Market Size of Expanded Polystyrene (EPS) Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 12.46 Million tons |
| Market Volume (2029) | 14.48 Million tons |
| CAGR (2024 - 2029) | 3.05 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
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*Disclaimer: Major Players sorted in no particular order |
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Expanded Polystyrene (EPS) Market Analysis
The Expanded Polystyrene Market size is estimated at 12.46 Million tons in 2024, and is expected to reach 14.48 Million tons by 2029, growing at a CAGR of 3.05% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. With the resumption of operations in major end-user industries, the market recovered significantly in 2021.
- Over the short term, increasing demand for value and quality enriched products, including organic and fair trade and health and wellness goods, indicates a favorable potential demand for packaging materials. EPS is approved for use in conjunction with food products.
- On the flip side, the availability of alternative products for EPS and environmental regulations are hindering the growth of the market studied.
- The increasing demand for bio-based polystyrene and applications in marine floatation and floating decks are likely to act as opportunities for the studied market.
- The Asia Pacific accounts for the highest market share and is expected to dominate the market during the forecast period.
