Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global expanded polystyrene market. The expanded polystyrene market report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth. Each segment along with its sub-segment is analyzed in terms of value and volume. According to a recently published Fact.MR report, global value sales of Expanded Polystyrene reached over US$ 15 Bn in 2019, and are poised to record a significant growth through 2019. The report opines that East Asia will hold its dominance in the Expanded Polystyrene market, underlined by the persistent demand from end-use industries in the region.
The Fact.MR report offers forecast of the Expanded Polystyrene market for the period 2019-2027. According to the report, the Expanded Polystyrene market is projected to record over 4% CAGR through 2027. The Packaging sector continues to generate lucrative value opportunities for players engaged in manufacturing of Expanded Polystyrene for packaging. The presence of key manufacturers in the area includes BASF SE, Total S.A., Synthos S.A., Wuxi Xingda New Foam Plastics Materials Co., Ltd, Versalis S.P.A., and others are complementing a value sales of the Expanded Polystyrene in the region
The rising usage in several different applications across end use industries will boost the demand for Expanded Polystyrene to provide a sustainable growth rate to the global Expanded Polystyrene market. Sheathing in residential and commercial construction is the most basic and widely used application for EPS insulation. In 2018, East Asia accounted for over 40% value sales of Expanded Polystyrene market. The several schemes and government projects for urbanization in India such as “housing for all” has given a boost to the construction industry in this region. Similarly, the road and marine network from China to Italy, ‘One Belt One Road Initiative’ by China will enhance the construction activities and propel the demand of Expanded Polystyrene during the forecast period.
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Ceaseless Growth of the Construction Sector Driving the Need for Expanded Polystyrene
Rapid infrastructural and construction activities, fueled by the economic boom in emerging economies, is foretold to drive the expanded polystyrene market in the construction sector. Polymers have become increasingly important as an engineering material and one of the essential building blocks in the construction of engines, vehicles, household articles, and buildings. The construction industry is typically quite cautious about changing tried-and-tested methods and requires new materials to have a proven track record. The versatility of EPS allows it to be used for a huge variety of different purposes includes Snow sports helmet, Infant car seats, Air conditioning units, Seating for sports and others.