The global expandable polystyrene market is segmented into building & construction, aerospace, packaging, automotive, electrical & electrical, others, out of which, building & construction segment is expected to dominate the overall expandable polystyrene market and is anticipated to capture a noteworthy CAGR by 2027. Likely, rising building & construction project is envisioned to bolster the growth of global expandable polystyrene market
Global expandable polystyrene market is anticipated to mask a notable CAGR of 6% during the forecast period i.e. 2017-2027. Moreover, the global expandable polystyrene market is projected to account for exponential revenue by the end of 2027. Additionally, growing inclination of consumers towards light weight products is believed to propel the growth of expandable polystyrene market.
In terms of regional platform, Asia Pacific accounted for the largest market of global expandable polystyrene in terms of market share in 2017. Moreover, presence of emerging economies such as China and India and positive GDP figures are believed to foster the growth of expandable polystyrene market in this region. In addition to this, rising construction project as per the demand of growing population is also predicted to strengthen the market of expandable polystyrene. Apart from this, North America is prominent market of expandable polystyrene is expected to witness of high growth rate over the forecast period. The growing demand of the expandable p0lystyrene is packaging sector is expected to drive the growth of the expandable polystyrene market in this region.
Rising Adoption of Light Weight Components
Expandable polystyrene is rigid and light weight substance which also offers good tensile strength, sound resistance and insulation. Light weight components improve the fuel economy of the machine. The growing demand of the light weight component in various sector such as aerospace, automotive and others is predicted to trigger the growth of the expandable polystyrene market in the upcoming years.
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Rising Packaging Industries
Due to its insulation and flexibility property EPS is widely used in the packaging of the products. The growing demand of the expandable p0lystyrene is packaging sector is expected to drive the growth of the expandable polystyrene market across the globe.
However, monomers of the expandable polystyrene are petroleum products. Fluctuating cost of the raw material is expected to dampen the growth of the expandable polystyrene market over the forecast period. Further alternatives of EPS have good properties which may also restraint growth of the market.
The report titled “Expandable Polystyrene Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global expandable polystyrene market in terms of market segmentation by products, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global expandable polystyrene market which includes company profiling Polyplastics Co, BASF SE, Prochase Enterprise Co., Ltd, Nova Chemicals Corporation, Owens Corning, Ueno Fine Chemicals Industry, Ltd, Dart Container Corporation, Nexkemia Petrochemicals, Inc., Flint Hills Resources LLC, other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive carbon wheels market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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