Polystyrene Foam Market worth $32.2 billion by 2026 | Key players Atlas Copco, United Rentals, Inc., Ingersoll Rand, Caterpillar Inc., Loxam Group.

According to recent market research the "Polystyrene Foam Market by Resin Type (EPS AND XPS), End-use Industry (Construction and Industrial Insulation, Packaging, Building and Construction), Region (APAC, Europe, North America, South America, and Middle East & Africa) - Global Forecast to 2026" The global Polystyrene Foam market size will grow to USD 32.2 billion by 2026 from USD 26.4 billion in 2021, at a CAGR of 4.1% during the 2021-2026 period. The use of Polystyrene Foam in building & construction, packaging industry and others is expected to increase in APAC in the next five years.

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The major product types of EPS covered in this report are white and grey. White EPS is the largest product type and is projected to grow at a higher rate during the forecast period. This growth is attributed to the high consumption of white EPS in the building & construction industry because white EPS reflects the sun better than grey, and therefore, its surface does not get as greasy in the heat of the sun. This means it is often not necessary to rasp the white EPS, saving several hours of work for an average installation. In APAC, where the building & construction industry is growing, there is high demand for white EPS.

The EPS foams market is segmented on the basis of end-use industry into building & construction, packaging, and others. Building & construction is the largest and the fastest-growing end-use industry of EPS foam. EPS possesses ideal physical and mechanical properties for most insulating needs. It is an excellent design element, an ideal choice for green building, offers tangible environmental advantages that can maximize energy efficiency, provides improved indoor environmental quality, and enhances durability. These factors make the building & construction industry the largest consumer of EPS foam.

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APAC is an emerging market for polystyrene foams. The market in this region is driven by the easy availability of raw materials, increased foreign investments, and low labor costs. The end-use industries of polystyrene foams, such as building & construction and packaging, are growing in the emerging countries, including China, India, Indonesia, and Thailand, which play an important role in driving the market The increasing use of polystyrene foam in the building & construction industry in the emerging economies is expected to bring new opportunities in the market. Brazil, Russia, India, China, and South Africa together comprise the BRICS association. The growing demand for polystyrene foams from the packaging industry in BRICS countries is expected to drive the market. BRICS countries account for more than XX% of the global packaging industry. This share is expected to increase soon as the economy of these countries is growing rapidly. North America and Europe have reached the maturity stage, where the demand for polystyrene foams is stagnant. The market is saturated, and most of the manufacturers are exploring untapped markets.

The key players profiled in the polystyrene foams market report are Loyal Group (China), Wuxi Xingda Foam Plastics Materials Co., Ltd. (China), Synthos S.A. (Poland), BASF SE (Germany), Versalis S.P.A. (Italy).

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Loyal Group is the biggest EPS manufacturer in Asia. The company also produces high impact polystyrene and general grade polystyrene products. It is based in China, where its manufacturing and research facilities are primarily located. The company manufactures various grades of EPS as well as XPS foam products. Export level products are primarily manufactured without the HBCD (Hexabromocyclododecane) additive as it has been banned in many international markets. Loyal Group has a total production capacity of over 1.5 million tons per year. The company offers excellent quality of Expandable Polystyrene to over 60 countries.

Wuxi Xingda manufactures and sells EPS products. The products under the XIFA brand EPS series produced by the company are widely used in the packaging, construction, decoration, transportation, and infrastructure applications, among others. The company operates as a subsidiary of Xingda Investment Group Co., Ltd. Wuxi Xingda's EPS production capacity ranks top three in the world. The company produces 1,350 kilotons per year. The company's EPS products have been sold in more than 30 provinces in China and exported to over 20 countries and regions in Europe, America, Oceanian, and Middle East.

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