BASF announced its plans to build a new production plant for EPS in Guangdong, China. The plant, with an annual capacity of 100,000 metric tons, will support the growing demand for EPS in the Asia Pacific region. The facility is expected to start production in 2025.
Dow announced in May 2023 that it has partnered with leading European packaging manufacturer, Danapak Flexibles, to develop a recyclable stand-up pouch solution for liquid products. The collaboration aims to leverage Dow's advanced polymers, including EPS, to create sustainable packaging solutions that reduce plastic waste and enhance recycling capabilities.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 5163
Published Date: Aug 16, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing automotive sector advancements is the major factor driving the market growth.
The market size of expanded polystyrene is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.
The major players in the market are BASF SE, Dow Chemical Company, Synthos S.A., TotalEnergies SE, StyroChem International, SABIC, NOVA Chemicals Corporation, Kaneka Corporation, Alpek S.A.B. de C.V., and SEKISUI Chemical Co., Ltd., and others.
The automotive segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.