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Extruded Polystyrene Market Research Report Information By Application (foundation, wall, roof, ceiling, floor, and others), by End-Use (Residential Construction and Commercial Construction), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032


ID: MRFR/CnM/6031-CR | 111 Pages | Author: Chitranshi Jaiswal| September 2019

Extruded Polystyrene Market Summary

As per Market Research Future Analysis, the Global Extruded Polystyrene Market was valued at USD 5.37 Billion in 2023 and is projected to reach USD 8.47 Billion by 2032, growing at a CAGR of 5.20% from 2024 to 2032. The demand for extruded polystyrene (XPS) is driven by its advanced properties such as moisture management, water resistance, and thermal efficiency, primarily used in building insulation. The market is significantly influenced by increasing construction activities worldwide, particularly in the residential sector, which accounted for 53.7% of the market share in 2018. Asia-Pacific is expected to be the largest and fastest-growing region due to substantial investments in infrastructure development.

Key Market Trends & Highlights

Key trends driving the Extruded Polystyrene Market include increased construction activities and a focus on sustainability.

  • Residential construction is growing faster than commercial, with a CAGR of 6.18% from 2019-2023.
  • Asia-Pacific is projected to be the largest market, driven by rapid urbanization and infrastructure investments.
  • The foundation segment is growing at the highest CAGR, enhancing energy efficiency and infrastructure strength.
  • The development of green buildings and recyclability of polystyrene products are key growth drivers.

Market Size & Forecast

2023 Market Size: USD 5.37 Billion
2024 Market Size: USD 5.64 Billion
2032 Market Size: USD 8.47 Billion
CAGR (2024-2032): 5.20%
Largest Regional Market: Asia-Pacific.

Major Players

Major players in the Extruded Polystyrene market include Kingspan Group (Ireland), BASF SE (Germany), Owens Corning (US), EMIRATES EXTRUDED POLYSTYRENE L.L.C (UAE), and others.

Extruded Polystyrene Market Overview

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Extruded Polystyrene Market Trends

    • The use of XPS in commercial and residential construction activities is boosted market growth.

Increasing the extruded polystyrene in commercial and residential constructions worldwide for insulation and reducing greenhouse gas emissions in the developed regions are the major key drivers of the growth of the Extruded Polystyrene Market. Of its excellent flexibility, compatibility, thermal efficiency, high strength, and lightweight, there is a demand for extruded polystyrene market forecast. In the construction sector, floorings and ceilings account for the largest market share for extruded polystyrene applications. In addition to that, EPS roofing insulation is used in roofing systems. 

Additionally, The development of green buildings coupled with the recyclability of polystyrene products provides the largest growth for the extruded polystyrene market. The advanced technology and formless use of toxic chemicals to keep the environment safe are leading to the expansion of the growth of extruded polystyrene market analysis.

Extruded Polystyrene Market Segment Insights

Extruded Polystyrene Application Insights

The Extruded Polystyrene Market segmentation, based on Application, includes foundation, wall, roof, ceiling, floor, and others. Amongst these, the foundation segment is growing at the very best CAGR. The extruded polystyrene saves energy used for heating or cooling. Apart, it also strengthens the general infrastructure due to its high compressive strength and moisture resistance. 

Extruded Polystyrene End-user Insights

Based on end-user, the Extruded Polystyrene Market segmentation includes residential construction and commercial construction. Residential end-use grows faster than commercial for its demand in developed and further in developing countries. As a result in the forecast period, the residential segment accounts for the largest share in terms of volume and import. In 2018, it dominated the world XPS market with a 53.7% share. Whereas, the commercial segment exhibits a CAGR of 6.18% from 2019-2023. It is segmented into industrialization and hefty investments in the creation of special economic zones.

Figure 2: Extruded Polystyrene Market, by End-user, 2023 & 2030 (USD Billion)            Extruded Polystyrene Market, by End-user Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review 

Extruded Polystyrene Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period. Increasing government and private sector investments in infrastructure development are likely to boost the construction market in countries such as India and China, creating lucrative growth opportunities. The growth of the market is also fueled by rapid urbanization in the Asia-Pacific region.

Figure 3: EXTRUDED POLYSTYRENE MARKET SHARE BY REGION 2023 (%)     EXTRUDED POLYSTYRENE MARKET SHARE BY REGIONSource: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Extruded Polystyrene Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Extruded Polystyrene market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Extruded Polystyrene industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Extruded Polystyrene. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Extruded Polystyrene industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Extruded Polystyrene industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Extruded Polystyrene market players, including Kingspan Group (Ireland), BASF SE (Germany), Owens Corning (US), EMIRATES EXTRUDED POLYSTYRENE L.L.C (UAE), and others, are attempting to increase market demand by funding R&D initiatives.

Kingspan Group is a company that specializes in insulation and building envelope solutions for the construction market. It operates through five divisions: Insulated Panels, Insulation, Data and Flooring, Water and Energy, and Light and Air. The Insulated Panels division provides insulated panels, structural framing, and metal facades.

Also, BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions.

Key Companies in the Extruded Polystyrene market include

    • Kingspan Group (Ireland)
    • BASF SE (Germany)
    • Owens Corning (US)
    • Abriso NV (Belgium)
    • Ravago (Belgium)
    • JACKON Insulation GmbH (Germany)
    • Austrotherm (Austria) and
    • URSA Insulation, S.A (Spain)

Extruded Polystyrene Market Developments

  • Q1 2024: Owens Corning Announces Opening of New Extruded Polystyrene Insulation Facility in Joplin, Missouri Owens Corning inaugurated a new manufacturing facility dedicated to extruded polystyrene (XPS) insulation in Joplin, Missouri, aiming to expand its production capacity and meet growing demand in the North American construction sector.
  • Q2 2024: Saint-Gobain Launches Next-Generation XPS Insulation Board with Enhanced Fire Resistance Saint-Gobain introduced a new line of extruded polystyrene insulation boards featuring improved fire-retardant properties, targeting stricter building codes and sustainability requirements in Europe.
  • Q2 2024: BASF Expands XPS Production Capacity at Ludwigshafen Site BASF announced the completion of an expansion project at its Ludwigshafen site, increasing its annual extruded polystyrene output to support rising demand in the European construction and cold chain logistics markets.
  • Q3 2024: DuPont Unveils New XPS Insulation Product for Cold Storage Applications DuPont launched a specialized extruded polystyrene insulation product designed for use in cold storage and refrigerated warehouse facilities, addressing the growing need for energy-efficient temperature control.
  • Q3 2024: Owens Corning Appoints New Vice President for Insulation Business Owens Corning announced the appointment of a new Vice President to lead its insulation business, including the extruded polystyrene segment, as part of its strategy to drive innovation and market growth.
  • Q4 2024: Saint-Gobain Acquires Minority Stake in XPS Recycling Startup Saint-Gobain acquired a minority stake in a European startup specializing in recycling extruded polystyrene waste, aiming to advance circular economy initiatives and sustainable insulation solutions.
  • Q4 2024: Owens Corning Signs Major Supply Contract for XPS Insulation with Leading U.S. Homebuilder Owens Corning secured a multi-year supply agreement to provide extruded polystyrene insulation products to one of the largest homebuilders in the United States, strengthening its position in the residential construction market.
  • Q1 2025: BASF Receives Regulatory Approval for New XPS Insulation Formulation in Germany BASF obtained regulatory approval for a new, environmentally friendly extruded polystyrene insulation formulation, enabling broader market access in Germany and compliance with updated environmental standards.
  • Q1 2025: Saint-Gobain Opens New XPS Insulation Plant in Poland Saint-Gobain inaugurated a new manufacturing facility in Poland dedicated to the production of extruded polystyrene insulation, expanding its footprint in Central and Eastern Europe.
  • Q2 2025: Owens Corning Launches High-Performance XPS Board for Commercial Roofing Owens Corning introduced a new high-performance extruded polystyrene insulation board specifically engineered for commercial roofing applications, offering enhanced durability and thermal efficiency.
  • Q2 2025: DuPont Partners with Logistics Firm to Supply XPS Insulation for Cold Chain Expansion DuPont entered into a partnership with a major logistics company to supply extruded polystyrene insulation for the expansion of cold chain infrastructure across North America.
  • Q3 2025: Saint-Gobain Announces Executive Leadership Change in Insulation Division Saint-Gobain announced a new executive appointment to lead its insulation division, including the extruded polystyrene business, as part of its ongoing organizational restructuring.

Extruded Polystyrene Market Segmentation

Extruded Polystyrene Application Outlook

    • Foundation
    • Wall
    • Roof
    • Ceiling
    • Floor
    •  

Extruded Polystyrene End-user Outlook

    • Residential construction
    • Commercial Construction

Extruded Polystyrene Regional Outlook

    • North America

      • US
      • Canada
    • Europe

      • Germany
      • France
      • UK
      • Italy
      • Spain
      • Rest of Europe
    • Asia-Pacific

      • China
      • Japan
      • India
      • Australia
      • South Korea
      • Australia
      • Rest of Asia-Pacific
    • Rest of the World

      • Middle East

      • Africa

      • Latin America

Report Attribute/Metric Details
Market Size 2023 USD  5.37 Billion
Market Size 2024 USD 5.64 Billion
Market Size 2032 USD 8.47 Billion
Compound Annual Growth Rate (CAGR) 5.20% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Application, End-user, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled 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)
Key Market Opportunities Fluctuating raw material cost. The increasing popularity of Green Buildings.
Key Market Dynamics Use of XPS in commercial and residential construction activities.


Frequently Asked Questions (FAQ):

The Extruded Polystyrene Market size was valued at USD 5.37 Billion in 2023.

The global market is projected to grow at a CAGR of 5.20% during the forecast period, 2024-2032.

Asia Pacific had the largest share of the Extruded Polystyrene Market.

The key players in the market are 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)

The foundation categories dominated the market in 2023.

The residential had the largest share in the global market for Extruded Polystyrene.

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