The newly launched report by Stratview Research, titled ‘Polystyrene (PS) & Expanded Polystyrene (EPS) Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026’ has been bifurcated By Product (Polystyrene, Expanded Polystyrene), By End-Use (Transportation, Electrical & Electronics, Construction, Consumer Goods, Food & Beverage, Packaging), and Region.
According to the report The Polystyrene (PS) & Expanded Polystyrene (EPS) market is projected to grow from USD 38.3 billion in 2020 to USD 49.8 billion by 2026 at a CAGR of over 4.6% during the forecast period.
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Market Segmentation Analysis -
Based on end-use, the Polystyrene (PS) & Expanded Polystyrene (EPS) market has been classified into transportation, electrical & electronics, construction, consumer goods, food & beverage, and packaging. Under these, the packaging segment held a substantial market share in 2020 and is likely to grow at a considered CAGR during the forecast period. PS and EPS are extensively used in the packaging of electronic appliances, food, retail, and consumer goods, due to their lightweight properties and excellent insulation & weather resistance properties, thereby bolstering the segment growth.
By region, the Asia Pacific market held a significant market share in 2020 and is projected to grow at a healthy CAGR in the coming years. This growth is mainly ascribed to a strong presence of product manufacturers, strong automobile production, expanding construction industry growth, cheap labor availability, and easy access to raw materials. Also, the packaging and e-commerce sectors are booming thus offering lucrative opportunities to the market players in the region.
Key Players
The following are the key players in the market-
Research Methodology
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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