Houston, TX, March 06, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Extruded Polystyrene Insulation Materials Market By Application (Residential Construction And Non-Residential Construction), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Extruded Polystyrene Insulation Materials Market size & share in terms of revenue was valued at USD 6.12 billion in 2022 and it is expected to surpass around USD 8.22 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.31% during the forecast period 2023 to 2030.”
What is Extruded Polystyrene Insulation Materia? How big is the Extruded Polystyrene Insulation Materia Industry?
Extruded Polystyrene Insulation Materia Report Coverage & Overview:
Extruded polystyrene (XPS) is a homogenous thermoplastic aromatic polymer that is manufactured via an extrusion process. It is a polystyrene foam that has a characteristic blue, green, and pink color. The manufacturing process of extruded polystyrene (XPS) usually includes the melting of thermoplastic resin, which is then further passed into the extruder with blowing agents and other special additives. Extruded polystyrene is an utterly functional thermal insulation material and is frequently used as foam board insulation. It is extensively used in the constriction of insulating concrete forms (ICFs), insulating panels, pipelines, floors, and basements.
It is anticipated that the Extruded Polystyrene (XPS) Insulation Materials Market would experience significant expansion over the course of the following few years. This market segment is included in the global market for insulation materials. Insulation materials made of extruded polystyrene, also known as XPS, are used extensively in the construction industry for a variety of applications, including roofs, walls, and flooring. They are renowned for having superior insulating capabilities, being extremely long-lasting, and being resistant to the accumulation of moisture.
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Global Extruded Polystyrene Insulation Materials Market: Growth Dynamics
The global extruded polystyrene insulation materials market is expected to surge exponentially due to an increase in the construction of buildings and commercial spaces in various cities across the globe. Thus, the growth of the real estate and construction sector drives the growth of the market. Besides, there has been an immaculate surge in demand for smart cities and green buildings due to advancements in technology and an increase in awareness about the impact of constructing buildings on the environment and human health.
Green construction is gaining massive popularity in various countries because it favors in reducing overall waste with effective and controlled use of water, material, and energy. Thus, extruded insulation materials play an important role in the construction of green buildings to appreciably minimize structure resources and energy consumption. In addition, persistent advancements in technology and an increase in the use of extruded polystyrene insulation materials in the construction of various roadways and railway projects due to their immense compressive strength are predicted to create ample opportunities for the growth of the market during the forecast period. However, fluctuations in the prices of raw materials impede the growth of the extruded polystyrene insulation materials industry to an extent during the forecast period.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 6.12 billion |
| Projected Market Size in 2030 | USD 8.22 billion |
| CAGR Growth Rate | 5.31% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Emirates Extruded Polystyrene LLC, BASF SE, Kingspan Group, Owens Corning, Jackon Insulation GmbH, Abrisonv, URSA Insulation SA, Ravago, SopremaInc., and Austrotherm. Other emerging players working in this market include Loyal Group, Penoplex SPB LLC, Knauf Insulation, Foamex Victoria Pty., Ltd., Xella International GmbH, Synthos S.A, Technonicol Corporation, and The Ravago Group |
| Key Segment | By Application and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Extruded Polystyrene Insulation Materials Market: Segmentation Analysis
The global extruded polystyrene insulation materials market is segmented based on application and region.
Based on application, the market is bifurcated into residential construction and non-residential construction. The non-residential segment held the largest market share in 2022 and is further anticipated to occupy a dominant market share, and simultaneously grow at a significant CAGR of 5.01% during the forecast period. The major reason for the growth of this segment is that extruded polystyrene (XPS) is widely adopted in the non-residential sector due to its low water absorption and exceptional compressive strength. Thus, its increased thermal performance, constriction strength and moisture resistance make it ideal for roof and wall applications in numerous commercial and industrial applications. Furthermore, it reduces the overall consumption of natural resources be it gas, coal, oil, and others. These factors drive the growth of the segment during the forecast period.
The global Extruded Polystyrene Insulation Materials Market is segmented as follows:
By Application
- Residential Construction
- Non-residential Construction
Browse the full “Extruded Polystyrene Insulation Materials Market By Application (Residential Construction And Non-Residential Construction), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/extruded-polystyrene-insulation-materials-market
Competitive Landscape
Some of the main competitors dominating the global Extruded Polystyrene Insulation Materials Market include -
- Emirates Extruded Polystyrene LLC
- BASF SE
- Kingspan Group
- Owens Corning
- Jackon Insulation GmbH
- Abrisonv
- URSA Insulation SA
- Ravago
- SopremaInc.
- Austrotherm.
- Loyal GroupPenoplex SPB LLC
- Knauf Insulation
- Foamex Victoria Pty. Ltd.
- Xella International GmbH
- Synthos S.A
- Technonicol Corporation
- The Ravago Group
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Extruded Polystyrene Insulation Materials Market size is likely to expand at a CAGR of around 5.31% during the forecast period (2023-2030).
- In terms of revenue, the Extruded Polystyrene Insulation Materials Market size was valued at around US$ 6.12 billion in 2022 and is projected to reach US$ 8.22 billion by 2030.
- The rapid expansion of the real estate sector and growth in the economy in various countries has led to an increase in construction activities in the last couple of years. Thus, an increase in the construction of green buildings and the growing trend of constructing smart cities propel the growth of the market.
- Based on application, the non-residential segment led the dominating market share in 2022.
- Based on region, the Asia-Pacific region held the largest market share in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Extruded Polystyrene Insulation Materia industry?
- What are the main driving factors propelling the Extruded Polystyrene Insulation Materials Market forward?
- What are the leading companies in the Extruded Polystyrene Insulation Materia Industry?
- What segments does the Extruded Polystyrene Insulation Materials Market cover?
- How can I receive a free copy of the Extruded Polystyrene Insulation Materials Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
Based on region, the Asia-Pacific region held the dominating market share in 2022 and is further predicted to grow exponentially at a significant CAGR during the forecast period. The major reason for the growth of this segment is the ever-growing population, rise in urbanization, rise in the construction of residential and commercial buildings, increase in the standard of living, and change in the lifestyle of people living in this region.
Besides, remarkable growth in the economy of developing countries in this region such as India and China, the growing trend of construction of smart cities and better roads and highways, and the significant rise in industrialization in this region further drive the growth of the market during the forecast period. Furthermore, an increase in initiatives and investments from both government and private sector companies in infrastructure development and providing construction energy efficiency further expand the growth of the market in the region.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In August 2020, Owens Corning, a dominant American manufacturer of fiberglass composites and related products and materials, announced the launch of its new range of extruded polystyrene (XPS) foam insulation products which is known as Foamular NGX. This innovative line of products is set to provide effective results as the blowing agent in the products is known to bring about a 90% depletion in global warming potential (GWP) without neglecting the performance of the product.
- In October 2021, Kingspan Ireland-based company announced the acquisition of Minnesota Diversified Products, the manufacturer of the DiversiFoam range of expanded polyisocyanurate (PIR) foam billets, and extruded polystyrene (XPS) foam and polystyrene (EPS). In August 2020, Owens Corning unveiled Foamular NGX, a new range of extruded polystyrene (XPS) foam insulation products.
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FREQUENTLY ASKED QUESTIONS
- What are extruded polystyrene insulation materials?
Extruded polystyrenes are thermoplastic polymers that are produced via extrusion. Owing to their closed cell structure, these polymers are very moisture resistant and have excellent insulating qualities. They also have excellent compressive strength, are simple to install & handle, and provide long-term thermal efficiency.
- Which key factors will influence extruded polystyrene insulation materials market growth over 2023-2030?
The need for green buildings is fueled by the increased impact of constructing buildings on the environment and human health. Green construction denotes the use of environmentally friendly and resource-efficient methods at every level of the construction process. Green construction is primarily concerned with boosting the building's energy efficiency and reducing waste linked with the use of materials, water, and energy.
- What will be the value of the extruded polystyrene insulation materials market during 2023-2030?
According to the Zion Market Research report, the global extruded polystyrene insulation materials market was worth about USD 6.12 billion in 2022 and is estimated to grow to about USD 8.22 billion by 2030.
- What will be the CAGR value of the terrazzo flooring market during 2023-2030?
The global extruded polystyrene insulation materials market is expected to grow at a rapid CAGR of 5.31% during the forecast period.
- Which region will contribute notably towards the extruded polystyrene insulation materials market value?
Asia Pacific region had the largest proportion of the global extruded polystyrene insulation material market. This is due to the support of private ownership of the real estate and an increase in house remodeling and construction, the demand for XPS insulation in Asia-Pacific has been steadily increasing.
- Which are the major players leveraging the extruded polystyrene insulation materials market growth?
Key players functioning in the global extruded polystyrene insulation material market include as Emirates Extruded Polystyrene LLC, BASF SE, Kingspan Group, Owens Corning, Jackon Insulation GmbH, Abrisonv, URSA Insulation SA, Ravago, SopremaInc., and Austrotherm. Other emerging players working in this market include Loyal Group, Penoplex SPB LLC, Knauf Insulation, Foamex Victoria Pty., Ltd., Xella International GmbH, Synthos S.A, Technonicol Corporation, and The Ravago Group.
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