Market Research Report
Global Expanded Polystyrene (Eps) Market Forecast 2019-2028
|Published by||Inkwood Research||Product code||963266|
|Published||Content info||164 Pages
Delivery time: 2-3 business days
|Global Expanded Polystyrene (Eps) Market Forecast 2019-2028|
|Published: October 8, 2020||Content info: 164 Pages||
The global expanded polystyrene (EPS) market is expected to register a CAGR of 5.54% in terms of revenue, and 4.85% in terms of volume, during the forecast period, 2019-2028. The factors propelling the growth of the market are its benefits over other insulators, growing demand for lightweight materials in the automobile industry, and increasing demand in packaging and building & construction industries.
Expanded polystyrene (EPS) has a closed-cell structure and is a lightweight and rigid insulation material. EPS finds many applications in the building & construction that include large structures like bridges, public buildings, railway lines, roads, etc. The properties of EPS makes it a suitable application as insulation, lightweight filler, and an element for finishing touches. The ideal combination of physical and mechanical properties makes it a viable option for the construction industry. It provides architects and developers with optimal compressive strength, offering longevity at the same time, along with sustainable green credentials. EPS also finds major application in the packaging industry, since it is an ideal material for packaging. It is water-resistant, non-abrasive, and lightweight, with excellent cushioning abilities. Such factors make EPS the most sought material in the building & construction and packaging industries. However, since EPS is developed from crude oil, the volatile process of the latter directly impacts the costs of raw materials, thereby hindering the manufacturing process.
The global expanded polystyrene (EPS) market is geographically segmented into North America, Europe, Asia Pacific, and the rest of world. The region of Asia Pacific is set to be the leading region in the global market by 2028, by registering the highest CAGR in terms of revenue and volume. The rising construction and home renovation activities are contributing to the region's market growth.
The market is fragmented, which is attributed to the large number of companies involved in polystyrene manufacturing. Some of the top players with their established presence in the market include, Alpek S.A.B DE CV, BASF SE, Arkema SA, Evonik Industries AG, Kaneka Corporation, etc.