From 2021 to 2030, the polystyrene foam board market is expected to rise at a CAGR of 5.1% globally, from $46.2 billion in 2020 to $73.8 billion in 2030.
Styrene monomer is used to make polystyrene foam, a semi-finished product. Polystyrene is classified into two types based on the sort of manufacturing process it goes through: expanded and extruded. Extruded polystyrene (XPS) is an extruded product, whereas expanded polystyrene (EPS) is created by expanding polystyrene with gas.
The global polystyrene foam market is being driven by urbanization and industrialization, which has resulted in the rise of the construction industry, rigorous energy efficiency and fire safety regulations, and rising demands from the packaging industry. During the Covid-19 outbreak, production of polystyrene foam was halted due to lockdown measures, a lack of sufficient workers, and supply chain problems around the world.
EPS is a rigid, closed-cell, thermoplastic foam that is made from solid polystyrene beads that are expanded by gas. When the heat in the form of steam is supplied to the gas, it expands, forming closed EPS cells. EPS has a much more cellular structure and separates into individual beads when broken. XPS has a more closed-cell construction, and if you look closely, you can tell the difference between EPS and XPS. In the construction industry, EPS foam thermal insulation sheets have a wide range of uses. Ceilings and walls of structures, as well as pipes, can be used to isolate heat. Thermal insulation is necessary for buildings to reduce energy expenses associated with HVAC systems. When a building is appropriately insulated thermally, heat energy is transferred into the structureless or not, allowing the occupants to maintain their preferred temperature.
The rigid foam board Extruded Polystyrene (XPS) thermal insulation board is created in a fully automated continuous extrusion process and has a closed-cell structure. It is a suitable insulating material for roofs, walls, and floors due to its unique qualities of strong compressive strength, increased R-value, and low water absorption. As a result, building constructors use polystyrene foam insulation to regulate a structure’s internal temperature. Thermoplastic polystyrene (EPS) foam is also used to insulate refrigeration cabinets. Polystyrene foam molded pieces are utilized in food and non-food packaging, various storage applications, and insulating boards and panels. EPS is a lightweight material that is used to make food packaging. Food containers constructed of XPS cost 40 to 55 per cent less than those made of comparable polymeric materials.
Factors Influencing The Global Polystyrene Foam Market
1. Expanding Urbanization
The primary drivers of the global polystyrene foam market include expanding urbanization, increased demand for energy efficiency and fire safety policies, and increased use of polystyrene packaging solutions. Countries improve fundamental public services and infrastructure around large industrial sites to speed up the pace of industrialization. More residential and commercial infrastructure can be built as a result of this.
2. Need for Insulation
The need for EPS foam thermal and moisture insulation boards has increased as buildings become more energy efficient. Insulation manufacturers will have a new opportunity as building energy requirements change. For example, according to the Energy Performance of Buildings Directive (EPBD), all new buildings must be almost zero-energy by December 2020. (nZEBs). Simply said, buildings must employ a significant amount of thermal insulation, which drives insulation materials sales. As a result, this adjustment in legislation will benefit both EPS and XPS foam materials.
3. Growth in e-Retailers
Furthermore, due to the growing presence of e-retailers such as Amazon and Aliexpress, non-food packaging, such as electronics and electrical appliances, has seen an increase in demand in recent years.
4. Rising Demand for Food and Beverage Packaging
The worldwide food and beverage sector is rapidly expanding, fueled by strong consumer demand for processed foods, which drives up demand for polystyrene foam.
5. Marine Flotation and Floating Decks Manufacturing
During the forecast period, the usage of Polystyrene in additional applications such as marine floatation and floating decks is expected to provide new opportunities for the Polystyrene foam market. EPS foam is used to make buoys, pontoons, and floating decks since it is a strong and lightweight material. EPS foam is utilized in floating platforms for boat or yacht landing areas and fishing areas because of its buoyancy and resilience.
The usage of polystyrene foam usage going to be skyrocketed in the forthcoming years across the globe. So you need to have a reliable market leader and provider of polystyrene in bulk quantities for your requirements.
Styrene Insulation Industry is the market leader in styrene production. We have experts to guide you to choose the right quality polystyrene for your needs. Feel free to contact us.