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.

GCC Expanded Polystyrene Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028

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

What are the major Driver the GCC Expanded Polystyrene industry?

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.

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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 - Market Size & Forecast 2018-2028F, Thousand Tons
  • Grey & Silver- Market Size & Forecast 2018-2028F, Thousand Tons
  • Black- Market Size & Forecast 2018-2028F, Thousand Tons

According to report, Of these three, white EPS holds a significant share of the GCC Expanded Polystyrene Market, backed by its ever-increasing use in various sectors across the region.

• By Production Method
  • In-Situ Suspension- Market Size & Forecast 2018-2028F, Thousand Tons
  • Post-impregnation Suspension- Market Size & Forecast 2018-2028F, Thousand Tons
• By End User
  • Building & Construction- Market Size & Forecast 2018-2028F, Thousand Tons
  • Electrical a nd Electronics- Market Size & Forecast 2018-2028F, Thousand Tons
  • Packaging- Market Size & Forecast 2018-2028F, Thousand Tons
  • Automotive- Market Size & Forecast 2018-2028F, Thousand Tons
  • Others (Automotive, Healthcare, Agriculture, etc.)- Market Size & Forecast 2018-2028F, Thousand Tons

According to report, Here, the building & construction sector holds a prominent market share owing to massive investments in various infrastructure development projects like transportation networks, smart cities, etc.

Explore the Complete GCC Expanded Polystyrene Market Analysis Report –

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GCC Expanded Polystyrene Market Share & Competitive Landscape:

GCC Expanded Polystyrene Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Geographical Analysis: GCC Expanded Polystyrene Market

By Country:

•  The UAE
• Saudi Arabia
• Qatar
• Oman
• Kuwait
• Bahrain

Leading Companies in the GCC Expanded Polystyrene Market are:

• BASF
• TotalEnergies
• SABIC
• Ravago Manufacturing
• Styro
• Kuwait Styrene Company (TKSC)
• Kuwait Polymer
• STYROQ
• Al-Musaha Al-Mushtaraka Company
• Unitech Qatar

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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