Expanded Polystyrene Manufacturing Industry
Expanded Polystyrene Manufacturing Industry. Production of EPS
Expanded Polystyrene (EPS) Market to Reach USD 23.70 Billion by 2026
Expanded Polystyrene (EPS) is the generic industry name used for white rigid material made from the expanded polystyrene beads. It is a lightweight, rigid, plastic foam insulating material produced from solid beads of polystyrene.
The EPS beads are expanded and finally molded into larger EPS blocks which are further used for walls, roofs, floors, crawl spaces and architectural shapes. EPS is a low-density polymer arranged in individual cells, capable of providing excellent moisture resistance, good chemical barrier protection along with light weight characteristics. The addition of graphite results in improving the insulating properties of finished products imparting paving the way for use in construction industry
EPS is also used for helmets and life jackets, beverage cups, packaging, casting molds, and numerous other products – however, construction products currently account for almost 59% of the EPS market. All around the world EPS-based products are used in the construction of new residential buildings and in the refurbishment of old buildings.
Besides fire safety, questions arise regarding the use of possibly unhealthy additives and the environmentally friendly disposal of the practical material after use. For example, glass and stone wool but also insulation material based on renewable resources compete with EPS.
EPS is commonly used in form of a foam. The word “styrofoam” is often used for the description of EPS foam. It is kind of trademark used of this foam material. Most common foam products used in daily lives include coolers, wine shippers, molded end caps and comers, packaging of boxes and even for the cups used at different places for water coolers.
EPS is used in many applications, such as thermal insulation board in buildings, packaging, cushioning of valuable goods, and food packaging.
EPS is used to make numerous car parts, such as door panels, sound dampening foam, instrument panels, etc. It is also widely used in child protective seats. Packaging made out of EPS has shown to keep food fresher, for longer.
As it is inert, durable, and resistant to water damage, the lightweight foam is used to provide thermal insulation in cold storage, refrigerators, walls, and roofing. Its compression resistance makes it ideal for stacking packaged goods. The construction industry has seen a surge in the usage of Expanded Polystyrene for inroad foundations, flotation, cellular bricks, bridges, railway lines, public buildings, drainage, etc.
Market Outlook
The EPS market is expected to grow from USD 15.5 billion in 2018 to USD 20.1 billion by 2023, at a CAGR of 5.3% during the forecast period.
U.S. EPS market, by Product, 2014 – 2025 (Kilo Tons)
Expanded Polystyrene (EPS) is the commonly used industry name for rigid material produced from the expanded polystyrene beads. EPS is a rigid, lightweight, plastic foam insulating material made from solid beads of polystyrene.
The increasing prominence of insulation property in the building & construction sector of developed economies comprising China and India is anticipated to support the usage of high-quality polymers. Moreover, an increase in spending for enhancing the longevity of residential buildings and commercial complexes in extreme, external environmental conditions is projected to stimulate the market demand for expanded polystyrene.
Growing construction and infrastructure industry in developing countries, is a key factor expected to drive growth of the global expanded polystyrene market over the forecast period. Rising demand for convenience food and protective food packaging in developing economies, is another factor anticipated to propel growth of the target market over the forecast period. In addition, growing demand for thermal insulation to reduce energy consumption, is a dynamic factor expected to fuel growth of the target market over the forecast period.
Global EPS Market Volume, By Application, 2016 (%)
Grey EPS is the fastest-growing segment in the EPS market. Grey EPS is gradually penetrating the global market for the past 10 years. The less thermal conductivity and better insulation of grey EPS than white EPS are making it a preferable choice in the building & construction industry. Grey EPS has an additional elasticity, which improves sound insulation and also provides better thermal efficiency in comparison to the normal white EPS insulation.
In automobile industry, the trend to replace metal by plastics has been prevailing, due to their higher impact strength, easy moldability, improved aesthetics, scratch resistance, cabin insulation, and lightweight. Transportation segment is expected to be a notable driver for the global Polystyrene Market & EPS Industry during the forecast period.
EPS consumption in packaging applications is used primarily as a cushioning protectant in fragile items as well as in disposable trays, cups, plates, bowls, etc. The growth in this market is driven primarily by the electronics and appliance industries.
Global Expanded Polystyrene Market, By Region, By Value, 2013-2023F
Increasing demand for the product in applications such as egg trays, fast foods, cold drinks, and others signifies the growth of packaging industries. Moreover, growing consumption of product due to unique features offered by the product such as enhanced mechanical properties, ease of transport coupled with installations provide a boost to the expanded polystyrene market growth.
Globally, the market for expanded polystyrene is driven by the region Asia Pacific, owing to growing consumption of the product in various end-use industries such as construction & buildings, packaging, automotive, and others. These materials are used to impart lightweight, durable, moisture resistance, versatile, and ease of application to the final product. Additionally, the cost effective nature of the product has led a surge in demand for the product in major sectors.
The Top Players Including:
- ACH Foam Technologies
- Alpek SAB De Cv
- BASF SE
- Kaneka Corporation
- PJSC Sibur Holding
- SABIC
- Sunpor Kunststoff GmbH
- Synbra Holding BV
- Synthos SA
- Total SA
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