The report on the Extruded Polystyrene Market is segmented By Application Type (Foundation, Roof, Wall, Floor & Ceiling, and Others), by End-Use Industry Type (Residential, Commercial, and Others), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World), It also covers the COVID-19 Impact Analysis and Forecast to 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.

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.

Segment Analysis

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.

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.

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.

Critical Questions Answered in the Report

l  What are the key trends in the Extruded Polystyrene Market?

l  How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?

l  What is the impact of COVID-19 on Extruded Polystyrene Market?

l  What are the key strategies adopted by the major vendors to lead in the Extruded Polystyrene Market?

l  What is the market share of the top vendors?

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