The global expanded polystyrene market is projected to reach USD 18.97 Billion by 2022, at a CAGR of 5.1% from 2017 to 2022. Growing construction activities and increase in the demand for packaged food has led to an increase in the demand for expanded polystyrene from the building & construction and packaging industries. The rising demand from end-use industries in countries across the globe is expected to further fuel the growth of the expanded polystyrene market.

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Building & construction is estimated to be the largest segment of the market in 2017, in terms of volume, followed by the packaging segment. The rising demand for new and innovative products, and need for research & development in expanded polystyrene has led to companies adopting organic and inorganic growth strategies to increase their market shares.

Building & construction: the leading end-use industry segment of the expanded polystyrene market

Expanded polystyrene resins are commonly used materials in the building & construction industry. Apart from its application in insulation, expanded polystyrene foam is also used inroad foundations, void forming, flotation, drainage, impact sound insulation, modular construction elements, cellular bricks, bridges, railway lines, public buildings, or even small family residences, among others. Excellent mechanical properties, quick construction/assembly ability, and low subsequent maintenance of expanded polystyrene makes it a preferred material in the building & construction industry. Changing consumer preferences and growing need for technologically-advanced products is expected to boost the market for expanded polystyrene.

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Key market players in the expanded polystyrene market

Key players in the market include ACH Foam Technologies, LLC (U.S.), Alpek SAB de CV (Mexico), BASF SE (Germany), Kaneka Corporation (Japan), SIBUR Holding (Russia), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), SUNPOR KUNSTSTOFF GmbH (Austria), Synbra Holding bv (Netherlands), Synthos S.A. (Poland), and Total S.A. (France).

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