Expanded Polystyrene Market Size and Demand 2030 | Rising demand for expanded polystyrene in the construction industry
Reports And Data
EPS Market Size $ 9.81 Billion at a CAGR of 4.9% by 2030 Trends – Increasing adoption of expanded polystyrene for the decorative and imaginative appearance
NEW YORK CITY, NEW YORK, UNITED STATES, May 18, 2022 /EINPresswire.com/ -- The global Expanded Polystyrene market size is expected to reach USD 15.06 Billion in 2030 and register a revenue CAGR of 4.9% 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. Expanded polystyrene can enhance structural integrity and aesthetic design on the floors and walls, increasing demand for expanded polystyrene. Increasing demand for expanded polystyrene due to low maintenance, long shelf life, and fast and economical construction is another factor increasing its adoption, which is expected to propel the revenue growth of the market in the near future. Additionally, increasing usage of expanded polystyrene for the packaging of electronic products to avoid any product breakage is also expected to drive the revenue growth of the market.
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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Some Key Highlights from the Report:
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 expanded polystyrene market between 2022 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 expanded polystyrene 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.
Companies profiled in the global market report include 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.
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Product Type Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
White Expanded Polystyrene
Grey Expanded Polystyrene
Black Expanded Polystyrene
Application Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
Packaging
Insulation
Foaming
Component Manufacturing
Chemical Intermediate
Material Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
Expanded Beads
Raw Beads
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The global Expanded Polystyrene market is segmented into:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
What are the dominating factors that are influencing the growth of the industry?
In the forecast period, which market segment is expected to rise the most?
What are the risks and challenges that the industry is facing?
In the coming years, which area is projected to dominate the market?
Who are the major players in the market? What kind of strategic business plans have they made?
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