Showing posts with label US Expandable Polystyrene market Growth. Show all posts
Showing posts with label US Expandable Polystyrene market Growth. Show all posts

Monday, November 20, 2023

Top 4 players in US Expandable Polystyrene (EPS) Market

 STORY OUTLINE

  1. Flint Hills Resources: Championing innovation and excellence by putting focus on four pills; Innovation, People & Communities, Environment, Health & Safety.
  2. NexKemia: Becoming a technical and service leader by producing Expandable Polystyrene products since 2008.
  3. The Dow Chemical Company: Maximizing long term value per share by becoming the most respected and valuable science company in the world.
  4. Alpek S.A.B. de C.V.: In the field of making Expandable Polystyrene since 1875 with presence in over 9 countries.
  5. According to Ken Research, the US Expandable Polystyrene (EPS) market is anticipated to reach a production of 430 Kilotons by 2028 by growing at a CAGR of ~2.9% in between 2022-2028.

The US Expandable Polystyrene market is rapidly growing and is anticipated to attain a significant level of growth in the upcoming years.

There are many reasons behind the growth of US Expandable Polystyrene market. Some of these reasons include increasing automotive sales, rapid construction and increase in urbanization rates, along with rise in the demand for sustainable packaging

Various companies and players are contributing to their best efforts in the growth of the US Expandable Polystyrene market.

This article aims to put light on the contributions done by the major players towards the growth of the US Expandable Polystyrene market.

1. Flint Hills Resources

US Expandable Polystyrene Industry

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Headquartered in Wichita, Kansas, this American chemical company holds a strong position in the US Expandable Polystyrene (EPS) market. With more than 3000 employees, presence in more than 60 locations, and a revenue of more than USD 2.5 Bn. in 2022, this company is in this field for more than 60 years.

Innovation, People & Communities, Environment, Health & Safety are the four pillars of this organization. They are operating with the vision of “championing innovation and excellence”.

They are concerned with making products primarily in three categories; Fuels, Aromatics, and Asphalt.

Their Expandable Polystyrene comes in three grades which are Grade 54, Grade 55, and Grade 71.

Grade 54 is a type of EPS that is designed for use in engineered building operations. This EPS has been tested for ASTM C578 and ASTM D-6817 standards. This comes in many subtypes which include I3354, S5354. I5354, S7354, 3454 etc.

Grade 55 is a type of EPS that is of regular grade which is primarily used for shape molding. It has been tested for CFR 177.160 and 21 CFR 174.5 regulations of FDA. It also has various sub-types which include 5355, 6355, 5455, and 6455.

Grade 71 is another EPS that is primarily used to make high strength containers for applications such as packaging. It has two subtypes which include 5371, and 7371.

2. NexKemia

US Expandable Polystyrene Market

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Headquartered in Quebec, Canada, this Canadian chemical company is the largest producer of Expandable Polystyrene market in the whole North America. With at least 70 employees, and more than USD 6.5 Mn. revenue in 2022, this company is in this field since 2008.

NexKemia makes EPS products in four grades which include Graphite Modified Grades, Modified Grades, Modified Low Pentane, Regular, and Regular low.

The Graphite Modified Grades, the first category comprises MT55L which contains flame retardant, and can be used in block molding, shape molding, and insulated cookers.

The Modified grade comprises M664D, M464D, M465D, M364D, M363D, M365D, M547D, M548D, M544D, M444D, M447D, M448D, M244D, and MG44C.

The Modified low pentane grade includes M534E, M434E, and M334E.

The Regular grade includes R641E, R441E, and R341E.

The Regular Low Pentane grade includes R549C, R249C, R539C, and R239C.

3. The Dow Chemical Company

US Expandable Polystyrene Sector

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Headquartered in Midland, Michigan, US; this American chemical company is one of the greatest contributor of US Expandable Polystyrene market.

With more than 37,000 employees worldwide, presence in more than 160 countries and more than USD 56 Bn. revenue last year, this chemical company has been in its business since 1897.

In the past, this chemical company has made over 40 investments and 9 acquisitions and has invested more than ~USD 18 Bn.

Some of their latest acquisitions include Clean Filtration, Dow Corning, and Nuvosun. Their major acquisitions primarily include Rohm and Haas.

They primarily deal in Hydrocarbon Exploration, Chemicals, Catalysts, Plastics, Performance Chemicals and Coatings.

Some of their products include polyurethane, polystyrene, polypropylene, polyethylene, synthetic rubber, cellulose resins, ethylene oxide, surfactants, pesticide lorsban, and stryofoam.

Some of the Expandable Polystyrene products of this company include MOR-AD 903-45EA Laminating Adhesive, AXELERON CC 3465 NT Telecom Cable Compound, AXELERON CX 4960 NT Telecom Cable Compound, APPEEL 11D554 Peelable Resin, DOWSIL 30-424 Additive, PARALOID B-60 100% Resin, PRIMAL WDV-2001 ER Emulsion Polymer, etc.

4. Alpek S.A.B. de C.V.

United States Expandable Polystyrene Industry

Headquartered in Greater Monterrey, Mexico; this Mexican chemical company holds a strong position in US Expandable Polystyrene market.

With more than 7000 employees, and more than 212 Bn. revenue, this company has been in this field since 1975.

This company is present in 9 countries out of which some of the countries are United States, Canada, Mexico, United Kingdom, Brazil, Chile.

It was also involved in the acquisition of Grupo Petrotemex, Indelpro, Polioles, Styropek, Unimor.

Indelpro is primarily concerned with the production and commercialization of polypropylene resins in the whole world. Polioles is associated with the manufacturing of polystyrene, emulsifiers, industrial polyols, surfactants, dispersants, etc. Styropek is known to be the largest producer of expandable polystyrene in the continent of America.

They have various lines of products which include PTA, PET, RPET, Fibres, PP, EPS, ARCEL, natural gas and specialty chemicals.

Their product ARCEL is a copolymer of EPS which has the ability to achieve same results as EPS but with 40% lesser volume.

Tuesday, November 7, 2023

Expanding Horizons: A Deep Dive into the US Expandable Polystyrene Market

 What is the Size of US Dry Type Transformer Industry?

US Expandable Polystyrene Market is expected to grow at a CAGR of ~% between 2022-2028 and is expected to reach ~USD Mn by 2028.

The flourishing e-commerce industry is generating consistent demand for protective packaging materials, where EPS shines due to its lightweight and cushioning properties, safeguarding products during transit.

The construction sector's emphasis on energy efficiency and sustainable building practices fuels EPS adoption for insulation applications. As regulations tighten to reduce energy consumption, EPS's exceptional thermal insulating capabilities make it a preferred choice for enhancing building efficiency.

Furthermore, the automotive industry's pursuit of lightweight materials for improved fuel efficiency, coupled with EPS's acoustic and thermal insulation qualities, drives its use in vehicle components, supporting growth.

US Expandable Polystyrene Market

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Also, increasing consumer awareness about environmental impact encourages the adoption of EPS as it is increasingly recyclable and even incorporates bio-based alternatives, aligning with sustainability goals.

Lastly, technological advancements and research in EPS manufacturing processes contribute to enhanced product quality and performance, further boosting market expansion.

US Expandable Polystyrene Market by Technology Type

The US Expandable Polystyrene market is segmented by type into Silver and Grey ESP and White ESP.

Based on Type, Grey and Silver type segment is emerged as the dominant segment in US Expandable Polystyrene market in 2022.

Grey and Silver EPS, also known as graphite-enhanced EPS, possesses enhanced thermal insulation properties due to the addition of graphite particles during the manufacturing process. This modification enhances its ability to reflect and trap heat, making it an excellent choice for applications requiring superior insulation performance.

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US Expandable Polystyrene Market by End User Application

US Expandable Polystyrene market is segmented by end user into Building and Construction Plastic, Automotive vehicles and Others.

Building and Construction market is dominant in end user application segment in US Expandable Polystyrene market in 2022. The building and construction industry relies on EPS due to its versatile properties, making it a key material for various applications within this sector.

EPS is highly regarded for its exceptional thermal insulation capabilities, lightweight nature, and ease of installation. In the building and construction sector, it finds extensive use in insulation materials for roofs, walls, and foundations. The material's energy-efficient attributes align with growing emphasis on sustainable and eco-friendly construction practices, helping builders meet stringent energy efficiency regulations.

US Expandable Polystyrene by Region

The US Expandable Polystyrene market is segmented by Region into North, East, West, South.

In 2022, the dominance region is East region in US Expandable Polystyrene market. the East region is home to densely populated urban centers, driving substantial demand for packaging materials and construction activities. EPS finds significant use in both these sectors due to its lightweight, insulating, and protective properties. Moreover, the East region's emphasis on sustainable building practices aligns with the eco-friendly aspects of EPS insulation materials, driving its adoption in the construction industry. The presence of major players in the EPS market, as well as raw material suppliers and distribution networks, in the East region further enhances its dominance. Proximity to suppliers and customers helps streamline the supply chain and reduce logistical costs.

Competition Scenario in US Expandable Polystyrene Market

the US expandable polystyrene (EPS) market featured several prominent players competing to capture market share. Companies like StyroChem, ACH Foam Technologies, NOVA Chemicals Corporation, and BASF SE were among the key participants in the market.

These companies are competing by focusing on product quality, innovation, and meeting evolving environmental regulations. As sustainability becomes a growing concern, companies that have invested in developing eco-friendly alternatives or recycling solutions have gained a competitive edge. The competitive landscape has also been influenced by shifts in consumer preferences, industry trends, and advancements in manufacturing processes.

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What is the Expected Future Outlook for the Overall Expandable Polystyrene Market?

The US Expandable Polystyrene market was valued at USD ~Million in 2022 and is anticipated to reach USD ~ Million by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022- 2028.

The expandable polystyrene (EPS) market has witnessed steady growth over the years due to its diverse range of applications across industries such as packaging, construction, automotive, and electronics. The market's growth can be attributed to factors such as urbanization, increasing consumer demand for packaged goods, and the need for energy-efficient and sustainable building materials.

In the packaging sector, EPS is valued for its lightweight and protective properties, making it a popular choice for cushioning and insulation of delicate items during transportation. As e-commerce continues to thrive, the demand for reliable packaging materials like EPS is likely to remain strong.

The construction industry has also significantly contributed to EPS demand. EPS is used in insulation applications, helping to improve energy efficiency in buildings. As energy regulations become more stringent, the demand for eco-friendly insulation materials like EPS is anticipated to rise.

Automotive manufacturers have incorporated EPS into various components to reduce the overall vehicle weight, thereby enhancing fuel efficiency and reducing emissions. As the automotive industry gradually shifts toward electric vehicles (EVs), EPS demand will increase due to its role in lightweighting and thermal insulation.

However, the future outlook for the EPS market is facing some challenges. One notable concern is the environmental impact of EPS waste. Traditional EPS foam is non-biodegradable and can persist in the environment for a long time. This has led to growing interest in sustainable alternatives and recycling methods for EPS.

To address these concerns, the industry has been exploring bio-based alternatives and improved recycling technologies for EPS. Innovations in chemical recycling and the development of biodegradable EPS could reshape the market landscape. Regulatory changes and consumer preferences for environmentally friendly materials are likely to drive adoption of these alternatives.

Thursday, October 19, 2023

The US Expandable Polystyrene (EPS) market is projected to produce 430 Kilotons Polystyrene by 2028

 The United States Expandable Polystyrene industry which currently has a production capacity  370 Kilotons is anticipated to grow at a CAGR of ~2.9% in the next five years as per the findings of Ken Research.

STORY OUTLINE

  • Increasing construction and building processes increase the demand for ESP as it is to be used in areas of thermal insulation, sound proofing, concrete formwork, etc.
  • Rising sales of automotive vehicles also raise the demand for ESP as it is typically used for seat cushioning, interior trim components, head impact protection, etc.
  • Rising customers’ demands for sustainable packaging also increase the demand for ESP as it is an environment friendly product.
  • Rapid urbanization means more e-commerce automotive sales and construction process which all ultimately accelerate the demand for ESP.

A Fast Growing industry, rapid construction processes, rising automotive sales and rapid urbanization along with increasing customers’ demands for sustainable packaging are the various reasons contributing to the growth of US Expandable Polystyrene market. This market is expected to grow at a CAGR of ~2.9% in between 2022-2028.

US EPS Market Size

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1. Rising construction processes: accelerating the US Expandable Polystyrene market

US EPS Market Analysis

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Buildings and construction processes are a huge user of Expandable Polystyrene (EPS). In constructions and buildings, this compound is used in various areas such as thermal insulation, sound proofing, concrete formwork, roofing systems, acoustic insulation, pre-fabricated panels etc.

The construction processes in the United States are on high rise considering the fact that US is a developed nation. We can also understand this by taking a look at the total amount spent on constructions over the past four years in the US.

Speaking of Residential construction, ~USD 0.8 million, ~USD 1 million, ~USD 1.2 million and ~USD 1.5 million was spent in 2019, 2020, 2021, and 2022 respectively.

For Non-Residential construction, ~USD 1.8 million, ~USD 2 million, ~USD 2.5 million and ~USD 3 million was spent in 2019, 2020, 2021, and 2022 respectively.

For Public construction, ~USD 3.8 million, ~USD 4.2 million, ~USD 5.5 million and lastly ~USD 6 million was spent in 2019, 2020, 2021, and 2022 respectively.

As the construction in the country rises, the demand for Expandable Polystyrene rises as it is to be used in various areas of building also, which helps in the growth of the US Expandable Polystyrene market.

2. Rising automotive vehicles: rising the demand for EPS in the country

US EPS Automotive Market

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Automotive vehicle industry is another area where there is a high use of Expandable Polystyrene. This is primarily due to the fact that EPS is used in various areas of automotive vehicles such as seat cushioning, interior trim components, head impact protection, Instrument panels, child car seats, acoustic insulation, sun visors, cavity filling, etc.

Automotive vehicles are on rise in the United States. Almost 92% of the households in the US have at least 1 automotive vehicle. Moreover, US have always sold automotive vehicles equal to or more than 14 million.

For instance, in 2018, there were ~17.25 million automotive vehicles sold. In 2019 as well, approximately 17 million automotive vehicles were sold. US witnessed a sharp decline in the sale in 2020 considering the global pandemic. In 2020, almost 14.5 million automotive vehicles were sold.

In 2021, the number again started progressing and almost 16 million automotive vehicles were sold. Lastly in 2022, again, almost 15 million automotive vehicles were sold.

With the rising sales of automotive vehicles, the demand for Expandable Polystyrene also increases since it is used in many areas of vehicles. The rising demand for EPS ultimately contribute to the growth of the US Expandable Polystyrene market.

3. Rising sustainable packaging: making use of Expandable Packaging

US EPS Market Forecast

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The awareness regarding sustainable packaging is rising in the United States. Nowadays, customers are keen in ensuring that their products have sustainable packaging used even if it is costlier than the normal packaging.

In fact, 60-70% of the US buyers have no problem in paying higher price if it is getting them sustainable packaging. Even in the Covid-19 pandemic, more than 55% of the US buyers revealed that the chances of them buying a product are more if it has sustainable packaging used.

More than 70% of the US population states that they want to change their buying habits and shift towards the products that make use of sustainable packaging. And thus, more than 65% of the people think that it is extremely important for the environment that their products are in sustainable packaging.

The growing customers’ demands of sustainable packaging increase the demand for Expandable Polystyrene thereby contributing to the growth of US Expandable Polystyrene market as this compound is environment friendly.

This is primarily due to the fact that this compound has higher durability and provides resistance to moisture meaning it can be used over and over, which means it can be recycled. Moreover, due to its amazing thermal insulation, it also helps in saving energy by reducing the requirement of heating and cooling in the buildings.

4. Rapid urbanization: boosting construction, E-commerce and automotive vehicles

US EPS Market Outlook

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The urbanization is increasing every year in the United States. In 2000s, 79% of the population was living in urban areas and 21% were living in rural areas. In 2010s, the number rose to 81% of the population living in the urban areas and 19% living in the rural areas. Currently, 83% of the population is living in urban areas and 17% of the people are still living in rural areas.

In 2030s, this number is projected to become 85% of the people living in urban areas and only 15% living in rural areas. In 2040s, we will have 87% of the people living in urban areas and only 13% living in rural areas. Furthermore, in 2050s, we will have 89% people living in urban areas and only 11% living in rural areas.

With rapid urbanization, the construction processes nationwide also increase. The E-Commerce also increases which ultimately increase the work of the packaging industry. Moreover, with rapid urbanization, the demand for automotive vehicles also rise which results in high sales of the automotive vehicles.

Since automotive vehicles, packaging and construction processes use Expandable Polystyrene as a key element; thus, the rapid urbanization ultimately helps in accelerating the US Expandable Polystyrene market.

CONCLUSION

Expandable Polystyrene (EPS) is a type of lightweight cellular plastic which is used in various fields such as building and construction, automotive vehicles, and sustainable packaging. Hence, the rise in automotive sales, rapid construction processes, and customer’s demands for sustainable packaging along with rapid urbanization are the various reasons that drive the US EPS market. As per Ken Research, this market is expected to grow at a CAGR of 2.9% in the next five years.