Polystyrene (PS) & Expanded Polystyrene (EPS) Market Size

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.

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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.