Market Overview:
Expanded Polystyrene (EPS) is a thermoplastic product
manufactured by using polystyrene beads. It is composed of many 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. Additionally, the construction & buildings is
predicted to witness a rapid growth due to growing consumption of polystyrene
in roofs, walls, and other structures.
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.
European market has also observed a remarkable growth due to
an implementation of new rules and regulations proposed by the government to
follow lightweight and biocompatible products in the industry. The market has
been driven by the application of this rule in the packaging and construction
& buildings sectors. It is estimated that the growing innovation and
technological advancement are predicted to propel the growth in the countries
such as the U.K, Italy, Germany, and France during the forecast period.
The Latin American region is estimated to witness a
recognized development in the market due to the growing consumption of low density,
humid resistant materials and rising awareness of eco- friendly products in the
industry. Moreover, the Middle East & Africa is anticipated to witness a
higher growth in the market due to increasing demand for expanded polystyrene
in construction & buildings, packaging and automotive sectors.
Global Key Players:
· BASF SE
· ACH Foam Technologies, Inc
· Kaneka Corporation
· SABIC
· Alpek S.A.B. de C.V
· Synbra Holding bv
· NOVA Chemicals Corporation
· StyroChem®
· Unipol Holland B.V.
· Versalis S.p.A
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.
Geographical Analysis:
The report covers brief analysis of the major geographic
regions namely Asia Pacific, Europe, North America, Latin America, and the
Middle East & Africa.
Intended Audience
- Expanded Polystyrene Market Manufacturers
- Traders and Distributors of Expanded Polystyrene Market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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