Press release
Expanded Polystyrene Market Size to Worth Around USD 23.6 billion, Trends, Growth, Segmentation with Top Countries Data and Forecast to 2029
Expanded Polystyrene Market Overview:Expanded Polystyrene (EPS) refers to white foam plastic substance produced from solid beads of polystyrene. Polystyrene a solid thermoplastic material that is melted at high temperature to re-solidify for the desired application, the expanded polystyrene is forty-five times the volume of the original granule of polystyrene. Expanded Polystyrene primarily used for packaging, insulation, etc. It is a closed-cell, rigid foam material produced from Styrene and Pentane. Both styrene and pentane are hydrocarbon compounds and obtained from petroleum and natural gas by products.
The global Expanded Polystyrene Market was valued at USD 15.6 billion in 2020 and is projected to reach USD 23.6 billion by 2029, growing at a CAGR of 4.71% from 2022-2029.
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Expanded polystyrene demand will rise as urbanisation, industrialization, and construction activities increase. The increased demand for long-lasting residential and commercial structures will fuel market growth, particularly in developing economies. Rising demand from other end-user verticals such as the automotive and packaging industries will drive up the value of the expanded polystyrene market. Expanded polystyrene demand has increased due to rising demand for sustainable and lightweight solutions with excellent thermal insulation.
Expanded Polystyrene Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Baltimore Wuxi Xingda, Synthos, BASF, SUNPOWER KUNSTSTOFF, The Ravago Group, Alpek, VERSALIS, Nova Chemicals, Flint Hills Resources, PJSC SIBUR HOLDING, Saudi Basic Industries Corporation, Kaneka Corporation and Others
Recent Development
In March 2021, BEWI, a leading manufacturer of packaging, components, and insulation solutions, has announced the acquisition of a 34% stake in the Czech recycling firm Inoplast s.r.o. Inoplast is a company that recycles plastics, mostly expanded polystyrene (EPS) but also other forms of plastics.
In 2019, Styropek Mexico began a collaboration with one of its EPS suppliers to collect pentane emissions from the EPS bead pre-expansion and stabilization process.
In June 2019, BASF SE increased its global production capacity of Neopor (a graphite polystyrene rigid foam and a type of EPS) by 40,000 metric tons per year. The capacity addition was done at two production sites, namely, Ulsan (Korea) and Ludwigshafen (Germany).
In 2019, Versalis (Eni) a chemical company launched its new type of expandable polystyrene (EPS) named Extir FL 3000 to prevent plastic leakage. This material offers the industry an opportunity to increase sustainable products in sectors such as food packaging, industrial packaging (for appliances, furniture, and automotive vehicles), protective helmets, containers, and seats. It also minimizes the risk of plastic granules leaking into the environment.
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Expanded Polystyrene Market Segmentation:
Expanded Polystyrene Market by Type, 2020-2029, (USD Millions, Kilotons)
White
Grey
Black
Expanded Polystyrene Market by Application, 2020-2029, (USD Millions, Kilotons)
Building & Construction
Packaging
Growth Factors:
Increasing demand from the Expanded Polystyrene industries
The growing use of Expanded Polystyrene in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Expanded Polystyrene Market
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Expanded Polystyrene Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Expanded Polystyrene Market Trends
- The report identifies, determines, and forecasts the Global Expanded Polystyrene Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Expanded Polystyrene Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Expanded Polystyrene Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Expanded Polystyrene Market.
Frequently Asked Questions
What is the projected market size & growth rate of the Expandable Polystyrene Market?
What are the key driving factors for the growth of the Expandable Polystyrene Market?
What are the top players operating in the Expandable Polystyrene Market?
What segments are covered in the Expandable Polystyrene Market?
How can I get a sample reports/company profiles for the Expandable Polystyrene Market?
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