This market report by Ceresana provides information on polystyrene (consisting of general purpose polystyrene, high impact polystyrene, extruded polystyrene) and expandable polystyrene (EPS). That the PS & EPS market is worth a detailed analysis becomes obvious simply by the fact that by 2026, market value of these products is likely to rise to more than USD 37.3 billion.
Polystyrene Market (GPPS, HIPS, XPS)
Important characteristics of polystyrene (PS), e.g. surface gloss, impact resistance, resistance to stress cracking, and flow properties allow for a broader range of applications compared to EPS. Global demand reached a volume of approx. 11.2 million tonnes in 2018. The packaging industry in particular consumed a large amount of polystyrene, in the subsegment food packaging in particular. Additionally, polystyrene is often used in casings of monitors, televisions, printers, and other electrical devices as well as consumer and construction goods.
Within the packaging sector, polystyrene is mainly used for dimensionally stable food packaging. This dimensional stability is guaranteed by the high rigidity of the material. Additionally, packaging of polystyrene tends to weigh very little and thus is cost-effective, which is an important advantage in the highly competitive packaging market. Applications for polystyrene packaging are, for example, cups for dairy products such as yogurts, cream, milk, milk mix beverages, cream cheese, curd cheese or desserts. A high tensile strength is important for multipack yogurt cups in particular. Therefore, high impact polystyrene (HIPS) is often mixed with general purpose polystyrene (GPPS).
Market Research Expandable Polystyrene (EPS)
EPS is mainly used by the construction industry for thermal or sound insulation. Ceresana analyzed the global market for this light, solid, and individually moldable foam material once again. Worldwide, EPS-based products are used in the construction of new residential buildings and in the refurbishment of old buildings. For example, glass and stone wool, PUR foams but also insulation material based on renewable resources compete with EPS. Until 2026, Ceresana expects an increase of global EPS demand by 2.6% p.a. This sector profited from efforts concerning climate protection and public support measures to increase energy efficiency especially in Europe. Thus, the construction industry reached a share of 60% of EPS demand in this region. In Asia, which is the largest EPS market, this share was below 48%. EPS is also used for helmets and life jackets, beverage cups, packaging, casting molds, and numerous other products. Especially the Asian-Pacific countries as well as North America dominate the market for EPS packaging with a total demand of 2.8 million tonnes in 2018. In these countries, packaging is used, e.g., for transportation of fresh fish or electronic devices.
The PS & EPS Market Study in Brief:
Chapter 1 provides a description and analysis of the global PS and EPS market – including forecasts up to 2026: For each region of the world, demand in tonnes and revenues in US dollars and euros are given. Furthermore, global and regional demand per product and application area is analyzed.
Application areas analyzed in this study are:
- Industrial Products
- Other Applications
Chapter 2 examines 21 countries in more detail. Country-specific information for PS and EPS respectively is given on:
- Export and import
- Demand per application area
Chapter 3 provides useful profiles of the largest manufacturers of PS and EPS – clearly arranged according to contact details, turnover, profit, product range, production sites, capacities, and profile summary. Extensive profiles are given for 57 manufacturers, including Total S.A., INEOS Group Ltd., Trinseo S.A., BASF SE, Synthos S.A., Chi Mei Corporation, Formosa Plastics Group, Taita Chemical Company, Ltd., Versalis S.p.A., and Chevron Phillips Chemical Co. LLC.