29 November 2019
Visiongain’s new report Grey vs White Polystyrene Market Report: Forecasts by Product (Grey, White), Application (Automotive, Construction, Packaging, Others), by region and analysis of leading companies operating in this industry.
The global grey vs white polystyrene market was valued at over 7 million tons in 2018 and is anticipated to grow at a CAGR of over 5% during the forecast period from 2020 to 2030. The market is anticipated to grow on account of growing demand from the packaging industry present in developing economies such as Japan, China, India, and Brazil to name a few. The grey and white polystyrene come under the category of expanded polystyrene (EPS). EPS is a low-density polymer structured in individual cells that provides excellent resistance to humidity, good protection against chemical barriers and lightweight characteristics. The application of graphite increases the insulation properties of finished products, which paves the way for use in the construction industry.
The growing importance of insulation property in the construction sector of developed and developing economies including China and India is anticipated to promote the usage of high-quality polymers. Increasing investment to improve the longevity of commercial and residential complexes during extreme external environmental factors is also anticipated to boost further growth over the forecast period from 2020 to 2030.
Also mounting demand for cold chain packaging solutions in the pharma sector as a tool for refining product safety and maintaining the freshness of packaged food during the transportation is anticipated to fuel market growth. Also, the improvement in the frozen food industry of major economies, including the United States and Japan, is expected to expand the scope of EPS in the packaging sector.
The population growth and urbanization in emerging Asia Pacific markets such as China, Japan, and India have increased government expenditure on developing the packaging, construction, and automotive industries manufacturing sector. For instance, in September 2014, India's government launched Make-In-India Policy, which aims to promote domestic investment in the manufacturing sector.
The growing popularity of lightweight polymer foam in the manufacture of automotive ancillaries is expected to fuel the demand for advanced materials as a result of ensuring driver comfort. The revival of the automotive industry in the U.S., Japan, and Germany is expected to drive demand over the forecast period.
The Asia Pacific is anticipated to witness a maximum growth of over 6% from 2020 to 2030 owing to the growing packaging and automotive sectors in China and India. Also, it is the home of the largest consumer and producer of EPS, with a maximum part in China. Large consumer base and growing construction activities in China, especially in infrastructure and residential projects is anticipated to fuel demand for grey and white polystyrene over the forecast period.
Some of the key Grey vs White Polystyrene market players include ACH Foam Technologies, Alpek, S.A.B. De Cv, BASF SE, Kaneka Corporation, PJSC Sibur Holding, SABIC, Sunpor Kunststoff GmbH, Synbra Holding BV, Synthos S.A., Brødr. Sunde A/S, Flint Hills Resources, LLC, Total S.A., Wuxi Xingda New Foam Plastics Materials Co., Ltd., The Ravago Group, Nova Chemicals Corporation, Atlas Roofing Corporation, Bewisynbra Group, Nexkemia Petrochemicals Inc., Unipol Holland Bv, Company20 among other prominent players.
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