Global Expanded Polystyrene Market 2017-2021
About Expanded Polystyrene
Expanded polystyrene is made from solid beads of polystyrene, which are thermoplastic resins produced from the emulsion polymerization of the monomer, styrene. It is a rigid transparent thermoplastic with good electrical insulating properties and physical properties. It is used in molders products, sheet materials, and foams.
Technavio’s analysts forecast the global expanded polystyrene market to grow at a CAGR of 6.27% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global expanded polystyrene market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Expanded Polystyrene Market 2017-2021
Technavio recognizes the following companies as the key players in the global expanded polystyrene market: Alpek, The Dow Chemical Company, Kaneka, Synthos, and Total.
Other Prominent Vendors in the market are: ACH Foam Technologies, BASF, NOVA Chemicals, SIBUR, StyroChem, SUNPOR KUNSTSTOFF, and Synbra Holding B.V.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing number of manufacturers in APAC. Lower supply constraints in Europe, following the establishment of new polymer foam production facilities in China, is likely to restrict the production, thereby reducing the cost of the product.”
According to the report, one of the major drivers for this market is high demand from emerging economies. The global EPS market is witnessing high growth in emerging economies, such as Brazil, China, Russia, Turkey, Indonesia, South Korea, Mexico, and India. Many OEMs, such as automotive manufacturers, are shifting their manufacturing operations to these countries due to factors such as the availability of land, cheap labor, low transportation costs, and lenient government norms.
Further, the report states that one of the major factors hindering the growth of this market is volatility in crude oil prices. The manufacturing of EPS requires raw materials, which are acquired from the oil and gas industry. The fluctuations in crude oil prices have a severe impact on the prices of the raw materials, which affect the costs of the EPS.
Alpek, The Dow Chemical Company, Kaneka, Synthos, Total, ACH Foam Technologies, BASF, NOVA Chemicals, SIBUR, StyroChem, SUNPOR KUNSTSTOFF, and Synbra Holding B.V.
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