Los Angeles, CA -- (SBWIRE) -- 11/12/2018 -- New report published by QY Research which offers insights on the global Expanded Polystyrene (EPS) market. The Expanded Polystyrene (EPS) market has been experiencing steady growth graph since past years. In 2018 the global Expanded Polystyrene (EPS) market was valued at US$ 20.91 Bn and by the end of the assessment year (2025), it is estimated to touch a growing at a value CAGR of 5.41% throughout the period of forecast.

Global Expanded Polystyrene (EPS) Market: Market Overview

EPS is a closed cell lightweight cellular plastics material produced from polystyrene. The material has been modified by the addition of flame retardant additives. Polystyrene literally translated is "polymerized styrene". That is, the single styrene molecules are chemically joined together to form a large molecule which is called the polymer.

Due to increasing rates of industrialization, growing construction and packaging industries, and increasing disposable income in developing countries in the Asia-Pacific and Latin America, there is an uptick in demand for EPS in these countries.

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Global Expanded Polystyrene (EPS) Market: Market Driver and Restraint

Rising importance of insulation property in the building sector of developed economies including China and India is expected to promote the usage of high-quality polymers. Furthermore, increasing spending toward enhancing the durability of commercial complexes and residential buildings during extreme external environmental factors is expected to over the next eight years.

Growing demand for cold chain packaging solutions in the pharmaceutical sector as a tool for improving product safety and keeping the freshness of packaged food fresh during transportation is expected to remain a key driving factor. Furthermore, improvement in the frozen food industry of major economies including the U.S. and Japan is projected to expand the scope of EPS in packaging sector in the near future.

Over the past few years, population growth and urbanization in emerging markets including Brazil, India and China have resulted in national governments for increasing the spending on improving to the manufacturing sector of packaging, construction and automotive industries. For instance, the government of India launched Make-In-India Policy in September 2014, which is aimed at promoting the investments in the manufacturing sector on a domestic level. These favorable government policies are expected to open new markets over the next eight years.

Global Expanded Polystyrene (EPS) Market: Forecast by Application

The building & construction sector finds expanded polystyrene useful in several applications, such as floor insulation, insulation foam for cavity walls, and roofs due to its structural integrity and design flexibility qualities. Increasing energy prices are forcing consumers to work towards developing thermal efficiency of constructions to reduce their energy consumption; this, in turn, is driving the market for EPS-based roofing systems. The key areas of expected growth in the construction market are transport, energy, social infrastructure, defense infrastructure, etc. Owing to the growing construction industry in countries like China, India etc., the utilization of EPS for various insulation and roofing purposes is expected to increase significantly, further boosting the market for EPS products.

Global Expanded Polystyrene (EPS) Market: Forecast by Form

White product forms accounted over 50% in 2018. The product segment is expected to witness significant gains in packaging sector on account of exhibiting excellent properties including water resistance and superior mechanical durability.

Grey EPS is projected to grow at a CAGR about 4.36% from 2018 to 2025. These products are expected to witness growth on account of providing excellent insulation properties. However, the high price of grey products as compared to other polymers including silicone and polyurethane is expected to have an adverse impact.

With increase in investment across companies to develop and redesign EPS products, regions such as EU, developed Polysolve to recycle EPS, where biodegradable solvents are used to extract polystyrene and polycarbonate from a mixture of waste, resulting in recycled polymer having high rate of purity and performance compared to that of the original material

Global Expanded Polystyrene (EPS) Market: Forecast by Region

Asia-Pacific is the largest consumer and producer of expanded polystyrene, with the greater part of the world capacity in China. Currently, Asia-Pacific dominates the market for EPS, with almost half of the global revenue share, followed by North America and Europe. China alone contributes to 40% of the global consumption in this market. Large population and growing activities in construction, especially in residential and infrastructure projects and packaging industries across China, are contributing to the higher consumption in this region.

Global Expanded Polystyrene (EPS) Market: Key Players

ACH Foam Technologies, Alpek, S.A.B. De Cv, BASF, Kaneka, PJSC Sibur Holding, SABIC, Sunpor Kunststoff, Synbra Holding, Synthos, Total, Brødr. Sunde, Flint Hills Resources, are the key vendors included in this report.

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