Authored By: Sarah
02 Jul 2024

 Expanded Polystyrene (Eps) For Packaging Market Size to grow by USD 5980.4 million between 2024-2028

According to a research report “ Expanded Polystyrene (Eps) For Packaging Market” by Application (Electronic appliances, Food and beverage, Healthcare, Others) Type (White, Grey) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5980.4 million, at a CAGR of  8.8% during the forecast period. Expanded polystyrene (EPS) is a preferred choice for packaging due to its eco-friendly attributes, despite being non-biodegradable. Its recyclability is a significant factor, as it can be recycled using specialized compactors and pelleting processes. This process reduces the material into simpler forms in a limited timeframe. Moreover, EPS is reusable, minimizing waste and pollution. Consequently, businesses, particularly in the retail and food and beverage sectors, favor EPS packaging, encouraging customers to reuse it. Thus, EPS's recyclability and reusability make it a more sustainable option compared to plastic, wood, and cardboard.

Browse market data tables, figures, and in-depth TOC on “Expanded Polystyrene (Eps) For Packaging Market” by Application (Electronic appliances, Food and beverage, Healthcare, Others) Type (White, Grey) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Application, the Electronic appliances segment is projected to dominate the market size in 2024

In the global Expanded Polystyrene (EPS) market, the white EPS segment held a significant market share and drove the highest revenue growth in 2023. The primary drivers of this segment's expansion are its extensive usage in various industries, including food packaging (drink cups, meal trays, and clamshell containers) and electronics and consumer goods packaging. Furthermore, white EPS finds additional applications in furniture, sports helmets, building materials, and automobiles. The market's growth is attributed to the versatility and wide range of applications for white EPS, leading to a projected CAGR of over 5% from 2023 to 2027.

By Type, White  segment is expected to hold the largest market size for the year 2024

In the electronic packaging market, expanded polystyrene (EPS) plays a pivotal role in safeguarding various appliances, including blenders, washing machines, personal computers, scanners, and television screens, during transportation. The electronics industry, dominated by sectors such as refrigerators, television screens, and air conditioners, experiences significant growth due to increasing global temperatures and the subsequent demand for cooling solutions. Notable industry players, like Voltas, are capitalizing on this trend by launching new adjustable AC models, such as the recent introduction of 24 units in India. Consequently, the escalating demand for electronics is projected to boost the requirement for lightweight and protective packaging solutions, like EPS, throughout the forecast period.

APAC is forecasted to hold the largest market size by region in 2024

The Expanded Polystyrene (EPS) market for packaging applications is experiencing significant growth due to its exceptional insulation properties and lightweight nature. This versatile material offers superior protection for fragile goods during transportation and storage. EPS's ability to be molded into various shapes makes it an ideal solution for customized packaging needs. Its excellent insulation properties also make it an effective choice for temperature-sensitive products, ensuring optimal preservation. Overall, EPS's cost-effectiveness, durability, and environmental sustainability make it a preferred option in the packaging industry.

The Expanded Polystyrene (Eps) For Packaging Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alpek SAB de CV
  • Arkema Group
  • Axion Recycling Ltd.
  • BASF SE
  • Chimei Corp.
  • DuPont de Nemours Inc.
  • Eni SpA
  • Epsilyte LLC
  • Formosa Chemicals and Fibre Corp.
  • INEOS AG
  • Kaneka Corp.
  • LG Chem Ltd.
  • NOVA Chemicals Corp.
  • PS Japan Corp.
  • Ravago
  • Saudi Basic Industries Corp.
  • Supreme Petrochem Ltd.
  • TotalEnergies SE
  • Trinseo PLC
  • Videolar Innova SA
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

Expanded Polystyrene (EPS), also known as styrofoam, is a popular packaging material known for its excellent insulation properties and ability to protect fragile products during transportation. It is widely used in various industries, including white goods manufacturing for the production of floating decks, marine floatation, and flotation devices such as buoys, life preservers, and boats. EPS is also used in the automotive sector for vehicle insulation and in the pharmaceutical industry for packaging and injection molding. However, concerns over the environmental impact of traditional polystyrene have led to the exploration of alternative packaging materials. Bio-based polystyrene and natural packaging products like kapok and paper are gaining popularity as linear replacements. Foaming plastics made from polystyrene beads remain a common choice due to their low cost and high performance. EPS continues to be a preferred choice for insulation and packaging applications in industries such as industrial packaging and the food service industry. The technology behind EPS production continues to evolve, with advancements in injection molding techniques and the use of green buildings.

Market Research Overview

Expanded Polystyrene (EPS), also known as Styrofoam, is a lightweight, closed-cellular plastic material made from the expansion of polystyrene beads. It is widely used in various industries for its excellent insulating properties, making it an ideal choice for packaging fragile products, such as electronics, pharmaceuticals, and medical equipment. In the transportation sector, EPS is used for insulating and protecting two-wheelers, three-wheelers, commercial vehicles, and passenger vehicles. It is particularly useful for insulating delicate things during transportation, ensuring comprehensive protection. In the food industry, EPS is extensively used for foodstuff packaging, especially in the global seafood market, where it keeps food products fresh and maintains their quality. EPS is also used for smart packaging, such as horticultural products, toys, and electrical consumer goods. EPS is also used in innovative building products, durable goods, and value-added plastic products. Its closed-cellular structure makes it an excellent insulator, with low water absorption and mechanical resistance. EPS is also used in flotation devices, such as buoys, life preservers, and boats. EPS is recyclable, with both open-loop and closed-loop recycling technologies available. Styrene producers are continuously researching new recycling technologies to reduce the environmental impact of EPS production. Alternative packaging materials, such as kapok and paper, are gaining popularity, but EPS remains a popular choice due to its lightweight, closed-air, low-thermal conductivity, and excellent insulating properties. EPS is used in various forms, including containers, packing peanuts, trays, take-out containers, plates, bowls, cups, and even movie props, park benches, picture frames, and crown moldings. EPS is produced from crude oil, and its price is influenced by the price of crude oil. However, EPS's thermal insulating properties make it a valuable resource for industries that require comprehensive protection and insulation, such as the pharmaceutical, automotive, industrial packaging, and food service industries. EPS is available in two forms: white EPS and grey EPS. White EPS is commonly used for food packaging, while grey EPS is used for industrial applications. EPS is used in various industries, from coffee cups and burger boxes in the fast-food industry to linear replacement in green buildings and innovative building products. In conclusion, EPS is a versatile and valuable packaging material that offers comprehensive protection, insulation, and lightweight properties. Its use in various industries, from transportation to food packaging, demonstrates its importance in ensuring the safe and efficient transportation and storage of fragile products. EPS's recycling technologies and continuous innovation make it a sustainable and eco-friendly choice for various industries.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio