Expanded Polystyrene Market Size 2024: Recent Analysis and Extensive Industry Forecast till 2026

The global expanded polystyrene market size is projected to reach $22.8 billion by 2026, growing at a CAGR of 5.1% from 2019 to 2026

WILMINGTON, DE, UNITED STATES, December 11, 2024 /EINPresswire.com/ -- The expanded polystyrene market research report offers a comprehensive examination of the competitive landscape within the industry, empowering key players to strengthen their market presence and sustain a competitive advantage. It features a PESTEL analysis and Porter’s Five Forces framework to evaluate the industry's dynamics effectively. Furthermore, the report identifies significant investment opportunities for stakeholders, assessing them based on their CAGR and relative market share. In addition, it profiles major players in the market, providing insights into their financial performance and global positioning.

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According to a report published by Allied Market Research, the expanded polystyrene industry is expected to hold $22.8 billion with an impressive CAGR of 5.1% from 2019 to 2026. The market accounted for $15.3 billion in 2018. The industry has witnessed significant growth due to the rise in application of expanded polystyrene (EPS) in the construction and packaging industries. Furthermore, the cost-effectiveness of grey and black EPS is expected to create wider growth opportunities for the market in the coming years. However, the fluctuations in crude oil prices have directly impacted the costs of raw materials and the manufacturing process, which impede industry growth to some extent.

Regional insights
The expanded polystyrene industry is analyzed across different regions across the globe. Based on regional analysis, Asia-Pacific held the highest market share in 2018. This is mainly due to the increased number of construction activities across the region. Moreover, several ongoing and upcoming building structure and development projects are expected to create wide growth opportunities in the region. In addition, rise in adoption of EPS for cold chain packaging in pharmaceutical segment to enhance product safety is anticipated to drive the regional growth over the estimated timeframe.

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Sustainability initiatives in the sector
Leading players in theEPS industry have continuously invested in technologies to incorporate recycled content from used EPS packaging. This initiative aims to produce recycled content resin that has the potential to be used in various applications, significantly reducing reliance on virgin materials and minimizing environmental impact.
Leading EPS producers have developed proprietary formulas allowing the incorporation of at least 30% recycled content into new products, including protective packaging and construction materials. This shift is driven by an increase in regulatory pressures and surge in demand for sustainable materials.

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Use of innovative material variants in the domain
New variants of EPS, such as biodegradable polystyrene derived from agro-industrial waste and mushroom mycelium, are explored. These alternatives emphasize the potential for circular processes that reduce waste and enhance environmental responsibility. In addition, a new type of EPS containing graphite particles has been introduced, improving insulation capacity while also demonstrating a lower environmental impact compared to traditional materials.

Glimpse on emerging applications of EPS
EPS is utilized in innovative architectural designs and high-performance products beyond traditional uses in construction. This includes temporary interventions and advanced design approaches that leverage its lightweight and insulating properties.
The material is increasingly adopted in sectors such as green building, where recycled content resins are used for insulation without compromising quality. This trend reflects a broader movement toward sustainability within the construction industry.

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Competitive insights
The report includes detailed company profiles that provide insights into the strategic initiatives of key players in the expanded polystyrene market. These initiatives include acquisitions, mergers, new agreements, product launches, partnerships, joint ventures, and R&D investments, as well as regional expansions at both global and local levels.

The major companies featured in the report are:
NOVA Chemical Corporation
LG Corporation
S.A.B. de C.V,
Styrochem
Alpek
Evonik Industries AG
BASF SE
ARKEMA S.A,
KANEKA CORPORATION,
SABIC
Total S.A

In summary, AMR's report on the global expanded polystyrene industry provides significant insights for businesses, investors, and stakeholders. The report equips decision-makers with essential information by analyzing market trends, regional dynamics, and the competitive landscape, to pinpoint growth opportunities and promote long-term success.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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