Polystyrene & Expanded Polystyrene Market Size & Share 2018 - 2025
Market Size by Product (Polystyrene, Expanded Polystyrene), by Application (Insulation, Packaging, Foaming, Component Manufacturing, Chemical Intermediate), by End User (Transportation, Electrical & Electronics, Construction, Consumer Goods, Food & Beverage), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast.
Report ID: GMI2063
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Published Date: October 2018
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Polystyrene & Expanded Polystyrene Market Size
Polystyrene & Expanded Polystyrene Market size was over USD 35 billion in 2017, with projected gains close to 4.5% CAGR between 2018 and 2025.
Global polystyrene & expanded polystyrene market is estimated to observe significant potential for geofoam applications in the coming decade. Geofoam is expanded polystyrene or extruded polystyrene manufactured into large lightweight blocks. EPS geofoam is approximately 1% the weight of soil and less than 10% the weight of other lightweight fill alternatives. As an ultra-lightweight fill, EPS geofoam reduces the stress on adjacent and underlying subgrades; as an ideal insulator, it prevents heat from reaching the pavement from the underlying soil. On account of these unique characteristics, global PS & EPS market will also mark demand for expanded polystyrene foam in swimming pool construction, as a layer of insulation for roofs and rooftop gardens and for stadium seating. For instance, EPS geofoam has been used to shape the vegetative roof installations at Scottish Parliament building in Scotland. The lightweight and versatile characteristics of EPS geofoam will drive its demand for insulation in green roof systems by 2025.
PS & EPS have been used in various electronics applications, for instance, the manufacture of capacitors, refrigerators, ovens, microwaves, vacuum cleaners, televisions, handheld devices, and IT and telecom equipment. With an increasing demand for smartly designed electrical appliances entailing enhanced functionalities by the global consumer, polystyrene & expanded polystyrene market will mark significant demand in electrical & electronics sector by 2025. However, volatility in prices of raw materials and availability of high-performance substitutes including polyethylene, polypropylene, PLA, PET and bio-plastics might hamper global PS & EPS market growth to some extent over the forecast period.
Polystyrene & Expanded Polystyrene Market Analysis
Polystyrene led global polystyrene & expanded polystyrene market in 2017 and accounted for more than half of the total market share. The product has been used in refrigerator lining, packaging and construction industry. It is lightweight, cost effective and can be recycled conveniently. Its shatterproof characteristics and low conductivity makes polystyrene highly desirable in electrical insulation. Moreover, growing demand for disposable and reusable containers in food industry shall fuel product usage for packaging applications by 2025.
EPS is 98% air and the rest is composed of small, spherical EPS beads—made only of hydrogen and carbon. EPS has been the second-largest styrene derivative, after polystyrene. EPS is characterized by properties such as: rigidity, light weight and ideal thermal insulation. The segment shall witness substantial growth in the coming years, expanding at a CAGR of 4.6% due to its 100% recyclability, lightweight and compressive resistance. EPS applications will be significantly demanded in safety wear manufacturing such as helmets, as it provides superior shock resistance along with long time durability.
Packaging emerged as the leading application in the polystyrene & EPS market, accounting for over 30% share in 2017. PS and EPS are widely used in packaging of food, electronic appliances, retail items and consumer goods. They are preferred in packaging as it is light in weight and offers excellent insulation and weather resistance properties. However, the segment will observe moderate growth by 2025 due to increase in relative market share of other applications and several bans on plastic usage in food packaging application due to environmental issues.
Plastics have been extensively preferred over metals in automobiles in the recent years on account of easy moldability, superior impact strength, improved aesthetics, cabin insulation, scratch resistance and lightweight. An average car includes approximately 10-15% plastics of total car weight. All polystyrene & EPS components play a critical role in automobile manufacturing. The products can be found in a range of applications in this industry including: seating components, front and rear bumper cores, void fillers, roof liners, padding, housing brackets, head impact protection (head rests), side impact protection, pedestrian impact protection, knee bolsters or steering column hoods, boot spacers, sun visors, trunk liners, battery housing. The transportation sector is estimated to have a growth above 4% CAGR in global PS & EPS market by 2025.
In 2017, Asia Pacific held the highest share above 40% in global polystyrene & expanded polystyrene market. The region will observe similar trend in the coming years. In the same year, China had a robust share above 50% in the region, for the vast production capacities availability raw materials and robust industrialization, cost-effective manufacturing and the immense growth trends in the sectors including: consumer goods, transportation, electrical & electronics and construction are expected to support the regional growth.
Polystyrene & Expanded Polystyrene Market Share
Significant market players in global PS & EPS market include
Global polystyrene & expanded polystyrene market was highly competitive in 2017. Manufacturers have been involved in significant merger & acquisition activities, for instance, in March 2015, BASF sold its white EPS business in North & Latin America to Alpek S.A.B. de C.V, with the aim to focus on company’s EPS business in Asia and Europe regions.
Industry Background
Polystyrene is a synthetic aromatic polymer obtained from styrene monomer. This thermoplastic polymer softens on heating and thus can be converted into semi-finished products including: sheets, films and finished articles. PS is used in IT equipment, electronic components, appliances structures, plastic toys, media and other enclosures. Expanded Polystyrene is a rigid plastic and contains an expansion agent. It is 100% recyclable with unique properties including prevention of microorganism growth and superior thermal insulation. These traits will lead to significant demand for EPS especially in food packaging and construction applications by 2025.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →