[FURL=https://www.industryarc.com/Report/15845/expandable-polystyrene-market.html]Expandable Polystyrene Market[/FURL] is forecast to reach $12 billion by 2025, after growing at a CAGR of 4.7% during 2020-2025. With rise in the consumption of used for packaging, insulation and other industries. It is a closed cell, rigid foam material produced from Styrene (which forms the cellular structure), Pentane (which is used as a blowing agent). Growing public interest towards packaging products will further enhance the overall market demand for Expandable Polystyrene during the forecast period. Key Takeaways
Asia-Pacific dominates the expandable polystyrene market owing to increasing demand from packaging, Building & construction industries among with others.
Increasing demand for insulation for walls, foundations and roofing, is likely to aid in the market growth of Expandable Polystyrene.
COVID 19 pandemic will create hurdles for the Expandable Polystyrene market.
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Expandable Polystyrene Market Segment Analysis - Geography
APAC dominated the Expandable Polystyrene market with a share of more than xx%, followed by North America and Europe. India and China are the major market in this region for expandable polystyrene market. Because of the larger area and population, they have, there is a constant increasing demand for building and construction and owing to this the expandable polystyrene market will grow.
Expandable Polystyrene Market Drivers
Growing packaging sector
Packaging is among the high growth industries in India and developing countries @ 22-25% per annum and becoming a preferred hub for packaging industry. Currently the 5th largest sector of India's economy, the industry has reported steady growth over past several years and shows high potential for much expansion, particularly in the export market.
Implementation of Stringent Environment Regulations
Implementation of stringent government regulations related to Construction or infrastructure will increase the market demand for expandable polysyrene in the near future. In India government launches Pradhan Mantri Awas Yojana (Urban) Mission launched on 25th June 2015 which intends to provide housing for all in urban areas by year 2022.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Expandable Polystyrene market. In 2019, the market of Expandable Polystyrene has been consolidated by the top five players accounting for xx% of the share. Major players in the Expandable Polystyrene Market are Saudi Basic Industries Corporation, ACH Foam Technologies, LLC, Ineos Styrenics International SA, Alpek, S.A.B. De C.V., Sunpor Kunststoff GmbH, among others.
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