Expanded Polystyrene (EPS) market to be worth US$19.1 bln by 2018

31-Jan-14

Currently, the global EPS market (2012) is worth US$11.9 bln and is estimated to each US$19.1 bln by 2018, growing at a CAGR of 8.2% from 2013 to 2018, as per Markets&Markets. The high demand across industries such as building & construction, packaging, and others will increase the overall EPS consumption. EPS products are significantly penetrating in their applications market, globally. They have different characteristics as per the manufacturing and application requirement in end products. The APAC market currently dominates the global EPS market and will remain dominating in the next five years with its growing demand for EPS in different applications especially in building & construction. The Western European and North American markets are expected to show a rising growth in the next five years with allied industries that are expected to stabilize the overall business need in respective regions. Research and development is a key part of this market, where manufacturing companies, associations, and end product makers infuse high investments for future advancements and technology modifications of EPS for different types of applications. Building and construction applications are expected to drive the global market of EPS. Asia-Pacific is the largest region, both in terms of volume and value, followed by Western Europe and North America. The U.S., Germany, the U.K., Brazil, Russia, China, and India are expected to persist as successful EPS markets. The major players in the global polymer EPS market are Adeplast S.A. (Romania), Armacell LLC (Germany), BASF SE (Germany), Carpenter Co. (U.S.), Ineos Styrenics (Switzerland), Kaneka Corporation (Japan), Nova Chemicals Company (U.S.), Owens Corning (U.S.), and The Dow Chemical Company (U.S.), and other market players. Eastern and Central European nations, emerging South-East Asian nations and nations such as Russia and Brazil that host the next Winter Olympics 2014 and Summer Olympics 2016 respectively and other global events would supplement the growth of EPS. An increase in proposals for improvement of infrastructure and rising housing market in emerging economies will drive the Expanded Polystyrene Market.