Latest Report Titled On:- Global Expanded Polystyrene Market (EPS) – Segmentation by Application and Geography – Growth, Trends and Forecast (2018 – 2023)
Global “Expanded Polystyrene Market” report provides a detailed analysis of the market from 2018 to 2023. Expanded Polystyrene market report focuses on market capacity, share, current market trends and upcoming future predictions. Global Expanded Polystyrene Market is expected to register a CAGR of approximately XX% during the forecast period of (2018 – 2023).
360 MARKET UPDATES Report provides a 360-degree overview of the global Expanded Polystyrene Market with special emphasis on all aspects including CAGR Status, drivers, restraints, and opportunities, market and regional segmentation.
Expanded Polystyrene Market Report Covers Leading Manufacturers: BASF SE, Alpek, Eastchem A.S., Flint Hills Resources, Formosa Plastics Group, Ineos Styrenics, Jiangsu Nijiaxiang Chemical Co., Ltd., Jiangyin Sunping New Material Co., Ltd., Kaneka Corporation, Lanxess AG, Loyal Group, Ming Dih Group Corp, Murata Manufacturing, Nova Chemicals Corporation, Owens Corning, Plasti-Fab, Polimeri Europa, Polioles SA de CV, SABIC , StyroChem, Styrolution Group GMBH, Styron LLC, Sunde Group, Sunpor Kunststoff GmbH, Supreme Petrochem Ltd., Synthos SA, Taita Chemical, Thai ABS Co. Ltd., DowDuPont, Tianjin Jiatai Weiye Chemical Co., Ltd.
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The overall demand of expanded polystyrene market (EPS) is expected to grow at a significant rate during the forecast period. Building & insulation and packaging are the major application of EPS, collectively accounting for about 90% of the market share. Growing demand for expanded polystyrene in consumer electronics and food processing industries are projected to play a key role in driving the market.
Growth in Construction Industry in Asia-Pacific Region
The global construction sector is expected to expand by an annual average of 3.2% for the next decade to a nominal value of more than USD 6.0 trillion. The Asia-Pacific construction industry is the fastest growing market among all regions and will account for the largest share in the construction market in the world. Many schemes and projects such as housing for all in India give acceleration to the construction industry in this region. Similarly, the One Belt One Road Initiative by China to make a road and marine network from China to Italy to provide acceleration to commercial activities will give boost to the construction industry during the forecast period. Rapid increase in population, especially in China and India will give a rise in construction activity in developing countries.
Building and Construction The fastest growing segment by usage
Building and Construction sector finds expandable polystyrene employed in several applications, such as floor insulation, insulation foam for cavity walls and roofs due to its structural integrity and design flexibility qualities. Increasing energy prices are forcing consumers to work towards developing thermal efficiency of constructions to reduce their energy consumption; this, in turn, is driving the market for EPS-based roofing systems. The key areas of expected growth in construction market are transport, energy, social infrastructure, schools, defense infrastructure etc. Owing to the growing construction industry, the utilization of EPS for various insulation and roofing purposes is expected to increase significantly, further boosting the market for EPS products.
Asia-Pacific Dominates the Market
Asia is the world’s largest construction market across the globe, with an annual average growth of 4.1% between 2018 and 2023 and the region will account for approximately 40% of the world’s construction industry value by 2023. Currently, Asia-Pacific dominates the market for EPS with almost half of the global revenue share, followed by North America and Europe. China alone contributes to 40% of the global consumption in this market. Large population and growing activities in construction and packaging industries across Asia-Pacific are contributing to the higher consumption in this region.
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Reasons to Purchase Expanded Polystyrene Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
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