The global expanded polystyrene market revenue is expected to expand at a lucrative CAGR over the forecast period. Expanded polystyrene (EPS) is a lightweight, rigid, recyclable, non-toxic, and tough cellular plastic, available in different shapes and used for various applications.
A major factor expected to drive growth of the target market over the forecast period is the growing construction and infrastructure industry in the developing countries. However, fluctuation in crude oil prices, may hinder revenue growth of expanded polystyrene market over the forecast period.
The global expanded polystyrene market report has been segmented on the basis of product type, end-use industry, and region. On the basis of product type, the target market has been segmented into white EPS, grey EPS, and black EPS. The white EPS segment is accounted for major share in terms of revenue in the target market, owing to the advantages of expanded polystyrene such as thermal resistance and high impact resistance, and is anticipated to drive growth of the segment over the forecast period.
On the basis of end-use industry, the target market has been segmented into building & construction, packaging, and others. The others segment is further bifurcated into automotive, medical, marine, and sports & leisure. The building & construction segment is contributed for major share in terms of revenue in the target market over the forecast period.
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On the basis of region, the global expanded polystyrene market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The expanded polystyrene market in the Asia Pacific hold for major revenue share in the target market and expected to maintain its dominance over the forecast period. The expanded polystyrene market in North America is anticipated to register significant growth rate in the target market over the forecast period followed by Europe, Middle East & Africa, and Latin America respectively.
Key players operating in the global expanded polystyrene market include Wuxi Xingda New Foam Plastics Materials Co., Ltd., Synthos S.A., BASF SE, Total S.A., Sunpor Kunststoff GmbH, Ravago SA, Alpek S.A.B. de C.V., Versalis S.p.A., Flint Hills Resources, Saudi Basic Industries Corporation, and NOVA Chemicals Corporation.