The United States Expandable Polystyrene market is primarily concerned with the manufacturing and distribution of Expandable Polystyrene which can be best described as a type of cellular lightweight plastic. It is primarily used in construction, packaging, and automotive industry.
As per Ken Research, the US Expandable Polystyrene market is anticipated to grow at a CAGR of ~$% in the next five years owing to rise in constructions held in the country, increase in automotive sales, and customer demands for sustainable packaging along with rapid urbanization.
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Rise in constructions, increase in demands for sustainable packaging, rise in automotive sales, and rapid urbanization are the various factors that are driving the US Expandable Polystyrene market. Constructions have been rising rapidly in the United States and expandable polystyrene is widely used in construction processes. Thus, as construction increases, the demand for Expandable Polystyrene also rises. Moreover, it is also used in automotive vehicles and in the US, almost 92% of the households have at least one automotive vehicle. Increasing automotive vehicles also raise the demand for Expandable Polystyrene. Nowadays, customers are also demanding for sustainable packaging. And since this compound is very eco-friendly, this also raises its demand. Lastly, Urbanization is also on the rise in the US which also increase the demand for this compound as urbanization results in more e-commerce, construction processes and automotive sales.
The expandable polystyrene (EPS) market in the United States comprises a dynamic ecosystem that encompasses various stakeholders, including manufacturers, suppliers, end-users, regulatory bodies, and consumers. EPS, a lightweight and versatile plastic material, is widely used for its thermal insulation properties, cushioning abilities, and cost-effectiveness across a range of industries.
Manufacturers form the foundation of the EPS market. These companies produce EPS beads, the raw material for EPS products, using a polymerization process involving styrene monomers. These beads are then expanded using steam to create the final foam product, which can be molded into shapes suitable for diverse applications.
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The construction industry is a major consumer of EPS products, utilizing them in the form of insulation panels, roofing materials, and geofoam for civil engineering projects. EPS finds applications in packaging as well, safeguarding delicate products during transportation due to its shock-absorbing qualities. Additionally, EPS is prevalent in the automotive, marine, and consumer goods sectors for its lightweight and insulating characteristics.
Suppliers play a vital role in the EPS ecosystem by providing manufacturers with essential additives, machinery, and equipment required for the production process. Regulatory bodies, such as the Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA), oversee the safety, environmental impact, and compliance of EPS products.
US Expandable Polystyrene Market analysis:
Expandable Polystyrene can be best described as a cellular plastic which is very lightweight and foamy. The key feature of this type of plastic is that it tends to be very environment friendly. It is used in wide variety of things such as cushioning, packaging, and construction.
There are various reason behind the increasing demands for Expandable Polystyrene such as rising automotive sales, increasing constructions, rapid urbanization and rising customer demands for sustainable packaging products.
This material is widely used in automotive vehicles such as in battery trays, mud shields, engine and AC?s air handling, electric insulators, etc. In the US, almost 15 million automotive vehicles were sold last year. The rising sales of automotive vehicles pose as a greater demand for Expandable Polystyrene.
70% of Expandable Polystyrene is used in construction processes. It is primarily used in the areas of insulation, lighting, soundproofing, etc. In the US, approximately USD 1.7 Tr was spent on constructions in 2022. As the construction rise in the country, the demand for Expandable Polystyrene will also rise.
Nowadays, people are more shifting towards sustainable packaging. In fact, almost 70% of the customers now choose products with sustainable packaging. Thus, their demands for sustainable packaging also raises the demand for Expandable Polystyrene as this compound is very sustainable.
There is a rapid urbanization in the United States. Last year, approximately 82% of the people were living in urban areas. The rapid rate of urbanization also increase the construction, e-commerce, and automotive vehicles sales. As a result, the demands for Expandable Urbanization also rise.
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Key trends by Market Segment:
By type: In 2022, Grey and Silver segment of Expandable Polystyrene. This type of Expandable Polystyrene ca be best described as an expandable polystyrene in which some amount of graphite is also added.
The reason behind its dominance in the US Expandable Polystyrene market is primarily due to the presence of graphite only. The addition of graphite in this compound provides it a good amount of strength. Moreover, this type of Expandable Polystyrene has high fire resistance and water resistance.
Also, this product is to be used in less quantity in comparison to the white expandable polystyrene if you are trying to achieving a level of strength. For example, if you are using 90mm of grey and silver expandable polystyrene then you would have to use 120 mm of white expandable polystyrene to achieve the strength of the grey and silver expandable polystyrene.
By End User: In 2022, the construction and building segment dominated the US Expandable Polystyrene market. Since the US is a well-developed nation, the construction processes in the country is on the rise.
In 2022, almost USD 1.7 Tr was spent on the construction in the US. The reason why the construction processes dominate the market is that in building, this compound is primarily used in various areas such as insulating roof systems, floors, external walls, foundations, etc. Another reason, why this compound is widely used is that it has the power of improving the insulation of any building irrespective of its new or old nature.
By Geography: In 2022, the east region of the USA dominated the US Expandable Polystyrene market. The main reasons behind this region being the dominant region is because of the presence of many metropolitan cities, many packaging, food and beverages companies.
The east region of USA primarily consists of Florida, Georgia, New York, Maine, Rhode Island, North Carolina, New Hampshire, South Carolina, Massachusetts, Connecticut, New Jersey, Delaware, Virginia, Maryland, and Georgia. Due to the presence of these major metropolitan cities, there is more requirement of EPS as the rate of urbanization, construction processes and presence of automotive vehicles is usually very high in such cities.
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Moreover, this region also has the presence of major packaging companies such as International Paper, West Rock, and Avery Denninson Corp. The presence of these major companies increase the packaging processes which ultimately require the use of Expandable Polystyrene.
There are also many well-established food and beverages companies such as Pepsi Co., The Coca Cola Company, and Nestle. As the food and beverage companies make use of packaging which ultimately use EPS, thus, these companies present in the Eastern region also helps in the growth of the US EPS market.
Furthermore, this region also has the presence of many major construction players such as Lennar Corporation and Betchel. The construction and buildings processes make a high use of EPS which results in the growth of the US EPS market. All these factors contribute in making this region as the dominant segment in the US EPS market.
The United States Expandable Polystyrene market has the presence of many well-established players that make both grey & silver and white Expandable Polystyrene to be used buildings, construction, packaging and automotive vehicles, etc.
The major players that are associated with making Expandable Polystyrene and have a dominant position in the US Expandable Polystyrene market include Flint Hills Resources, Epsilyte Holdings LLC, The Dow Chemical Company, Nexkemia, and Alpek S.A.B. de C.V.
With innovation, efficacy and pricing tactics these companies work to acquire the market share. The main focus of these companies to develop such Expandable Polystyrene products that are of good quality and provide not only great strength but also provide great insulation.
In August 2018, the acquisition of ACF foam technologies was done by Atlas Roofing with the aim of expanding the product portfolio of Atlas Roofing to ensure it has a strong position in the North American market.
In July 2022, Epsilyte Holdings LLC expanded their production facilities by expanding their plant situated in Illinois. They are expected to benefit with this plant with an increase of their production capacity increased by 11,300 tones/year.
In January 2023, the acquisition of Prevost was done by NexKemia to put concentrate on post-consumer recycled materials.
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The US Expandable Polystyrene is anticipated to grow at a CAGR of $% because of various reasons such as rise in construction processes, increase in automotive vehicles? sales, and rapid urbanization along with customers? demands for sustainable packaging.
As of now, the construction processes are on the rise in the United States. Last year, almost USD 1.7 Tr. was spent on the construction processes. This number has been only increasing over the years and is only projected to further increase in the upcoming years. The rise in construction processes will only increase the future demands for Expandable Polystyrene thereby contributing in the growth of US Expandable Polystyrene market.
Currently, the sales of automotive vehicles have been increasing in the US over the years. As of now, almost 92% of the households in the US have one automotive vehicles. Moreover, last year, almost 15 Mn. automotive vehicles were sold. This number is projected to further rise in the future which would increase the demand for Expandable Polystyrene.
In the US, almost 82% of the population now lives in the urban areas. This number is projected to reach 89% by 2050. With rapid urbanization, the construction processes are taken at large. E-commerce is greatly encouraged which boosts the packaging processes. Rapid urbanization also results in more automotive sales. All of these factors increase the sales for Expandable Polystyrene.
These days, customers demand sustainable packaging on their parcels. More than 70% of customers want sustainable packaging to be used. Expandable Polystyrene is an eco-friendly and environment friendly way of packaging things. The demands of using sustainable packaging will only rise in the future which will drive the US Expandable Polystyrene market.
Key Questions Market Research and Analysis Report
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