Expandable polystyrene market size worth $ 13.05 billion worldwide by 2028 at 5.20% CAGR: Verified Market Research®

JERSEY CITY, NJ, October 14, 2021 / PRNewswire / – Verified Market Research recently published a report, “Expandable Polystyrene Market“By Product Type (Gray White & Black), By Application (Building & Construction, Packaging), and By Geography. According to Verified Market Research, the Global Expandable Polystyrene Market size was estimated to be $ 8.7 billion in 2020 and should reach $ 13.05 billion by 2028, with a CAGR of 5.20% from 2021 to 2028.

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202 – Slips
126 – Tables
37 – Figures

Global Expandable Polystyrene Market Overview

Growing application of expanded polystyrene in the construction and packaging industries due to its low thermal conductivity in closed air, ease of handling, mechanical resistance (insulation in the structure of walls and roofs and floors ), its low water absorption and sound resistance are the key growth factors of the global expanded polystyrene market.

The ability to provide the best packaging solution to keep the product safe and shock absorbent against the risk of transportation and provide total protection for the industrial product is driving the growth of the overall polystyrene foam market. In addition, the safety of food packaging due to the expanded polystyrene is another potential factor for the growth of the expanded polystyrene market. The overall market is also driven by the environmental benefits associated with expanded polystyrene and the high recycling rate of expanded polystyrene.

Despite the various advantages of Expanded Polystyrene, there are some factors that are restraining and challenging the growth of the overall market. Factors such as the volatility of crude oil prices and the availability of substitutes such as polypropylene and bioplastics may thwart the overall growth of the expanded polystyrene market.

Key developments in Expandable Polystyrene Market

• In 2019, Versalis (Eni), a chemical company, launched its new type of expandable polystyrene (EPS) named Extir FL 3000 to prevent plastic leaks. This material offers the industry the opportunity to increase sustainable products in sectors such as food packaging, industrial packaging (for household appliances, furniture and motor vehicles), protective helmets, containers and seats. It also minimizes the risk of plastic granules leaking into the environment.

The main players in the market are BASF SE, Nova Chemicals Corporation, Synthos SA, Saudi Basic Industries Corporation (SABIC), Wuxi Xingda New Foam Plastics Materials Co., Ltd., The Ravago Group, Flint Hills Resources, LLC, Alpek SAB de CV

Verified market research segmented the global expandable polystyrene market on the basis of product type, application, and geography.

• Expandable Polystyrene Market, By Product Type
• Expandable Polystyrene Market, By Application
• Building and construction
• Packaging
• Other
• Expandable Polystyrene Market By Geography
• North America
• Europe
• Germany
• France
• UK
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• LINE
• Middle East & Africa
• Latin America

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