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(MoneyNewsWire.Net, August 26, 2017 ) Global Expanded Polystyrene (EPS) market has a total value of $15.05 billion, as of 2015. It is one of the biggest commodity plastics. The market is estimated to grow at a CAGR of 8.3% during the forecast period to reach $22.4 billion by 2020.
Currently, Asia-Pacific dominates the market for EPS with 47% of the global revenue share, followed by North America and Europe. China alone contributes to 40% of the global consumption in this market. Large population and growing activities in construction and packaging industries across Asia-Pacific are contributing to the higher consumption in this region. Asia-Pacific would continue dominating the market during the forecast period (2017 - 2022).
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EPS has found numerous applications across a wide range of industries due to its lightweight, rigidity, acoustic insulating properties, low thermal conductivity, shock and sound absorbing characteristics and moisture resistant properties. A large piece of demand for EPS comes from the building and construction sector, which finds it useful in a myriad of applications such as floor insulation, insulation foam for closed cavity walls and roofs. EPS is one of the foremost choices in green building because of its application in ICF blocks manufacture. It is also used as a resin in global cup and container manufacture market. Moreover, EPS is recyclable plastic. In 2015, over 127 million pounds of EPS was recycled, including 72.8 million pounds of post-consumer packaging and 54.5 million pounds of post-industrial packaging.
Building & insulation and packaging are the major application of EPS, collectively accounting for about 90% of the market share. Downstream demand from the building & construction industry and packaging applications would boost the demand and revenue of EPS market. Growing demand for EPS in food processing, and consumer electronics are expected to drive the EPS market.
More than 100 companies around the world are manufacturing EPS today and this number is expected to touch 200 within the next five years. However, environmental concerns and new environmental regulations being formulated are threatening the EPS manufacturers.
Read more details of the report at: Global Expanded Polystyrene Market - Segmented by Application and Geography Trends and Forecasts
Key Deliverables in the Study
Market analysis for the Global EPS Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global EPS market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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