Pune, India, September 2019, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Extruded Polystyrene (XPS) Market.
The Global Extruded Polystyrene (XPS) Market is estimated to be valued at USD 7.9 Billion by 2030, registering a CAGR of 5.2%.
The growth of the global extruded polystyrene (XPS) market is driven by the growing construction industry.
Extruded polystyrene is used as thermal insulation in commercial and residential construction. It is commonly used in wall and roof applications. The global extruded polystyrene (XPS) market is expected to witness healthy growth mainly driven by the growing constructing industry along with the increasing focus on green buildings to reduce energy consumption, thereby reducing carbon footprint.
The global extruded polystyrene (XPS) market has been segmented based on end use and region. Based on end use, the global market has been divided into residential construction and commercial construction. The residential constriction segment held the dominant share in the market in 2018 and is projected to register 4.60% CAGR during the assessment period. The growth of the residential construction segment is driven by the high demand in residential construction activities in the US and European countries. However, the commercial construction segment is expected to witness higher CAGR of 5.2% owing to rapid industrialization and high investments in the development of special economic zones (SEZs).
The global extruded polystyrene (XPS) market, by region, has been segmented into North America, Europe, the Middle East & Africa, Asia-Pacific, and Latin America.
According to MRFR analysis, Asia-Pacific is the largest market for extruded polystyrene (XPS) market and is projected to create significant growth opportunity during the forecast period. China accounted for 53.6% share of the Asia-Pacific extruded polystyrene (XPS) market in 2018. China and India are expected to provide a new engine for the growth of the global market owing to increase in investments for infrastructure development and residential construction activities in the region. European market held second-largest market share in 2018, however is expected to witness moderate growth during the forecast period. The Middle East & Africa market is expected to be the fastest-growing market for extruded polystyrene (XPS) due to increasing construction activities in the region.
Market Research Future (MRFR) recognizes Kingspan Group (Ireland), BASF SE (Germany), EMIRATES EXTRUDED POLYSTYRENE L.L.C. (UAE), Owens Corning (US), JACKON Insulation GmbH (Germany), Ravago (Belgium), Abriso nv (Belgium), URSA Insulation, S.A. (Spain), Austrotherm (Austria), and Soprema Inc (France) as the Key Players operating in the global market.
Key Findings of the Study:
The Global Extruded Polystyrene (XPS) Market is projected to reach over USD 7.9 Billion by 2030 at a 5.2% CAGR during the review period of 2023 to 2030.
Asia-Pacific accounted for the dominant share of the global market. China, Japan, and India are the major contributor to the growth of the market.
The residential construction segment is projected to dominate the global market during the forecast period.
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