Expanded Polystyrene Packaging Market – Global Industry Insights, Trends And Forecast, 20172025
Expanded Polystyrene Packaging Market: Introduction Expanded polystyrene, commonly known as EPS, is a light-weight, rigid, cellular plastic made up of expanded polystyrene beads. EPS is one of the most preferable packaging materials, due to its flexibility and light-weight nature. The expanded polystyrene packaging market is
expected to grow rapidly during the forecast period, due to its excellent insulation, moisture resistance and chemical barrier protection properties. Request to sample copy of this Report @ https://www.insightsandreports.com/requestsample/234 Market Dynamics The expanded polystyrene packaging market is anticipated to develop during the forecast period, owing to their expanded use in frozen food industry and electronic appliances packaging reasons, coupled with the product’s recyclable nature. Expanded polystyrene, being 100% recyclable in nature, passed the Food and Drug Administration’s (FDA) environmental assessment, as it has lesser hazards on the environment, as compared to other packaging polymers such as styrene-acrylonitrile (SAN) and acrylonitrile butadiene styrene (ABS). This will act as a significant factor for the growth of expanded polystyrene packaging market. The predicted growth in the construction industry over the upcoming years demands more innovative building materials such as EPS. This is expected to significantly to the growth of EPS packaging market. According to Institution of Civil Engineers (ICE), the volume of construction output is expected to reach to $15.5 trillion worldwide by 2030. However, governmental regulation on the use of EPS, due to its environmental concerns can restrain the growth of expanded polystyrene packaging market. Product Insight: White EPS material is anticipated to be growing significantly over the forecast years, owing to its closed cell-structure, that ensures higher water resistance, low moisture transmission, lower cost and ease of fabrication. According to the Food and Agriculture Organization of the United Nations (FAO), white EPS used in food packaging and can consist of 95% air, which makes it relatively cheap for production. The expansion of EPS resins up to 40% of its original size, with addition of steam, also makes it a preferable packaging product for various foods and beverages. The market for Grey EPS is also expected to grow during the forecast period owing to their applications in electronics industries, due to excellent insulation properties. End-Use Insights: Expanded polystyrene packaging market for food & beverage end-use industry is expected to dominate the global market, as a large portion of the annually produced EPS is being utilized to package various food items and drinks. According to National Center for Biotechnology Information (NCBI), approximately 3.0 million tons of EPS is produced each year globally, out of which 70% of EPS products are being utilized by food & beverage industry for packaging.
Regional Insight: Asia Pacific expanded polystyrene packaging market is expected to hold a major share in the global market during the forecast period, due to increased use of EPS in packaging electronic appliances and food products in the developing countries such as China and India. According to Semiconductor Equipment and Materials International (SEMI), China accounted for 26% of the global packaging materials market in 2017.North America is expected to witness a significant revenue share in the EPS packaging market, due to higher adoption of expanded polystyrene by construction industry in the construction of roadways, homes, bridge underfills, and stadiums. Competitive Landscape Key market players operating in expanded polystyrene packaging market include NOVA Chemicals, BASF, DOW Chemicals, INEOS, Ravago Group, TOTAL SA, SABIC, Styrochem, Synthos SA, Brodr Sunde Group, Unipol Holland B.V., Versalis S.P.A., and Kaneka Corporation. Several market players are trying to modify EPS in a way, that is less hazardous to the environment and comparatively safer for human beings. For instance, In December 2017, Schaumaplast GmbH & Co.KG, one of the leading German manufacturers of packaging made of Expanded Polystyrene (EPS) and Expanded Polypropylene (EPP), started providing packaging materials composed of biomass-balanced Styrofoam, with the aim to conserve fossil resources and to reduce emission of greenhouses gases like CO2. About Us: Insights and Reports is a research and consulting group assisting the clients with 360-degree insights with real time qualitative and quantitative information. The Insights and Reports team is valued for continuous client-oriented services. Our data scientists monitor the markets pertaining to their expertise on a daily basis with the help of 150+ analysts to back them with accurate market studies.
Contact Us: Mr.Saby Insights And Reports, 2201 Cooperative Way #600, Herndon, VA 20171, USA. Tel: +1 703 574 4447 Email:sales@insightsandreports.com