Market Size – USD 15.35 billion in 2018, Market Growth – CAGR of 5.4%, Market Trends – Growing demand for consumer goods The global Expanded Polystyrene (EPS) Market is expected to reach USD 23.70 Billion by 2026, according to a new […]
Market Size – USD 15.35 billion in 2018, Market Growth – CAGR of 5.4%, Market Trends – Growing demand for consumer goods
The global Expanded Polystyrene (EPS) Market is expected to reach USD 23.70 Billion by 2026, according to a new report by Reports and Data. Expanded Polystyrene (EPS) is the commonly used industry name for rigid material produced from the expanded polystyrene beads. EPS is a rigid, lightweight, plastic foam insulating material made from solid beads of polystyrene.
The increasing prominence of insulation property in the building & construction sector of developed economies comprising China and India is anticipated to support the usage of high-quality polymers. Moreover, an increase in spending for enhancing the longevity of residential buildings and commercial complexes in extreme, external environmental conditions is projected to stimulate the market demand for expanded polystyrene.
Increasing demand for cold chain packaging in the pharmaceutical sector for improving product safety and maintaining the freshness of the packaged products in the food and beverages industry during transportation is anticipated to boost the market growth. Besides, advancement in the frozen food industry in developed economies including the U.S. and Japan is expected to increase the scope of EPS in the packaging sector during the forecast period.
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Regions Covered in This Report:
- North America(the U.S., Mexico, and Canada)
- Latin America(Brazil and Rest of Latin America)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(the U.K., Germany, France, and Rest of Europe)
- Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
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Global Expanded Polystyrene (EPS) Market Segmentation:
Product Type Outlook:
- White Expanded Polystyrene
- Grey Expanded Polystyrene
- Black expanded Polystyrene
- Component Manufacturing
- Chemical Intermediate
Key companies profiled in the report:
- BASF SE,
- C. Adeplast S.A.,
- Sunpor Kunststoff GmbH,
- Ineous Styrenics,
- Universal Foam Products,
- Styro Limited,
- Nova Chemicals Corporation,
- the Ravago Group,
- Synthos S.A.,
- and Versalis S.P.A among others.
To know more about the report @ https://www.reportsanddata.com/report-detail/expanded-polystyrene-eps-market
Further key findings from the report suggest:
- White EPS contributed to the largest market share in 2018 and is forecasted to have a growth rate of 5.4% in the forecast period. This can be attributed to the excellent thermal and mechanical properties, easy recyclability, and non-corrosive characteristics of white EPS. The thermal resistance of the white EPS depends on the density of the finished product and it does not diminish with time.
- The construction sector was a significant consumer of expanded polystyrene in 2018, owing to the several benefits of expanded polystyrene, like enhanced durability, energy efficiency, and improved indoor environmental quality in the constructed buildings.
- The Asia Pacific region contributed to the largest market share in 2018 and is expected to grow at a CAGR of 5.4% in the forecast period. The market dominance of Asia Pacific region is due to the rapid growth of the construction industry in the region, coupled with the extensive application of EPS in packaging.
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