Expanded Polystyrene Market Segmentation:
Density Segment Analysis
The high-density EPS segment is expected to dominate the expanded polystyrene market and is expected to account for approximately 68.5% of the revenue share during the forecast period. This growth can be attributed to the fact that it is mixed with superior durability and insulation properties, especially in construction and packaging applications where strength and thermal performance become crucial. High-density EPS imparts superior resistance to thermal conduction, supporting initiatives for energy-efficient buildings. In addition, its application in the automotive sector for absorbing impacts has further strengthened its position in the market. In August 2022, Helmet manufacturer Steelbird Hi-Tech India Ltd. established a plant in Himachal Pradesh, which was indicative of serious investment in high-density EPS for the construction and manufacturing sectors.
End use Industry Segment Analysis
The packaging segment is likely to dominate the expanded polystyrene market with a 47.2% share during the forecast period. EPS is inherently light and has cushioning properties, making it one of the favorable options for packaging in the food and electronics industries. Its growth in the packaging sector also coincides with the global trend towards the adoption of sustainable packaging, where demand for recyclable raw materials like EPS continues to increase. The packaging segment accounts for a considerable share of the global EPS demand, driven by industries seeking eco-friendly alternatives. As a result of these factors combined, manufacturers are anticipated to capitalize on the available opportunities in the production of expanded polystyrene (EPS) for packaging during the forecast period.
Our in-depth analysis of the expanded polystyrene market includes the following segments:
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Density |
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End use Industry |
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