Global expanded polystyrene (eps) market | Growth, Trends, Share

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The Global Expanded Polystyrene(EPS) Market to
Ascend with 5.68 of CAGR by 2028
Triton Market Research presents the Global
Expanded Polystyrene (EPS) Market report
segmented by Type (White, Gray, Black), by
Industry Vertical (Packaging, Automotive,
Domestic Appliances, Consumer Electronics,
Building Construction, Medical, Other Industry
Verticals), by Geographical Region (North
America, Europe, Asia-Pacific, Latin America,
Middle East and Africa), discussing Market
Summary, Industry Outlook, Market Definition,
Key Insights, Porters Five Forces Analysis,
Impact of COVID-19, Market Attractiveness Index,
Vendor Scorecard, Drivers, Restraints,
Opportunities, Challenges, Competitive
Landscape, Methodology Scope, Global Market
Size, Forecasts Analysis (2019-2028).
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earch.com/reports/expanded-polystyrene-marketrequ
est-free-sample Triton Market Researchs report
puts forth that the Global Expanded Polystyrene
(EPS) Market will grow at a CAGR of 5.68
(revenue) and 4.92 (volume) in the forecasted
period (2019-2028). Lightweight plastic materials
help vehicle manufacturers meet the regulatory
standards of vehicles. Also, plastic majorly
finds applications in transportation, owing to
advantages such as enhanced fuel efficiency in
vehicles. The automotive industry heavily relies
on polystyrene, both foam and solid, to make
numerous car parts, such as knobs, trims,
instrument panels, energy absorbing door panels,
and
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sound dampening foam. Thus, the demand for
expanded polystyrene is expected to rise
significantly, which will create opportunities
for growth in the years to come. On the flip
side, materials like plantable packaging,
mushroom material, in-cycle cups, edible packing
peanuts, bamboo fiber eco bowl, earth shell
paper plates, EarthAware biodegradable packing
materials, and peat plastic can substitute EPS
easily. This is likely to create many hurdles in
the path of market growth. The Asia-Pacific
market is expected to grow at the fastest rate in
the forecasted period. Also, it is the largest
market, and is expected to continue its reign
globally by 2028. The APAC has risen to become a
hub for EPS manufacturing due to the growing
interest from the household front. This interest
is expected to increase in the coming years due
to numerous ongoing and upcoming building
construction and development projects. Further,
numerous major industry players, such as Synthos,
Wuxi Xingda, The Ravago Group, BASF, and Alpek,
have their presence in this region. All these
factors contribute to the Asia-Pacific EPS
market growth. Evonik Industries AG, Sibur,
Bewisynbra Group AB, Nova Chemical Corporation,
BASF SE, Kaneka Corporation, Alpek SAB De CV,
Sunpor Kunststoff GmbH, Ravago, SABIC, Arkema SA,
Styrochem, Jackon GmbH, Total SA, and LG
Corporation are some of the noteworthy companies
operating in this industry. The market for
expanded polystyrene is highly fragmented as a
result of several players being engaged in
manufacturing the material. With high budgets and
advanced research development activities,
companies have excelled in designing various
types of EPS, having exceptional properties, and
have also been catering to the growing demand
from consumers. However, considering market
dominance, regional players seem to have more
opportunity as compared to the multinational
ones. Overall, there is a high level of rivalry
among competitors in this market. Contact
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