Expandable polystyrene (EPS) is a thermoplastic resin that contains an expanding agent. It is used in various applications ranging from food packaging to electrical coatings and medical supplies. It is environment-friendly as it does not involve any halogen during its production process. The global expandable polystyrene market is growing at an exponential rate as it caters to the demand of various industry verticals through sustainable development.
Expandable polystyrene (EPS) is a thermoplastic resin that contains an expanding agent. It is used in various applications ranging from food packaging to electrical coatings and medical supplies. It is environment-friendly as it does not involve any halogen during its production process. The global expandable polystyrene market is growing at an exponential rate as it caters to the demand of various industry verticals through sustainable development. Expandable polystyrene has an added advantage over moulded pulp. Moulded pulp, though recyclable, requires a certain amount of natural gas in the drying process, and it naturally weighs more, resulting into increased packaging and transportation cost. On the other hand, EPS meets most of the sustainable packaging criteria. It emits less greenhouse gases when compared to moulded pulp. Taking these benefits into account, governments as well as companies are shifting the packaging market towards the expandable polystyrene segment. The global expandable polystyrene market had witnessed 1.5X times growth in between 2000 and 2010.
Building & construction, and packaging are the two important end-use segment market for expandable polystyrene. Together, they contribute 95% market share of the global expandable polystyrene market. The rise in the demand for processed foods is increasing the expandable polystyrene demands in the food & beverages industry. In terms of revenue, this industry accounts for the largest market share in the global expandable polystyrene market. The next potential segment is building & construction. With major market economies such as China, India and GCC witnessing a major surge in infrastructure investment, the expandable polystyrene market is set to grow at an accelerated pace. Expandable polystyrene has been the prime choice for the construction of green buildings. It enhances the durability of buildings, and finds its application in insulating closed cavity walls and floor insulation. These major economies will see a surge in infrastructure investment in the coming decades. It is because of this added advantage that market is set to proliferate at an exponential rate. Another profitable segment is the electronics domain. Capacitors and electronic components are the main portions of electronics application segment that will push the expandable polystyrene market vertically upward at a CAGR of 4.5% between 2014 and 2020. Refrigerators, microwaves, electrical coatings are the major application for EPS in the electronics segment.
Market Growth Analysis
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Global Industry Analysis and Opportunity Assessment 2014 - 2020
BASF SE, Nova Chemicals Corporation, Synthos S.A, Owens Corning, and INEOS Styrenics are some of the leading manufacturers of EPS.
The global EPS market is set to grow at a moderate CAGR in the coming years. China, Europe, Brazil and India will be the major preferred destinations for the EPS market. Low weight, durability, moisture resistance, thermal efficiency, shock absorption, versatility and ease of use are some characteristics of EPS which are tempting various industry verticals to shift base to EPS. Though the EPS market is promising, major restraining factors are the availability of high performance substitutes including polypropylene and polyethylene.
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Competitive Positioning Matrix
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Region-wise Growth Analysis
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