Expandable Polystyrene Market size worth $ 13.05 Billion, Globally, by 2028 at 5.20% CAGR: Verified Market Research®

JERSEY CITY, N.J., Oct. 14, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Expandable Polystyrene Market" By Product Type (White Grey, And Black), By Application (Building and Construction, Packaging), and By Geography. According to Verified Market Research, the Global Expandable Polystyrene Market size was valued at USD 8.7 Billion in 2020 and is projected to reach USD 13.05 Billion by 2028, growing at a CAGR of 5.20 % from 2021 to 2028.

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Browse in-depth TOC on "Expandable Polystyrene Market"

202 - Pages
126 – Tables
37 – Figures

Global Expandable Polystyrene Market Overview

Increasing application of expanded polystyrene in the construction and packaging industries owing to its closed-air low-thermal conductivity, ease of handling, mechanical resistance (insulation in the wall structure and roofs & flooring), low water absorption, and sound resistance is the key factor driving the growth of global expanded polystyrene market.

The ability to provide the best packaging solution to keep the product safe and shock absorbent from risk in transport and providing total protection for the industrial product is fostering the growth of the overall expanded polystyrene market. Additionally, food packaging safety through expanded polystyrene is another prospective factor for the growth of the expanded polystyrene market. The overall market is also driven by the environmental benefits associated with expanded polystyrene and high rate of recycling of expanded polystyrene.

Despite having various advantages of expanded polystyrene, some factors restrain and challenge the growth of the overall market. The factors like volatility in crude oil prices and availability of substitutes such as polypropylene and bio-plastics may thwart the overall growth of the expanded polystyrene market.

Key Developments in Expandable Polystyrene Market

  • In 2019, Versalis (Eni) a chemical company launched its new type of expandable polystyrene (EPS) named Extir FL 3000 to prevent plastic leakage. This material offers the industry an opportunity to increase sustainable products in sectors such as food packaging, industrial packaging (for appliances, furniture, and automotive vehicles), protective helmets, containers, and seats. It also minimizes the risk of plastic granules leaking into the environment.

The major players in the market are BASF SE, Nova Chemicals Corporation, Synthos S.A., Saudi Basic Industries Corporation (SABIC), Wuxi Xingda New Foam Plastics Materials Co., Ltd., The Ravago Group, Flint Hills Resources, LLC, Alpek S.A.B. de C.V.

Verified Market Research has segmented the Global Expandable Polystyrene Market On the basis of Product Type, Application, and Geography.

  • Expandable Polystyrene Market, By Product Type
    • White
    • Grey
    • Black
  • Expandable Polystyrene Market, By Application
    • Building and Construction
    • Packaging
    • Other
  • Expandable Polystyrene Market by Geography
    • North America 
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Top 7 largest polyester manufacturers weaving the world with strong fibers

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