The global extruded polystyrene market size is projected to grow at a CAGR of 4.0%
NEW YORK, Dec. 19, 2019 /PRNewswire/ --
The global extruded polystyrene market size is projected to grow at a CAGR of 4.0% between 2019 and 2024, in terms of value.
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The global XPS market size is projected to grow from USD 5.5 billion in 2019 to USD 6.7 billion by 2024, at a CAGR of 4.0% during the same period. The increasing infrastructure spending in line with numerous government initiatives across the world and the additional insulating properties of XPS are expected to drive the market growth. Availability of alternatives and strict government policies regarding flame retardant additives used in XPS are restraining the growth of the XPS industry.
Based on application, the foundation segment is expected to lead the XPS industry during the forecast period.
The foundation segment accounted for the majority of the XPS market share in 2018, and the trend is expected to continue during the forecast period.Increasing construction activities are expected to play a vital role in driving the growth of the segment.
Insulating the entire house is very critical in order to save energy losses that can occur through basement or foundation.Energy loss through basement or foundation is calculated at one-third of the total energy lost through the infrastructure.
Exterior basement or foundation insulation is performed underground to achieve best results. High compressive strength and moisture resistance properties of XPS makes it an ideal choice for basement and foundation insulation.
The residential segment is expected to grow at a higher CAGR than commercial end use during the forecast period.
When insulating buildings, floor space is considered to be the most important as a major portion of energy is lost through floors.Thus, effective insulation of floor space is considered very important while building construction.
Moreover, energy losses in residential buildings are usually higher than in commercial buildings; thus, residential buildings are more insulated to conserve energy. Hence, the residential segment is expected to drive the demand for XPS in the future.
Europe is expected to lead the XPS industry during the forecast period.
The European region is projected to lead the extruded polystyrene market from 2019 to 2024, in terms of value.The region has emerged as one of the leading producers as well as consumers of XPS due to the huge demand for insulation materials in building and construction.
The flourishing building & construction industry in the region and EU energy conservation goals are a few major factors that are driving the XPS industry in Europe. The market in Europe is heavily regulated and closely monitored to ensure a high level of protection for the environment and human health from the risks posed by chemicals that are added in the insulation products.
Breakup of Primary Interviews:
• By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
• By Designation: C-Level Executives – 27%, Directors – 33%, and Others – 40%
• By Region: Europe – 40%, North America – 35%, APAC – 17%, the Middle East & Africa – 5%, and South America – 2%
BASF SE (Germany), Synthos S.A. (Poland), DuPont de Nemours Inc. (US), Saint-Gobain Isover SA (France), Knauf Group (Insulation) (Germany), Owens Corning Inc. (US), TechnoNicol Corporation (Russia), Austrotherm GmbH (Austria), Ursa Insulation SA (Spain), Penoplex SPB LLC (Russia), Ravago Group (Luxembourg), Loyal Group (China), are the key players operating in the XPS market.
Research Coverage
This report provides a detailed segmentation of the XPS industry on the basis of application, end use, and region.Based on application, the XPS market has been segmented into foundation, roof, wall, floor & ceiling, and others.
Based on end use, the XPS industry has been segmented into residential, commercial, and others. Based on region, the XPS market has been segmented into APAC, the Middle East & Africa, Europe, North America, and South America.
Reasons to Buy the Report
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), key players in the XPS market, and company profiles. These insights together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the XPS market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights into the following pointers:
• Market Penetration: Comprehensive information on XPS offered by top players in the XPS industry
• Product Development/Innovations: Detailed insights on upcoming technologies, research & development activities, and new product launches in the XPS market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for XPS across various regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the XPS industry
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the XPS market
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