The global expanded polystyrene (eps) market is estimated to witness a healthy growth, at an estimated CAGR of around 5%, over the forecast period. The major factors driving the growth of the market studied are growth in construction industry in the Asia-Pacific & Eastern Europe, and advantage over competitive materials.
- Factors such as strict governmental regulations and decreasing demand from packaging industry are likely to hinder the markets growth.
- Recycling in EPS Industry is likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Increasing Demand from the Building and Construction Industry
- Expanded Polystyrene, owing to its properties of lightweight, durability, thermal efficiency, shock absorption, moisture resistance, usability, etc., is used in building and construction sector. It is used in making roofs, walls, floor insulation, closed cavity walls, road construction, etc.
- For construction insulation applications, the EPS foam is used for Rigid Cellular Polystyrene Thermal Insulation. This ASTM C578 standard addresses the physical properties and performance characteristics of EPS foam, as it relates to thermal insulation in construction applications.
- In construction sector, EPS is used in combination with other materials, such as steel (in sandwich panels, used for cold store construction), concrete (as an insulation core in tilt up wall panels), gypsum, and plasterboard (as skins for ceiling panels and other prefabricated components). Sheathing is one of the most basic and widely-used applications for EPS insulation in residential and commercial construction.
- Floorings and ceilings account for the largest market share of EPS application in the construction sector, followed by roofing systems. Moreover, EPS roofing insulation is used in roofing systems and provides cost-effective and consistent thermal performance.
- Increasing energy prices are forcing consumers to work toward increasing thermal efficiency of constructions to reduce their energy consumption, thus driving the market for EPS-based roofing systems.
- Owing to all the aforementioned factors, the market for expanded polystyrene is likely to grow during the forecast period.
Germany to Dominate the Market in Europe Region
- Germany is the largest consumer in the Europe region. Due to the booming housing market and real estate demand, the construction and building industry is expected to grow rapidly, which is expected to increase the consumption of expanded polystyrene during the forecast period.
- The housing market is facing strong demand fueled by rising incomes, low interest rates, as well as high-levels of net migration. Indeed, it is estimated that 3.6 million migrants will have arrived to Germany until 2020. There is housing demand for at least 350,000 new dwellings per year.
- Low interest rates, coupled with rising incomes have contributed to increased property prices, particularly in big cities, making it more difficult for middle-class households to afford housing. To alleviate some of the pressure in the housing market, the government introduced the so-called Housing Construction Campaign, namely a comprehensive package of measures aimed at tackling housing shortages and rising house prices.
- All these factors are expected to increase the market for expanded polystyrene in the region during the forecast period.
The global EPS market is fragmented, with major players being SABIC, BASF SE, INEOS Styrolution Group GmbH, among others. The market is fragmented due to the presence of a large number of Chinese players.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growth in construction industry in the Asia-Pacific & Eastern Europe
4.1.2 Advantage Over Competitive Materials
4.2.1 Strict Governmental Regulations
4.2.2 Decreasing Demand from Packaging Industry
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Patent Analysis
4.6 Import-export Trends
4.7 Technological Snapshot
4.7.1 Current Technologies
4.7.2 Upcoming Technologies
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 White EPS
5.1.2 Grey and Silver EPS
5.2 End-user Industry
5.2.1 Building and Construction
5.2.5 Other End-user Industries
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Nordic Countries
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 ACH Foam Technologies
6.4.3 Eastchem A.S.
6.4.4 Flint Hills Resources
6.4.5 Formosa Plastics Corporation
6.4.6 Zhenjiang Chimei Chemical Co. Ltd
6.4.7 Jiangsu Nijiaxiang Chemical Co. Ltd
6.4.8 Jiangyin Sunping New Material Co. Ltd
6.4.10 Loyal Group
6.4.11 Ming Dih Group Corporation
6.4.12 Nova Chemicals Corporation
6.4.13 Owens Corning
6.4.15 Polimeri Europa
6.4.16 Polioles S.A. de C.V.
6.4.19 INEOS Styrolution Group GmbH
6.4.20 Sunde Group
6.4.22 Supreme Petrochem Ltd
6.4.23 Synthos S.A.
6.4.24 Taita Chemical
6.4.25 Thai ABS Co. Ltd
6.4.26 Tianjin Jiatai Weiye Chemical Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Recycling in EPS Industry
7.2 Huge Investments in Research and Development (R&D)
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.