According to a recently published Fact.MR report, global value sales of Expanded Polystyrene reached over US$ 15 Bn in 2019, and are poised to record a significant growth through 2019. The report opines that East Asia will hold its dominance in the Expanded Polystyrene market, underlined by the persistent demand from end-use industries in the region. The presence of key manufacturers in the area includes BASF SE, Total S.A., Synthos S.A., Wuxi Xingda New Foam Plastics Materials Co., Ltd, Versalis S.P.A., and others are complementing a value sales of the Expanded Polystyrene in the region. Recycling deadlocks will coerce market players towards extending provisions on reuse.
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The rising usage in several different applications across end use industries will boost the demand for Expanded Polystyrene to provide a sustainable growth rate to the global Expanded Polystyrene market. Sheathing in residential and commercial construction is the most basic and widely used application for EPS insulation. In 2018, East Asia accounted for over 40% value sales of Expanded Polystyrene market. The several schemes and government projects for urbanization in India such as “housing for all” has given a boost to the construction industry in this region. Similarly, the road and marine network from China to Italy, ‘One Belt One Road Initiative’ by China will enhance the construction activities and propel the demand of Expanded Polystyrene during the forecast period. Among other regions, Europe is expected to gain a significant market share in terms of both value, as well as volume, owing to the presence of well-developed industries. South Asia and Oceania are likely to witness strong growth as compared to other developed and developing regions.
Construction Sector Driving the Need for Expanded Polystyrene
Rapid infrastructural and construction activities, fueled by the economic boom in emerging economies, is foretold to drive the expanded polystyrene market in the construction sector. Polymers have become increasingly important as an engineering material and one of the essential building blocks in the construction of engines, vehicles, household articles, and buildings. The construction industry is typically quite cautious about changing tried-and-tested methods and requires new materials to have a proven track record. The versatility of EPS allows it to be used for a huge variety of different purposes includes Snow sports helmet, Infant car seats, Air conditioning units, Seating for sports and others. Nevertheless, the benefits of expanded polystyrene are often too great to ignore and they are making a big impact in a growing number of areas.
High Insulating Properties and Moisture Resistance have made Expanded Polystyrene a Popular Choice
The effectiveness of packaging revolves mainly around surviving the drops. Foam materials continue to pass the drop tests successfully and ensure that the goods being wrapped incur the least amount of shock, regardless of their fragility. The above features are anticipated in the usage of Expanded Polystyrene in several applications across the packaging industry. Key players in the global Expanded Polystyrene market continue to dutifully test their solutions across a range of drop heights and fragility indexes. Flexibility of Expanded Polystyrene materials has been exceptional in dissipating the impact of the fall. Meanwhile, Expanded Polystyrene materials wrapped around rugged objects with sharp corners can demonstrate low levels of impact responsiveness, and can lower the static stress immediately. Dynamic cushioning properties and anti-corrosive properties of Expanded Polystyrene are further boosting their use in production of protective packaging solutions. End-users are astutely adopting foam protective packaging to avoid additional costs arising from faulty shipping processes leading to escalated growth of global Expanded Polystyrene market in the forecast period.
The Fact.MR report offers forecast of the Expanded Polystyrene market for the period 2019-2027. According to the report, the Expanded Polystyrene market is projected to record over 4% CAGR through 2027. The Packaging sector continues to generate lucrative value opportunities for players engaged in manufacturing of Expanded Polystyrene for packaging.