DUBLIN--(BUSINESS WIRE)--The "Expanded Polystyrene (EPS) Market by Product Type (White, Grey, Black), End-use Industry (Building & Construction, Packaging, Others), and Region (Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The EPS market is expected to grow from USD 15.5 billion in 2018 to USD 20.1 billion by 2023, at a CAGR of 5.3% during the forecast period.
The EPS market is driven by the growing construction and packaging industries in developing countries. However, volatility in crude oil prices, availability of high-performance substitutes, and China's slowing economy can hinder the growth of the market.
Increasing use of grey EPS is expected to drive the EPS market
Grey EPS is the fastest-growing segment in the EPS market. Grey EPS is gradually penetrating the global market for the past 10 years. The less thermal conductivity and better insulation of grey EPS than white EPS are making it a preferable choice in the building & construction industry. Grey EPS has an additional elasticity, which improves sound insulation and also provides better thermal efficiency in comparison to the normal white EPS insulation.
Building & construction to be the fastest growing end-use industry during the forecast period
The building & construction industry is the largest consumer of EPS in comparison to the packaging and other industries. EPS is an innovative material that offers design and structural integrity to many construction projects and possesses ideal physical and mechanical properties for most insulating needs.
EPS is extensively used in the construction industry owing to the closed air low thermal conductivity, lightweight (ease of handling), mechanical resistance (insulation in wall structure and roofs & flooring), low water absorption (to prevent from humidity), and sound resistance (in office and rooms). These factors make the building & construction industry the largest and fastest-growing end-use industry for EPS.
Market Dynamics
Drivers
- Growing Construction & Packaging Industries in Developing Countries
Restraints
- Volatility in Crude Oil Prices
- Availability of High-Performance Substitutes
- China's Slowing Economy
Opportunities
- Polystyrene Products Can be Recycled Easily
Challenges
- Growing Preference for Molded Pulp Packaging
- Ban on EPS in Major Economies
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Expanded Polystyrene Market, By Product Type
7 Expanded Polystyrene Market, By End-Use Industry
8 Expanded Polystyrene Market, By Region
9 Competitive Landscape
10 Company Profiles
- Alpek, S.A.B de C.V.
- Atlas Roofing Corporation
- BASF SE
- Bewisynbra Group
- BrdrSunde A/S
- Flint Hills Resources LLC
- Kaneka Corporation
- Nexkemia Petrochemicals Inc.
- Nova Chemicals Corporation
- PJSC Sibur Holding
- Saudi Basic Industries Corporation (SABIC)
- Sunpor Kunststoff GmbH
- Synthos S.A.
- The Ravago Group
- Total S.A.
- Unipol Holland B.V.
- Versalis S.P.A.
- Wuxi Xingda New Foam Plastics Materials Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/ssghlc/global_expanded?w=4
