GCC Expanded Polystyrene Market Research Report: Forecast 2023-2028

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GCC Expanded Polystyrene Market
2023-2028
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Market Insights
The GCC Expanded Polystyrene Market is projected
to grow at a CAGR of around 6.4 during the
forecast period, i.e., 2023-28. The growth of the
market would be propelled by the burgeoning
demand for EPS in construction, packaging, cold
chain logistics, automotive sectors, among
others, for thermal insulation in buildings,
packaging of various products, and
temperature-controlled transportation of goods.
These industries are witnessing significant
growth in the GCC region, backed by increasing
FDI (Foreign Direct Investment) and enhanced
government support.
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Market Driver
Increasing Infrastructure Development in the
Tourism Sector
GCC countries like the UAE, Qatar, Saudi Arabia
have recognized the potential of tourism for
diversifying their economy, owing to which they
have developed comprehensive tourism development
strategies to attract more tourists. In line with
this, several hotels, resorts, entertainment
venues, etc., are being constructed across the
region, i.e., pushing the demand for EPS for
insulation in walls, roofs, floors. Saudi
Arabia aims to increase the tourism sector's
contribution to the EPS demand to more than 10
and attract 100 million annual visits by 2030.
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Market Segmentation
By Type White, Grey Silver, Black
By Production Method In-Situ Suspension,
Post-impregnation Suspension
By End User Building Construction, Electrical
and Electronics, Packaging, Automotive, Others
(Automotive, Healthcare, Agriculture, etc.)
By Country The UAE, Saudi Arabia, Oman, Kuwait,
Bahrain, Qatar
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