Expanded Polystyrene Market Supported by Urban Housing Projects

The global expanded polystyrene (EPS) market size was estimated at USD 17.82 billion in 2024 and is projected to reach USD 29.04 billion by 2033, growing at a CAGR of 5.6% from 2025 to 2033. This growth is primarily driven by increasing social factors such as enhanced focus on occupant health, well-being, sustainable business practices, and community-centric development.

Key Market Trends & Insights

• Asia Pacific dominated the global expanded polystyrene market, contributing 41.06% of total revenue in 2024.
• China is expected to see rapid expansion due to fast urbanization, major infrastructure projects, and strong government backing for energy-efficient construction materials.
• By product, white EPS held the leading position with a 58.77% revenue share in 2024.
• By application, the construction sector remained dominant, accounting for 44.84% of global revenue in 2024.

Market Size & Forecast

• 2024 Market Size: USD 17.82 billion
• 2033 Market Size Projection: USD 29.04 billion
• CAGR (2025–2033): 5.6%
• Leading Region: Asia Pacific (2024)

The Expanded Polystyrene (EPS) market is expected to maintain steady growth, fuelled by rising demand across construction, packaging, automotive, and consumer goods industries. EPS continues to gain traction due to its lightweight structure, superior thermal insulation, impact resistance, and moisture-resistant properties. These attributes make it ideal for energy-efficient construction materials, protective packaging for fragile goods, and durable automotive components.

In the construction sector, EPS contributes significantly to improved energy conservation and operational cost savings. In the packaging sector, its shock absorption capabilities ensure safe and efficient transportation. The market is also benefitting from advancements in recycling technologies, stricter energy-efficiency standards, and widespread adoption of sustainable building materials globally.

Rapid urbanization, growing infrastructure investments, and booming e-commerce and retail activities further strengthen EPS adoption across multiple sectors. As industries prioritize performance, regulatory compliance, and cost efficiency, demand for EPS is expected to accelerate in the coming years.

Order a free sample PDF of the Expanded Polystyrene Market Intelligence Study, published by Grand View Research.

Key Expanded Polystyrene Market Company Insights

The EPS market remains in a medium but accelerating growth phase with diverse applications across major industries. While moderately fragmented, several key players hold substantial influence through product innovation, the introduction of recyclable EPS grades, and alignment with sustainability regulations. Prominent companies shaping the global market include:

• BASF SE
• Alpek S.A.B. de C.V.
• LG Chem
• KANEKA CORPORATION
• SIBUR
• SUNPOR
• Synthos
• TotalEnergies
• Supreme Petrochem Ltd
• NOVA Chemicals
• Epsilyte LLC
• Ravago
• Knauf Industries
• Versalis S.p.A.
• SABIC
• Taita Chemical Co., Ltd.
• NexKemia Petrochemicals Inc.

Conclusion

The expanded polystyrene market is set for sustained growth due to increasing adoption in construction, packaging, and automotive applications, supported by rising urbanization and infrastructure development worldwide. With strong contributions from Asia Pacific and ongoing advancements in recyclable and high-performance EPS grades, the market is poised to expand steadily through 2033. Companies focusing on sustainability, energy efficiency, and technological innovation are expected to capture strong opportunities in the evolving EPS landscape.

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