Zion Market Research, the market research group announced the analysis report titled ‘Expanded Polystyrene Market (EPS): Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Expanded Polystyrene Market (EPS): Overview
The expanded polystyrene is a thermoplastic resin and it consists of an expanding agent. The various applications where the expanded polystyrene is used include medical supplies, food packaging, and electrical coatings. No halogen is used in the production of expandable polystyrene hence it is considered as environment-friendly. Expandable polystyrene is more widely used than the molded pulp as it has many advantages. Owing to this reason, government and other industrial organizations are shifting their packaging market towards the expandable polystyrene segment.
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Global Expanded Polystyrene Market (EPS): Segmentation
The expanded polystyrene is segmented globally into its type, application, and regions. On the basis of type, the global market is segregated into gray EPS and white EPS. Based on the application, the market is categorized into an automobile, marine, building & construction, sports & leisure, packaging, and medical. Region-wise, the expanded polystyrene market is diversified into Europe, Asia Pacific, North America, and Rest of the World.
Global Expanded Polystyrene Market (EPS): Growth Factors
The key factors that are driving the expanded polystyrene market include the expanding infrastructural industry and the increasing demand of the packaging industry. The expanded polystyrene has properties such as excellent thermal insulation, enhanced rigidity, and is light weight; hence, they are being used widely in various end-use industries as packaging material. Automotive and the electronic manufacturing industry require light weight materials, thus driving the demand of the market. In the construction industry, it is used for roofing applications and for flooring, thus boosting the market growth. There are other applications where expanded polystyrene is used such as disposable razors, Petri dishes, plastic cutlery, and CD cases, thus driving the demand of the market. The factors that hamper the market growth include the stringent environment regulations and the volatile price of the raw materials.
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Global Expanded Polystyrene Market (EPS): Regional Analysis
The region that dominates the expanded polystyrene market is Asia Pacific region. Asia Pacific region dominates the market both in terms of production and consumption of expanded polystyrene. The emerging countries such as China and India are the major consumers of the market. The food and beverages industry and the construction sector have the major demand for the expanded polystyrene in China. The EPS market is flourishing in the countries such as Malaysia and Philippines. Asia Pacific region is followed by Europe and North America. In Europe, the pharmaceutical industry has good demand for expanded polystyrene thus triggering the market growth. The expanded polystyrene market in the North American region is growing at a very slow pace. There is an increasing infrastructure spending in the emerging economies such as South Africa, China, Brazil, and India, thus boosting the market growth.
Global Expanded Polystyrene Market (EPS): Competitive Players
The key market players in the expanded polystyrene market include Total S.A., Kaneka Corporation, PJSC Sibur Holding, ACH Foam Technologies, LLC, Support Kunststoff GmbH, BASF SE, Synthos S.A., Saudi Basic Industries Corporation, Synbra Holding B.V., Alpek SAB de CV, and Ineos Styrenics International SA.
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Global Expanded Polystyrene Market (EPS) by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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