About Expanded Polystyrene (EPS)
Expanded polystyrene (EPS) is a rigid and lightweight insulation material with various properties such as shock absorption, resistance to humidity, resistance to compression, retention to vitamin C, hygienic, and resistance to chemicals. It finds applications in the automotive, furnishing, packaging, and construction industry. he market is anticipated to grow substantially during the forecast period owing to a growing packaging industry in the developed economies. Additionally, recent technological advancements and product developments have provided a major thrust to the market’s growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Expanded Polystyrene (EPS) market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Wuxi Xingda (China), Synthos (Poland), BASF (Germany), Total (France), SUNPOR KUNSTSTOFF (Austria), The Ravago Group (Belgium), Alpek (Mexico), VERSALIS (Italy), Nova Chemicals (United States), Flint Hills Resources (United States) and PJSC SIBUR HOLDING (Russia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), Kaneka Corporation (Japan), Atlas Roofing Corporation (United States), BEWiSynbra Group (Sweden), Brødr. Sunde A/S (Norway), Nexkemia Petrochemicals (Canada) and Unipol Holland (Netherlands).
Segmentation Overview
AMA Research has segmented the market of Global Expanded Polystyrene (EPS) market by Type (White, Grey and Black) and Region.
On the basis of geography, the market of Expanded Polystyrene (EPS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
If we see Market by , the sub-segment i.e. will boost the Expanded Polystyrene (EPS) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Advantage Over Competitive Materials and Upsurging Construction and Packaging Industries in Developing Countries
Market Growth Drivers:
Increasing Demand due to Expanded Polystyrene (EPS) is employed in a major pharmaceutical industry application of cold chain packaging as it ensures product safety
Challenges:
Increasing Preference for Molded Pulp Packaging and Ban on EPS in Major Economies
Restraints:
Volatility in Crude Oil Prices, Availability of High-Performance Substitutes and China’s Slowing Economy
Opportunities:
Polystyrene Products Can Be Recycled Easily
In 2021, Synthos launched Synthos Synexil SAB 05, a dispersion for the creation of eco-friendly construction chemicals such as paints for children's rooms and for persons with allergies, is the new product. This is the company's answer to a genuine need and market trend to provide environmentally friendly items to customers.
Key Target Audience
Expanded Polystyrene (EPS) Manufacturer, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.