Extruded Polystyrene Insulation Materials Market Analysis | Top Companies | Scope |Demand | Opportunity Till 2031

Extruded Polystyrene Insulation Material Market -An Overview

The global extruded polystyrene (XPS) insulation material market is expected to witness strong growth during the forecast period between 2021 and 2031.

XPS is a polystyrene foam acquired from the extrusion process. The XPS production process involves the melting of polystyrene that is then added to an extruder, along with blowing agents and other additives.

XPS has emerged as one of the most suitable thermal insulation materials which has been extensively deployed in the construction of different structures such as floor, basements, and pipelines.

Some of product features that make XPS insulation material suitable for construction activities include compression strength and flexibility. The high compression strength aspect of XPS has also made the product an important part in the construction of railways and roadways, which has helped in the growth of the overall XPS insulation material market.

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The outbreak of the COVID-19 pandemic negatively impacted the growth in the overall XPS insulation material market. With rising cases globally, governments were forced to impose lockdowns and social distancing regulations in a bid to contain the spread of the virus.

This led to a reduced demand for XPS insulation materials and led to lowered revenue-generating opportunities for the overall market.

Extruded Polystyrene Insulation Material Market - Trends and Opportunities

Rising infrastructural development such as highways, airports, and rail networks is the key growth driver for the global XPS insulation material market.

Also, growing demand for insulation against extreme weather conditions from residential sector could fuel the growth in the overall XPS insulation material market, in the coming years.

In addition to this, increasing demand for energy-efficient buildings in leading economies could also create substantial revenue-generating opportunities for XPS insulation material market players, in the years ahead.

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Non-residential application segment is expected to make the largest contribution, in terms of revenue, to the overall market because of increasing product demand for non-residential construction activities, leading to reduced consumption on other resources such as coal, oil, and gas.

Extruded Polystyrene Insulation Material Market - Competitive Landscape

The global XPS insulation material market has witnessed intense competition, with the presence of several well-established players. Many of these players are expected to account for a large share in the overall market, in future.

Growth strategies such as novel product launches could help prominent XPS insulation material market players gain a competitive edge over other players.

Leading market player Austrotherm, in August 2021, announced the launch of an XPS insulation cut-off collection service, with the capability to collect waste XPS insulation from buildings for recycling in production at Austrotherm's Purbach XPS insulation plant.

Well-established XPS insulation material market players could collaborate with smaller players in a bid to expand their market presence and increase their revenue shares.

The smaller players will seek funding from private investors, which could help them in their long-term growth.

Some of the leading players in the global XPS insulation material market include Austrotherm BASF SE, Jackson Insulation GmbH, Owens Corning, Kingspan Group, and Emirates Extruded Polystyrene LLC.

Extruded Polystyrene Insulation Material Market - Regional Assessment

Europe is expected to offer maximum revenue generating opportunities for the global XPS insulation material market because of increasing demand for the development of sustainable building products in a bid to ensure its utility is maintained for long periods in countries such as Germany and Italy.

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Asia Pacific is expected to witness significant growth in the global XPS insulation material market because of rising product demand from the construction industry in countries such as India, contributing to market growth in the region.

North America is expected to witness moderate growth in the global XPS insulation material market, in the coming years.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness sluggish growth in the overall market, in the years ahead owing to lack of presence of well-established market players in countries belonging to both the regions.

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