermal insulation properties, and versatility.



The following segments are part of an in-depth analysis of the global Expanded Polystyrene market:

Market Segments

By  Product Type

·         White

·         Grey

·         Black

By  Application

·         Construction

·         Packaging

·         Automotive

·         Others

 

Expanded Polystyrene Industry: Regional Analysis

Asia Pacific Market Forecast

Asia Pacific dominates the global Expanded Polystyrene market, accounting for around 41% of the market share in 2023. The market in Asia Pacific driven by rapid urbanization, infrastructure development, and industrial growth in countries such as China, India, and Southeast Asian nations. Urbanization, increasing construction activities, expanding middle-class population, and rising disposable incomes driving demand for Expanded Polystyrene in packaging and construction.

 

Europe Market Statistics

Europe is a mature market for Expanded Polystyrene, with countries like Germany, France, and the UK leading in consumption. The region emphasizes sustainable building practices and has a strong packaging industry.

North America Market Forecasts

North America holds a significant share in the global Expanded Polystyrene market. The United States and Canada are major consumers, driven by demand in packaging, construction, and insulation applications.

Middle East & Africa Market Statistics

MEA region exhibits moderate growth in the Expanded Polystyrene market. Countries like UAE, Saudi Arabia, and South Africa are investing in infrastructure projects, boosting demand for thermal insulation materials like Expanded Polystyrene.

Key Market Players

The Expanded Polystyrene Market is dominated by a few large companies, such as

·         BASF SE

·         Synthos S.A.

·         TotalEnergies SE

·         Kaneka Corporation

·         Saudi Basic Industries Corporation (SABIC)

·         Alpek SAB de CV

·         Flint Hills Resources

·         Sunpor Kunststoff GmbH

·         PJSC SIBUR Holding

·         Nova Chemicals Corporation

·         Other

1.      Global Expanded Polystyrene Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Expanded Polystyrene Market Scope and Market Estimation

1.2.1. Global Expanded Polystyrene Overall Market Size (US$ Bn) and Volume (Tons), Market CAGR (%), Market forecast (2024 - 2034)

1.2.2. Global Expanded Polystyrene Market Revenue Share (%) and Volume Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034

1.3.    Market Segmentation

1.3.1. Product Type of Global Expanded Polystyrene Market

1.3.2. Application of Global Expanded Polystyrene Market

1.3.3. Region of Global Expanded Polystyrene Market

2.      Executive Summary

2.1.    Demand Side Trends

2.2.    Key Market Trends

2.3.    Market Demand (US$ Bn) Analysis 2019 – 2023 and Forecast, 2024 – 2034

2.4.    Demand and Opportunity Assessment

2.5.    Market Dynamics

2.5.1. Drivers

2.5.2. Limitations

2.5.3. Opportunities

2.5.4. Impact Analysis of Drivers and Restraints

2.6.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.7.    Cost Tear Down Analysis

2.8.    Key Developments

2.9.    Porter’s Five Forces Analysis

2.9.1. Bargaining Power of Suppliers

2.9.2. Bargaining Power of Buyers

2.9.3. Threat of Substitutes

2.9.4. Threat of New Entrants

2.9.5. Competitive Rivalry

2.10.  PEST Analysis

2.10.1.   Political Factors

2.10.2.   Economic Factors

2.10.3.   Social Factors

2.10.4.   Technology Factors

2.11.  Value Chain / Ecosystem Analysis

2.12.  Key Regulation

2.13.  Production Process Overview

3.      Global Expanded Polystyrene Market Estimates & Historical Trend Analysis (2019 - 2023)

4.      Global Expanded Polystyrene Market Estimates & Forecast Trend Analysis, by Product Type

4.1.    Global Expanded Polystyrene Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Product Type, 2019 - 2034

4.1.1. White

4.1.2. Grey

4.1.3. Black

5.      Global Expanded Polystyrene Market Estimates & Forecast Trend Analysis, by Application

5.1.    Global Expanded Polystyrene Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Application, 2019 - 2034

5.1.1. Construction

5.1.2. Packaging

5.1.3. Automotive

5.1.4. Others

6.      Global Expanded Polystyrene Market Estimates & Forecast Trend Analysis, by Region

6.1.    Global Expanded Polystyrene Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Region, 2019 - 2034

6.1.1. North America

6.1.2. Western Europe

6.1.3. Eastern Europe

6.1.4. Asia Pacific

6.1.5. Middle East & Africa

6.1.6. Latin America

7.      North America Expanded Polystyrene Market: Estimates & Forecast Trend Analysis

7.1.    North America Expanded Polystyrene Market Assessments & Key Findings

7.1.1. North America Expanded Polystyrene Market Introduction

7.1.2. North America Expanded Polystyrene Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

7.1.2.1.   By Product Type

7.1.2.2.   By Application

7.1.2.3.   By Country

7.1.2.3.1.     The U.S.

7.1.2.3.2.     Canada

7.1.2.3.3.     Mexico

8.      Western Europe Expanded Polystyrene Market: Estimates & Forecast Trend Analysis

8.1.    Western Europe Expanded Polystyrene Market Assessments & Key Findings

8.1.1. Western Europe Expanded Polystyrene Market Introduction

8.1.2. Western Europe Expanded Polystyrene Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

8.1.2.1.   By Product Type

8.1.2.2.   By Application

8.1.2.3.        By Country

8.1.2.3.1.      Germany

8.1.2.3.2.      Italy

8.1.2.3.3.      U.K.

8.1.2.3.4.      France

8.1.2.3.5.      Spain

8.1.2.3.6.      Benelux

8.1.2.3.7.      Nordics

8.1.2.3.8.     Rest of W. Europe

9.      Eastern Europe Expanded Polystyrene Market: Estimates & Forecast Trend Analysis

9.1.    Eastern Europe Expanded Polystyrene Market Assessments & Key Findings

9.1.1. Eastern Europe Expanded Polystyrene Market Introduction

9.1.2. Eastern Europe Expanded Polystyrene Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

9.1.2.1.   By Product Type

9.1.2.2.   By Application

9.1.2.3.        By Country

9.1.2.3.1.      Russia

9.1.2.3.2.      Hungary

9.1.2.3.3.      Poland

9.1.2.3.4.      Balkan & Baltics

9.1.2.3.5.     Rest of E. Europe

10.  Asia Pacific Expanded Polystyrene Market: Estimates & Forecast Trend Analysis

10.1.  Asia Pacific Market Assessments & Key Findings

10.1.1.   Asia Pacific Expanded Polystyrene Market Introduction

10.1.2.   Asia Pacific Expanded Polystyrene Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

10.1.2.1.    By Product Type

10.1.2.2.    By Application

10.1.2.3.    By Country

10.1.2.3.1. China

10.1.2.3.2. Japan

10.1.2.3.3. India

10.1.2.3.4. Australia & New Zealand

10.1.2.3.5. South Korea

10.1.2.3.6. ASEAN

10.1.2.3.7. Rest of Asia Pacific

11.  Middle East & Africa Expanded Polystyrene Market: Estimates & Forecast Trend Analysis

11.1.  Middle East & Africa Market Assessments & Key Findings

11.1.1.   Middle East & Africa Expanded Polystyrene Market Introduction

11.1.2.   Middle East & Africa Expanded Polystyrene Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

11.1.2.1.    By Product Type

11.1.2.2.    By Application

11.1.2.3.    By Country

11.1.2.3.1. UAE

11.1.2.3.2. Saudi Arabia

11.1.2.3.3. Turkey

11.1.2.3.4. South Africa

11.1.2.3.5. Rest of MEA

12.  Latin America Expanded Polystyrene Market: Estimates & Forecast Trend Analysis

12.1.  Latin America Market Assessments & Key Findings

12.1.1.   Latin America Expanded Polystyrene Market Introduction

12.1.2.   Latin America Expanded Polystyrene Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

12.1.2.1.    By Product Type

12.1.2.2.    By Application

12.1.2.3.    By Country

12.1.2.3.1. Brazil

12.1.2.3.2. Argentina

12.1.2.3.3. Colombia

12.1.2.3.4. Rest of LATAM

13.  Country Wise Market: Introduction

14.  Competition Landscape

14.1.  Global Expanded Polystyrene Market Product Mapping

14.2.  Global Expanded Polystyrene Market Concentration Analysis, by Leading Players / Innovators / Emerging Players / New Entrants

14.3.  Global Expanded Polystyrene Market Tier Structure Analysis

14.4.  Global Expanded Polystyrene Market Concentration & Company Market Shares (%) Analysis, 2023

15.  Company Profiles

15.1.      BASF SE

15.1.1.   Company Overview & Key Stats

15.1.2.   Financial Performance & KPIs

15.1.3.   Product Portfolio

15.1.4.   SWOT Analysis

15.1.5.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

15.2.      Synthos S.A.

15.3.      TotalEnergies SE

15.4.      Kaneka Corporation

15.5.      Saudi Basic Industries Corporation (SABIC)

15.6.      Alpek SAB de CV

15.7.      Flint Hills Resources

15.8.      Sunpor Kunststoff GmbH

15.9.      PJSC SIBUR Holding

15.10.  Nova Chemicals Corporation

15.11.  Others

16.  Research Methodology

16.1.  External Transportations / Databases

16.2.  Internal Proprietary Database

16.3.  Primary Research

16.4.  Secondary Research

16.5.  Assumptions

16.6.  Limitations

16.7.  Report FAQs

17.  Research Findings & Conclusion

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of Expanded Polystyrene Market in 2024?

Expanded Polystyrene Market was valued at USD 11,538.37 Million in 2024.

What is the growth rate for the Expanded Polystyrene Market?

Expanded Polystyrene Market size will increase at approximate CAGR of 8.5% during the forecasted period.

Which are the top companies operating within the market?

Major companies operating within the market are BASF SE, Synthos S.A., TotalEnergies SE, Kaneka Corporation, Saudi Basic Industries Corporation (SABIC), Alpek SAB de CV, Flint Hills Resources, Sunpor Kunststoff GmbH, PJSC SIBUR Holding, Nova Chemicals Corporation and others.

Which region dominates the Expanded Polystyrene Market?

Asia Pacific dominates the market with an active share of 41%.

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