MarkNtel Advisors recently published a detailed industry analysis of the GCC Expanded Polystyrene Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Insights and Analysis of the GCC Expanded Polystyrene Market (2023-2028)

The GCC Expanded Polystyrene Market is projected to grow at a CAGR of around 6.4% during the forecast period, i.e., 2023-28.

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What is driving the GCC Expanded Polystyrene market?

Increasing Infrastructure Development in the Tourism Sector - GCC countries like the UAE, Qatar, & Saudi Arabia have recognized the potential of tourism for diversifying their economy, owing to which they have developed comprehensive tourism development strategies to attract more tourists. In line with this, several hotels, resorts, entertainment venues, etc., are being constructed across the region, i.e., pushing the demand for EPS for insulation in walls, roofs, & floors. Saudi Arabia aims to increase the tourism sector's contribution to the EPS demand to more than 10% and attract 100 million annual visits by 2030. Similarly, the UAE aims to welcome 40 million hotel guests by 2031, i.e., in line with the UAE Tourism Strategy 2031. Consequently, the region is witnessing an increasing number of hotel construction projects. As of 2023, there are 159,424 hotel rooms under contract for development, and Saudi Arabia is at the forefront of tourism development, with a pipeline of 100,071 hotel rooms. Hence, the rise in construction activities associated with the tourism sector is projected to drive the GCC Expanded Polystyrene Market during 2023-28.

What segments define the GCC Expanded Polystyrene market from 2023 to 2028? How do these segments contribute to market dynamics and growth?

By Type,

(White, Grey & Silver, Black),

By Production Method

(In-Situ Suspension, Post-impregnation Suspension),

By End User

(Building & Construction, Electrical and Electronics, Packaging, Automotive, Others (Automotive, Healthcare, Agriculture, etc.))

Region

(The UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar)

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Who are the leading key players shaping the GCC Expanded Polystyrene Market landscape?

BASF, Kaneka Corp., SIBUR Holding, BEWI, SUNPOR, Synthos, TotalEnergies, SABIC, Sundolitt Ltd., UNIPOL, Ravago Manufacturing, Styro Qatar, Al Muhaidib Polystyrene Production Company, Kuwait Styrene Company (TKSC) and Other

Questions Addressed in this Study

1.What factors are driving the GCC Expanded Polystyrene Market growth?

2.How is the GCC Expanded Polystyrene Market expected to grow over the next five years?

3.What are the key insights into the current trends in the GCC Expanded Polystyrene Market?

4.What is the current size of the GCC Expanded Polystyrene Market, and how is it projected to change in the future?

6.What is the future outlook for the GCC Expanded Polystyrene Market in terms of technological advancements and market expansion?

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