According to a new market research report published by sheer analytics and insights, “The Global Expanded Polystyrene Market was valued at $10.1 Billion in 2020. Growing at a high CAGR of more than 3.2% between 2021 and 2031, it is estimated to reach $14.5 Billion by 2031, as per the latest market research report titled, Global Expanded Polystyrene Market - Industry analysis, size, share, growth, trends, and forecast, 2021 – 2031.
Increased demand for sustainable and lightweight solutions that helps to provide extreme durability along with improved thermal insulations will help to accelerate the growth of this market during the forecasted period. The increased demand for acoustic and thermal insulation in the building and construction industry in developing countries will also help to increase the demand for high-quality polymers. the increased demand among the consumers for durable residential and commercial buildings that can withstand extreme changes in the external environment will also help in the growth of the market during the forecasted period. but the COVID-19 pandemic has affected the industry as there has been a decline in the construction industry affecting the demand of this market.
Geographically, The Global Expanded Polystyrene Market is divided into global regions like North America, Europe, Asia- Pacific, South America, Middle East, and Africa.
The major key players in Global Expanded Polystyrene Market include BASF SE, KANEKA CORPORATION, Total, NOVA Chemicals Corporate, Ravago, SABIC, INEOS STYROLUTION GROUP GmbH, Synthos, Wuxi Xingda, PJSC Sibur Holding, BEWiSynbra Group, Flint Hills Resources, Unipol Holland B.V., Versalis S.p.A., Brodr. Sunde.
The Global Expanded Polystyrene Market Has Been Segmented Into:
Global Expanded Polystyrene Market, By Product
Global Expanded Polystyrene Market, By Application
Global Expanded Polystyrene Market, By Region