High adoption of green building and energy-efficient construction systems and R&D efforts for developing less toxic XPS systems are projected to create lucrative opportunities for market growth.
Portland, OR -- (SBWIRE) -- 12/11/2017 -- Extruded polyesters (XPS) are closed cell, rigid insulation systems that are manufactured using an extrusion process. Plastic resin and other ingredients are liquefied and then extruded through a die, forming a closed-cell structure. XPS utilize air as an insulating medium and are preferred over expanded polyester (EPS) due to high moisture resistance, low thermal conductivity, and high compressive strength.
The global Extruded Polystyrene Insulation Materials Market was valued at $2,418 million in 2016 and is projected to reach $3,827 million by 2023, growing at a CAGR of 6.5% from 2017 to 2023. The non-residential construction segment is projected to grow at the highest CAGR throughout the forecast period.
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The global extruded polystyrene insulation materials market is driven by the growth in demand for energy-efficient buildings from the non-residential and residential segments of the construction industry, and rise in government infrastructure projects. However, certain environmental issues related to the use of global warming-causing toxic chemicals like fluorochlorohydrocarbons and presence of the high number of substitutes are expected to hinder the market growth during the forecast period. Manufacturers are investing large capital to eliminate the use of these toxic chemicals and develop safer XPS systems. The introduction of high-quality, energy-efficient XPS systems and frequent product launches by market players to enhance their product portfolio provide various growth opportunities for market expansion.
Top Investment Pocket:
Asia-Pacific is anticipated to be the top investment pocket for market players, owing to the growth of construction industry in emerging economies such as China, India, and Korea, due to the rapid increase in industrialization and urbanization. In addition, the market growth is also attributed to the presence of major market players and increase in construction spending. The Asia-Pacific extruded polystyrene insulation materials market generated revenue of $1,096 million in 2016 and is expected to reach $1,978 million by 2023, growing at the highest CAGR of 8.5%.
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Extruded Polystyrene Insulation Materials Market Key Segments
---Rest of Europe
---Rest of Asia-Pacific
---Rest of LAMEA
Major Key Benefits for Stakeholders:
-This report provides a detailed study of the extruded polystyrene insulation materials market trends and forecast from 2015 to 2023, which assist to identify the prevailing market opportunities to capitalize on.
-In-depth coverage of the global market, including drivers, restraints, and opportunities, aids professionals to understand the market behavior in a better way.
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Major players operating in the global extruded polystyrene insulation materials market:
-The Dow Chemical Company,
-Honeywell International Inc.
-Bayer Material Science
-ITW Insulation Systems
-Evonik Industries AG
-Knauf Insulation and
-E. I. du Pont de Nemours and Company