Expanded Polystyrene (Eps) Recycling Market will reach at market will reach at USD 56.13 Billion in 2032 , demand and future scope -Michigan Foam, Polystyvert, Styro Recycle, ACH Foam Technologies, Greenmax Intco, Rehab Recycle, FoamRecycle LLC, Ronson Re

The global Expanded Polystyrene (EPS) market size was USD 12.84 Billion in 2021 and is expected to register a revenue CAGR of 5.12% during the forecast period. The global Expanded Polystyrene (EPS) market will reach at USD 56.13 Billion in 2032 Market revenue growth is primarily driven by high growth in the construction industry. EPS is one of the building materials that can improve a building's design and construction integrity. EPS is increasingly being used in numerous building constructions due to its long-term benefits and improvements in terms of energy efficiency, durability, and interior environmental quality.

The Expanded Polystyrene (Eps) Recycling market industry report includes details about the historical analysis of the Expanded Polystyrene (Eps) Recycling market, which has the timeline from 2017 to 2020. The current status of the Expanded Polystyrene (Eps) Recycling market is also well discussed in the report along with the forecast market analysis till 2030. The report begins with the basic Expanded Polystyrene (Eps) Recycling market overview, which includes the market definition, market scope, and the target audience. In the later section, the market dynamics is defined extensively, which includes market drivers, restraints, opportunities, challenges, market advancements in terms of technology and others.

Some of the Major Key players profiled in the study are Michigan Foam, Polystyvert, Styro Recycle, ACH Foam Technologies, Greenmax Intco, Rehab Recycle, FoamRecycle LLC, Ronson Recycling, Heger Recycling

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Asia-Pacific region is expected to dominate the market over the forecast period owing to the increasing focus on the research, development, and manufacturing of Expanded Polystyrene (Eps) Recycling in countries including China, Japan, India, and South Korea.

arket Dynamics:
Driver: Increasing use in the construction industry
Increasing use in the construction industry is expected to drive market revenue growth. This is attributed to the various benefits of EPS with regard to the construction industry. EPS is an innovative building material that contributes to the design and structural integrity of a variety of construction projects. Although EPS has long been recognized as a common insulating material, new applications have emerged in the last decade. EPS is a powerful architectural design element and an excellent choice for green building design, bringing genuine environmental benefits such as increased energy efficiency, better indoor air quality, non- corrosive, and increased durability. EPS blocks are also commonly used in the construction sector to insulate walls and floors, as well as in the packaging industry, where basic shapes can be hot wire cut to protect corners and edges.

Insulating Concrete Forms (ICF), which are hollow EPS forms that are built on a construction site and then filled with five or six inches of reinforced concrete, are also increasingly being adopted. ICFs, unlike ordinary concrete forms, are not removed once the concrete has hardened. ICFs give excellent R-values and soundproofing properties, as the concrete core is encased with EPS insulation. Furthermore, owing to the concrete core, ICFs endure the forces of nature that ruin traditionally constructed homes.

Restraint: Concerns regarding environmental sustainability and health complications during manufacturing of EPS
Concerns regarding environmental sustainability and health complications during manufacturing of EPS are major factors expected to restrain market growth. Over 50 chemicals are released throughout the EPS production process, contaminating the air, water, and populations living near factories. The Department of Health and Human Services and the International Agency for Research on Cancer think that using different amounts of styrene units during production causes carcinogens. Styrene exposure can cause irritation to the eyes, skin, and respiratory system. This might raise questions about EPS' environmental sustainability and health risks during its production. Furthermore, the production of EPS necessitates the use of benzene, which when released into the air interacts with nitrogen oxides to form ground-level ozone, a dangerous air pollutant. Several companies have stopped using EPS for packaging and other purposes due to these environmental concerns. For instance, Target and McDonald's replaced their EPS packaging as a part of their sustainable materials management program.

COVID-19 Analysis:
COVID-19 has had a major impact on the market during the first wave, with countries across the globe implementing total lockdown and restricting movement of people and goods. The demand for packaged items increased, and so did the need for EPS to package them during COVID-19. The vaccinations that would help fight against COVID-19 were shipped in cold chain shipping containers made by the EPS industry. EPS packaging was used by several companies to safely deliver their products during COVID-19. As a result, the benefits of EPS in the transport of goods during COVID-19 are expected to drive market revenue growth by increasing its popularity.

Key Takeaways
Product Type Outlook:
Based on product type, the global EPS market has been segmented into white EPS, grey EPS, and black EPS. The white EPS segment accounted for largest revenue share in 2021 owing to increasing usage of white EPS in various sectors. White EPS is in increasing demand from the construction sector as it does not leach any substances in the ground and has excellent insulation properties. White EPS is also increasingly being adopted by sports equipment manufacturers for the foaming of sports equipment such as boxing pads, hockey pads, helmets, and others. In addition, white EPS is used in packaging applications, including electronica and consumer goods packaging and food packaging.

Competitive Landscape:
Competitive landscape of the global EPS market is moderately fragmented with many key players operating on global and regional levels. Key players are engaged in platform development and strategic alliances to expand their respective portfolios and gain a robust footing in the global market. Some major companies in the global market report include Wuxi Xingda foam plastic new material Limited by Share Ltd., Synthos, BASF SE, Sunpor, Ravago, Alpek S.A.B. de C.V., Versalis S.p.A., NOVA Chemicals Corporation, Flint Hills Resources, and Sibur.

On 10 February 2022, Carlisle Companies Incorporated announced that it has aligned its construction materials businesses into two segments organized around its products and applications for the sustainable Building Envelope. Block molded expanded polystyrene insulation is one of the main products that the company supplies.
On 27 September 2021, BEWI, a leading provider of packaging, components, and insulation solutions in Europe, signed a letter of intent with Swedish Plastic Recycling to recycle expanded polystyrene from their planned facility Site Zero in Motala, Sweden. The EPS volume from the new plant is estimated to amount to 1,000 to 3,000 tons per year aiming to make Site Zero the largest and most technologically advanced plastic recycling plant worldwide.
On 18 August 2021, Dixons Carphone, which is the business behind Currys PC World, launched a free recycling scheme that enables customers to return expanded polystyrene (EPS) packaging to stores for recycling

Expanded Polystyrene (Eps) Recycling Market Taxonomy

Expanded Polystyrene (Eps) Recycling Segmentation by Type:

Material Recycling, Chemical Recycling, Thermal Recycling.

Expanded Polystyrene (Eps) Recycling Segmentation by Application:

Packaging, Appliances, Consumer Electronics, Construction, Other

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Market Analysis and Insights Related to COVID-19

Due to the COVID-19 virus outbreak in December 2020, the pandemic has affected almost all the regions on the global platform in terms of human life and economy. The Expanded Polystyrene (Eps) Recycling market has also been impacted due to COVID-19.
Based on the analysis by our research analysts: COVID-19 will affect the Expanded Polystyrene (Eps) Recycling market economy in three ways. First, by directly affecting production and demand. Secondly, by creating supply chain and market disruption and lastly, by its financial impact on firms and financial markets.
How the Expanded Polystyrene (Eps) Recycling Market Report will prove useful?

Data provided will help to analyze the future prospects of the Expanded Polystyrene (Eps) Recycling market.
Segment analysis will help in identifying the untapped opportunities of the Expanded Polystyrene (Eps) Recycling market.
It will help in identifying the current trends that are ruling the market and how technological advancements will prove useful for further market developments.
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