Expanded Polystyrene Pricing Report

Expanded Polystyrene Prices December 2023

In the last quarter of 2023, there was an approximately 2% decrease in prices due to reduced demand from the construction sector and weak product exports affecting the packaging sector. This, in turn, resulted in lowered commodity prices and compelled multiple sellers to provide discounts on the material. However, the increasing feedstock styrene prices led to the production costs of EPS later in August, which directly impacted the final product's market price.  Thus, the price for expanded polystyrene grey DEL Texas in the USA was 1910 USD/MT at the quarter's close in December 2023.

Expanded Polystyrene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Expanded Polystyrene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of expanded polystyrene pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing expanded polystyrene price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Expanded Polystyrene Market Analysis

The global expanded polystyrene market size reached US$ 10.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 15.2 Billion, at a projected CAGR of 3.80% during 2023-2032.

• Rapid expansion of the automotive sector, which utilizes EPS for components that contribute to vehicle safety and fuel efficiency, underscores the material's integral role.
• Urbanization and industrial development continue to increase, and the need for efficient insulation materials in the construction industry has become more pronounced, propelling the market forward.
• The versatility of EPS allows for its customization in various applications, ranging from flotation devices in marine applications to lightweight construction blocks, catering to a broad spectrum of industrial needs.
• Strategic collaborations and research initiatives aimed at enhancing EPS properties for specific industrial applications further stimulate market growth, ensuring EPS remains at the forefront of material innovation and application diversity.
• The healthcare sector’s rising reliance on EPS for the safe transport of medical equipment and sensitive pharmaceuticals, owing to its insulative and hygienic properties, represents another growth avenue.
• Continual advancement in EPS recycling techniques and the development of biodegradable EPS alternatives, which address environmental concerns and regulatory pressures for sustainable materials.
• Ongoing development of smart and sustainable cities also presents new opportunities for EPS usage, especially in innovative urban infrastructure projects that prioritize energy efficiency and environmental conservation.
• Government and regulatory bodies worldwide are implementing policies that favor energy-saving materials, providing a regulatory push that complements the market's natural growth.
• The increasing consumer awareness and demand for sustainable living practices encourage industries to adopt eco-friendly materials like EPS, further enriching its market expansion and diversification.
• The augmenting demand for lightweight and efficient packaging solutions in the logistics and e-commerce sectors, particularly in emerging economies, the need for durable, cost-effective packaging that ensures product safety during transit is more crucial than ever.
• Changing demographic shifts, such as urban migration, increase the need for urban infrastructure and housing, further providing a boost to EPS demand.
• Increasing consumer awareness about the benefits of EPS, particularly its insulation properties and impact on energy efficiency, supports market growth.

Expanded Polystyrene News

The report covers the latest developments, updates, and trends impacting the global expanded polystyrene market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in expanded polystyrene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the expanded polystyrene industry:

• On September 21, 2023, BASF launched "MyCarbonFootprint", a digital app for customers to calibrate their purchase about BASF products like CO2 savings and share of renewables. The 700 products, including pharma ingredients and amino resins, are going to be featured and it was only initially made available to select customers with over 50 users having this already.
• On March 14, 2024,  NOVA Chemicals Corporation launched its Centre of Excellence for Plastics Circularity, a collaborative hub aimed at advancing the circular economy for plastics through knowledge sharing and technology development, involving industry innovators and Canadian research institutions.
• In March 2022, Synthos and OMV have vowed to supply sustainable butadiene for the eco-friendly synthetic rubber in tires using renewable resources while targeting reduced CO2 emissions and transition to circular economy with the pyrolysis oil from the end-of-life tires by 2030. Their collaboration will contribute to the tire industry sustainability targets and Synthos has already examined OMV's butadiene recycling that aligns with their 100% sustainable products by 2030 plan. OMV aspires to become one of the leading producers of environment-friendly chemicals aiming at 300,000 tonnes of production by 2030.

Product Description

Extruded polystyrene (EPS) is an open-cell, plastic foam insulation material constructed from beads of solid polystyrene. The manufacturing process contains this bead expansion method as its key process wherein in intense heat, the beads fuse, producing a material that is both tough and weightless.

In construction, EPS is majorly applied for the insulation of walls, roofs, and foundations as a result of its capacity to reduce energy consumption and promote the sustainability of buildings. EPS keeps packages safe, which is one of the reasons that packaging business people like it. It can support fragile packaging because of its shock-absorbing capabilities.

In addition, EPS is not only used in the manufacture of disposable cups, and helmets but also in making floating devices, showcasing its versatility. The advantages of EPS are many; they include low costs, strength, and lightweight nature, which make the costs for shipping and installation easier. It is recyclable therefore lowers considerably the environmental impact and this stresses its suitability in various sustainable development practices.

Regional Coverage

The report provides a detailed analysis of the expanded polystyrene market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.

Global Expanded Polystyrene Price

The report offers a holistic view of the global expanded polystyrene pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Expanded Polystyrene Price

In Q4 2023, the European EPS market faced a downturn, with an ample supply leading to price drops of 7.7% in Rotterdam, 7.4% in Hamburg, and 1.4% in Felixstowe, UK, due to high material availability and declining Styrene costs, reducing production expenses. Antwerp, Belgium, also saw significant price adjustments, reflecting a surplus from manufacturing and stable supply trends.

This analysis can be extended to include detailed expanded polystyrene price information for a comprehensive list of countries.

North America Expanded Polystyrene Price

The trends of Q4 2023 in North American Expanded Polystyrene (EPS) market involved a stable supply chain, moderate demand, and a steady pricing environment. The functioning of the market, in which supply and demand adjustments prevail, rendered the market a dependable and sustainable pricing foundation. Styrene prices for feedstock declined though the market endured the same stability due to continuous high demand from downstream areas, as targeted at the automotive and construction industries.

Specific data on expanded polystyrene prices within the United States and Canada can also be provided.

Middle East and Africa Expanded Polystyrene Price

The report explores the expanded polystyrene pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on expanded polystyrene prices for countries can also be provided.

Asia Pacific Expanded Polystyrene Price

In Q4 2023, the Asia Pacific EPS market remained stable, marked by a consistent supply, moderate demand, and steady prices, despite a drop in Styrene costs. The balance was due to weak demand from key sectors like automotive and construction, affecting Styrene prices and leading to limited market uptake.

This analysis can be further extended to include detailed expanded polystyrene prices for a comprehensive list of countries within the region.

Latin America Expanded Polystyrene Price

The analysis of expanded polystyrene prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of expanded polystyrene pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting expanded polystyrene price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the expanded polystyrene industry.