Forecast on Expandable Polystyrene (EPS)
From it’s material, process, applications, as well as potential for sustainable use, expandable polystyrene (EPS) has been regarded as the necessity for various uses: Forecast on expandable polystyrene.
Particularly for packaging and construction as two most important niche for EPS (nearly 90% market share). The global growth rate for this material is moving at exponential rate.
Forecast on Expandable Polystyrene
EPS manufactures in Asia-Pacific Countires (APAC) remains optimistic that they can supply according to the demand, specifically in construction market (read below). Still stand as the global leader in both EPS production and consumption, with China at the top spot (followed by India), holding for nearly 40% of the market, volume-wise. The demand follows on other APAC countries where the construction rate is heavy.
As for North America, the demand remains stagnant as it reaches saturation point. European countries are currently experiencing a drop to moderate rate, but may increase in the coming months thanks to the development of the pharmaceutical industry.
EPS Uses And Applications
Rising demands in food and beverage industry (processed food market, particularly) contributed to the increase, progression in technology for electronics (smartphones, home appliances, and etc.), as well as building and construction segment, where EPS is considered as a staple, as major growth seen in infrastructure for the last few decades.
The industries mentioned here have one thing in common – they’re growing at highest rate, due to it’s nature to produce, processed (density, shape, strength, and other possible specifications, even color) that are customizable, as well as being time and cost-saving. Hence EPS are seen as the favorable material (and potentially tempting) if you want to push your company further.
Click here to read more on the basics of EPS, as well as how it’s processed.
What Can Be Expected With EPS?
Globally, the market is expected to grow at moderate pace in certain areas, with China, India, Middle East, and Europe will be seen as EPS producer. The slight downward rate is due to the declining rate in the European market.
In specifics, we can expect the heavy use if EPS in construction as the benefits of EPS still makes it as the preferred choice, outpacing F&B with the trend expected to continue for few years.
*Kindly take note, that while we strive to keep the information here as correct as possible, it should be treated for general purposes only. Read more on our disclaimer page here.
