img

Global Extruded Polystyrene Market Size By Application, By End Use, By Geographic Scope And Forecast


Published on: 2024-08-08 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global Extruded Polystyrene Market Size By Application, By End Use, By Geographic Scope And Forecast

Extruded Polystyrene Market Size And Forecast

Extruded Polystyrene Market size was valued at USD 5.98 Billion in 2024 and is projected to reach USD 7.63 Billion by 2030, growing at a CAGR of 3.1% during the forecast period 2024-2031.

Global Extruded Polystyrene Market Drivers

The market drivers for the Extruded Polystyrene Market can be influenced by various factors. These may include

  • Growth of the Construction Sector XPS is widely utilised in the building sector for insulation in residential, commercial, and industrial structures. Thus, the demand for XPS insulating materials is directly impacted by the expansion of the construction industry.
  • Energy Efficiency Rules Because XPS reduces energy usage for heating and cooling, it is in high demand due to strict rules and policies targeted at boosting energy efficiency in buildings.
  • Urbanisation and Infrastructure Development There is a growing need for XPS for thermal insulation applications in new construction projects due to the world’s rapid urbanisation and infrastructure development projects, particularly in emerging nations.
  • Consumer Preference for Sustainable Materials As people become more conscious of environmental issues, there is an increasing need for environmentally friendly and sustainable building materials. In order to accommodate this demand, XPS manufacturers are developing to provide environmentally friendly solutions.
  • Product Innovations and Technological Advancements By extending the applications of XPS, ongoing research and development efforts to enhance its performance characteristics—such as greater heat resistance, fire resistance, and moisture resistance—drive market growth.
  • Recovering in the Automotive Sector XPS is also utilised for soundproofing and insulation in automobiles. The XPS market may benefit from the automotive industry’s post-recession rebound or expansion as a result of rising demand.
  • Government Programmes and Subsidies The demand for XPS insulation can be greatly increased by government programmes, subsidies, and incentives that support the adoption of energy-efficient building materials.
  • Extreme Weather Conditions As a result of climate change, there is a growing need for XPS insulation materials in buildings since improved insulation is necessary to maintain pleasant inside temperatures.
  • Industrialization and Manufacturing Activities As these two sectors grow, there is a greater need for cold storage facilities and industrial insulation, both of which make substantial use of XPS.
  • Infrastructure Rehabilitation and Renovation As more energy-efficient alternatives are used to replace outdated insulating materials, renovation and rehabilitation projects involving already-existing buildings and infrastructure also raise the need for XPS.

Global Extruded Polystyrene Market Restraints

Several factors can act as restraints or challenges for the Extruded Polystyrene Market. These may include

  • Environmental Regulations Tighter environmental laws governing the use and discarding of polystyrene goods may impede the expansion of the market. Because XPS is not biodegradable and may have negative effects on the environment, governments and environmental organisations may put limitations on its use.
  • Health Worries The possibility for polystyrene to leak hazardous chemicals into the environment or food products may be causing increasing public worries about the material’s effects on health. Reactions from customers and legal limitations on the usage of XPS in specific applications could result from this.
  • Substitution by Alternative Materials The market expansion for XPS may be constrained by competition from alternative materials such expanded polystyrene (EPS), polyurethane foam, and other insulating materials. These substitutes might provide equivalent results at reduced expenses or with advantages for the environment.
  • Variable Raw Material Prices A number of factors, including shifts in the price of oil, disruptions in the supply chain, and geopolitical unrest, can affect the cost of raw materials used in the production of extruded polystyrene, such as styrene monomer and polymerization catalysts. This may limit market expansion and have an effect on the XPS makers’ profits.
  • Volatility in the Construction Sector Since extruded polystyrene is frequently utilised as insulation in the construction sector, market expansion is directly correlated with the sector’s state. The demand for XPS insulation solutions can be impacted by government infrastructure investment, construction activity variations, and economic downturns.
  • Poor Recycling Infrastructure There may be issues with waste management and environmental sustainability in some areas due to poor or underdeveloped recycling infrastructure for polystyrene materials. The absence of viable recycling alternatives may impede XPS’s market expansion, particularly in regions where recycling programmes are given top priority.
  • Technological Developments New and improved insulating materials that rival XPS in terms of performance, affordability, or environmental sustainability may be developed as a result of developments in materials science and insulation technology. If other materials become popular in the market, this could be a problem for the expansion of the XPS market.

Global Extruded Polystyrene Market Segmentation Analysis

The Global Extruded Polystyrene Market is Segmented on the basis of Application, End Use, And Geography.

Extruded Polystyrene Market, By Application

  • Foundation
  • Wall
  • Roof
  • Floor & ceiling
  • Others

Based on Application, the market is segmented into Foundation, Wall, Roof, Floor & Ceiling, and Others. Foundation segment holds a significant market share in the Extruded Polystyrene Market in 2022. In terms of value, the foundation category is anticipated to develop at the greatest CAGR. When compared to other construction components like walls or roofs, the foundation of a structure loses a significant amount of energy. As a result, the foundation needs to be well insulated in order to minimize energy losses and moisture intrusion. Due to its numerous characteristics, including high compressive strength and moisture resistance, the XPS not only reduces energy consumed for heating and cooling but also strengthens the entire infrastructure.

Extruded Polystyrene Market, By End Use

  • Residential
  • Commercial
  • Others

Based on End Use, the market is segmented into Residential, Commercial, and Others. Residential segment dominated the Extruded Polystyrene Market with the highest market share in 2022. Residential structures are currently being built or modified with an emphasis on energy-efficient practices due to rising awareness of energy efficiency and the need to minimize carbon emissions. Excellent thermal resistance is provided by XPS insulation, which reduces heat transmission and raises the total energy efficiency of residential buildings. Materials for insulation in residential structures must be long-lasting. Boards made with XPS insulation are renowned for their sturdiness and longevity. They protect the insulation against moisture, decay, and vermin, preserving its effectiveness for the duration of the structure.

Extruded Polystyrene Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

On the basis of Geography, the Global Extruded Polystyrene Market is classified into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific region accounted for the highest market share in the Extruded Polystyrene Market in the year 2022. During the projected period, the APAC region’s XPS industry is anticipated to develop at the greatest CAGR. The region’s market for extruded polystyrene is expanding quickly due to urbanisation.

In the APAC region, countries like China and India are anticipated to lead XPS demand throughout the projected period because to rising government and private sector expenditures in infrastructure development. As a result, there is tremendous potential for XPS demand in the building sector. Office space needs are considerably increasing as a consequence of demand from businesses in the banking and financial services, technology, and e-commerce sectors, leading to the development of additional offices in the area. China is one of the top nations for the building of retail centers, for instance. Nearly 4,000 shopping malls already exist in China, and another 7,000 are expected to build by 2025.

Key Players

The major players in the Extruded Polystyrene Market are

  • BASF SE
  • Synthos S.A.
  • DuPont de Nemours Inc.
  • Saint-Gobain Isover SA
  • Knauf group
  • Owens corning Inc.
  • TechnoNicol Corporation
  • Austrotherm GmbH
  • Ursa Insulation SA
  • Penoplex SPB LLC.
  • BASF SE (Germany)
  • Dow Inc. (US)
  • DuPont de Nemours, Inc. (US)
  • Kingspan Group PLC (Ireland)
  • Owens Corning (US)
  • Saint-Gobain (France)
  • Synthos S.A. (Poland)
  • Ravago S.A. (Belgium)

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2030

BASE YEAR

2024

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

BASF SE, Synthos S.A., DuPont de Nemours Inc., Saint-Gobain Isover SA, Knauf group, Owens corning Inc., TechnoNicol Corporation

SEGMENTS COVERED
  • By Application
  • By End Use
  • By Geography
CUSTOMIZATION SCOPE

Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )