The Asia Pacific expanded polystyrene (EPS) market is predicted to record a CAGR of 5.93% in terms of revenue. With regard to volume, the market is set to register a CAGR of 5.25%, during the forecast period, 2019-2028. The upcoming and on-going development projects, and increasing interest from household and cold chain packaging domains, are estimated to propel the market growth of the region. There is also a growing demand for EPS insulation due to rising real estate and construction activities, along with various government policies.
South Korea, Japan, India, China, Indonesia, Thailand, Australia & New Zealand, Vietnam, Malaysia, and the rest of Asia Pacific, are evaluated for the Asia Pacific expanded polystyrene (EPS) market growth analysis. In India, the domestic manufacturing of advanced refrigerators is growing, supplemented by a thriving demand for FDA compliant polymers so as to manufacture disposable plastic cutleries and other kitchenware. Packaging is gaining its strength in the field of primary packaging in Malaysia. The rising demands for consumer-friendly packages and improved product protection have strengthened flexible packaging as a viable alternative. The conventional rigid packaging solutions are replaced by flexible, innovative packaging, due to the increasing focus on sustainability.
Packaging constitutes the largest application segment in the Vietnam plastics market. The growth of engineering plastics in the packaging segment is attributed to chemical and wear resistance, puncture resistance, high mechanical strength, and ease of molding. Also, the construction industry of the country has been witnessing steady growth for the past 10 years. The government efforts to enhance the quality of the country’s overall infrastructure, tourism infrastructure, and housing projects, are set to benefit the construction industry further. Such factors are projected to contribute to overall market growth.
Some of the leading companies in the market include, Kaneka Corporation, Sunpor Kunststoff GmbH, LG Corporation, Jackon GmbH, Bewisynbra Group AB, etc.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments