EPS for food packaging in Europe to register CAGR of 2.8% from 2016 to 2021

25-Nov-16

In 2015, the Europe food packaging EPS market was valued at US$291.8 mln and is projected to reach US$347.1 mln by 2021, at a CAGR of 2.8% during the forecast period, 2016 to 2021, as per Micro Market Monitor.
Expanded polystyrene (EPS) is a thermoplastic material and is commonly known as styrofoam or thermocol. Expanded polystyrene (EPS) is a closed cell, lightweight cellular plastics material produced from beads of polystyrene. EPS does not have any nutritional value and as such, it is not prone to growth of fungi or microorganisms. Therefore, it is widely used in the packaging of foodstuff. EPS offers unique characteristics such as lightweight, toughness, and insulation against heat and sound. There are two types of EPS available in the market, namely, Grey EPS and White EPS. Grey EPS offers improved insulation properties and as such, there has been an increase in demand for Grey EPS in the global market in the last ten years. EPS is also used in horticulture in seedling trays to stimulate aeration of soil.