PUNE, India, October 26, 2015 /PRNewswire/ --
The report "Expanded Polystyrene Market (EPS) by Type (White EPS, & Grey EPS), by Application (Building & Construction, Packaging, & Others) & by Region - Global Forecast to 2020", published by MarketsandMarkets, The Expanded Polystyrene Market is projected to reach USD 17.74 Billion by 2020, at a CAGR of 6.03% between 2015 and 2020.
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Expanded Polystyrene (EPS) comprises polystyrene beads or micro-pellets containing a blowing agent and other additives for foaming. EPS offers excellent features such as insulation properties, durability, lightweight, and excellent processability. It serves applications such as thermal insulation board in buildings, packaging, cushioning of valuable goods, stand-up paddle boards, and food packaging, and so on. The excellent mechanical properties of EPS are rigorously utilized in combination with fast construction/assembly and low subsequent maintenance. Expanded polystyrene helps in energy conservation and is thus essential for the creation of green built spaces. In the last ten years, to improve the energy efficiency of the buildings, the grey EPS material, which have lesser thermal conductivities and also offers better insulation properties than the white EPS, have been developed on the global level.
The drivers identified for the Expanded Polystyrene Market are growing building & construction and packaging industries. In terms of demand, China is the largest market of expanded polystyrene. The market in the Middle East and Brazil are also growing but at a slow pace as compared to the countries in Asia-Pacific. In developed countries such as the U.S., France, Germany, Japan, and Italy, the market is growing at a low-to-moderate rate.
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Asia-Pacific is the largest market for expanded polystyrene, both in terms of volume and value, followed by Western Europe and North America. The key players in this market are BASF SE (Germany), Total S.A. (France), Synthos S.A. (Poland), Kaneka Corporation (Japan), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), PJSC SIBUR HOLDING (Russia), Alpek SAB de CV (Mexico), ACH Foam Technologies, LLC (U.S.), Ineos Styrenics International SA (Switzerland), SUNPOR KUNSTSTOFF GmbH (Austria), and Synbra Holding B.V. (The Netherlands), among others.
The expanded polystyrene market, in terms of value and volume, is estimated by considering the current and future projections according to the economic and industrial outlook. This analysis also covers important developments, expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.
The market size, in terms of value, of expanded polystyrene was estimated to be about USD 13.23 Billion in 2015 and is projected to reach USD 17.74 Billion by 2020, at a CAGR of 6.03% between 2015 and 2020.
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The growth drivers of the Expanded Polystyrene Market include the growing construction and packaging industries. The restraints of the market include volatility in crude oil prices, availability of high-performance substitutes, and Chinas slowing macroeconomic condition. Easy recycling feature of polystyrene products is an opportunity for the expanded polystyrene industry. The challenges faced by EPS manufacturers are growing preference for molded pulp packaging and ban of EPS in major economies.
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