The global extruded polystyrene market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Key drivers responsible for the market growth include demand for energy-efficient buildings, rise in government infrastructure projects, expanding construction industry, distinct properties of XPS over traditional insulation materials and adoption of green building systems. However, factors such as presence of toxic chemicals in polystyrene are limiting the market growth. In addition, robust investments in R&D provides growth opportunity for the market.
Global extruded polystyrene market segmented on the basis of application and region.
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Residential Construction Dominate the Global Extruded Polystyrene Market
Based on application, global extruded polystyrene market segmented into non-residential construction and residential construction. Residential Construction held considerable market share during predicted period. With today’s design-oriented goals of sustainability and energy efficiency, the proper use of insulation is becoming more important than ever. Extruded polystyrene are used as an insulation for roof, cavity wall, floor, and perimeter insulation. XPS can also be used as wall cladding insulation & void filling. Extruded polystyrene rigid foam with special skin is manufactured by a continuous extrusion process which imparts a characteristic of closed cell structure giving the product its unique physical properties. Extruded polystyrene rigid have high resistance to water absorption, good physical and thermal properties. It is available with shiplap joints, tongue & groove edges depending on the application.
Asia Pacific Leads the Global Extruded Polystyrene market
PBI’s global extruded polystyrene market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global extruded polystyrene market with considerable CAGR. The growth is due to adoption of green building systems, encouraging investments in the commercial construction activities and demand for energy-efficient buildings. Presence of major market players in the region is other factor responsible for market growth.
Strategic Expansions are the key strategies adopted by market players
Global Extruded Polystyrene market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in Sept 2017, Kingspan Insulation expanded its business by opening a new extruded polystyrene plant in the US on account of the growing trend i.e., green buildings.
Key player’s profiles in the report are Abriso nv (Belgium), ACH Foam TechnologiesInc. (US), Austrotherm (Germany), BASF SE (Germany), DowDupont (US), EMIRATES EXTRUDED POLYSTYRENE L.L.C. (Dubai), Kingspan Group (Ireland), Owens Corning (US), Ravago S.A. (Ravatherm) (Luxemburg), Soprema (France) and URSA InsulationS.A (Belgium).
Precision Business Insights (PBI) in its report titled “Global Extruded Polystyrene Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Non-Residential Construction
o Residential Construction
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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