Expanded Polysterene (EPS) Market Is Expected To Register A Revenue CAGR of 4.6% Till 2030
The global Expanded Polystyrene (EPS) Market size was USD 9.84 Billion in 2021 and is expected to register a revenue CAGR of 4.6% during the forecast period. The report examines the industry scenario to predict how COVID-19 might impact the prospective growth of the sector. It evaluates key elements like overall revenue, technological innovations, product pipeline, product offerings, recent deals, research and development, and strategic initiatives such as mergers and acquisitions, collaborations, joint ventures, etc. This helps readers understand how these aspects are expected to affect the industry during the forecast period and benefit from the existing growth opportunities and prepare for challenges.
Market revenue growth is primarily driven by high growth in the construction industry. EPS is one of the building materials that can improve a building’s design and construction integrity. EPS is increasingly being used in numerous building constructions due to its long-term benefits and improvements in terms of energy efficiency, durability, and interior environmental quality.
This is the latest report updated with the ongoing COVID-19 pandemic that offers an in-depth analysis of its impact on the growth of the Global Expanded Polystyrene (EPS) market in the forecast period. The outbreak has affected almost all industries worldwide, and this report studies the changes brought about by the pandemic on the overall Global Expanded Polystyrene (EPS) scenario in the current as well as the following years. It also studies the changing dynamics of the global sector to investigate the profit earned or loss suffered by different areas of the industry.
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Some Key Highlights in the Report:
- Packaging segment is expected to account for larger share of revenue over the forecast period. Increasing need for the proper packaging of consumer goods to protect their content from any damage during transportation, handling, and storage is expected to boost the revenue growth of the segment. Increasing usage of expanded polystyrene due to its wide application across several industries such as electronics, foods, and beverages for effective packaging is another factor expected to drive the segment growth.
- Construction segment is expected to account for largest revenue share in the global expanded polystyrene market between 2022 and 2030. Increasing demand for expanded polystyrene for insulation purposes in the construction industry is driving revenue growth in the segment. Increasing demand for expanded polystyrene for the flooring and roof construction of residential and commercial buildings is another factor. This is expected to drive the revenue growth of the segment.
- Asia Pacific expanded polystyrene market is expected to account for largest revenue share in the global market over the forecast period. Rapid growth of the packaging and construction industries in the countries in the region is expected to drive market revenue growth.
Key companies profiled in the report:
Arkema S.A, Alpek, S.A.B de C.V, S.A.B de C.V, BASF SE, Evonik Industries AG, Styro Limited, Kaneka Corporation, Nova Chemical Corporation, Saudi Basic Industries Corporation, TotalEnergies SE, and Epsilyte LLC.
The materials and chemicals industry has always employed cutting edge of innovation. It has guided the scientific community as well as individuals to explore new aspects of nature. From medical supplies to paints to perfumes, everything is composed of chemicals. Both new chemical discovery and substance explorations are handled by the materials and chemicals industry. The materials and chemicals industry has always taken a forward-thinking approach, from discovering new compounds to creating new chemical combinations.
This industry includes polymers, dyes, lubricants, surfactants, resins, petrochemicals, bleaches, paints, plastics, soap, detergent, and acids, among other chemicals and chemical products. The materials and chemical industries are known for improving product physical characteristics. Magnetic, optical, structural, and catalytic properties are all altered to increase the product’s overall efficacy. Leading players in the materials and chemicals industry have questioned the status quo and produced brilliant inventions that have altered the course of history. Advancement in the materials and chemicals industry can lead other industries in comprehending new types of matter. In this way, it creates a solid foundation for the advancement of society as a whole.
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Global Expanded Polystyrene (EPS) Market Segmentation:
Regions Covered in This Report:
- North America (the U.S., Mexico, and Canada)
- Latin America (Brazil and Rest of Latin America)
- Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
- Europe (the U.K., Germany, France, and Rest of Europe)
- Middle East Africa (GCC Countries and Rest of Middle East Africa)
Product Type Outlook:
- White Expanded Polystyrene
- Grey Expanded Polystyrene
- Black expanded Polystyrene
- Component Manufacturing
- Chemical Intermediate
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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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