New York, NY, Jan. 24, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report “Expanded Polystyrene Market by Product Type (Grey, White, and Black) and by End-Use Industry (Packaging, Building & Construction, Electrical & Electronics, Consumer Goods, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019—2025”. According to the report, the global expanded polystyrene market was valued at USD 15.52 billion in 2018 and is expected to reach USD 22.13 billion by 2025, at a CAGR of 5.2% between 2019 and 2025.
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.
Browse through 71 Tables & 36 Figures spread over 110 Pages and in-depth TOC on “Global Expanded Polystyrene Market: Industry Size, Share, Demand, Applications, Growth, Analysis and Forecast, 2019—2025”.
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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.
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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. In 2017, China was the leading consumer of EPS and is expected to continue its dominance in this regional market in the future as well.
North America is the second largest expanded polystyrene market globally and is expected to grow significantly over the estimated timeframe. This growth can be attributed to the product’s durability, lightweightness, moisture resistance, thermal efficiency, and easy-to-use characteristics. The expanded polystyrene is widely used in the building and construction activities across the region. The growing demand for expanded polystyrene in the construction industry has propelled this market growth in North America.
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The European automotive industry is expanding at a high rate, which, in turn, is expected to increase the usage of expanded polystyrene to produce automotive ancillaries. Additionally, expanded polystyrene is extensively used in the construction sector for roofing and flooring to reduce carbon footprints and in-house temperature. Therefore, this is projected to expand the application scope of expanded polystyrene in the construction industry, thereby, propelling this regional market in the future.
Rapid industrialization in Latin America is likely to fuel the expanded polystyrene market over the estimated timeframe. Brazil is the largest consumer of expanded polystyrene within the region, due to its continuously growing construction and packaging industries, which is likely to increase the use of expanded polystyrene.
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The Middle Eastern and African expanded polystyrene market is predicted to grow substantially in the years ahead, due to extensive product usage in air conditioners, refrigerators, microwaves, ovens, vacuum cleaners, and blenders. Moreover, the rising demand for televisions, computers, and other electronic components is will increase the application landscape of expanded polystyrene, which, in turn, is expected to boost the region’s expanded polystyrene market in the upcoming years.
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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This report segments the global expanded polystyrene market as:
Global Expanded Polystyrene Market: Product Analysis
- White
- Grey
- Black
Global Expanded Polystyrene Market: End-Use Industry Analysis
- Building and Construction
- Electrical and Electronics
- Consumer Goods
- Packaging
- Others
Global Expanded Polystyrene Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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