This Week's Top Stories About Expanded Polystyrene Market

 The EPS market is expected to grow from USD 15.5 billion in 2018 to USD 20.1 billion by 2023, at a CAGR of 5.3% during the forecast period. The major driving factors in the EPS market are the growing construction and packaging industries in the developing countries.

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The major EPS vendors include Wuxi Xingda (China), Synthos (Poland), BASF (Germany), Total (France), SUNPOR KUNSTSTOFF (Austria), The Ravago Group (Belgium), Alpek (Mexico), VERSALIS (Italy), Nova Chemicals (US), Flint Hills Resources (US), PJSC SIBUR HOLDING (Russia), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), Kaneka Corporation (Japan), Atlas Roofing Corporation (US), BEWiSynbra Group (Sweden), Brødr. Sunde A/S (Norway), Nexkemia Petrochemicals (Canada), and Unipol Holland (Netherlands). These players have adopted various growth strategies, such as mergers & acquisitions, investments & expansions, new product launches, and partnerships & agreements to further expand their presence in the global EPS market. Mergers & acquisitions and investments & expansions have been the most dominating strategy adopted by major players from 2015 to 2018, which help them innovate on their offerings and broaden their customer base.

In line with the rising demand for EPS materials, Synthos has been working to deliver efficient EPS products to various end-use industries. The company manufactures chemical raw materials, rubber, and polystyrene for foaming applications. It is one of the leading producers of EPS in Europe. The company caters to various end-use industries such as tire & rubber, thermal insulation, construction chemicals, packaging, wood & furniture, and paper. It offers EPS through its Styrenopochodne business segment. In August 2016, Synthos acquired the EPS business of INEOS Styrenics European Holding BV (Switzerland). Through this acquisition, the company accelerated its growth and offered access to expanded technologies and an enhanced product portfolio to the customers of both companies.

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BASF is a leading chemical company that offers a range of chemicals and intermediate solutions. The company operates through five business segments, namely, chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. It offers EPS under its functional materials & solutions business segment. The company has a strong customer base and operates in Europe, APAC, North America, and South America, and the Middle East & Africa. In June 2018, the company made investment and announced that it is increasing its global production capacity for Neopor by 40,000 metric tons per year. At the Ulsan site in Korea, BASF will switch the plant’s 85,000 metric tons capacity from white EPS Styropor to the improved insulation raw material grey Neopor EPS by 2018. This will allow the company to meet the growing demand for the grey material in the Asian market.

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Mergers & Acquisitions Was the Key Strategy Adopted by Industry Players to Achieve Growth in the Expanded Polystyrene Market

The expanded polystyrene market is projected to reach USD 18.97 Billion by 2022, at a CAGR of 5.1% from 2017 to 2022. The market is mainly driven by the growing construction and packaging industry in emerging countries.

Mergers & acquisitions was the key strategy adopted by industry players to achieve growth in the expanded polystyrene market. This strategy accounted for a share of 38.5% of the all the growth strategies adopted by key players in the market between 2013 and 2017. Companies are merging or acquiring competitors in emerging regions, due to the rising demand for expanded polystyrene from these regions. Besides merger & acquisitions, companies are also focusing on investments & expansions by expanding their production capacities and new product launches by increasing their product portfolios to fulfill the growing demand of consumers. These strategies together accounted for a share of 61.5% all the growth strategies adopted by key players in the market between 2013 and 2017.

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Europe was the most active region from 2013 and 2017, in terms of strategic initiatives. Investments & expansions was the most preferred strategy in this region by manufacturers to strengthen their position in the global expanded polystyrene market. Companies, such as Alpek SAB de CV (Mexico), SUNPOR KUNSTSTOFF GmbH (Austria), Synthos S.A. (Poland), The Ravago Group (Belgium), and Total S.A. (France) are the key players in Europe.

expanded polystyrene market

ACH Foam Technologies is another key manufacturer of expanded polystyrene. In September 2015, the company launched wine bottle packaging EPS with better design and tightening system for better protection of bottles. In October 2014, the company established a new plant in Fond du Lac, Wisconsin to produce high quality expanded polystyrene foam to meet the increasing demand for the product in the region.

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