Global Expanded Polystyrene Market is estimated to reach USD 36.23 Billion by 2028, according to a new report by Reports and Data. Expanded Polystyrene is produced by the polymerization of styrene, a building block material having widespread usage in producing various kinds of plastic products.

Blocks made of Expanded Polystyrene are implemented in the construction of buildings for providing permanent insulation for walls of buildings along with the roofs and floors. The distinctive feature of stacking and then filling the forms with concrete, of these blocks, allow for faster and cheaper construction of buildings (including residential, commercial, and industrial construction projects) as compared to typical brick and mortar buildings. Moreover, the block system aids in saving labor and time consumed in the completion of the project and the total construction costs.

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Key players operating in the market:

BASF SE, Versalis SPA, SABIC, Synthos SA, Kaneka Corporation, The Ravago Group, LG Chem, Formosa Chemicals Fibers Corp., Ineos Styrolution Group GmbH, and Trinseol, among others.

 Further key findings from the report suggest

Expanded Polystyrene is extensively used to manufacture sheets, which are used for making displays, prototypes, signs, models, enclosures and more. These sheets are low-cost material and are used for several general-purpose uses.

The market in the Asia Pacific region dominated the market in 2018 and is likely to witness a growth rate of 4.1% in the period 2019-2026. The market dominance of the Asia Pacific region is owing to the growth of the construction industry in the region. Moreover, the high demand for packaging materials from the rapidly growing e-commerce sector is causative in the growth of the market in the region.

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Revenue growth of the global materials chemicals industry is majorly supported by increasing demand for essential consumer products such as food beverages, personal care hygiene products, and beauty cosmetic products, and rising focus of manufacturers on using sustainable and environment-friendly materials cut down on their carbon footprint. Growing use of chemicals and raw materials in a wide range of industries including agriculture, buildings construction, textiles, automotive, manufacturing, packaging, food beverage, and several others is a major factor driving industry growth. Increasing environmental consciousness among consumers, emergence of technologically advanced materials and chemicals, and surging demand for high-performance specialty chemicals further drive the industry revenue growth during the forecast years.

Major Highlights of the Global Expanded Polystyrene Market Report:

Inclusive of an in-depth market overview with key analyst insights

Detailed study of the global Expanded Polystyrene industry using primary and secondary research methodologies

Exhaustive analysis of the dynamic factors influencing market growth

Detailed segmentation of the global Expanded Polystyrene market

Key industry innovations and growth opportunities

Highlights the key strategies undertaken by market players

Expanded Polystyrene Market segmentation by Product Type:

 General Purpose Expanded Polystyrene (GPPS)

High Impact Expanded Polystyrene (HIPS)

Expanded Expanded Polystyrene (EPS)

Expanded Polystyrene Market segmentation by Application:

Sheets

Foams

Major Regions Studied in the Report Include:

North America, Europe, Asia Pacific, Latin America, and Middle East Africa.

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