$49 billion, Opportunity by 2024 in the Polystyrene & Expanded Polystyrene Market: Global Key Vendors- ACH Foam Technologies, INEOS Styrolution, Trinseo S.A., Total S.A., BASF SE, SIBUR, SABIC

Sellbyville, DE -- (SBWire) -- 12/18/2018 --Global Market Insights, Inc. adds a new Polystyrene (PS) & Expanded Polystyrene (EPS) Market research report for the period of 2018-2024 focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

polystyrene & expanded polystyrene market is expected to have the faster growth with an estimated CAGR of 4.7% during forecast period. Expanded polystyrene has been among the largest commodity polymers produced across the globe. In recent years, EPS has been specified for the first layer of construction in passive building construction. With this EPS usage, an advanced building envelope is achieved for attainting the highest ratings.

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The packaging segment had more than 30% share in global polystyrene & expanded polystyrene market in 2017. Polystyrene has been considered as a cost-effective solution for rigid packaging as well as food packaging applications. The product usage in packaging food prevents food spillage and provides thermal insulation during storage of food and refrigerated transportation. These resins reduce weight and cost, and also provide convenience, freshness, information, and the aesthetics essential. The overall polystyrene & expanded polystyrene market will observe substantial demand in packaging application by 2025.

Asia Pacific region observed the highest market share exceeding 40% in the overall polystyrene & expanded polystyrene market in 2017. The huge share was accredited to the substantial growth shown by regional automotive and construction industries. The expanding traits of urbanization and population feeding necessities will drive the regional construction, energy, automotive healthcare and food sectors in the next decade. This in turn present strong potential for polystyrene & expanded polystyrene market demand by 2025.

Polystyrene (PS) & expanded polystyrene (EPS) market is projected to observe strong demand in insulation and foaming applications in construction sector by 2025. With EPS geofoam, the engineers and architects can develop the ideal blend of materials to deliver the efficient construction solutions. The use of EPS lowers the overall cost of construction and results into benefits to construction schedules since it is easy to handle during construction.

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The significant applications of the product include: as lightweight fill for construction, slope stabilization, runway and roadway sub-grade insulation, etc., EPS geofoam was used in a planned housing development in the coastal area of Great Yarmouth, UK. The construction segment is likely to have a growth of CAGR close to 5% in polystyrene & expanded polystyrene market by 2025.

Polystyrene & expanded polystyrene market has been facing intense competition in terms of performance, costs and availability in mutually-substitutable applications in the recent years. With polypropylene and polyethylene posing as the strongest competitors to PS & EPS, the market growth might be affected negatively in the near future.

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Major manufacturers include: ACH Foam Technologies, INEOS Styrolution, Trinseo S.A., Total S.A., BASF SE, SIBUR, SABIC, Flint Hills Resources, HIRSCH Servo etc. Manufacturers have been participating in strategic mergers & acquisitions in the highly fragmented polystyrene & expanded polystyrene market. For example, in Sept 2018, SABIC announced the acquisition of a 24.99% equity interest in Swiss Clariant AG. This strategic acquisition will ultimately help the company to diversify its product portfolio and to increase its market share.

Polystyrene & expanded polystyrene market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons & revenue in USD Million from 2014 to 2025, for the following segments:

Polystyrene & Expanded Polystyrene Market Of Product By End-user

Polystyrene
- Transportation
- Electrical & Electronics
- Construction
- Consumer goods
- Food & beverage
- Others
Expanded Polystyrene
- Transportation
- Electrical & Electronics
- Construction
- Consumer goods
- Food & beverage
- Others

Polystyrene & Expanded Polystyrene Market By Application
- Insulation
- Packaging
- Foaming
- Component manufacturing