Technavio has announced the top five leading vendors in
their recent global expanded polystyrene (EPS) market
report. This research report also lists seven other prominent
vendors that are expected to impact the market during the forecast
period.
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Technavio has published a new report on
the global expanded polystyrene market from 2017-2021. (Graphic:
Business Wire)
EPS is extensively used in the building and construction,
packaging, and other applications such as automobile, medical,
marine, and sports and leisure. The growth in the end-user
industries is primarily driving the market growth. Economic growth
in developing countries, such as India, China, Mexico, Brazil, and
Russia, is fostering the market growth owing to the increase in
construction activities and increase in the disposable income of
customers, which is augmenting the growth of the automotive
industry.
Competitive vendor landscape
The key vendors of the global EPS market have a vast
geographical presence with large production facilities located
worldwide. A sizeable number of small regional vendors also operate
in the market and have significant shares. The competitive
environment in the market will further intensify over the next five
years with the increase in product extensions in terms of
innovation in technology.
“Vendors compete based on factors such as innovation, price,
operational cost, and product quality. Some of the players can
drive down the market prices because their costs are lower than
that of their competitor’s,” says Ajay Adhikari, a lead
plastics, polymers, and elastomers research analyst from
Technavio.
In addition, financial, technological, and other resources of
some of the suppliers are greater than that of their competitors,
and such players can withstand the changes in market conditions.
Most of the vendors adopt merger and acquisition strategy to tap
the potential growth in the EPS market.
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Top five EPS market vendors
Alpek
Alpek offers EPS under the plastics and chemicals business
segment. In FY2016, the EPS business of the company recorded
significant results, leading to high growth in the plastics and
chemicals segment. Several strategies such as integration of the
businesses acquired in South and North America in 2015, coupled
with a favorable margin environment from the Asian market, has
boosted the EPS segment.
The Dow Chemical Company
Dow provides EPS foam under the brand name STYROFOAM, which is
primarily used in the building and construction industry and its
related markets. Dow Building Solutions, a subsidiary of The Dow
Chemical Company, manufactured STYROFOAM extruded polystyrene (XPS)
foam consisting polymeric flame retardant (PolyFR) for automotive
and packaging end users, in April 2014.
Kaneka Corporation
Kaneka Corporation witnessed high growth in the EPS resins and
products segment owing to the rising demand from the fisheries and
agriculture sector. The EPS segment witnessed increasing demand
from the construction industry. However, the application of EPS in
Japan remained the same because of the slowdown in the Japanese
housing market.
Synthos
Synthos S.A. is one of the leading manufacturers of polystyrene
used for various foaming applications in the construction,
automotive, and packaging industries. The company aims to offer
high-quality EPS so that the EPS products offered by company
remains the insulation material of choice.
Total
The petrochemical business of Total S.A. consists of base
petrochemicals such as aromatics, olefins, and polymer derivatives
(polystyrene, polypropylene, polyethylene, and hydrocarbon
resins).
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About Technavio
Technavio is a leading global technology research and
advisory company. The company develops over 2000 pieces of research
every year, covering more than 500 technologies across 80
countries. Technavio has about 300 analysts globally who specialize
in customized consulting and business research assignments across
the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of
bottom-up and top-down approaches, besides using in-house market
modeling tools and proprietary databases. They corroborate this
data with the data obtained from various market participants and
stakeholders across the value chain, including vendors, service
providers, distributors, re-sellers, and end-users.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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