Global Specialty EPS Resin Market Size, Trends & Growth Opportunity, By Type (Colored (Grey, White, Black), and Graphite), By Function (Protection, Insulation, Cushioning, and others), By Application (Protective Packaging, Building & Construction, Automotive & Transportation, Electronic, and Healthcare), By Region and Forecast till 2027
Global Specialty EPS Resin Market
Global Specialty EPS Resins market was valued at US$ 9,008.7 Mn in 2021 and it is expected to reach at US$ 16,110.0 Mn by 2027, growing at CAGR 8.05% during the period, 2022-2027.
Over the forecast period, the global specialty EPS resin market is expected to grow due to an increase in demand for sustainable and lightweight solutions that provide extreme durability as well as improved thermal insulation. The increase in demand for acoustic and thermal insulation in the building and construction industry in developing countries such as China and India is expected to boost demand for high-quality polymers. Furthermore, the rise in consumer demand for long-lasting commercial and residential structures that can withstand extreme changes in the external environment is expected to drive market growth.
Market Drivers: 
Growing demand for specialty EPS in construction & packaging industries
In recognition of its closed-air low-thermal conductivity, mechanical resistance, lightweight, low water absorption, and sound resistance, expanded polystyrene (EPS) is used in the construction industry (in office & rooms). They provide tangible environmental benefits by increasing energy efficiency, improving indoor environmental quality, and increasing the durability of buildings and packaged products.
The packaging application segment's demand for specialty EPS is expected to generate significant revenue. It is due to EPS's excellent shock-absorbing properties that it is ideal for the storage and transportation of products such as healthcare and chemical products, electronics equipment, and consumer goods. The excellent moisture resistance and thermal insulation provided by EPS aid in the preservation of perishable products such as seafood and fruits and vegetables. Furthermore, the compression resistance of expanded polystyrene makes it ideal for stackable packaging goods. As a result, the excellent properties of Expanded Polystyrenes are significantly increasing their demand for packaging applications. This drives up demand for specialty EPS over the forecast period. This driver has a significant impact.
Market Restraints:
Few countries have banned the use of EPS products.
The EPS items have been prohibited in a few major economies. Styrofoam cups cannot be recycled because they have already been expanded, and producing these cups requires virgin polystyrene beads. Because EPS materials are not biodegradable, some consumers prefer not to use and dispose of Expanded Polystyrene coffee cups. Polystyrene foam single-service items such as bowls, cups, plates, take-out containers, trays, and polystyrene loose fill packaging, also known as packing peanuts, are among the prohibited items. However, some exceptions exist, including EPS containers used for prepackaged food that are filled and sealed prior to receipt by the food service establishment; mobile food stores; and containers used to store raw meat, fish, pork, seafood, or poultry sold from a butcher case or similar retail appliance.
EPS is prohibited in a number of countries, including New York, DC, Washington, Minneapolis, San Francisco, Oakland, Portland, Albany, and Seattle. This factor is impeding market growth. This constraint has a significant impact.
Market Opportunity: 
Product launch & product innovation creates new opportunities in the market 
Companies in the market are investing heavily in research and development in order to launch new products. This may open up new market opportunities.
BASF SE, for example, increased its global production capacity of graphite polystyrene rigid foam and a type of EPS by 40,000 metric tons per year in 2019. Capacity was increased at two production sites: Ulsan (Korea) and Ludwigshafen (Germany) (Germany). To improve the insulation property of the raw material, the organization switched the entire 85,000 metric tons capacity at the Ulsan production facility from classic white EPS to grey EPS. This change enabled BASF SE to meet the increasing demand for grey material in the APAC market.
Regional Analysis
North America is accounted for the highest market share in 2016. However, Asia pacific region is expected to grow at a healthy rate over the forecast period. 
In 2021, Asia Pacific led the market, accounting for more than 40.0% of global revenue. It is attributed to rising demand for the product in emerging economies such as China and India from applications such as automotive, packaging, and construction. APAC's construction industry is the fastest-growing market in the world. The rise in urbanization, increase in disposable income, and government initiatives such as India's "housing for all" project are propelling the region's construction industry forward.
Because of high demand from the automotive, packaging, and construction industries, Europe is the leading consumer of expanded polystyrene. Because of its versatile benefits, lightweight, easy molding, and desired shape formation, expanded polystyrene (EPS) is used in a variety of industries. In recent years, the demand for expanded polystyrene from green building design applications has increased significantly in the European market due to its excellent environmental benefits, which can offer improved indoor environmental quality, energy efficiency, and enhanced durability.
Recent Developments
In January 2020, Eni & PERTAMINA sign MOU to cooperate in the areas of circular economy, low carbon products & renewable energies. 
BEWiSynbra Group, a European producer of EPS, announced in June 2020 that it had signed an agreement to acquire a minority stake in a newly formed EPS insulation and packaging company based in the United Kingdom. The new company evolved from Styropack, a producer of EPS packaging, and manufacturer and supplier of EPS products for insulation and civil engineering applications. BEWiSynbra Group and parts of the current management will jointly own the new company. The company's name will be Jablite Group, and it will operate as a stand-alone entity in collaboration with BEWiSynbra Group.
Sekisui Chemical and Sumitomo Chemical announced their collaboration on the Circular Economy Initiative in February 2020, manufacturing polyolefin using waste as raw material. Two organizations have agreed to form a strategic alliance to benefit society by deploying technology for manufacturing polyolefin from waste. This collaboration combines SEKISUI CHEMICAL's waste-to-ethanol production technology with Sumitomo Chemical's polyolefin manufacturing expertise, promoting circular economy initiatives to chemically recycle waste into polyolefin. In fiscal 2022, SEKISUI CHEMICAL will convert waste into ethanol, and Sumitomo Chemical will use this ethanol as a raw material for polyolefin. The full-scale market launch of this manufacturing method is scheduled for fiscal 2025.
Market Segmentation
The market is segmented into type such as Colored (Grey, White, Black), and Graphite, by function such as Protection, Insulation, Cushioning, and others. Further, market is segmented into application such as Protective Packaging, Building & Construction, Automotive & Transportation, Electronic, and Healthcare.
Also, Global Specialty EPS Resin Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Some key players are listed in this report such as BASF SE, Sekisui Plastics Co., Ltd, SUNPOR KUNSTSTOFF Gmbh, Atlas EPS, VERSALIS, SABIC, LG Chem., Ltd., BEWiSynbra Group AB, Total S.A., etc.
Market Taxonomy
By Type
• Colored (Grey, White, Black) 
• Graphite
By Function
• Protection
• Insulation 
• Cushioning
• Others
By Application
• Protective Packaging
• Building & Construction
• Automotive & Transportation
• Electronic
• Healthcare
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Global Specialty EPS Resin Market TOC:
1 Introduction 
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Specialty EPS Resin Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Specialty EPS Resin Market, By Type
5.1 Y-o-Y Growth Comparison, By Type 
5.2 Global Specialty EPS Resin Market Share Analysis, By Type 
5.3 Global Specialty EPS Resin Market Size and Forecast, By Type
5.3.1 Colored (Grey, White, Black) 
5.3.2 Graphite
6 Global Specialty EPS Resin Market, By Function
6.1 Y-o-Y Growth Comparison, By Function
6.2 Global Specialty EPS Resin Market Share Analysis, By Function
6.3 Global Specialty EPS Resin Market Size and Forecast, By Function
6.3.1 Protection
6.3.2 Insulation 
6.3.3 Cushioning
6.3.4 Others
7 Global Specialty EPS Resin Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Specialty EPS Resin Market Share Analysis, By Application
7.3 Global Specialty EPS Resin Market Size and Forecast, By Application
7.3. 1 Protective Packaging
7.3.2 Building & Construction
7.3.3 Automotive & Transportation
7.3.4 Electronic
7.3.5 Healthcare
8Global Specialty EPS Resin Market, By Region
8.1 Global Specialty EPS Resin Market Share Analysis, By Region
8.2 Global Specialty EPS Resin Market Share Analysis, By Region
8.3 Global Specialty EPS Resin Market Size and Forecast, By Region
9 North America Specialty EPS Resin Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Specialty EPS Resin Market Share Analysis, By Type
9.3 North America Specialty EPS Resin Market Size and Forecast, By Function
9.4 North America Specialty EPS Resin Market Size and Forecast, By Application
9.5 North America Specialty EPS Resin Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10EuropeSpecialty EPS Resin Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Specialty EPS Resin Market Share Analysis, By Type 
10.3 Europe Specialty EPS Resin Market Size and Forecast, By Function 
10.4 Europe Specialty EPS Resin Market Size and Forecast, By Application
10.5 Europe Specialty EPS Resin Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11Asia Pacific Specialty EPS Resin Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Specialty EPS Resin Market Share Analysis, By Type 
11.3 Asia Pacific Specialty EPS Resin Market Size and Forecast, By Function 
11.4 Asia Pacific Specialty EPS Resin Market Size and Forecast, By Application
11.5 Asia Pacific Specialty EPS Resin Market Size and Forecast, By Country
11.5.1 China 
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12Latin America Specialty EPS Resin Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Specialty EPS Resin Market Share Analysis, By Type 
12.3 Latin America Specialty EPS Resin Market Size and Forecast, By Function 
12.4 Latin America Specialty EPS Resin Market Size and Forecast, By Application
12.5 Latin America Specialty EPS Resin Market Size and Forecast, Country
13Middle East Specialty EPS Resin Market Analysis and Forecast (2022-2027)
13.1 Introduction
 13.2 Middle East Specialty EPS Resin Market Share Analysis, By Type 
13.3 Middle East Specialty EPS Resin Market Size and Forecast, By Function 
13.4 Middle East Specialty EPS Resin Market Size and Forecast, By Application
13.5 Middle East Specialty EPS Resin Market Size and Forecast, By Country
14Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15Company Profiles
15.1 BASF SE
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. Sekisui Plastics Co., Ltd
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. SUNPOR KUNSTSTOFF Gmbh
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Atlas EPS
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 VERSALIS
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 SABIC
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 LG Chem., Ltd
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies 
15.8 BEWiSynbra Group AB
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Total S.A.
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies