Extruded Polystyrene Market Growth & Forecast Analysis | 2022-2028

Market Insights

The extruded polystyrene market was estimated at USD 5.9 billion in 2021 and is likely to grow at a CAGR of 4.01% during 2022-2028 to reach USD 7.79 billion in 2028.

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Major factors contributing to the growth of the market are increasing construction activities around the globe and the use of extruded polystyrene (XPS) in emerging countries.

What is extruded polystyrene?

Extruded polystyrene or XPS, majorly used as a thermal insulator is a rigid foam manufactured from polystyrene extrusions, in the presence of foaming gas. Produced on extruding machines, this hard foam is a closed-cell foam material that offers distinguished properties aiding in moisture management and resisting both water absorption and freeze cycles.

Extruded polystyrene is used in various applications such as foundations, walls, roofs, and floor & ceiling for various end-use industries, such as residential and commercial. Increasing demand for construction activities due to growth in the residential and commercial infrastructure is likely to be the prime factor augmenting the growth of the market.

Segments Analysis

By Application Type

Based on the application type, the market is segmented as a foundation, wall, roof, floor & ceiling, and others. In terms of value, the foundation is estimated to be the largest as well as the fastest-growing segment of the market. The energy lost through parts of a building such as walls or roofs accounts for a lower percentage as compared to the energy lost through the building’s foundation. As a result, the foundation requires heavy insulation for the prevention of energy losses and penetration of moisture into the foundation. Along with saving energy used for heating/cooling, XPS also strengthens the overall infrastructure because of its favorable properties such as high compressive strength and moisture resistance.

By End-Use Industry Type

Based on the end-use industry type, the market is segmented as residential, commercial, and others. The residential segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. An increase in demand for residential infrastructure development in emerging countries, as XPS principally improves the insulation of buildings, is driving the growth of this segment.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period. Increasing government and private sector investments in infrastructure development are likely to boost the construction market in countries such as India and China, creating lucrative growth opportunities. The growth of the market is also fueled by rapid urbanization in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Scope & Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Application Type

• Foundation
• Wall
• Roof
• Floor & Ceiling
• Others

By End-Use Industry Type

• Residential
• Commercial
• Other

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the major extruded polystyrene manufacturers are-

• BASF SE
• Synthos S.A.
• DuPont de Nemours Inc.
• Saint-Gobain Isover SA
• Knauf Gips KG
• Owens Corning Inc.
• TechnoNicol Corporation
• Austrotherm GmbH
• Ursa Insulation SA
• Penoplex SPB LLC
• Ravago Group
• Loyal Group.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types and by end-use industry type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.