Global expanded polystyrene market is expected to grow over the forecast period on account of growing infrastructure industry particularly in emerging markets of Asia Pacific and Latin America. Polystyrene is a thermo plastic polymer developed by styrene monomer polymerization. Expanded polystyrene (EPS) is different from other polystyrene types owing to various properties including light weight, excellent impact resistance, rigid nature, high thermal conductivity and less expensive. Expanded polystyrene has its major application in construction, packaging industry and architectural industries. Easy raw materials availability coupled with less production price is expected to propel the global expanded polystyrene market in coming years. Expanded polystyrene is also useful in flooring and roofing applications on account of thermal insulation material used in construction industry. Recyclable expanded polystyrene is expected to establish as the new opportunity for global expandable polystyrene market in order to increase global market share. Strict government policies and opposing polystyrene effects on human health, environment and marine wildlife are key restraints which are expected to affect the global expandable polystyrene market over the forecast period.
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In addition, substitute availability including polypropylene, PLA, polyethylene and PHA is also expected to emerge as major limitation in the global expanded polystyrene (EPS) market growth. Global expanded polystyrene market is segmented on the basis of application. Application segment includes electrical & electronics, building & construction, packaging and others. Others segment is sub categorized into plastic models, disposable razors, plastic cutlery, CD cases and petri dishes.
Asia Pacific was the dominating region holding the largest market size and market volume share followed by Europe and North America respectively. U.K, Brazil, South Africa, Germany, India and China are some countries which are expected to show healthy growth of expanded polystyrene market over the forecast period. North America is expected to be the fastest growing expanded polystyrene market in coming years. Global expanded polystyrene market players includes Dyplast Products, LIC, Synthos, Ford Motor Company, The Dow Chemical Company, Kaneka Corporation, Repsol, Owens Corning, Sunpor, Ineos Styrenics, Nova Chemicals Company, Styron LIC, Armacell LLC, RMAX, Carpenter Co., Adeplast S.A., Ming DIH Group Corporation, BASF, Alpek S.A.B De C.V., Saint-Gobain Performance Plastics Corporation and Ach Foam Technologies LIC. Manufactures are expected to continue with their research and development activities to improve their product efficiency.
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