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Extruded Polystyrene Insulation Materials Market Size, Share, Trends & Industry Growth Analysis Report to 2023-2030

The global extruded polystyrene insulation materials market revenue was worth around USD 6.12 Billion in 2022 and is estimated to grow to about USD 8.22 Billion by 2030, with a compound annual growth rate (CAGR) of approximately 5.31 percent over the forecast period.

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➤ The increased impact of building construction on the environment and human health is the driving force behind the demand for green buildings.

The utilization of environmentally favorable and resource-efficient techniques at every stage of the construction process is referred to as green construction. The primary objective of green construction is to enhance the energy efficacy of the building and minimize waste associated with the consumption of energy, water, and materials.

➤ Raw material costs are subject to fluctuations, and the presence of hazardous substances may impede market expansion.

Raw material prices are anticipated to fluctuate, and concerns regarding the presence of hazardous compounds are anticipated to impede the market’s growth. Additionally, the extruded polystyrene insulation materials industry’s expansion is being impeded by the exorbitant installation costs that are associated with its exceptional properties. A significant number of replacements is perceived as a challenging factor in the development of the market. The European Union’s (EU) Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) program has classified hexabromocyclododecane (HBDC) in polystyrene as a chemical of great concern. The program recommends that its use be restricted to the maximum extent possible.

➤ Technology’s advancements may create numerous opportunities for market expansion.

The contactless procedure of thermal welding enables the combination of a variety of insulation materials. For instance, Styrodur®, a rigid extruded polystyrene foam manufactured by BASF, may be combined with the melamine resin foam Basotect® or the polyurethane, inorganic insulation materials, to generate entirely novel insulation solutions. Therefore, the extruded polystyrene insulation materials market is expected to experience a growth spurt during the forecast period as a result of technological advancements in the development of advanced materials.

➤ The market growth is hindered by the disadvantages of the extruded polystyrene insulation material.

The use of extruded polystyrene insulation material is associated with several disadvantages, including inadequate sound insulation, UV sensitivity, and low vapor permeability. Nevertheless, the most significant drawback of this material is its inadequate fire resistance. The flame consumes the stove entirely as soon as the perimeter of the stove ignites. Additionally, burning emits highly toxic compounds into the environment, including phenols, which can be as harmful to the lungs as the high temperature itself.

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The Global Extruded Polystyrene Insulation Materials Market is segmented based on product, application and region

Global Extruded Polystyrene Insulation Materials Market: Product Segment Analysis

● Transportation
● Road
● Parking Lot
● Other

Global Extruded Polystyrene Insulation Materials Market: Application Segment Analysis

● Residential Construction
● Non-residential Construction

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The global Extruded Polystyrene Insulation Materials market profiles key players such as:

● Emirates Extruded Polystyrene LLC
● Kingspan Group
● Owens Corning
● Jackon Insulation GmbH
● Abrisonv
● URSA Insulation SA
● Ravago
● SopremaInc.
● Austrotherm
● Penoplex SPB LLC
● Knauf Insulation
● Foamex Victoria Pty. Ltd.
● Xella International GmbH
● Synthos S.A
● Technonicol Corporation
● The Ravago Group

???? Recent Developments

• Kingspan, an Irish company, announced in October 2021 that it had acquired Minnesota Diversified Products, a manufacturer of the DiversiFoam line of expanded polyisocyanurate (PIR) foam billets, extruded polystyrene (XPS) foam, and polystyrene (EPS). Owens Corning introduced Foamular NGX in August 2020, a novel line of extruded polystyrene (XPS) foam insulation products.

• Owens Corning, a leading American manufacturer of fiberglass composites and related products and materials, introduced its new Foamular NGX line of extruded polystyrene (XPS) foam insulation products in August 2020. The dispersing agent in this innovative line of products is known to achieve a 90% depletion in global warming potential (GWP) without compromising the product’s performance, ensuring that it will deliver effective results.

➤ Substantial growth is anticipated in the Asia Pacific region during the forecast period.

The global extruded polystyrene insulation material market was dominated by the Asia Pacific region. The demand for XPS insulation in Asia Pacific has been consistently increasing as a result of the support of private ownership of real estate and an increase in house remodeling and construction. Additionally, the Chinese government has implemented regulations that promote energy efficiency in the construction industry.

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