The growing food takeout and delivery industry is the major growth driver of the global EPS packaging market. The demand for EPS from this industry is high because EPS can be painted and coated, which further enhances its properties like mechanical strength and water vapor diffusion resistance.
Complete report on EPS packaging market spread across 69 pages, analyzing 5 major companies and provides 34 data exhibits is now available at http://www.sandlerresearch.org/global-expanded-polystyrene-packaging-market-2016-2020.html
The analysts forecast the global EPS packaging market to grow at a CAGR of 6.86% during the period 2016-2020. The high recycling rate of EPS makes it a more suitable material used for packaging compared to other plastic packaging materials. Recycled EPS can be used for foam packaging and also for making products such as CD cases and coat hangers. EPS is a plastic packaging material; however, it is less harmful to the environment compared to other plastic packaging materials used for the same applications. Also, EPS makes up only 0.1% of municipal solid waste in the US.
The growth of the takeout and delivery industry is expected to aid the growth of the EPS packaging market by the end of 2020. EPS packaging has numerous applications in this industry in the form of foam trays, EPS containers, packaging services, and EPS for dunnage. Investments in the food ordering industry have increased by nearly 13 times from 2013 to 2014. Also, the growth of the e-commerce industry will further encourage the prospects of the EPS packaging industry.
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The global EPS market is competitive and has the presence of both well-diversified global and regional vendors. The competition among these providers has intensified in the market based on product differentiation such as standard EPS for packaging and molding applications and EPS used in cushion packaging materials.
Key players in the Global Expanded Polystyrene Packaging Market: BASF, INEOS, Kaneka Corp., Saudi Basic Industries Corp. (SABIC), and Synthos. Other Prominent Vendors in the market are: ACH Foam Technologies, Alpek SAB de CV, Jackon, Knauf, Monotez, Nova Chemicals Corp., Owens Corning Corp., SC Adeplast S.A., Sunpor Kunststoff, Styrochem, Total SA, and Versalis.
Further, the report states that environmental and human health concerns about the use and effects of EPS negatively affect the demand for EPS packaging and hence the profit margin of vendors and the market growth.
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