As per the report published by Allied Market Research, the global Expanded Polystyrene Industry accounted for $15.3 billion in 2018, and is anticipated to reach $22.8 billion by 2026, registering at a CAGR of 5.1% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
Development in the building and construction industry and increase in demand for lightweight materials in the automobile industry drive the growth of the global Expanded Polystyrene Industry. On the contrary, fluctuations in crude oil, and availability of high-performance substitute products hinder the market growth. However, involvement of injection molded process would open new opportunities in the coming years.
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The global Expanded Polystyrene Industry is divided on the basis of product type, end-user industry, and region. Based on product type, the Expanded Polystyrene Industry is divided into white, grey, and black. The white segment dominated the market in 2018, accounting for more than half of the market. However, the grey segment is projected to manifest the highest CAGR of 6.0% during the forecast period.
Based on end-user, the market analysis is divided on the basis of packaging, building & construction, domestic appliances, consumer electronics, medical, and others. The packaging segment held the largest revenue in 2018, accounting for more than one-third of the market. However, the building and construction segment is projected to manifest the highest CAGR of 6.3% during the forecast period.
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The global Expanded Polystyrene Industry market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region is projected to portray the highest CAGR of 5.6% during the forecast period. In addition, the market region also dominated the market in 2018, accounting for nearly half of the market.
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The global Expanded Polystyrene Industry market report includes an in-depth analysis of the major market players such as Alpek, S.A.B. de C.V., Arkema S.A., BASF SE, Evonik Industries AG, Kaneka Corporation, LG Corporation (LG Corp), NOVA Chemical Corporation, SABIC, Styrochem, and TOTAL S.A. Among these, BASF SE, Evonik Industries AG, Kaneka Corporation, LG Corporation (LG Corp), and NOVA Chemical Corporation.