DUBLIN--(BUSINESS WIRE)--The "Extruded Polystyrene Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Extruded Polystyrene Market is projected to register a CAGR of over 4% during the forecast period (2021-2026).

Companies Mentioned

• Austrotherm
• BASF SE
• DiversiFoam Products
• DuPont
• EMIRATES EXTRUDED POLYSTYRENE L.L.C.
• Saint-Gobain ISOVER
• JACKON Insulation GmbH
• Kingspan Group
• Knauf Insulation
• Owens Corning
• Ravago Greece Group
• Soprema Group
• Synthos
• TECHNONICOL
• URSA
• Versalis S.p.A.

Key Market Trends

Increasing Demand from Residential Segment

• Extruded polystyrene (XPS) is a thermoplastic polymer that has a closed-cell structure and is considerably stronger with higher mechanical performance but is more expensive than its close substitute expanded polystyrene (EPS).
• Extruded polystyrene is widely used in residential buildings in the form of rigid foam for the insulation of floors, roofs, walls, ceilings, and balconies owing to its properties namely high compressive strength and moisture resistance.
• Furthermore, extruded polystyrene is most widely used in the insulation of green buildings owing to its ability to reduce energy consumption by 6-8% and also ability to reduce greenhouse gas emissions namely carbon dioxide and methane.
• The global residential building construction industry is projected to register a CAGR of over 10% during the forecast period owing to which the demand for extruded polystyrene is expected to increase which will propel the extruded polystyrene market.
• According to World Bank and the publisher's analysis, the construction industry spending worldwide in the year 2019 was USD 12 trillion and is forecasted to reach an estimated value of USD 15.3 trillion in the year 2026 which will create the demand for building walls.
• The US Census Bureau has been providing more permits for the construction of new residential buildings due to the current trend of a multi-family building, along with a rise in the migration to cities.
• According to US Census Bureau, construction spending in the United States in both private, as well as public construction in 2020, is around USD 1400 billion. Furthermore, according to StatCan, gross domestic product at basic prices for the construction industry in Canada in the year 2019 was around 141.22 billion Canadian dollars and is expected to increase during the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region is expected to dominate the market for extruded polystyrene during the forecast period. In countries like China, and India owing to the growing population, increasing industrialization, urbanization, and living standards, the demand for extruded polystyrene has been increasing in the region.
• The Asia-Pacific region accounted for more than 40% of the global extruded polystyrene consumption share owing to growth in various sectors namely banking, telecommunication, information technology, financial services, and insurance.
• Governments of countries like India, China, and Japan have emphasized reducing the emission of greenhouse gases owing to which adoption of green buildings is increasing in the region and the demand for extruded polystyrene is increasing as it reduces the emission of harmful gases like carbon dioxide and methane.
• The Indian government has allocated USD 63 billion for the infrastructure sector in 2019-20 and is planning to spend USD 1.4 trillion over the next five years.
• In India, the construction industry in value terms is expected to record a CAGR of 15.7% to reach USD 738.5 billion by 2022.
• The construction sector of India has been growing at a higher rate owing to the increasing investments and increasing purchasing power of people. The government of India supports the higher growth of construction sector through their schemes as: "Pradhan Mantri Awas Yojana (PMAY)" programme aims to build 20 million urban homes and 30 million rural houses by 2022.
• The rising expenditure in infrastructure development is expected to propel the extruded polystyrene market. For instance, China is investing USD 1.43 trillion in the next five year till 2025, in major construction projects. According to National Development and Reform Commission (NDRC), Shanghai plan includes the investment of USD 38.7 billion in next three years, whereas Guangzhou has signed 16 new infrastructure projects with and investment of USD 8.09 billion.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growth in Construction and Building Activities

4.1.2 Increase in Demand of Insulation Materials

4.2 Restraints

4.2.1 High Cost of Extruded Polystyrene

4.2.2 Negative Impact of COVID-19 Pandemic

4.2.3 Other Restraints

4.3 Industry Value Chain Analysis

4.4 Porters Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Application

5.1.1 Residential

5.1.2 Commercial

5.1.3 Infrastructure

5.2 Geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share (%) /Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Increasing Demand for Sustainable Solutions

7.2 Other Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/l0c720

» Publication Date: 11/10/2021

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