Global polystyrene & expanded polystyrene market will be propelled by the increasing demand for foaming and insulation applications in building and construction industry by 2025. By using EPS geofoam, architects and engineers are developing the ideal materials to provides the effective solutions for the construction industry. —
EPS is easy for handling and lowers the total cost of construction. The noteworthy applications of PS & EPS include: slope stabilization, lightweight filler for construction, roadway and runway formation level insulation, etc. Global PS & EPS market for construction segment will grow significantly with a CAGR of approximately 5% by 2025.
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According to a new research report. Polystyrene & Expanded Polystyrene Market will surpass USD 49 billion by 2025.
In the recent years a significant threat of substitution was observed by the global PS & EPS market. The significant market hold by the polyethylene and polypropylene may negatively affect the global polystyrene & expanded polystyrene market during the forecast period.
Expanded polystyrene is projected to have strong growth with 4.7% CAGR by 2025 in global PS & EPS market. EPS has a long history of production, however over the past decade, new applications have rapidly developed. Expanded polystyrene offers tangible environmental advantages that help to maximize the energy efficiency, providing enhanced durability, which will make it an ideal choice for green building design by 2025.
In the year 2017, packaging sector had share of above 30% in global polystyrene & expanded polystyrene market. In recent decade polystyrene has been significantly used as a lucrative solution not only in rigid packaging but also for food packaging. Use of polystyrene in packaging prevents spillage of food and provides good thermal insulation. PS and EPS helps in cost and weight reduction and provides freshness, convenience, aesthetic essential and information. The substantial demand for PS & EPS in packaging applications is expected to grow significantly during the forecast period.
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In automobile industry, the trend to replace metal by plastics has been prevailing, due to their higher impact strength, easy moldability, improved aesthetics, scratch resistance, cabin insulation, and lightweight. Transportation segment is expected to be a notable driver for the global polystyrene & expanded polystyrene market during the forecast period.
In 2017, Asia Pacific was leader in the global polystyrene & expanded polystyrene market which has contributed more than 40% market share. This greater share was due to the increase in construction and automotive industries in the region. The growing urbanization and increasing demand for the packaged food will boost the global polystyrene & expanded polystyrene market by 2025.
Partial Chapter of the Table of Content:
Polystyrene & Expanded Polystyrene Market By Application
• Component manufacturing
• Chemical intermediate
Polystyrene & Expanded Polystyrene Market By End-user
• Electrical & Electronics
• Consumer goods
• Food & beverage
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Key players involved in PS & EPS market include: INEOS Styrolution, BASF SE, ACH Foam Technologies, Total S.A., Trinseo S.A., SIBUR, HIRSCH Servo, Flint Hills Resources, etc. Manufacturers are expanding their business by acquisitions and strategic mergers. For instance, in Sept 2018, the company SABIC acquired the equity interest of 24.99% in a multinational company Clariant AG, which was a remarkable move in the global polystyrene & expanded polystyrene market.
Name: Arun Hedge
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Organization: Global Market Insights, Inc.
Release ID: 88924341