United States Expandable Polystyrene (EPS) Market - Growth, Trends, and Forecast (2020 - 2025)
The market is segmented by Type (White and Grey and Silver) and End-user (Building and Construction, Packaging, and Other End-users)
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Scope of the Report
Key Market Trends
TABLE OF CONTENTS
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The United States expandable polystyrene (EPS) market is expected to grow at an estimated CAGR of over 2%, during the forecast period.
One of the major factors driving the growth of the market is the increasing construction activities in the country.
The availability of green alternatives is expected to hinder market growth.
Scope of the Report
The United States expandable polystyrene (EPS) market report includes:
Grey and Silver
Building and Construction
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Key Market Trends
Grey and Silver EPS to Drive the Market Growth
Manufacturers have created a highly-competitive market for EPS by modifying the regular grade EPS. The addition of flame retardants, graphite, and other additives have introduced the segment of ‘modified’ EPS.
Grey EPS is one such innovation wherein the addition of graphite has increased its refractive and reflective properties, to provide better thermal insulation. The graphite works on a very small-scale to increase the refraction of IR light and make the path for the escaping heat less direct. It has unique color (gray to black), good mechanical properties, high water resistance, and increased fire resistance. This allows for the use of the same equipment used to process conventional EPS.
Due to its unique properties, it allows for a reduction in thermal conductivity by 20%, and thus, reduces the board thickness by 20%, while still maintaining the same properties. It is used for the insulation of external walls, roof systems, foundations, floors, thermo-acoustic insulation, manufacture of insulated and left-in-place formwork, and lightweight building blocks.
The use of grey EPS significantly improves the insulation of both old and new buildings, and helps meet the criteria for reducing power costs. It has the same density as white EPS; however, it isolates 20% better.
This has made it particularly attractive in United States, where people are becoming more inclined toward housing renovation and lower maintenance costs.
Although the price for grey EPS is higher than white EPS, the increasing demand from the construction industry is expected to lower its price in the near future.
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Building and Construction Segment to Dominate the Market
The United States is the world’s largest and most powerful economy.
The construction industry in the United States witnessed a rapid growth over the past few years, as a result of increased private sector spending on residential construction.
Various regions in the United States, including Florida, San Diego, and Chicago, are constructing new hospitals, or expanding their original base, in recent years. Additionally, according to the survey by the Health Facilities Management, the construction of outpatient facilities has significantly increased across boards, when compared to the previous year.
Residential construction in the country is projected to have a growth of almost 6% in the forecast period, due to an increase in the construction of single and multiple family housing in the country.
Thus, such trends in the construction sector is likely to influence the demand for EPS in the country during the forecast period.
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The United States Expandable Polystyrene (EPS) is highly consolidated with the top players accounting for a major chunk of the market. Some of the key players in the market include StyroChem, NexKemia, Flint Hills Resources, NOVA Chemicals Corporation, and Styropek, amongst others.