Market Research Report
Expanded Polystyrene (EPS) Market by Product Type (White, Grey, Black), End-use Industry (Building & Construction, Packaging, Others), and Region (Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||285597|
|Published||Content info||153 Pages
Delivery time: 1-2 business days
|Expanded Polystyrene (EPS) Market by Product Type (White, Grey, Black), End-use Industry (Building & Construction, Packaging, Others), and Region (Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2023|
|Published: October 30, 2018||Content info: 153 Pages||
"Growing construction and packaging industries is expected to drive the overall growth of EPS market"
The EPS market is expected to grow from USD 15.5 billion in 2018 to USD 20.1 billion by 2023, at a CAGR of 5.3% during the forecast period. The EPS market is driven by the growing construction and packaging industries in developing countries. However, volatility in crude oil prices, availability of high-performance substitutes, and China's slowing economy can hinder the growth of the market.
Grey EPS is the fastest-growing segment in the EPS market. Grey EPS is gradually penetrating the global market for the past 10 years. The less thermal conductivity and better insulation of grey EPS than white EPS are making it a preferable choice in the building & construction industry. Grey EPS has an additional elasticity, which improves sound insulation and also provides better thermal efficiency in comparison to the normal white EPS insulation.
The building & construction industry is the largest consumer of EPS in comparison to the packaging and other industries. EPS is an innovative material that offers design and structural integrity to many construction projects and possesses ideal physical and mechanical properties for most insulating needs. EPS is extensively used in the construction industry owing to the closed air low thermal conductivity, lightweight (ease of handling), mechanical resistance (insulation in wall structure and roofs & flooring), low water absorption (to prevent from humidity), and sound resistance (in office and rooms). These factors make the building & construction industry the largest and fastest-growing end-use industry for EPS.
APAC has emerged as the leading consumer and producer of EPS owing to the increasing demand from the domestic front and rising income levels. The easy availability of low-cost labor and economical & accessible raw materials are increasing the production of EPS in the region, thereby driving foreign investments. APAC is also the largest and the fastest-growing EPS market. The government proposals to improve public infrastructure and rising cash-intensive non-residential construction are positively impacting the market growth. The demand in APAC will further increase in the next five years because of several on-going and upcoming building & construction projects in the developing countries.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the EPS marketplace.
The EPS market comprises major solution providers, such as Wuxi Xingda (China), Synthos (Poland), BASF (Germany), Total (France), SUNPOR KUNSTSTOFF (Austria), The Ravago Group (Belgium), Alpek (Mexico), VERSALIS (Italy), Nova Chemicals (US), Flint Hills Resources (US), PJSC SIBUR HOLDING (Russia), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), Kaneka Corporation (Japan), Atlas Roofing Corporation (US), BEWiSynbra Group (Sweden), Brødr. Sunde A/S (Norway), Nexkemia Petrochemicals (Canada), and Unipol Holland (Netherlands). The study includes in-depth competitive analysis of these key players in the EPS market, with their company profiles, recent developments, and key market strategies.
The market study covers the EPS market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as product type, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall EPS market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.