Expanded Polystyrene Market Size, Share & Trends Report

Expanded Polystyrene Market Size, Share & Trends Analysis Report By Product (White, Grey), By Application (Construction, Packaging, Automotive), By Region (North America, Europe), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-603-5
  • Number of Pages: 180
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the expanded polystyrene market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for expanded polystyrene market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of expanded polystyrene market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Expanded Polystyrene Market Categorization:

The expanded polystyrene market was categorized into three segments, namely product (White, Grey), application (Construction, Packaging, Automotive), region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The expanded polystyrene market was segmented into product, application, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The expanded polystyrene market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-four countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Spain; The Netherlands; China; India; Japan; South Korea; Australia; Malaysia; Singapore; Thailand; Vietnam; Brazil; Argentina; Saudi Arabia; United Arab Emirates; South Africa; Oman.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Expanded polystyrene market companies & financials:

The expanded polystyrene market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Atlas Roofing Corporation - Founded in 1982 and based in Georgia, U.S., Atlas Roofing Corporation is a supplier of superior roofing and construction materials. The company operates through four key divisions: Atlas Molded Products, Polyiso Roof and Wall Insulation, Shingles and Underlayments, and Web Technologies. The Atlas Molded Products division specializes in the production of molded polystyrene insulation products and expanded polystyrene for a variety of uses, including interior and exterior construction OEM and packaging applications. Following the acquisition of ACH Foam Technologies in 2018, the company rebranded its EPS business division as the Atlas Molded Products division. Atlas Roofing Corporation boasts a network of 33 manufacturing plants and distribution facilities spread across North America. As of 2019, the company employed approximately 1,350 individuals.

  • Alpek S.A.B. de C.V. - Established in 1975 and based in Monterrey, Mexico, Alpek, S.A.B. De Cv is a company that specializes in the production and distribution of PTA, PET, and expandable polystyrene. The company operates under two main business divisions: polyester and plastics & chemicals. The polyester division provides Polyethylene Terephthalate (PET), Purified Terephthalic Acid (PTA), and polyester fiber. These products find applications in a variety of sectors such as food, beverage, packaging, clothing, furniture, and industrial applications. On the other hand, the plastics & chemicals division is involved in the production of expandable polystyrene (EPS), polypropylene (PP), caprolactam (CPL), and specialty chemicals. These products cater to a wide array of industries including consumer goods, automotive, construction, oil & gas, food & beverages, agriculture, and pharmaceuticals.

  • BASF SE - Established in 1865 and based in Ludwigshafen, Germany, BASF SE is a global company that operates across six key business sectors: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. The company’s products are utilized in a wide range of industries, including agriculture, construction, pharmaceuticals, energy & power, home care & nutrition, automotive & transportation, rubber & plastics, leather & textiles, and personal care & hygiene. The materials business sector of BASF SE is divided into two divisions: performance materials and monomers. The performance materials division provides polyurethanes, thermoplastics, and specialty foams, including expanded polystyrene, for a variety of uses in the transportation, construction, and consumer goods industries. BASF SE has an extensive global presence, with over 355 manufacturing facilities located in more than 90 countries across Europe, Asia Pacific, North America, Central America, South America, and the Middle East & Africa.

  • KANEKA CORPORATION - Established in 1949 and based in Tokyo, Japan, KANEKA CORPORATION specializes in the production of functional resin, foam resin, and synthetic fibers. The company operates through four main business divisions: nutrition solutions, healthcare solutions, quality of life solutions, and material solutions. These four divisions encompass ten business lines, also known as solutions vehicles. These include Performance Polymers (MS), Vinyls and Chlor-Alkali, Performance Polymers (MOD), Foam & Residential Techs, E & I Technology, Performance Fibers, PV & Energy management, Medical, Foods & Agris, and Pharma & Supplemental Nutrition. The company provides EPS through its Foam & Residential Techs solutions vehicle, which finds applications in cushion packaging materials for groceries, electrical products, and fish containers. KANEKA CORPORATION has four manufacturing facilities located in Takasago (Hyogo Prefecture), Osaka (Osaka Prefecture), Shiga (Shiga Prefecture), and Kashima (Ibaraki Prefecture) in Japan. As of December 2019, the company employed a workforce of 10,571 individuals.

  • PJSC Sibur Holding - Established in 1995 and based in Moscow, Russia, PJSC Sibur Holding is a company that specializes in the production of petrochemicals, plastics, rubbers, and other high value-added products. The company operates through two main business segments: Olefins & Polyolefins, and Plastics, Elastomers & Intermediates. The Olefins & Polyolefins segment encompasses products such as polypropylene, polyethylene, and BOPP films. The Plastics, Elastomers & Intermediates segment provides synthetic rubbers, EPS, and PET, which find various applications in the consumer goods, construction, and automotive industries. PJSC Sibur Holding has a global footprint, with a presence in 80 countries worldwide. As of December 2019, the company employed over 23,000 individuals.

  • BEWiSynbra Group - Foundead in 1980, the BEWiSynbra Group, with its headquarters in Solna, Sweden, specializes in the manufacture of expandable polystyrene. The company has integrated its operations across the value chain and produces 185,000 tons of raw material EPS beads annually. Its expandable polystyrene is used in a variety of applications, including building insulation, packaging, vehicle parts, and infrastructure across several industries such as building & construction, OEM, and packaging. The company operates 28 production facilities in six countries: Sweden, Norway, Denmark, Finland, the Netherlands, and Portugal, and has distribution networks in 35 countries. As of December 2019, it employed 1,254 people.

  • SUNPOR - SUNPOR was founded in 1986 and is headquartered in St Pölten, Austria. The company is engaged in the design and production of expanded polystyrene. It markets and sells its EPS products under various brand names, including sunpor, Lambdapor, suncolor, cerapor, and Lambdalit, for several applications in the construction and packaging sectors. It has an annual EPS production capacity of 230,000 tonnes. As of 2019, the company had 190 employees.

  • Synthos - Synthos, founded in 1945 and based in Oświęcim, Poland, specializes in the production of expanded polystyrene and various chemical products. These products serve as intermediates and raw materials for a range of industries, including packaging, automotive, and construction. In addition, Synthos produces and distributes heat energy from its power plants and trades electricity. The company operates across five business segments: synthetic rubbers (butadiene and rubber), dispersion, adhesives, and latex, styrene plastics (styrene and styrene derivatives), care (cosmeceuticals and food supplements), and agro (plant protection products). The styrene plastics segment provides three types of polystyrene products: expandable polystyrene (EPS), general-purpose polystyrene and high-impact polystyrene, and extruded polystyrene, each with various applications.

  • Total - Total, a global oil & gas company, was founded in 1924 and has its headquarters in Courbevoie, France. The company is involved in the production of industrial and specialty chemicals. It operates through four main business segments: exploration & production; refining and chemicals; marketing & services; and integrated gas, renewables & power. Total serves a variety of markets such as agriculture & industrial, compounds, consumer goods, flexible packaging, healthcare & personal care, infrastructure & construction, rigid packaging, and rotational molding. The company provides a range of products to the infrastructure & construction market, including insulation (including expandable polystyrene products), cables, artificial glasses, pipes, foams, and geosynthetics & technical textile. Total operates in over 130 countries worldwide. As of December 2019, it employed 107,776 people.

  • Flint Hills Resources - Flint Hills Resources, established in 1955 and based in Kansas, U.S., is a fully owned subsidiary of Koch Industries, Inc. The company specializes in the refining and production of fuels and chemicals. It provides its products through four main portfolios: fuels and aromatics, olefins and polymers, biofuels and ingredients, and pipeline. Through its olefins and polymers portfolio, the company supplies polymer grade propylene, polypropylene chemical grade propylene, and expandable polystyrene to various industries such as consumer goods, electronics, OEM, furniture, and footwear. Flint Hills Resources markets and sells its products throughout the U.S.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Expanded Polystyrene Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Expanded Polystyrene Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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