Industry Background:
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 | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | 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) |
This growth is primarily driven by Increasing Demand due to Expanded Polystyrene (EPS) is employed in a major pharmaceutical industry application of cold chain packaging as it ensures product safety.
Globally, a noticeable market trend is evident Advantage Over Competitive Materials
The Chemicals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. 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.
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.
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
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Expanded Polystyrene (EPS) Market
- Analysis about New Entrants in Expanded Polystyrene (EPS) Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Expanded Polystyrene (EPS) Study Sheds Light on
The Expanded Polystyrene (EPS) Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Expanded Polystyrene (EPS) industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Expanded Polystyrene (EPS) industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.