The global EPS market was valued at 7,993.5 kilotonnes in 2018 and is predicted to reach 10,065.4 kilotonnes by 2025, with a CAGR of 4.8% between 2020 and 2025. The market boom is credited to the developing building and construction industry across the world as it is the largest consumer of EPS. The closed cell structure of the expanded polystyrene offers low vapor permanence and minimal water absorption. Molded EPS undergoes numerous tests including density, strength, flammability, and porosity. Expanded Polystyrene (EPS) is a kind of plastic foam that has various desirable functions because of its structure. Expanded polystyrene is not biodegradable, but it is the inert chemical that makes it a stable filler material and allows for safe and sanitary disposal. Expanded polystyrene insulation products greatly reduce the energy requirements to cool and heat any structure when applied. It reduces costs and offers a versatile application option and reduces carbon footprint structures. Foaming plastics were previously employed in floating and insulating devices for boats, life jackets, and buoys.
EPS is employed in several places of building works, involving huge structures. The features of EPS make it perfect for employment as a lightweight plaster, insulation, as a decoration element, as a light filler material on roads to augment soil drainage, etc. The perfect combination of mechanical and physical properties makes it ideal for use in the construction industry. In addition to that, EPS is the perfect composite for packaging as it is light in weight, non-abrasive, waterproof and has very good cushioning capacity.
Recent Developments and Trends
A chemical firm, Versalis and also an integrated producer of styrenic polymers whose owner is Eni, has created and introduced an innovative kind of expandable polystyrene (EPS). This material offers the industry the opportunity to increase sustainable products in sectors such as food packaging, industrial packaging and others.
BEWiSynbra which is one of the dominating producers of expandable polystyrene (EPS) in European region, is continuously working to enhance and decrease the environmental effect of its goods..
Expanded Polystyrene (EPS) Market Drivers
EPS is widely employed in the construction industry due to its low thermal conductivity in closed air, lightness (ease of handling), mechanical resistance (insulation in the structure of walls and roofs and floors), its low water absorption (for avoiding humidity) and its resistance to noise (in offices and bedrooms). EPS offers tangible environmental benefits that maximize energy efficiency, improve the quality of the indoor environment, and improve the sustainability of buildings and packaged products.
While the price of crude oil will not affect the final price of EPS to any great extent, in the future any volatility in the price of EPS may affect the profitability of styrene producers. Due to fluctuations in crude oil prices, styrene producers such as Royal Dutch Shell (Netherlands), The Dow Chemical Company (USA) and LyondellBasell Industries NV (Netherlands) are investing more and more in the R&D to reduce investments and reduce operating costs to improve your margins. Crude oil prices and growing call are predicted to increase EPS prices in the near future.
The EPS employed in the insulation and packaging is non-toxic and inert and is manufactured without chlorofluorocarbons (CFCs). It has less impact on the environment than other competing materials. However, it is nearly indestructible and discarded EPS does not biodegrade for hundreds of years. It is also resistant to photolysis. Previously, EPS waste was dumped in landfills, but this trend is changing and recycling of EPS post-consumer and post-market has escalated. New applications drive recycling profits, with advancements in recycling technology, integrated chain management principles, and collaborative collection programs.
In some large economies, such as the United States (New York), EPS products have been banned. EPS cups cannot be recycled because they are already expanded and to produce these cups they need blank polystyrene beads. Since EPS materials are not biodegradable, some consumers do not prefer single-use (throwaway) EPS coffee cups. There are some exceptions, such as EPS containers employed for pre-packaged foods that are filled and sealed before the foodservice establishment receives them; mobile food store; and containers employed to store raw meat, pork, fish, shellfish, or poultry sold in a butcher's box or similar appliance are still in use.
Expanded Polystyrene (EPS) Market Segmentation:
By product type:
Although white EPS is the most important product type, grey EPS is predicted to increase at a faster rate during the foreseen period. This expansion is attributed to the high consumption of grey EPS in the building and construction industry due to its better thermal insulation properties.
By end use industry:
Building and construction is the largest and fastest growing EPS end-use industry. EPS has ideal physical and mechanical properties for most insulation needs. It is an excellent design element, an ideal choice for green building, offers tangible environmental benefits that can maximize energy efficiency, improve indoor environmental quality and increase sustainability.
Expanded Polystyrene (EPS) Regional Analysis:
The Expanded Polystyrene (EPS) Report includes the segmentation of Regions with their respective Countries.
APAC has become the leading consumer and producer of EPS due to escalating household call and rising income levels. The easy availability of low-cost labor and cheap and accessible raw materials increases production in the region, thus stimulating foreign investment. Government proposals to improve public infrastructure and escalated cash-intensive non-residential construction are having a positive impact on market expansion. Asia-Pacific was the largest contributor to income in 2018. Asia-Pacific has become the core region and producer of EPS due to growing interest from households. EPS adoption is predicted to increase in Asia-Pacific over the next five years due to various ongoing and future construction and development projects.
North America is predicted to see substantial expansion due to the high adoption of EPS in construction applications. The Middle East and Africa are also predicted to show promising expansion during the foreseen period. The growing exports of electronic equipment fueled the expansion of the expanded polystyrene market in this region. Europe is likely to grow at a high CAGR during the foreseen period, due to the call for thermal insulation for floors and ceilings to reduce internal temperature and carbon footprint will stimulate the regional expanded polystyrene market.
NOVA Chemical Corporation occupies the highest market share in the expanded polystyrene market due to its market-driven strategies. The market dominance of these firms is characterized by their broad product portfolio and high investment in R&D activities for expanded polystyrene, revenue, capital expenditures, employee strength, and geographic presence of firms.
The expanded polystyrene industry is dominated by different makers like Alpek, S.A.B. de C.V., Arkema S.A., BASF SE, Evonik Industries AG, Kaneka Corporation, LG Corporation (LG Corp), NOVA Chemical Corporation, SABIC, Styrochem, and TOTAL S.A. Among these, BASF SE, Evonik Industries AG, Kaneka Corporation, LG Corporation (LG Corp), and NOVA Chemical Corporation.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.6 Y-o-Y Growth Analysis, By Product
5.1.7 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
5.3.2 North America
5.3.4 Asia Pacific
5.3.5 Central & South America
5.3.7 Y-o-Y Growth Analysis, By Expanded Polystyrene (EPS) Market
5.3.8 Market Attractiveness Analysis, By Expanded Polystyrene (EPS) Market
5.3.9 Market Share Analysis, By Expanded Polystyrene (EPS) Market
5.4 Segment Forecasts
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By Application
126.96.36.199 By Region
188.8.131.52 Segment Forecasts
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Application
18.104.22.168 By Product Type
22.214.171.124 By Region
126.96.36.199 Segment Forecasts
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Application
220.127.116.11 By Product Type
18.104.22.168 By Region
22.214.171.124 Segment Forecasts
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Exxon Mobil Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Wuxi Xingda
8.6 SUNPOR KUNSTSTOFF
8.7 The Ravago Group
8.10 Nova Chemicals
8.11 Flint Hills Resources
8.12 PJSC SIBUR HOLDING
8.13 Saudi Basic Industries Corporation (SABIC)
8.14 Kaneka Corporation
8.15 Atlas Roofing Corporation
8.16 BEWiSynbra Group
8.17 Brodr. Sunde A/S
8.18 Nexkemia Petrochemicals
8.19 Unipol Holland
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures