The global expanded polystyrene market to grow at a CAGR of 6.27% during the period 2017-2021.
This report, Global Expanded Polystyrene Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is increasing number of manufacturers in APAC. Lower supply constraints in Europe, following the establishment of new polymer foam oduction facilities in China, is likely to restrict the oduction, thereby reducing the cost of the oduct.
According to the report, one of the major drivers for this market is high demand from emerging economies. The global EPS market is witnessing high growth in emerging economies, such as Brazil, China, Russia, Turkey, Indonesia, South Korea, Mexico, and India. Many OEMs, such as automotive manufacturers, are shifting their manufacturing operations to these countries due to factors such as the availability of land, cheap labor, low transportation costs, and lenient government norms.