The Extruded Polystyrene Market Size was valued at USD 5.1 Billion in 2022. The Extruded Polystyrene industry is projected to grow from USD 5.67 Billion in 2023 to USD 7.9 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period (2023 - 2030). Extruded polystyrene (XPS) foam provides advanced properties like assisting in moisture management and resists both water absorption and freeze/thaw cycles. Primarily, it is used for improving the insulation of buildings, roofs, and concrete floors. It is used in the building and construction sector for its thermal efficiency, durability, lightweight, shock absorption, moisture resistance, usability, and more properties. So, the demand for XPS increases by increasing construction activities in the world.     
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.Â
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.
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.Â
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)Â Â Â Â Â Â Â 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst ReviewÂ
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 (%)Â Â Â 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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.
June 2021, SUEZ Group and Airex Energy have signed a partnership to scale up the manufacturing of converting biomass remainders into biochar that can be used in a range of applications in the construction industry. The collaboration that has been in process for over six months is just the start, as said by the vice president of business development with Airex Energy. The company is located in Becancour, Que. The concept is to build biochar production plants, and the group is now searching for sites and finetuning the technology to be able to manufacture biochar on a greater scale. Biochar is being utilized in a range of industry sectors to decrease the carbon footprint as well as CO2 emissions from the atmosphere. One of the advantages of biochar is it eliminates carbon from the atmosphere and confiscates it in soils for hundreds of years.
September 2021, DuPont announced it is even more urgent that industry, policymakers, and architects work together to restrict the impact of global warming and decrease embodied carbon. The announcement came with United Nations' Intergovernmental Panel on Climate Change (IPCC) 's latest landmark climate report release. Confirming its assurance of transparency, DuPont Performance Building Solutions has released an Environmental Product Declaration (EPD) for its latest Styrofoam™ Brand ST-100 Series extruded polystyrene insulation (XPS). The new EPD ensures DuPont's practice of publishing third-party-verified EPDs for Styrofoam Brand products sold in North America, counting its abridged and low global warming potential (GWP) products launched in 2021, to aid architects and builders navigate the path to AIA2030 and address the climate crisis.
Extruded Polystyrene Application Outlook
Extruded Polystyrene End-user Outlook
Extruded Polystyrene Regional Outlook
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD Â 5.1 Billion |
| Market Size 2023 | USD 5.67 Billion |
| Market Size 2030 | USD 7.9 Billion |
| Compound Annual Growth Rate (CAGR) | 5.2% (2023-2030) |
| Base Year | 2023 |
| Market Forecast Period | 2023-2030 |
| 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. |
Extruded Polystyrene Market Highlights:
Frequently Asked Questions (FAQ) :
The Extruded Polystyrene Market size was valued at USD 5.1 Billion in 2022.
The global market is projected to grow at a CAGR of 5.2% during the forecast period, 2023-2030.
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.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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