The global expanded polystyrene foam market is expected to grow at a CAGR of more than 6% during the forecast period, 2017-2021.
Technavio has announced its latest market research report on the global expanded polystyrene foam market, under its plastics, polymers, and elastomers portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Alpek, The Dow Chemical Company, Kaneka, Synthos, and Total.
According to Ajay Adikhari, a lead analyst for plastics, polymers, and elastomers research at Technavio, “The construction industry in China is dominated by state-owned enterprises. The increased spending by the government on construction has propelled the country to the forefront of the global scenario. The high growth of the costruction market, in turn, has propelled the demand for EPS in the region”
The advances in technology, such as smart building technologies, in construction operations, attract contractors toward building new and advanced structures, especially in Switzerland, South Africa, and Egypt, which have a history of organized and firm structures. In addition, events such as the FIFA World Cup 2022, which is to be held in Qatar, and Expo 2020, which is to be held in Dubai, will increase the need for hotels and transportation networks in the Middle East, thereby fostering the demand for EPS.
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Growing focus on production of bio-based flexible foams
A few vendors in the marekt space are continuously investing on exploring opportunities in the global bio-based flexible foams market. BLOOM Holdings offers biologically sustainable and high-performance alternative products for petroleum-based flexible foams. The product is formulated with algae biomass and provides environmental benefits.
Growth in construction industry
With set up of new chemical factories, food processing, petroleum refining and communication infrastructure, the construction industry is booming mainly in developing countries. In the construction and infrastructure industry, EPS finds application in insulation. It provides high electrical and thermal insulation and is chemical resistant, which makes it ideal for both external and internal insulation. It is also used in flooring and roofing of buildings. Polymeric foam-based materials are widely used in construction applications as they have high mechanical strength, are lightweight, and the can make the construction thinner.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Expanded Polystyrene Foam Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Flexible Foams Market 2017-2021
- Global Polymer Based Solubility Enhancement Excipients Market for OSDF 2017-2021
- Global Polyethylene (PE) Foam Market 2017-2021
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