Rising demand for expanded polystyrene in the construction industry and increasing adoption of expanded polystyrene for the packaging of electronic products are some key factors driving market revenue growth
The global EPS Market size is expected to reach USD 14.88 Billion in 2030 and register a revenue CAGR of 4.6% over the forecast period, according to a latest report by Reports and Data. Rising demand for expanded polystyrene in the construction industry and increasing adoption of expanded polystyrene for electronic packaging products are expected to drive market revenue growth during the forecast period. Increasing adoption of expanded polystyrene for its decorative and imaginative appearance is expected to boost the growth of the expanded polystyrene market in the near future
However, concerns regarding environmental sustainability and health complications are some factors that could hamper the revenue growth of the market during the forecast period. Disposal of expanded polystyrene is hazardous to the environment as it does not break down and is often burned to be disposed of. The burning of expanded polystyrene could release styrene gas into the air and produce toxic chemicals that impair the nervous system. This could lead to concerns regarding environmental sustainability and health complications, which is expected to restrain the revenue growth of the market.
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Top Key Players: Arkema S.A, Alpek, S.A.B de C.V, S.A.B de C.V, BASF SE, Evonik Industries AG, Styro Limited, Kaneka Corporation, Nova Chemical Corporation, Saudi Basic Industries Corporation, TotalEnergies SE, and Epsilyte LLC.
Key Companies In The Market Include:
- Packaging Segment Is Expected To Account For Larger Share Of Revenue Over The Forecast Period. Increasing Need For The Proper Packaging Of Consumer Goods To Protect Their Content From Any Damage During Transportation, Handling, And Storage Is Expected To Boost The Revenue Growth Of The Segment. Increasing Usage Of Expanded Polystyrene Due To Its Wide Application Across Several Industries Such As Electronics, Foods, And Beverages For Effective Packaging Is Another Factor Expected To Drive The Segment Growth.
- Construction Segment Is Expected To Account For Largest Revenue Share In The Global EPS Market Between 2023 And 2030. Increasing Demand For Expanded Polystyrene For Insulation Purposes In The Construction Industry Is Driving Revenue Growth In The Segment. Increasing Demand For Expanded Polystyrene For The Flooring And Roof Construction Of Residential And Commercial Buildings Is Another Factor. This Is Expected To Drive The Revenue Growth Of The Segment.
- Asia Pacific EPS Market Is Expected To Account For Largest Revenue Share In The Global Market Over The Forecast Period. Rapid Growth Of The Packaging And Construction Industries In The Countries In The Region Is Expected To Drive Market Revenue Growth.
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Market Segmentation:
Product Type Outlook (Revenue, USD Billion; Volume; Kilo Tons; 2019-2030)
- White EPS
- Grey EPS
- Black EPS
Application Outlook (Revenue, USD Billion; Volume; Kilo Tons; 2019-2030)
- Packaging
- Insulation
- Foaming
- Component Manufacturing
- Chemical Intermediate
End-Use Outlook (Revenue, USD Billion; Volume; Kilo Tons; 2019-2030)
- Electronics
- Construction
- Automotive
- Consumer Goods
- Foods & Beverages
- Others
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Key Questions Covered In The Global EPS Market Report:
- What Is The Expected Market Size Of The Global EPS Market During The Forecast Period?
- What Factors Are Expected To Hamper Global EPS Market Growth Over The Forecast Period?
- Which Application Segment Is Expected To Dominate Other Application Segments Over The Forecast Period?
- Which Region Is Expected To Dominate In Terms Of Revenue During The Forecast Period?
- What Are The Key Outcomes Of Porter’s Five Forces Analysis And SWOT Analysis?
- Which Leading Players Are Operating In The Global EPS Market?
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