THE expanded polystyrene market is projected to reach $ 18.97 billion by 2022, at a CAGR of 5.1 percent from 2017 to 2022, according to Markets and Markets research report. The market is mainly driven by the growing construction and packaging industries in emerging countries. Expanded polystyrene is widely used in the construction industry, due to closed air low thermal conductivity, lightweight (ease of handling), mechanical resistance (insulation in wall structure, roofs flooring), low water absorption (prevents damage due to humidity), and sound resistance (in offices). Packaging is a major component of a company's successful marketing strategy, fostered by innovation. The growth of the packaging industry is thus consequently expected to fuel the growth of the expanded polystyrene market.
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