Expanded Polystyrene (EPS) is a thermoplastic product manufactured by using polystyrene beads. It is composed of a large number of styrene monomers which are linked together to form polystyrene by polymerization process. The lightweight, durable, moisture resistance, versatile and easy use properties of the product are the important trends and factors influencing the market confidently. Therefore, they are used in various applications such as construction & buildings, packaging, automotive, and others. As per our analysis, the Global Expanded Polystyrene Market is bifurcated into type and application. The market by type is further divided into white, grey, and black Expanded Polystyrenes. Among these, the white Expanded Polystyrene segment holds a major portion of the market on account of its growing use in packaging applications such egg trays, fast foods owing to its cost effective, convenient to use, and versatile nature. Moreover, the grey Expanded Polystyrene segment is predicted to witness a moderate growth in the market due to its high cost of production. Construction & buildings, packaging, automotive, and others are segregated on the basis of application. Among these, the packaging segment is set to grow at a higher rate on account of growing demand for vegetables, fish, poultry, and others. The automotive segment is set to grow at a higher CAGR on account of increasing substitution of heavy metals by lightweight materials.

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Key Players

BASF SE (Germany), ACH Foam Technologies, Inc (U.S.), Kaneka Corporation (Japan), SABIC (Saudi Arabia), Alpek S.A.B. de C.V (Mexico), Synbra Holding bv (the Netherlands), NOVA Chemicals Corporation (Canada), StyroChem® (Canada), Unipol Holland B.V. (the Netherlands), and Versalis S.p.A (Italy), among others are some of the prominent players at the forefront of competition in the Global Expanded polystyrene Market and are profiled in MRFR Analysis.

Expanded Polystyrene Market- Segmental Analysis:

The Global Expanded Polystyrene Market is segmented into type, and application. On the basis of the type, the market is further categorized into white, grey and black expanded polystyrenes. Among these, the white Expanded Polystyrene segment holds a majority of the market share due to extraordinary features offered by the product such as water-resistance and reliable nature. The grey Expanded Polystyrene segment is projected to witness a mediocre growth in the market due to its high cost of production than other segments. The market by application is further categorized into construction & buildings, packaging, automotive, and others. Among these, the packaging segment is accounts for major share of the market owing to growing popularity of applications such as egg trays, fast foods, vegetables, fish, and poultry. Additionally, the automotive segment is set to grow at a higher rate in the market due to growing consumption of product in manufacturing high standard and efficient vehicles. Therefore, the recyclable ability, safety and a biocompatible nature are the major reasons behind the consumption of polystyrenes in most of the end use industries.

Industry/ Innovation/ Related News:

June 2, 2016 – BASF SE (Germany), one of the leading producers of expanded polystyrene, declared that the company has decided to offer their collection of product services involving graphitic silver-grey Neopor®product to China. The raw materials utilized for the production of thermal insulation materials were included in this service. One of the sources of the company also announced that the graphitic silver-grey Neopor®product can be utilized in end-use industries such as automobiles, construction, electronics, and others. Therefore, these factors are expected to drive the market over the assessment period.

May 24, 2016 – BASF SE (Germany), one of the prominent manufacturers of expanded polystyrene, declared that the company has developed Neopor® Graphite-enhanced Polystyrene (GPS), the only product produced along with a flame retardant. This product has been known for high insulation quality, ease of application, safety, and others. One of the sources of the company also announced that the product was launched to expand its business in the market. Therefore, these factors are expected to drive the market over the assessment period.

Expanded Polystyrene Market - Regional Analysis:

The Expanded Polystyrene Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the market due to the growing consumption of lightweight materials in construction & buildings, packaging, automotive, and others. The packaging segment holds the major portion of the market due to growing replacement of cardboard products in the industry. Thus, this segment is predicted to witness a rapid growth in the market during the forecast period. Therefore, countries such as China, Japan and India are the major players in this market. The North America region is growing significantly due to an increased consumption of polystyrene in packaging, construction & buildings, and others. It is predicted that rising disposable income and increasing investments in the end-use industries are likely to drive the market during the forecast period. The growing consumption of polystyrene product in construction & buildings has propelled the countries such as the U.S., Canada and Mexico to achieve a stunning growth in the market. Browse the market data and information spread across 138 pages with 36 data tables and 11 figures of the report “Expanded Polystyrene Market Information is bifurcated type and application Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/expanded-polystyrene-market-4834

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