Expanded Polystyrene Market
Expanded polystyrene or EPS is made up of styrene monomers and pentane. Pentane acts as the expanding agent in expanded polystyrene. It is an excellent material for construction and packaging, due to its lightweight and rigid foam with high impact resistance and good thermal insulation. Expanded polystyrene is available in a multitude of shapes and applications. It is used for electrical consumer goods packaging, fish boxes, and insulation panels in buildings.
The growing construction industry across the globe is expected to drive the global expanded polystyrene market in the future, as expanded polystyrene is widely used in roofing and flooring of buildings. The increase in the residential and commercial construction activities globally is projected to further boost the expanded polystyrene market growth globally in the years ahead. However, the oscillating prices of raw materials and stringent environmental regulations might hamper the expanded polystyrene market on a global scale. Conversely, the growing demand for recycled polystyrene products across the world is projected to provide new growth opportunities for the expanded polystyrene market in the upcoming years.
The global expanded polystyrene market is classified based on the product type and end-user industry. Based on product type, the global expanded polystyrene market includes grey, white, and black. White expanded polystyrene dominated the market in 2017 and is projected to continue its dominance throughout the forecast time period as well. This can be attributed to its excellent properties, such as superior mechanical durability and water resistance. Based on end-use industry, the global expanded polystyrene market includes packaging, building and construction, electrical and electronics, consumer goods, and others. The building and construction sector was the largest consumer of expanded polystyrene in 2017, due to the various advantages of expanded polystyrene, such as energy efficiency, enhanced durability, and improved indoor environmental quality. It is also widely used in the construction industry.
By region, the global expanded polystyrene market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. The Asia Pacific region is likely to be the largest expanded polystyrene market and held the largest market share globally in 2017. This can be attributed to the rapidly growing construction industry in the Asia Pacific, which makes use of expanded polystyrene as an essential raw material. Additionally, the region’s flourishing packaging is projected to further boost the Asia Pacific expanded polystyrene market in the future.
Some key manufacturers of the global expanded polystyrene market are Kaneka Corporation, Total S.A., ACH Foam Technologies, PJSC Sibur Holding, LLC, BASF SE, Support Kunststoff GmbH, Saudi Basic Industries Corporation, Synthos S.A., Synbra Holding B.V., Ineos Styrenics International SA, and Alpek SAB de CV, among others.
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