스티로폼(EPS)은 스티렌을 원료로 하는 제품 중 가장 광범위하게 생산되고 있으며, 스티렌의 유도체 중 두 번째로 큰 제품이며, EPS는 주로 펜탄을 이용한 현탁법으로 생산되며, 단열재, 포장, 공조, 폼 제품 등 다양한 용도로 사용되고 있습니다. 가장 성장 가능성이 높은 분야는 건설 산업에서 단열 보드에 대한 수요입니다. 다른 폴리스티렌에 비해 EPS의 가격은 비교적 안정적인 경향이 있으며, 그 변동은 스티렌 가격의 움직임과 밀접한 관련이 있습니다. 건설 부문과 포장 부문을 합치면 EPS 시장 총 소비량의 80% 이상을 차지합니다.
세계 수급 동향
2024년 세계 EPS 생산능력은 12,000 킬로톤을 넘어 2016년에 비해 700 킬로톤 이상 증가했으며, 2032년까지 생산능력은 주로 아시아와 중동 및 아프리카의 확장을 통해 연평균 100 킬로톤씩 증가할 것으로 예측됩니다. 중국이 6,500 킬로톤이 넘는 최대 EPS 생산능력으로 시장을 주도할 것으로 예상되며, 서유럽이 그 뒤를 이을 것으로 예측됩니다.
지역 수요 분석
아시아태평양은 여전히 EPS의 가장 큰 시장으로 세계 소비량의 55-60%를 차지하고 있으며, 서유럽이 그 뒤를 잇고 있습니다. 이 지역의 주요 국가로는 중국, 일본, 한국, 대만 등이 있습니다. 중국만 해도 이 지역 EPS 공급의 약 80%를 소비하며, 전 세계 EPS 수요의 44%를 차지합니다. 중국의 주요 성장 촉진요인은 건설, 포장, 전기 및 전자 부문으로, 이들 부문을 합치면 중국 EPS 소비의 90% 이상을 차지합니다. 지역 전체에서 소비자의 구매력과 생활수준이 지속적으로 향상됨에 따라 EPS 수요는 더욱 증가할 것으로 예측됩니다.
투자비용과 경영비용의 감소로 인해 많은 제조업체들이 중국에 제조공장을 설립하게 되었고, 현재 중국은 전 세계 EPS 생산능력의 약 45%를 차지하게 되었습니다. 중국의 건설 부문은 최근 수년간 둔화되었지만, 포장용 EPS에 대한 수요 증가는 이러한 하락을 보완하고 있습니다. 신흥 시장의 인구 증가와 경제 발전으로 인해 EPS 수요는 계속 증가할 것으로 예측됩니다. 전체적으로 세계 EPS 시장은 2032년까지 연평균 3-4%의 성장률을 보일 것으로 예측됩니다.
최근 EPS 시장의 발전
2024년 11월, Alpek은 2025년 1월까지 펜실베이니아주 모나카(Monaca) 시설에서 EPS 생산을 중단할 계획을 발표했습니다. 2022년, EPSilyte는 일리노이주 시설에서 11kg의 EPS 생산량을 확대할 계획을 발표했으며, 2023년 말까지 완료할 예정입니다. 2022년 12월, Supreme Petrochem은 첸나이에 위치한 Manali 공장의 생산능력 업그레이드를 완료하여 EPS 생산량을 24kg에서 33kg으로 늘렸습니다. 2022년 3월, Supreme Petrochem은 마하라슈트라 주 나고타네(Nagotane) 시설의 확장 계획을 발표했으며, 2024년 말까지 생산 능력을 70kg에서 100kg으로 늘리는 것을 목표로 하고 있습니다. 이 프로젝트가 완료되면 회사의 EPS 생산 능력은 총 130 킬로톤에 달할 것으로 예측됩니다.
시장 성장 촉진요인 : 건설 업계 수요 증가
EPS 시장의 주요 촉진요인 중 하나는 건설 산업에서 에너지 효율적이고 비용 효율적인 단열재에 대한 수요가 증가하고 있다는 점입니다. 전 세계에서 에너지 절약에 대한 인식이 높아지고 건축 규제가 강화됨에 따라 EPS는 단열을 위한 신뢰할 수 있는 솔루션으로 부상하고 있으며, EPS는 시공이 용이하고 비용이 저렴하며 성능이 오래 지속되므로 주거용 및 상업용 건축 프로젝트 모두에서 선호되고 있습니다. 은 운송 비용과 탄소발자국을 줄여 EPS의 매력을 더욱 높여줍니다. 신흥 국가의 도시화와 가처분 소득 증가는 EPS 포장에 의존하는 소비재, 전자제품, 가전제품 수요를 촉진하고 있습니다. 제조 공정의 발전과 재활용 등 지속가능성에 대한 관심이 높아짐에 따라 다용도 친환경 소재인 EPS의 채택이 증가하고 있습니다. 이러한 요인들이 복합적으로 작용하여 EPS 세계 시장 성장세를 견인하고 있습니다.
세계의 발포스티롤(EPS) 시장에 대해 조사분석했으며, 시장 역학과 산업 동향, 각 부문 수급, 제조업체 개요 등의 정보를 제공하고 있습니다.
Expanded Polystyrene (EPS) is the most widely produced styrene-based products, ranking as the second-largest derivative of styrene. It is manufactured primarily through the suspension process using pentane, EPS is used in various applications including thermal insulation, packaging, air conditioning, and foam products. The strongest growth potential lies in the demand for thermal insulation boards in the construction industry. Compared to other forms of polystyrene, EPS prices tend to remain relatively stable, with fluctuations closely tied to styrene price movements. Combined, the construction and packaging sectors contribute to over 80% of total EPS market consumption.
Global Demand and Supply Trends
In 2024, global EPS production capacity exceeded more than 12,000 kilotons, representing an increase of over 700 kilotons since 2016. Looking ahead to 2032, capacity is projected to grow by an average of 100 kilotons annually, driven primarily by expansions in Asia and the Middle East & Africa. China leads the market with the largest EPS production capacity, surpassing 6,500 kilotons, followed by Western Europe.
Global EPS demand was estimated at around 8,200 kilotons in 2021, growing at an average annual rate of 2% over the previous five years. This growth has been largely driven by increasing demand from the construction, packaging, and consumer goods sectors. The market is expected to expand at a faster pace, with a projected average annual growth rate of 3.5% through 2032.
The construction industry accounts for more than 55% of global EPS demand, owing to the material's excellent insulation properties, lightweight structure, and durability. EPS is widely used in building walls, roofs, and cold storage facilities, playing a crucial role in improving the thermal efficiency and structural performance of buildings. In the packaging sector, EPS is highly valued for its shock-absorbing and insulating qualities. It is extensively used to protect home appliances, medical equipment, food and beverages, electronics, and other fragile items during transportation. In 2021, global EPS demand for packaging applications was estimated at approximately 2,000 kilotons and is expected to exceed 2,750 kilotons by 2032, growing at a compound annual growth rate (CAGR) of 4%.
Besides construction and packaging, EPS is also utilized in industrial applications such as molding, prototyping, and display products. The electrical and electronics industry benefits from EPS's superior insulation properties, while the automotive sector uses EPS to produce lightweight components that improve fuel efficiency. Overall, the construction industry remains the largest and most vital end-use segment, particularly for residential and commercial insulation projects where energy conservation is a top priority.
Regional Demand Analysis
The Asia-Pacific region remains the largest market for EPS, accounting for an estimated 55-60% of global consumption, followed by Western Europe. Key countries in this region include China, Japan, South Korea, and Taiwan. China alone consumes around 80% of the regional EPS supply and represents 44% of global EPS demand. The primary growth drivers in China are the construction, packaging, and electrical and electronics sectors, which together account for more than 90% of the country's EPS consumption. As consumer purchasing power and living standards continue to improve across the region, EPS demand is expected to rise further.
Lower investment and operational costs have encouraged many producers to establish manufacturing plants in China, which now holds approximately 45% of the world's EPS production capacity. Although China's construction sector has recently slowed, rising demand for EPS in packaging has helped offset this decline. With growing populations and ongoing economic development in emerging markets, EPS demand is expected to maintain its upward trajectory. Overall, the global EPS market is projected to grow at a compound annual growth rate (CAGR) of 3-4% through 2032.
Key Manufacturers
Leading EPS producers in the Asia-Pacific region include LG Chemical, Korea Kumho Petrochemical Co Ltd (KKPC), SH Chemical Ltd, Supreme Petrochem, DIC Corporation, Toyo Styrene Co. Ltd, Kaneka Corp, Jiangsu Xinheqiao Chemical Co. Ltd, Jiangyin Nijiaxianj New Material, Loyal Group, Ming Dih Group, Taita Chemical, and Chi Mei. Prior to 2021, LG Polymers and Supreme Petrochem were the primary EPS producers in India. However, following a styrene gas leak incident in 2020, LG Polymers ceased operations, leaving Supreme Petrochem as the dominant EPS manufacturer in the country.
Recent Developments in the EPS Market
In November 2024, Alpek announced its plan to stop EPS production at its Monaca, Pennsylvania facility by January 2025. This move will reduce the company's overall EPS capacity by 123 kilo tons, from its global total of approximately 500 kilo tons. In 2022, Epsilyte declared plans to expand production at its Illinois facility by 11 kilo tons, with completion expected by the end of 2023. The company also initiated an engineering study for a potential further expansion of up to 100 kilo tons. In December 2022, Supreme Petrochem completed a capacity upgrade at its Manali plant in Chennai, increasing EPS output from 24 kilo tons to 33 kilo tons. In March 2022, Supreme Petrochem also announced a planned expansion of its Nagothane facility in Maharashtra, aiming to increase capacity from 70 kilo tons to 100 kilo tons by the end of 2024. Once completed, the company's total EPS capacity is expected to reach approximately 130 kilo tons.
Market Driver: Rising demand from the construction industry
One of the primary drivers for the EPS market is the increasing demand for energy-efficient and cost-effective insulation materials in the construction industry. With growing awareness around energy conservation and stringent building regulations across the globe, EPS has emerged as a reliable solution for thermal insulation. Its ease of installation, low cost, and long-lasting performance make it a preferred material in both residential and commercial construction projects. The lightweight nature of EPS reduces transportation costs and carbon footprint, further boosting its appeal. Urbanization and rising disposable incomes in emerging economies are also fueling the demand for consumer goods, electronics, and appliances that rely on EPS packaging. The advancements in manufacturing processes and increased focus on sustainability, including recycling initiatives, are supporting the adoption of EPS as a versatile and environmentally friendly material. Together, these factors are propelling steady growth in the global EPS market.
Note: Demand-Supply Analysis has been provided for all major Regions / Countries as mentioned below. The demand (consumption) split by applications has been provided for each of the countries/regions in Volume (Kilo tons) and Value (USD Million).
Note: CAGR will be calculated for all applications to arrive at the regional / global Demand-Supply growth for the forecast period (2025 - 2034)
Note: This section includes company information, company financials, manufacturing bases and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.