Int'l : +1-503-894-6022 | Toll Free : +1-800-792-5285 | help@alliedmarketresearch.com
A01751 | Pages: 250 | Charts: 55 | Tables: 84 |
The global extruded polystyrene (xps) insulation material market was valued at $4.8 billion in 2020, and is projected to reach $7.9 billion by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
Polystyrene is a synthetic aromatic polymer that is manufactured from petroleum product derived monomer styrene. Extruded polystyrene (XPS) is a polystyrene foam that has closed cell structure obtained through extrusion process. XPS is the most efficient thermal insulation material that is used widely during construction of basements, pipelines, and floor. XPS systems use air as an insulating material and form a closely packed structure, which exhibits excellent moisture-resistant properties. The manufacturing process of XPS includes melting of polystyrene, which is then fed into an extruder along with special additives & blowing agents.
Proper thermal regulation is utmost important during construction of basements, loaded roof structures, and transport facility foundations. In addition, thermal regulation plays vital role for maintaining structural integrity of building materials and constructed buildings. Multitude benefits such as compressive strength and flexibility of XPS makes it widely incorporated insulation material during different construction projects including floors, facades, plinth beams, and operated roofs, which are anticipated to drive the demand of the global extruded polystyrene insulation materials market. Maximum compressive strength is important factor considered during construction of railroads and roadways. High compressive strength of extruded polystyrene insulation materials makes it viable to be used during construction of railways and roadway construction projects, a considerable factor that is anticipated to escalate the demand of the global market.
However, poor sound insulation and UV sensitivity nature of expanded polystyrene insulation materials hamper the market growth. Moreover, expanded polystyrene blocks (type of XPS insulation materials) are manufactured with use of thermoplastic resins (plastic compounds). The plastic compound present in the XPS insulation takes longer period to decompose in contrast with other non-synthetic materials that in turn leads to degradation of environmental conditions thus making it less environment friendly product.
On the contrary, advantages such as uniform and miniature closed cells of extruded polystyrene make it widely adopted insulation material as compared to expanded polystyrene insulation materials, which is anticipated to offer new growth opportunities. In addition, minimal water absorption and high bending strength of XPS insulation materials makes it viable to be used for terrace, foundations, and roadway construction projects. High thermal insulation can be created with minimal use of extruded polystyrene insulation, which in turn allows construction contractors to reduce the cost of insulation materials used during construction projects. All these factors are expected to offer lucrative growth opportunities for the global extruded polystyrene insulation materials market.
The extruded polystyrene (XPS) insulation materials market analysis is done on the basis of application and region. The applications covered in the report include residential construction and non-residential construction. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include BASF SE, Kingspan Group, Owens Corning, Emirates Extruded Polystyrene LLC, Jackon Insulation GmbH, Abrisonv, Ravago, SopremaInc., URSA Insulation SA and Austrotherm.
[REGIONGRAPH]
Source: AMR Analysis
The Europe extruded polystyrene (XPS) insulation materials market size is projected to grow at the highest CAGR of 5.2% during the forecast period and accounted for 5% of extruded polystyrene (XPS) insulation materials market share in 2020. Insulation is an essential attribute for sustainable building products, which functions properly over its useful life without physical property performance degradation. Moreover, there is an increase in requirement for good long-term insulation performance to correctly design a building’s heating and air conditioning system. The demand for XPS insulation is on a continuous rise in Europe, owing to the encouragement of private ownership of real estate and rise in home renovation & construction. The market is further driven by population & economic growth, surge in building floor space, and growth in service demands.
[BYAPPLICATIONGRAPH]
Source: AMR Analysis
In 2020, the non-residential application was the largest revenue generator, and is anticipated to grow at a CAGR of 4.8% during the forecast period. Increased use of extruded polystyrene (XPS) foam insulating material has led to profound effects on reducing consumption of natural resources such as coal, gas, and oil. It provides superior moisture resistance, thermal performance, and compressive strength. Extruded polystyrene (XPS) is extensively adopted in non-residential construction owing to its high compressive strength and low water absorption. It is commonly used in wall and roof applications in industrial and commercial construction applications.
IMPACT OF COVID-19 ON GLOBAL EXTRUDED POLYSTYRENE (XPS) INSULATION MATERIALSMARKET
[COVIDIMPACTSTATEMENT]
Get more information on this report : Request Sample Pages
Key Market Segments
Key Market Players