Expanded Polystyrene Market Report, Growth by Demand, Recent Technologies and Forecast to 2023

Market Overview:

Expanded polystyrene Market Report or Styrofoam is gaining increased traction due to its thermal insulation and craft applications. Reports that gauge the chemical and material industry have been made available by Market Research Future, which creates reports on several industry verticals that review the market growth and prospects. The market is expected to demonstrate an ascendant CAGR in the period of the forecast.

The formation of polystyrene by an improved polymerization process is expected to motivate the expansion of the market for expanded polystyrene. The lightweight durability of expanded polystyrene is greatly motivating the incorporation of this material in a range of applications. Moreover, the increased use of expanded polystyrene in packaging fast food is projected to motivate the induce further growth in the market in the forecast period.

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Competitive Analysis

The efficiencies achieved in the allocation of resources is expected to encourage the development of the market in the approaching period. Moreover, increased cost efficiencies are projected to positively impact the progress of the market in the coming years. Amplified investment in the market is likely to motivate the positive changes in the market in the forecast period. Strong insights into the market’s condition is motivating the expansion of the forecast period. The offering in the market has also diversified considerably ensuring availability of better-quality products in the market. The emergence of specialization in production has also increasingly improved the growth trajectory of the market. The decrease in trade restrictions is anticipated to create favorable opportunities for development in the forecast period. The presence of favorable trade policies is anticipated to improve the growth of the market in the impending period.

·         ACH Foam Technologies, Inc

·         Kaneka Corporation

·         SABIC

·         BASF SE

·         Alpek S.A.B. de C.V

·         StyroChem

·         Synbra Holding BV

·         Unipol Holland B.V.

·         NOVA Chemicals Corporation

·         Versalis S.p.A

Segmental Analysis

The assessment of the segments in the Expanded Polystyrene Market Report is conducted on the basis of type, region, and application. Based on type, the expanded polystyrene market is segmented into grey, white, and black expanded polystyrenes. Among these segments, the white expanded polystyrene segment controls a bulk of the market share owing to remarkable features provided by the product. The expanded polystyrene market based on comprises of automotive, construction & buildings, packaging, and others. The packaging segment accounts for a chief share of the market due to the rising popularity of expanded polystyrene applications in fast foods, egg trays, fish, vegetables, and poultry. By regions, the expanded polystyrene market is segmented into Asia Pacific, the Middle East, Europe, Latin America, Africa, and North America.

Detailed Regional Analysis     

The regional study of the expanded polystyrene market includes regions such as Asia Pacific, the Middle East, Europe, Latin America, Africa, and North America. The Asia Pacific controls a chief share of the market owing to the increasing consumption of lightweight materials in packaging, automotive, construction & buildings, and others. The packaging segment influences the major portion of the market owing to rising substitution of cardboard products in the industry. The North American region is increasing extensively due to an augmented consumption of polystyrene in packaging and others. It is projected that intensifying disposable income levels and growing investments in the end-user industries are expected to guide the market through the forecast period. The European region market is observing notable growth owing to an application of new rules and regulations planned by the government and the application of this rule in the packaging and construction & buildings sectors. The Latin American region is projected to observe a favorable development in the market owing to the growing use of low density humid resistant materials and increasing awareness of eco- friendly products in the industry. Also, the Middle East and Africa regionare estimated to observe an advanced growth rate in the market owing to the growing demand for expanded polystyrene in end-use sectors.

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