Expanded Polystyrene Market
Report ID: SQMIG15A2508
Report ID: SQMIG15A2508
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Report ID:
SQMIG15A2508 |
Region:
Global |
Published Date: February, 2025
Pages:
195
|Tables:
64
|Figures:
71
Expanded Polystyrene Market size was valued at USD 11.79 Billion in 2024 and is poised to grow from USD 12.52 Billion in 2025 to USD 20.26 Billion by 2033, growing at a CAGR of 6.2% during the forecast period (2026–2033).
Increasing infrastructure development activity, expansion of packaging industry, extensive use of expanded polystyrene in the automotive industry, rise in demand for cold chain logistics, and advancements in recycling are some key aspects that are slated to bolster the demand for expanded polystyrene through 2032.
Boom in urbanization and industrialization on a global level has resulted in increased Infrastructure development activity. Expanded polystyrene (EPS) is widely used in the construction sector for insulation, roofing, and structural applications due to its lightweight nature, thermal insulation properties, and durability. Launch of new construction projects is estimated to create new growth opportunities.
Excellent cushioning properties and resistance to moisture have helped expanded polystyrene emerge as a primary material for packaging of fragile goods, electronics, and food products. Boom in e-commerce activity around the world coupled with high demand for protective packaging are slated to create new opportunities for expanded polystyrene suppliers focusing on the packaging industry. Surge in automotive manufacturing activity and high use of expanded polystyrene in production of car seats, interior components, and impact-resistant parts are also forecasted to bolster the global expanded polystyrene market growth going forward.
Increase in demand for cold chain logistics for pharmaceutical and food industries is also slated to offer new business scope for expanded polystyrene suppliers. Excellent thermal insulation capabilities of expanded polystyrene are helping it find extensive adoption in temperature-sensitive packaging thereby creating new revenue generation potential for market players over the coming years. On the contrary, environmental concerns regarding waste, availability of sustainable alternatives, volatile raw material pricing, limited recycling infrastructure, and flammability issues are expected to hurt demand outlook across the global expanded polystyrene market forecast and beyond.
In January 2025, The Plastics Industry Association (PLASTICS) through a collaborative effort announced the formation of the Polystyrene Recycling Alliance (PSRA). The initiative is aimed at improving polystyrene sustainability by advancing recycling efforts across the United States. The newly formed entity has also created a roadmap to guide the advancement of polystyrene recycling through collaboration with experts from Resource Recycling Systems (RRS).
Improving the recycling infrastructure for expanded polystyrene remains a key area of interest for almost all market players around the world. Launch of new efforts to promote the use of recycled expanded polystyrene is slated to offer new opportunities for expanded polystyrene suppliers in the long run. Launching new expanded polystyrene products that are in accordance with the sustainability trend can also help companies stand out from the competition. Use of sustainable manufacturing technologies and collaborations from product innovation can also offer new business scope for established as well as incoming expanded polystyrene vendors.
In April 2024, BEWI, a leading provider of insulation and packaging solutions headquartered in Norway announced the launch of new expanded polystyrene (EPS) raw material grades. The company also launched new EPS fish boxes made from Circulum Balance, the company’s novel EPS raw material grade derived from recycled feedstock and were incorporated into BEWI’s GreenLine product series. The newly launched innovative materials claimed to reduce carbon dioxide (CO₂) emissions by up to 60%.
In April 2023, Epsilyte, a renowned expanded polystyrene producer from Texas, United States announced the launch of a new expanded polystyrene product made with minimum 50% post-consumer recycled (PCR) content. 124LR is specially designed for packaging applications and was only possible through the company’s extrusion technology at its facility in Piqua, Ohio. Through this move, Epsilyte is focusing on moving towards 100% recycled products to minimize environmental impact and promote sustainability in the long run.
Market snapshot - 2026-2033
Global Market Size
USD 11.1 billion
Largest Segment
White
Fastest Growth
Grey
Growth Rate
6.2% CAGR
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Global Expanded Polystyrene Market is segmented by Product Type, Application, End-Use Industry and region. Based on Product Type, the market is segmented into White EPS, Grey EPS and Black EPS. Based on Application, the market is segmented into Construction, Packaging, Automotive and Others. Based on End-Use Industry, the market is segmented into Building & Construction, Packaging and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Product
White expanded polystyrene is slated to account for the largest global expanded polystyrene market share in the future. The lightweight and affordable nature of white expanded polystyrene allows it to maintain a dominant stance on a global level. The rapid surge in demand for different types of packaging solutions around the world and extensive use of white expanded polystyrene for the same are also further cementing the high share of this segment. Easy to mold capabilities of white expanded polystyrene are also estimated to help this segment bring in more revenue as compared to other types of expanded polystyrene products.
On the other hand, the sales of grey expanded polystyrene are estimated to rise at an impressive CAGR across the study period. Better thermal insulation properties as compared to other types of expanded polystyrene are helping promote the demand for grey expanded polystyrene. Surging demand for cost-effective and energy-efficient construction materials is also projected to offer new business scope for grey expanded polystyrene suppliers in the long run. Even though grey expanded polystyrene seems more expensive than white expanded polystyrene, the high initial costs are offset by less material usage and durability in the long term. Automotive, construction, furniture, and sports apparel are some top applications where use of grey expanded polystyrene is rising rapidly.
Analysis by Application
The construction segment is estimated to account for a substantial chunk of the global expanded polystyrene market share over the coming years. Growing demand for low cost construction materials and high adoption of sustainable and green construction practices are slated to cement the dominance of this segment. High demand for affordable housing in developing countries with limited spending potential are promoting the sales of expanded polystyrene in this segment. Better thermal insulation, low weight, chemical inertness, and resistance to bacteria and pests are some key properties that are helping promote the use of expanded polystyrene in construction applications.
Meanwhile, the demand for expanded polystyrene in the automotive segment is estimated to rise at a robust pace in the future. Growing automotive manufacturing activity to keep up with the rising sales of vehicles around the world are promoting the sales of expanded polystyrene going forward. High emphasis on vehicle weight reduction and demand for good shock-absorbing capabilities to improve vehicle safety are promoting the adoption of expanded polystyrene in the automotive industry. Extensive use of expanded polystyrene materials in the production of automotive components such as foot pads, headrests & seats, storage compartments, and bumper systems is also creating new opportunities via this segment.
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The Asia Pacific region is estimated to secure the top spot when it comes to the global expanded polystyrene market share. Robust increase in automotive manufacturing, booming e-commerce activity, and high investments in launch of new construction projects are helping this region bring in the most revenue.
China is slated to emerge as the top country for expanded polystyrene suppliers operating in the Asia Pacific. High investments in infrastructure development, growing population, and rising manufacturing of electric vehicles are offering new opportunities for expanded polystyrene suppliers in China. India and Japan are also estimated to be opportune markets owing to high demand for different types of packaging.
Europe is forecasted to hold the second-largest share of the global expanded polystyrene industry going forward. Surge in adoption of green building practices, imposition of stringent energy efficiency mandates, and growing number of renovation projects are helping promote the demand for expanded polystyrene in this region.
Germany is forecasted to account for a dominant share of the European expanded polystyrene market in the long run. Surging residential construction activity, presence of robust automotive manufacturing industry, and government support for sustainable construction practices are allowing Germany to spearhead expanded polystyrene sales in Europe. France, Sweden, and the United Kingdom are also emerge as highly opportune markets for expanded polystyrene companies in Europe.
North America is also slated to hold a prominent share of the global expanded polystyrene demand outlook going forward. Extensive use of expanded polystyrene as an insulation material, high demand for novel packaging solutions, and presence of a strong economy are helping this region provide new business scope.
The United States is predicted to emerge as the leading country for expanded polystyrene providers looking to make a mark in the North American region. High penetration of e-commerce companies and surging consumption of packaged food products are cementing the high adoption of expanded polystyrene in this country. Canada is also estimated to be a notable contributor for revenue generation in this region.
Latin America is also slated to emerge as a highly opportune market for expanded polystyrene vendors in the long run. Booming demand for affordable housing, investments in infrastructure development to promote economic growth, and demand for packaging solutions are helping this region generate new business scope. Brazil is anticipated to spearhead the demand for expanded polystyrene in this region owing to growth in residential construction and rising penetration of e-commerce companies. Mexico and Argentina are forecasted to be other opportune markets in this region.
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Expanded Polystyrene Market Drivers
Rapidly Increasing Global Population
Versatility and Cost-effectiveness of Expanded polystyrene
Expanded Polystyrene Market Restraints
Environmental Concerns Regarding Waste
Availability of Sustainable Alternatives
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Expanded polystyrene companies should focus on figuring out a way to reduce their carbon footprint and environmental impact. Investing in the R&D of bio-based and eco-friendly expanded polystyrene products is expected to help market players maximize their business scope. Automotive, packaging, and construction industries are slated to be the most opportune verticals as per this global expanded polystyrene market forecast.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing construction activity, high demand for affordable housing, and advancements in recycling are slated to be key factors driving the global expanded polystyrene industry development through 2032. However, availability of sustainable alternatives and environmental concerns regarding waste are forecasted to impede the sales of expanded polystyrene in the long run. The Asia Pacific region is slated to account for the largest share of the global expanded polystyrene market owing to the launch of new construction projects and growing automotive manufacturing activities. Incorporation of circular economy practices and the development of bio-based expanded polystyrene can help companies stand out from the competition in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 11.79 Billion |
| Market size value in 2033 | USD 20.26 Billion |
| Growth Rate | 6.2% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Expanded Polystyrene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Expanded Polystyrene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Expanded Polystyrene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Expanded Polystyrene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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