H1 2023: The Expanded Polystyrene price trajectory in North American region displayed varied pricing dynamics throughout first half of 2023. During Q1 2023, Expanded Polystyrene (EPS) experienced a decline in prices in North America region, leading to minimal fluctuations in product prices across the American market. This trend persisted throughout the remaining months of the quarter, indicating a period of low-price volatility. In March, EPS prices remained stable with a downward trajectory in the US market. The challenges of a labour shortage and supply chain disruptions in the United States contributed to this pricing scenario. The traders and suppliers had ample EPS quantities, resulting in a surplus in the market. Simultaneously, downstream inquiries decreased, impacting offtakes and production rates across US. Throughout the entire second quarter of 2023, the Expanded Polystyrene (EPS) market in the US continued to exhibit the bearish trend. In April 2023, diminished demand from the construction (insulation) and packaging sectors led to weak exports, resulting in increased inventories at ports. The US buyers remained cautious in May 2023 due to high inventories, contributing to subdued demand and sluggish trading activities. The downfall of major banks in the USA in May significantly impacted the market, discouraging buyers from placing substantial orders. In June 2023, the EPS market continued to be influenced by these factors, struggling to regain momentum. Additionally, the softening of feedstock styrene costs led to lower EPS prices.
The global Expanded Polystyrene market stood around 7200 thousand tonnes in 2022 and is expected to grow at a steady CAGR of 3.5% during the forecast period until 2032.
Expanded Polystyrene stands as a highly versatile polymer with a spectrum of applications spanning multiple industries. In the realm of building and construction, Expanded Polystyrene (EPS) stands out as a versatile material, prized for its exceptional insulation properties, chemical inertness, resistance to pests and bacteria, and minimal water absorption due to its closed-cell structure. Its robust and durable nature finds application in various construction elements, serving as insulated panel systems for facades, walls, roofs, and floors in buildings, acting as flotation material for marinas and pontoons, and contributing as a lightweight fill in road and railway construction. In food packaging, EPS showcases its adaptability by being extruded into continuous sheets and later moulded into various forms such as fruit trays through vacuum and pressure forming. Its non-nutritive composition deters the growth of microorganisms, ensuring the freshness of packaged food. EPS finds its place in packaging seafood, fruits, vegetables, and various food service containers like drink cups and clamshell containers. Notably, when employed in packaging, EPS extends the shelf life of fruits and vegetables, preserving their vitamin C content more effectively than alternative materials. In industrial packaging, EPS provides a shield of protection for delicate products during transport and handling, thanks to its shock-absorbing properties. This versatile foam is molded into customizable shapes, safeguarding items such as medical equipment, electronic components, consumer goods, toys, and horticultural products. The material's utility extends to crafting disposable foam coolers, addressing packaging density considerations for optimal cushioning in various applications.
The Expanded Polystyrene (EPS) market is driven by several factors, including its versatile applications in construction, packaging, and insulation due to its lightweight and insulating properties. Additionally, the growing demand for sustainable and energy-efficient building materials has boosted EPS usage in the construction sector. The packaging industry benefits from EPS's protective and cushioning qualities. Moreover, its cost-effectiveness, recyclability, and ease of moulding contribute to its widespread adoption. As environmental concerns rise, the recyclability and sustainability of EPS products become key drivers, aligning with global efforts toward eco-friendly solutions. The increase in the demand of Expanded Polystyrene from various sectors is likely to make it reach nearly 10150 thousand tonnes by 2032.
Based on region, Asia Pacific region is the leading consumer of Expanded Polystyrene all across the globe and is likely to retain its position in the upcoming years. The Asia Pacific region is anticipated to emerge as a prominent player in the Expanded Polystyrene (EPS) market, driven by dynamic factors across multiple sectors. In the construction industry, the demand for energy-efficient building materials has propelled the adoption of EPS for insulation in facades, walls, roofs, and floors. The region's robust economic growth and ongoing urbanization further fuel this demand, making it a key contributor to the EPS market's expansion. Additionally, the flourishing food packaging sector in Asia Pacific, driven by a growing middle-class population and shifting consumer preferences, boosts the usage of EPS for preserving and transporting foodstuffs. In the industrial realm, EPS's lightweight and shock-absorbing properties make it an ideal choice for safeguarding delicate products during transportation and handling, aligning with the region's thriving industrial activities.
Based on the end-user industry, the global Expanded Polystyrene market is segmented into Building & Construction, Packaging, Automotive, and Others. Among these, Building & Construction sector is dominating as a consumer, with a market share of roughly 42% of the total demand in 2022. EPS finds extensive application in structures like walls, roofs, and floors, where its compressive strength can be customized for particular systems, including beam and block construction, underfloor heating systems, and beneath concrete floor slabs. It is also designated for void filling and, at elevated densities, serves as a foundation for road or rail embankments, particularly in situations where conventional fill materials are excessively heavy.
Significant players in the Global Expanded Polystyrene market are BASF SE, Atlas Roofing Corp., Alpek S.A.B. de C.V., Kaneka Corp., SIBUR Holding PJSC, BEWI, SUNPOR, Synthos, TotalEnergies, Flint Hills Resources, NOVA Chemicals Corporate, StyroChem, Ravago Manufacturing, UNIPOL, Versalis S.p.A., SABIC, Sundolitt Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Expanded Polystyrene which covers production, demand and supply of Expanded Polystyrene market in the globe.
• To analyse and forecast the market size of Expanded Polystyrene
• To classify and forecast Global Expanded Polystyrene market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Expanded Polystyrene market in the globe.
To extract data for Global Expanded Polystyrene market, primary research surveys were conducted with Expanded Polystyrene suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Expanded Polystyrene market over the coming years.
ChemAnalyst calculated Expanded Polystyrene demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Expanded Polystyrene across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Expanded Polystyrene manufacturers and other stakeholders
• Organizations, forums and alliances related to Expanded Polystyrene distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Expanded Polystyrene customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Expanded Polystyrene s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
7200 thousand tonnes
Market size Volume by 2032
10150 thousand tonnes
Growth Rate
CAGR of 3.5% from 2023 to 2032
Base year
2022
Estimated year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Building & Construction, Packaging, Automotive, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Expanded Polystyrene market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential and their current and future operation capacity on a practically real-time basis for Expanded Polystyrene.
3. Capacity By Location
To better understand the regional supply of Expanded Polystyrene by analyzing location-based capacity.
4. Plant Operating Efficiency
To determine what percentage are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Expanded Polystyrene by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Building & Construction, Packaging, Automotive, and Others) are creating a market and the forecast for the growth of the Expanded Polystyrene market.
7. Demand by Region
Analyzing the change in demand of Expanded Polystyrene in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Expanded Polystyrene. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Expanded Polystyrene.
10. Company Share
Figure out what proportion of the market share of Expanded Polystyrene is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Expanded Polystyrene.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected global market size of Expanded Polystyrene in terms of volume for 2032?
Ans:
The global market size of Expanded Polystyrene is expected to reach approximately 10150 thousand tonnes by 2032, and it is expected to further expand with a CAGR of 3.5%.
Q2.
What are the major end-use industries of Expanded Polystyrene?
Ans:
Expanded Polystyrene is used in a wide range of end use industries including Building & Construction, Packaging, Automotive, and Others.
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