Expanded Polystyrene: A route to Reinventing the Construction Sector
Shifting Focus towards Environmentally Sustainable Construction Materials
The increasing inclination towards eco-friendly construction polymers have increased the demand of Expanded Polystyrene in the construction sector. Various studies suggest that greenhouse gas emissions from buildings might reach an alarming state in the near future, if proper measures are not taken.
A report from the U.S. Green Building Council revealed that commercial and residential building sector accounts for more than one-third of the total carbon dioxide (CO2) emissions in the United States per year. Countries such as China and India are realizing the environmental implications of robust industrial development and urbanization.
The above mentioned factors and government measures towards ecofriendly construction materials are anticipated to fuel the growth of global expanded polystyrene market.
Key Growth Area in the Construction Sector
The construction and building industry is well aware of the challenges it is likely to face in the next millennium and thereby continuously seeks for new solutions. This is creating opportunities for expanded polystyrene as they can resolve some of the most critical as well as common issues in constructions. Use of expanded polystyrene can facilitate the production of cost-effective and energy-efficient materials.
The innovation of existing materials, to the development of new material combinations and additional multifunctional characteristics, have benefited the players in expanded polystyrene market. Concurrently, these polymer-based materials have additional properties, which are often not found in conventional materials. Expanded polystyrene is witnessing a high adoption, as a construction material and is also mixed with ceramics and metals in order to develop essential engineering materials that are used for constructing buildings, bridges and other infrastructure.
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Widespread Application in Food Packaging to Support the Growth of the Market.
Consumers are always on the move; this is majorly impacting the food consumption habit of consumers. Hence, companies are developing portable, easy-to-handle packages maintaining both quality and quantity of food products. This is escalating the growth of global Expanded Polystyrene market.
Expanded Polystyrene is used in packaging of fish and shell fish, meat, fruits, ice cream and others. Consumers are seeking a quick and easy solution for food consumption, especially during lunchtime and breakfast. Hence, brands are focusing on offering nutritious meals in convenient food packaging.
Offering convenience is becoming a priority for brands and manufacturers. The above factors will positively affect the demand of Expanded Polystyrene market.
Recycling Deadlocks to Coerce Market Players towards Extending Provisions on Reuse
Foams made of plastic or synthetic polymers such as Expanded Polystyrene cannot be recycled. Such foam materials are being actively used in production of high-performance protective packaging solutions.
Regulatory bodies are levying penalties on several leading players in the global foam protective packaging market to limit the production of Expanded Polystyrene-based foam, also known as Styrofoam.
Consumers are becoming more aware towards the adverse effects of waste Styrofoam on the environment. Avoiding the purchase of products packed in Expanded Polystyrene is a deteriorating trend for the growth of the global foam protective packaging market.
Moreover, inability to recycle has left companies at the tenterhooks of spending capital towards procurement of used Expanded Polystyrene. Companies are being forced to reuse their products and reproduce new ones, which is also entailing expensive modifications in the production machineries.
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Standout Engineering Capabilities Pave the Way for Growth
In recent years, polymers have become extremely important as engineering materials. In terms of application, they are now successfully competing with other major classes of materials.
Expanded Polymer has found renewed vigor in the construction industry. This is because Expanded Polystyrene come with capabilities such as low thermal conductivity, low weight, mechanical resistance, low water absorption, chemical resistance and others. Moreover, ease of handling and installation is anticipated to fuel the demand of Expanded Polystyrene in forecast period.
Large-Scale Players Routinely Subcontract to Smaller Specialized Players
The most prominent companies that are active in the global Expanded Polystyrene market are BASF SE, Total S.A., Alpek, S.A.B. De C.V., Trinseo SA, Wuxi Xingda New Foam Plastics Materials Co., Ltd., Synthos S.A. These companies resuming the marking of Expanded polystyrene and are able to guarantee a high level of reliability and quality consistency.
The leading players are engaged in expanding the production capacity of Expanded Polystyrene and also performing R&D for enhancing the quality of products.
- On 15 June 2018, At the Ulsan site in Korea, BASF a German chemical company and leading chemical producer across the globe, switched the plant´s entire 85,000 metric tons’ capacity from the classic white EPS (expanded polystyrene) Styropor® to the improved insulation raw material Neopor (gray EPS). This will allow the company to meet the growing demand for the gray material in the Asian market.
- On 31 Jan 2019, Styropek Mexico began a collaboration with one of its EPS suppliers to collect pentane emissions from the EPS bead pre-expansion and stabilization process.
An Adaptive Approach to Modern-day Research Needs
Expanded Polystyrene Market: In-Depth Assessment on Key Segments-
The global Expanded Polystyrene market is segmented by product, end-use and region
Country-specific assessment on demand for the Expanded Polystyrene has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous Expanded Polystyrene manufacturers, experts and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Expanded Polystyrene Market – Scope of the report
This report provides a forecast and analysis of the Expanded Polystyrene market. It provides historical data of 2013 along with estimated data for 2019, and forecast data up to 2027 in terms of revenue (US$ Mn) and Volume (Thousand Tons), according to a Fact.MR study.
The research propounds key trends that are currently influencing growth of the Expanded Polystyrene market along with the macro-economic indicators. This newly published and insightful report sheds light on key dynamics, and their impact on overall value chain from component suppliers to end users, which are expected to transform the future of the Expanded Polystyrene market.
The report also comprises the study of current issues with end users and opportunities for Expanded Polystyrene products. It also contains value chain analysis along with key market participants. In order to provide users of this report with a comprehensive view of the market, we have included detailed competitive analysis about market key players and strategic overviews.
The dashboard provides a detailed comparison of Expanded Polystyrene manufacturers on parameters such as total revenue, product offerings and key strategy. A list of key companies operating in the Expanded Polystyrene market provided in the report adds to the credibility of this exhaustive research study.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecast based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major companies operating in the Expanded Polystyrene market analyzed are BASF SE, Total S.A., Alpek, S.A.B. De C.V., Trinseo SA Sunpor Kunststoff GmbH, Versalis S.P.A., Flint Hills, Resources, LLC, PJSC Sibur Holding, Nova Chemicals Corporation Saudi Basic Industries Corporation (SABIC), Kaneka Corporation, Atlas Roofing Corporation, Bewisynbra Group, and others
Expanded Polystyrene Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered have been validated using the triangulation method to offer useful quantitative and qualitative insights on the Expanded Polystyrene market.
For ascertaining the market size on the basis of volume and value, revenues generated by leading players, coupled with their production capacities are taken into consideration. Backed by a proven & tested research approach, the report offered necessary information on the Expanded Polystyrene market.
Qualitative aspects gained from industry experts and opinion leaders have also been adhered to by the analysts while developing this insightful report on the Expanded Polystyrene market. Secondary research is leveraged for ascertaining the overall size of the Expanded Polystyrene market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influences the growth of the Expanded Polystyrene market, which includes global GDP growth rate, various industries growth rate, such as construction industry and packaging industry among others. This report serves as an authentic resource of intelligence on the Expanded Polystyrene market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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