Global EPS Market is expected to reach USD 26.58 Billion by 2028, according to a new report by Reports and Data. EPS is the commonly used industry name for rigid material produced from the expanded polystyrene beads. EPS is a rigid, lightweight, plastic foam insulating material made from solid beads of polystyrene.
The increasing prominence of insulation property in the building construction sector of developed economies comprising China and India is anticipated to support the usage of high-quality polymers. Moreover, an increase in spending for enhancing the longevity of residential buildings and commercial complexes in extreme, external environmental conditions is projected to stimulate the market demand for expanded polystyrene.
Increasing demand for cold chain packaging in the pharmaceutical sector for improving product safety and maintaining the freshness of the packaged products in the food and beverages industry during transportation is anticipated to boost the market growth. Besides, advancement in the frozen food industry in developed economies including the U.S. and Japan is expected to increase the scope of EPS in the packaging sector during the forecast period.
In recent years, increase in population and urbanization in emerging economies including Brazil, India and China have resulted in increased government spending on improving the manufacturing sector of packaging, construction, and automotive industries.
Availability of better substitutes for expanded polystyrene in the market is a significant restraint that may have a negative impact on the market demand.
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Key companies profiled in the report:
BASF SE,
S.C. Adeplast S.A.,
Sunpor Kunststoff GmbH,
Ineous Styrenics,
Universal Foam Products,
Styro Limited,
Nova Chemicals Corporation,
the Ravago Group,
Synthos S.A.,
and Versalis S.P.A among others.
Further key findings from the report suggest:
In June 2018, BASF, a significant player in the market, announced to increase its global production capacity for Neopor® (expandable polystyrene containing graphite) by an aggregate of 40,000 metric tons per year.
At the Ulsan site in Korea, BASF will switch the plant´s entire 85,000 metric tons capacity from the classic white EPS (expandable polystyrene) Styropor® to the improved insulation raw material Neopor (gray EPS) until end of 2018. This will allow the company to meet the growing demand for the gray material in the Asian market.
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The report also provides an insight about the manufacturing cost including upstream raw materials, overall production process, and industry chain analysis. The global EPS market research report provides a brief overview inclusive of competitive landscape and key developments, policies, manufacturing costs, and processes. It also covers analysis of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, corporate deals and partnerships, among others.
The chemicals and materials industry has witnessed significant revenue growth over the recent past owing to increasing demand for chemicals, raw materials, consumer products such as perfumes, soaps, and detergents, and plastics from various end-use industries. Chemicals and materials are widely used in various consumer goods and different sectors such as agriculture, construction, and petroleum refining, among others. Polymers occupy the largest revenue share of the global chemicals industry owing to increasing demand from packaging industry, construction markers, and home furnishing, among others. Increasing availability of raw materials at affordable costs, lower labor and energy costs, and rapid economic growth in developing regions is a key factors boosting revenue growth of the chemicals and materials industry and the trend is expected to continue going ahead.
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Global EPS Market Segmentation:
Product Type Outlook:
White Expanded Polystyrene
Grey Expanded Polystyrene
Black expanded Polystyrene
Application Outlook:
Insulation
Packaging
Foaming
Component Manufacturing
Chemical Intermediate
Regions Covered in This Report:
North America (the U.S., Mexico, and Canada)
Latin America (Brazil and Rest of Latin America)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Europe (the U.K., Germany, France, and Rest of Europe)
Middle East Africa (GCC Countries and Rest of Middle East Africa)
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