Expanded Polystyrene (EPS) Market | Key players: Wuxi Xingda, Synthos, BASF, Total, SUNPOR KUNSTSTOFF, The Ravago Group, Alpek, VERSALIS, Nova Chemicals, Flint Hills Resources, PJSC SIBUR HOLDING, Saudi Basic Industries Corporation, Kaneka Corporation, At

According to recent research "Expanded Polystyrene (EPS) Market by Product Type (White, Grey, Black), End-use Industry (Building & Construction, Packaging, Others), and Region (Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2023", published by MarketsandMarkets™, The EPS market is expected to grow from USD 15.5 billion in 2018 to USD 20.1 billion by 2023, at a CAGR of 5.3% during the forecast period. The major factors driving the EPS market include the growing construction and packaging industries in developing countries.

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The expanded polystyrene market is projected to reach USD 18.97 billion by 2022, at a CAGR of 5.1% from 2017 to 2022. Asia-Pacific is the leading market for expanded polystyrene, in terms of value. Countries in this region, including China, South Korea, India, Thailand, Indonesia, and Malaysia, are witnessing an increase in the use of expanded polystyrene in applications, such as building & construction, and packaging, among others.

Mergers & acquisitions was the key strategy adopted by industry players to achieve growth in the expanded polystyrene market. This strategy accounted for a share of 38.5% of the all the growth strategies adopted by key players in the market between 2013 and 2017. Companies are merging or acquiring competitors in emerging regions, due to the rising demand for expanded polystyrene from these regions. Besides merger & acquisitions, companies are also focusing on investments & expansions by expanding their production capacities and new product launches by increasing their product portfolios to fulfill the growing demand of consumers. These strategies together accounted for a share of 61.5% all the growth strategies adopted by key players in the market between 2013 and 2017.

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Europe was the most active region from 2013 and 2017, in terms of strategic initiatives. Investments & expansions was the most preferred strategy in this region by manufacturers to strengthen their position in the global expanded polystyrene market. Companies, such as Alpek SAB de CV (Mexico), SUNPOR KUNSTSTOFF GmbH (Austria), Synthos S.A. (Poland), The Ravago Group (Belgium), and Total S.A. (France) are the key players in Europe.

Some of the key manufacturers, such as ACH Foam Technologies, LLC (U.S.), Alpek SAB de CV (Mexico), BASF SE (Germany), Kaneka Corporation (Japan), PJSC SIBUR Holding (Russia), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), SUNPOR KUNSTSTOFF GmbH (Austria), Synbra Holding bv (Netherlands), Synthos S.A. (Poland), and Total S.A. (France) are profiled in this report. These companies have adopted both organic and inorganic growth strategies to achieve growth in the market.

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Alpek SAB de CV is the most active player in the global expanded polystyrene market. It accounted for the largest share of all the developmental activities undertaken in the expanded polystyrene market between 2013 and 2017. In June 2016, Alpek acquired BASF's 20,000 tons/year EPS plant in Concon, Chile. This helped the company to cater to the increasing demand for expanded polystyrene in the country. In November 2015, the company announced that it will boost the expanded polystyrene capacity at its Altamira facility by 75,000 tons/year, which will lead to a production capacity of 240,000 tons/year. The project is expected to be completed by the end of 2017. This will help the company to strengthen its market position.

ACH Foam Technologies is another key manufacturer of expanded polystyrene. In September 2015, the company launched wine bottle packaging EPS with better design and tightening system for better protection of bottles. In October 2014, the company established a new plant in Fond du Lac, Wisconsin to produce high quality expanded polystyrene foam to meet the increasing demand for the product in the region.

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