April 02, 2019 13:15 ET | Source: Reports And Data Reports And Data
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The growth of the construction and packaging industries in developing countries is estimated to propel the market growth.
Market Size – USD 15.35 billion in 2018, Market Growth - CAGR of 5.4%, Market Trends – Growing demand for consumer goods
NEW YORK, April 02, 2019 (GLOBE NEWSWIRE) -- The global Expanded Polystyrene (EPS) Market is expected to reach USD 23.70 Billion by 2026, according to a new report by Reports and Data. Expanded Polystyrene (EPS) is the commonly used industry name for rigid material produced from the expanded polystyrene beads. EPS is a rigid, lightweight, plastic foam insulating material made from solid beads of polystyrene.
The increasing prominence of insulation property in the building & construction sector of developed economies comprising China and India is anticipated to support the usage of high-quality polymers. Moreover, an increase in spending for enhancing the longevity of residential buildings and commercial complexes in extreme, external environmental conditions is projected to stimulate the market demand for expanded polystyrene.
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Increasing demand for cold chain packaging in the pharmaceutical sector for improving product safety and maintaining the freshness of the packaged products in the food and beverages industry during transportation is anticipated to boost the market growth. Besides, advancement in the frozen food industry in developed economies including the U.S. and Japan is expected to increase the scope of EPS in the packaging sector during the forecast period.
In recent years, increase in population and urbanization in emerging economies including Brazil, India and China have resulted in increased government spending on improving the manufacturing sector of packaging, construction, and automotive industries.
Availability of better substitutes for expanded polystyrene in the market is a significant restraint that may have a negative impact on the market demand.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/expanded-polystyrene-eps-market
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented global expanded polystyrene market on the basis of product type, material, process, application, end-user, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Material Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Process Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
End-User Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
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