Expandable Polystyrene (EPS) -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2024

PUNE, MAHARASHTRA, INDIA, August 26, 2019 /EINPresswire.com/ -- Expandable Polystyrene (EPS) Industry

Description

The global market of EPS is on the rise. Expandable Polystrene is a lightweight product effective thermal insulation and damping properties. The wide range of applicability of the products is driving the growth of the global market.

The strong, durable, and pest-resistant properties of EPS increase its application in the building and construction industry. The use of EPS assists engineers and architects in developing ideal material for effective construction. The shock-absorbing property enhances its suitability for the storage as well as transportation of the fragile products. EPS finds a useful application in horticulture to boost aeration in the soil. The expansion of the global market of Expandable Polystyrene (EPS) is predicted by the year 2022.

Global Expandable Polystyrene (EPS) Sales Market: Market Segmentation

The market segmentation of the global Expandable Polystyrene (EPS) is based on product and end-user or application.

The global market depending on the type of product, is divided into Expandable Polystyrene beads and Expandable Polystyrene Foam.

Based on application, the global market is subdivided into General packaging and food packaging.

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Global Expandable Polystyrene (EPS) Sales Market: Regional Outlook

The global market of Expandable Polystyrene (EPS) includes the region of North America, Asia Pacific, Latin America, Europe, the Middle East, and Africa, and Japan. The Asia Pacific region has the maximum share of the global market. The increasing demand for packaging in the Asia Pacific region is the driving factor for the growth of the market.

The Middle East and Africa are expected to witness significant growth during the forecast period. The government policies and rise in export of electrical equipment drive the expansion of the Expandable Polystyrene market. The growing construction industry in Europe is expected to drive the growth of the market in the region.

Global Expandable Polystyrene (EPS) Sales Market: Major Players

The major players of Expandable Polystyrene (EPS) in the global market are The Dow Chemical Co., INEOS, BASF SE, Styron LLC, SABIC, Total Petrochemicals, Synthos, and Nova Chemicals Corporation. Other key players across the globe include Alpek, Kaneka Corporation, ACH Foam Technologies, SIBUR, Star Foam, Insulation Corporation of America, Ravago, and Sulzer.

The availability of better and green alternatives to Expandable Polystyrene with the high-performance ability and the volatility of the prices of crude oil are the key barriers limiting the market growth of Expandable Polystyrene.

The growth in the packaging and construction industry is the key driver of the global EPS market. The packaging is the major factor that fuels the expansion of the Expandable Polystyrene market. The high quality and shock resistance property of the product results in increasing demand in the packaging industry.

An increase in the spending of government towards the development of electronic and FMCG product packaging is expected to have a positive impact on market growth. The increase in the demand for effective packaging to ensure the safety of pharmaceutical products and freshness of food and beverages during transit is expected to boost the growth of the EPS market. 

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