The global market for extruded polystyrene insulating materials was valued at approximately USD 6.12 billion in 2022 and is expected to grow to nearly USD 8.22 billion by 2030, at a compound annual growth rate (CAGR) of approximately 5.31% during the forecast period.
The study investigates market drivers, restraints/challenges, and the impact they have on demand for extruded polystyrene insulating materials during the forecast period. In addition, the paper investigates new market opportunities for extruded polystyrene insulating materials.
Extruded Polystyrene Insulation Materials Market: Overview
Extruded polystyrenes are thermoplastic polymers that are extruded. These polymers are extremely moisture resistant and have good insulating properties due to their closed-cell structure. They also have a high compressive strength, are easy to install and maintain, and have a long thermal efficiency lifespan. They are suitable for use both inside and outside rail beds, cold storage facilities, transmission line power foundations, walkaways, beneath concrete floors, underground utility lines, parking decks, fountain foundations, and other load-bearing applications.
Extruded Polystyrene Insulation Materials Market: Growth Drivers
Green construction is the use of environmentally friendly and resource-efficient methods throughout the building process. Green construction is primarily concerned with increasing building energy efficiency and reducing waste associated with the use of materials, water, and energy.
Extruded insulation materials are an important component of green building because they help to reduce the structure’s energy consumption. Lowering energy costs and greenhouse gas emissions benefits both the environment and the immediate owner. It is also less harmful to the ozone layer.
Extruded polystyrene (XPS) is a homogeneous polystyrene that comes in a variety of colours including green, blue, and pink. XPS begins as a molten liquid that is moulded into sheets. It is most commonly used to insulate foam boards, but it is also used to insulate structural insulating panels and concrete forms (ICFs). HCFCs are common in XPS Insulation Materials.
Extruded Polystyrene Insulation Materials Market: Segmentation
The global market for extruded polystyrene insulating materials is segmented by application and geography.
The market is divided into two application segments: residential construction and non-residential building. The non-residential construction category had the majority of the market share in 2022. Extruded polystyrene is widely utilized in non-residential construction due to its high compressive strength and low water absorption. It is widely used in roof and wall applications in commercial and industrial construction.
Extruded Polystyrene Insulation Materials Market: Competitive Landscape
Key players functioning in the global extruded polystyrene insulation material market include:
Emirates Extruded Polystyrene LLC
Jackon Insulation GmbH
URSA Insulation SA
Penoplex SPB LLC
Foamex Victoria Pty. Ltd.
Xella International GmbH
The Ravago Group.
Global extruded polystyrene insulation materials market is segmented as follows:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Zion Market Research
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