MOSCOW (MRC) -- The global expandable polystyrene (EPS) market is currently valued at USD13.9 bln in 2014 and is expected to reach USD22.4 bln by 2020, showing a compound annual growth rate of 8.3%, as per Plastemart.
Asia-Pacific currently dominates the market for EPS followed by North America and Europe. The APAC EPS market demands for higher consumption due to its larger population needs and their growing activities across the constructions and packaging industries.
The major trend driving the EPS market is the huge demand from the building and construction sector, which finds its usefulness in a myriad of applications such as floor insulation, insulation foam for closed cavity walls, and roofs.
Rising continuous rise of environmental concerns has resulted in a new legislation that threatens EPS manufacturers, and the rising raw material costs may dampen the overall growth during the period.
Expandable polystyrene (EPS) is one of the multipurpose polymers available for a variety of applications. EPS has found numerous application areas across a wide range of industries due to its light weight, rigidity, and thermal and acoustic insulating properties. EPS has low thermal conductivity, shock and sound absorbing characteristics, and moisture resistant properties.
We remind that, as MRC wrote before, the global polystyrene (PS) market is projected to reach USD28.2 bln by 2019, at a CAGR of 5.1% between 2014 and 2019, in terms of value, as per MarketsandMarkets. The market for polystyrene is estimated to grow on account of the rapid expansion of the plastics and rubber manufacturing industries, especially in Europe and the increasing rates of industrialization and globalization. The flourishing packaging and electronics application in emerging economies is expected to act as a budding opportunity for the PS market.
MRC