DUBLIN, March 1, 2024 /PRNewswire/ — The ‘Global Extruded Polystyrene Market by Application (Foundation, Roof, Wall, Floor & Ceiling), End-use Industry (Residential, Commercial), and Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Forecast to 2028’ report has been added to ResearchAndMarkets.com’s offering.
The extruded polystyrene market is poised for significant growth, with a projected value of USD 6.9 billion by 2028, exhibiting a robust CAGR of 4.3% from its 2023 value of USD 5.6 billion. The extruded polystyrene market is witnessing substantial growth, primarily driven by two key factors. One of the main factors is its exceptional thermal insulation capabilities in the construction industry. International initiatives aim to lower building energy consumption, and the extruded polystyrene satisfies strict energy norms and requirements, improving building efficiency. Second, extruded polystyrene exhibits properties such as high compressive strength and moisture resistance, making it a durable material suitable for various applications. These combined forces are propelling the demand for extruded polystyrene in various end-use industries such as residential, commercial, and others.
Foundation segment was the largest application of extruded polystyrene in 2022, in terms of value
The foundation segment is the largest application in the extruded polystyrene market due to its versatile properties. Extruded polystyrene plays a critical role in providing thermal insulation and moisture resistance beneath building foundations. Extruded polystyrene insulation boards are placed below the concrete slab of a building, helping to reduce heat loss, prevent moisture intrusion, and enhance the structural stability of the foundation. This segment’s significance is attributed to the ongoing emphasis on energy-efficient construction practices and the need to comply with building codes, where extruded polystyrene plays a vital role in ensuring improved energy performance and durability of buildings. It is widely used in various end-use industries, including residential, commercial, and others, making it the preferred choice for manufacturers and the construction industry seeking a balance between quality and sustainability.
Residential segment is estimated to be the largest end-use industry of extruded polystyrene market in 2022, in terms of value
The residential segment dominates the extruded polystyrene market due to many vital factors. The residential segment was indeed one of the largest end-use industries for extruded polystyrene due to its extensive applications in residential construction. Extruded polystyrene insulation finds wide use in residential buildings for insulating walls, floors, roofs, and basements. This is a favorably chosen material that contributes to energy efficiency, comfortable indoor conditions, and adherence to building codes because of its outstanding thermal insulating qualities, moisture resistance, and structural support. Extruded polystyrene is also becoming increasingly popular in the residential industry because of changing industry standards and regulatory pressure.
Europe is estimated to be the largest extruded polystyrene market in 2022, in terms of value
Europe held a dominant position in the extruded polystyrene market in 2022, owing to the presence of significant players such as Kingspan Group PLC, BASF SE, Synthos S.A., Ravago S.A., Saint-Gobain, who have strengthened the region’s standing in this industry. Europe has a significant market for extruded polystyrene, primarily due to stringent building regulations emphasizing energy efficiency and insulation standards in construction practices across the region. These regulations have driven the widespread adoption of extruded polystyrene in various construction applications, including residential, commercial, and other projects.
The report provides insights on the following:
Analysis of key drivers (Growing construction industries in developing nations, Increasing focus on sustainability and green building, Expanding applications in infrastructure projects, Advancement in manufacturing technologies), restraints (Environmental concerns and regulatory pressures, Availability of high-performance substitute), opportunities (Easy recyclability of polystyrene products, Consumer preference for longevity), and challenges (Fluctuation in raw material cost and supply)
Market Penetration: Comprehensive information on extruded polystyrene offered by top players in the global extruded polystyrene market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the extruded polystyrene market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for extruded polystyrene across regions.
Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global extruded polystyrene market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the extruded polystyrene market
Impact of recession on the extruded polystyrene market
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
Figure 10 Foundation Was Largest Application of Extruded Polystyrene Market in 2022
Figure 11 Residential to be Largest End-use Industry of Extruded Polystyrene During Forecast Period
Figure 12 Europe Accounted for Largest Share of Extruded Polystyrene Market in 2022
4 Premium Insights
4.1 Attractive Opportunities for Players in Extruded Polystyrene Market – Europe to be Largest Market for Extruded Polystyrene
4.2 Extruded Polystyrene Market, by Region – Asia-Pacific to Record Highest CAGR During Forecast Period
4.3 Europe: Extruded Polystyrene Market, by Country and Application – Foundation and Germany Accounted for Largest Shares of Europe Extruded Polystyrene Market in 2022
4.4 Extruded Polystyrene Market, by End-use Industry and Region – Residential Segment Led Extruded Polystyrene Market in 2022
4.5 Extruded Polystyrene Market, by Key Countries – Malaysia to Register Highest CAGR During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Construction Industries in Developing Nations
5.2.1.2 Increasing Focus on Sustainability and Green Building
5.2.1.3 Expanding Applications in Infrastructure Projects
5.2.1.4 Advancements in Manufacturing Technologies
5.2.2 Restraints
5.2.2.1 Environmental Concerns and Regulatory Pressures
5.2.2.2 Availability of High-Performance Substitute
5.2.3 Opportunities
5.2.3.1 Easy Recyclability of Polystyrene Products
5.2.3.2 Consumer Preference for Longevity
5.2.4 Challenges
5.2.4.1 Fluctuations in Raw Material Cost and Supply
5.3 Porter’s Five Forces Analysis
5.4 Macroeconomic Indicators
6 Industry Trends
6.1 Supply Chain Analysis
6.2 Key Stakeholders and Buying Criteria
6.3 Pricing Analysis
6.4 Trends/Disruptions Impacting Customer’s Business
6.5 Extruded Polystyrene Market: Ecosystem
6.6 Technology Analysis
6.7 Case Study Analysis
6.7.1 Case Study of Saint-Gobain
6.7.2 Case Study of Dow Inc.
6.7.3 Case Study of BASF SE
6.8 Trade Data Statistics
6.9 Tariff and Regulatory Landscape
6.10 Key Conferences and Events in 2023-2024
6.11 Patent Analysis
7 Extruded Polystyrene Market, by Application
8 Extruded Polystyrene Market, by End-use Industry
9 Extruded Polystyrene Market, by Region
10 Competitive Landscape
10.1 Introduction
10.2 Key Players’ Strategies
10.3 Ranking of Key Market Players, 2022
10.4 Market Share Analysis
10.5 Revenue Analysis of Key Market Players, 2018-2022
10.6 Company Evaluation Matrix (Tier 1)
10.7 Startup/SME Evaluation Matrix
10.8 Competitive Scenarios & Trends
11 Company Profiles
Synthos SA
BASF SE
Ravago SA
Saint-Gobain
Dupont De Nemours, Inc.
Owens Corning
Dow Inc.
Kingspan Group PLC
Kaneka Corporation
Supreme Petrochem Ltd.
Verdane
Brodr. Sunde A/S
Loyal Group
Finnfoam Oy
Technonicol Corporation
Austrotherm GmbH
Ursa Dammsysteme Austria GmbH
Penoplex Spb LLC
Hangzhou Tyco Industrial Co. Ltd.
Jackon Insulation GmbH
Soprema Group
Abriso-Jiffy Nv
Emirates Extruded Polystyrene L.L.C.
Ohana Industries LLC
Isofoam
For more information about this report visit https://www.researchandmarkets.com/r/s83gpg
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