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DUBLIN , Sept. 6, 2022 /PRNewswire/ -- The "Extruded Polystyrene Insulation Material Market By Application: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

The global extruded polystyrene (XPS) insulation materials 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. The growth of the global extruded polystyrene insulation materials market is driven by growth in demand from non-residential construction sector, rise in popularity of energy-efficient building systems, and advantages of XPS insulation materials over other reinforcement materials such as expanded polystyrene.

Extruded polystyrene (XPS), a foam product, is a homogenous polystyrene produced primarily with characteristic colors of blue, pink, and green. XPS begins as a molten material that is pressed out of form into sheets. XPS is most commonly used as foam board insulation. XPS is widely used for insulation purposes such as structural insulating panels and insulating concrete forms (ICFs). The insulation materials of XPS use primarily HCFCs.

These are 90% less harmful to the ozone layer than CFCs. The aforementioned advantages of XPS compel its use by manufacturers over other reinforcement materials. Increased globalization plays a vital role in restructuring the construction industry. A shift in the industry trends has been observed owing to rapid economic growth in India and China . As majority of the countries in Asia-Pacific being in the developing stage, the economic growth is set to foster the ongoing urbanization. Moreover, surge in working population in these countries is expected to boost the demand for non-residential infrastructure, which in turn is projected to drive the global extruded polystyrene market. However, environmental issues related to the use of global warming-causing toxic chemicals such as fluorochlorohydrocarbons and presence of high number of substitutes are expected to hinder the market growth during the forecast period. According to European Union's (EU) Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) program, hexabromocyclododecane (HBDC) present in polystyrene is listed as a chemical of high concern and recommends restricting its use as much as possible. Manufacturers are investing large capital to eliminate the use of these toxic chemicals and develop high-quality, energy-efficient XPS systems to lower the impact of restraining factors. Extruded polystyrene (XPS) is a polystyrene foam obtained by extrusion process, which forms a closely packed structure that leads to excellent moisture-resistant properties. XPS insulation materials are used in residential and non-residential applications owing to their superior strength, durability, and superior thermal performance.

Currently, the use on insulation has increased in the recent years owing to the design-oriented goals of sustainability and energy efficiency. Moreover, XPS insulation material offers great flexibility, compatibility, and thermal efficiency for use in all areas of a building envelope and offers high resistance to pressure & moisture, which is anticipated to offer new growth opportunities during the forecast period. Key Benefits For Stakeholders

Key Market Segments BY APPLICATION

Key Topics Covered: CHAPTER 1: INTRODUCTION CHAPTER 2: EXECUTIVE SUMMARY CHAPTER 3: MARKET OVERVIEW CHAPTER 4: EXTRUDED POLYSTYRENE (XPS) INSULATION MATERIAL MARKET, BY APPLICATION CHAPTER 5: EXTRUDED POLYSTYRENE (XPS) INSULATION MATERIAL MARKET, BY REGION CHAPTER 6: COMPANY LANDSCAPE CHAPTER 7: COMPANY PROFILES  Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/c2jbqp

Research and Markets Laura Wood , Senior Manager [email protected]

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