Polystyrene (PS) & Expanded Polystyrene (EPS) Market to Witness Robust Growth by 2026
April 04, 2022
Stratview Research has recently added a new report titled Polystyrene (PS) & Expanded Polystyrene (EPS) Market to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on the critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Polystyrene (PS) & Expanded Polystyrene (EPS) Market.
The years considered in this report to estimate the market size of the market are:
• History Year: 2016-2019
• Forecast Year: 2021 to 2026
The key players covered in this report are –
- ACH Foam Technologies (US)
- Flint Hills Resources
- StyroChem (Canada)
- NOVA Chemicals (Canada)
- AlpekB. de C.V. (Mexico)
- Sunpor Kunststoff (Austria)
- Synbra Holding bv (Netherlands)
- Total SA (France)
- Brodr. Sunde (Norway)
- Trinseo (Norway)
Market Highlights
The Polystyrene (PS) & Expanded Polystyrene (EPS) market is projected to grow from USD 38.3 billion in 2020 to USD 49.8 billion by 2026 at a CAGR of over 4.6% during the forecast period. Growing demand for innovative and designed electrical appliances equipped with improved functionalities is likely to boost the usage of PS and EPS in the electronic sector in the coming years. Also, expanding the construction industry which is a significant consumer of EPS further augments the market growth. However, fluctuating raw material prices and the availability of high-performance substitutes are expected to hamper the industry growth.
Segment-wise analysis
Based on end-use, the Polystyrene (PS) & Expanded Polystyrene (EPS) market has been classified into transportation, electrical & electronics, construction, consumer goods, food & beverage, and packaging. Under these, the packaging segment held a substantial market share in 2020 and is likely to grow at a considered CAGR during the forecast period. PS and EPS are extensively used in the packaging of electronic appliances, food, retail, and consumer goods, due to their lightweight properties and excellent insulation & weather resistance properties, thereby bolstering the segment growth.
By region, the Asia Pacific market held a significant market share in 2020 and is projected to grow at a healthy CAGR in the coming years. This growth is mainly ascribed to a strong presence of product manufacturers, strong automobile production, expanding construction industry growth, cheap labor availability, and easy access to raw materials. Also, the packaging and e-commerce sectors are booming thus offering lucrative opportunities to the market players in the region.
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The main steps in the investigation process are:
- Stratview Research has gathered the raw data from industry experts and direct research analysts using primary and secondary sources.
- The experts also classify the information obtained by qualitative and quantitative data to place it in a proper way to make final conclusions.
- This report also provides market intelligence and throws light on critical insights into the market dynamics.
The information gathered in the report enables strategic decision making for the existing players as well as those willing to enter the market. The report contains growth drivers and constraints, market trend and forecast analysis, market segment trend, competitive landscape and dynamics, attractive market segments and associated growth opportunities, etc.
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