$6.7Bn Extruded Polystyrene Market Outlook, 2024 - Availability of High-Performance Substitutes & Volatility in Raw Material Prices Hamper Growth

DUBLIN, Dec. 19, 2019 /PRNewswire/ -- The "Extruded Polystyrene Market by Application (Foundation (Basement & Below Ground), Roof, Wall, Floor & Ceiling), End Use (Residential, Commercial), Region (Europe, North America, APAC, Middle East & Africa, South America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global XPS market is projected to grow from USD 5.5 billion in 2019 to USD 6.7 billion by 2024, at a CAGR of 4% during the same period.

The increasing infrastructure spending in line with numerous government initiatives across the world and the additional insulating properties of XPS are expected to drive the market growth. Availability of alternatives and strict government policies regarding flame retardant additives used in XPS are restraining the growth of the XPS industry.

BASF SE (Germany), Synthos S.A. (Poland), DuPont de Nemours Inc. (US), Saint-Gobain Isover SA (France), Knauf Group (Insulation) (Germany), Owens Corning Inc. (US), TechnoNicol Corporation (Russia), Austrotherm GmbH (Austria), Ursa Insulation SA (Spain), Penoplex SPB LLC (Russia), Ravago Group (Luxembourg), Loyal Group (China), are the key players operating in the XPS market.

Based on application, the foundation segment is expected to lead the XPS industry during the forecast period

The foundation segment accounted for the majority of the XPS market share in 2018, and the trend is expected to continue during the forecast period. Increasing construction activities are expected to play a vital role in driving the growth of the segment. Insulating the entire house is very critical in order to save energy losses that can occur through basement or foundation. Energy loss through basement or foundation is calculated at one-third of the total energy lost through the infrastructure. Exterior basement or foundation insulation is performed underground to achieve best results. High compressive strength and moisture resistance properties of XPS makes it an ideal choice for basement and foundation insulation.

The residential segment is expected to grow at a higher CAGR than commercial end use during the forecast period

When insulating buildings, floor space is considered to be the most important as a major portion of energy is lost through floors. Thus, effective insulation of floor space is considered very important while building construction. Moreover, energy losses in residential buildings are usually higher than in commercial buildings; thus, residential buildings are more insulated to conserve energy. Hence, the residential segment is expected to drive the demand for XPS in the future.

Europe is expected to lead the XPS industry during the forecast period

The European region is projected to lead the extruded polystyrene market from 2019 to 2024, in terms of value. The region has emerged as one of the leading producers as well as consumers of XPS due to the huge demand for insulation materials in building and construction. The flourishing building & construction industry in the region and EU energy conservation goals are a few major factors that are driving the XPS industry in Europe. The market in Europe is heavily regulated and closely monitored to ensure a high level of protection for the environment and human health from the risks posed by chemicals that are added in the insulation products.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for Players in the XPS Market
4.2 XPS Market Size, By End Use
4.3 XPS Market Size, Developed vs. Developing Countries
4.4 APAC: XPS Market
4.5 XPS Market Attractiveness

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Regulations to Reduce Greenhouse Gas Emission
5.2.1.2 Development of Green Buildings
5.2.1.3 Reduction in Energy Consumption and Its Related Cost
5.2.1.4 Presence of Stringent Building Energy Codes
5.2.1.5 Rebates and Tax Credits
5.2.2 Restraints
5.2.2.1 Availability of High-Performance Substitutes
5.2.2.2 Volatility in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Easy Recyclability of Polystyrene Products
5.2.3.2 High Energy Requirements
5.2.4 Challenges
5.2.4.1 Rising Stringent Government Regulations
5.2.4.2 Lack of Awareness
5.3 Policy & Regulations
5.4 Porter's Five Forces Analysis
5.4.1 Threat of Substitutes
5.4.2 Bargaining Power of Buyers
5.4.3 Threat of New Entrants
5.4.4 Bargaining Power of Suppliers
5.4.5 Intensity of Competitive Rivalry

6 Extruded Polystyrene Market, By End Use
6.1 Introduction
6.2 Residential
6.2.1 Increasing Population and Growing Urbanization to Drive the Demand for XPS in the Residential Segment
6.3 Commercial
6.3.1 Growing Demand for Commercial Construction Projects is Driving the XPS Market
6.4 Others (Roadways, Highways, Railways, Runways)
6.4.1 Growth and Development in the Infrastructure Sector to Drive the XPS Consumption in This Segment

7 Extruded Polystyrene Market, By Application
7.1 Introduction
7.2 Foundation
7.2.1 Energy Loss Through Basement Or Foundation is A Critical Issue for the Building Sector
7.3 Roof
7.3.1 XPS in Roof Eliminates the Chance of Water Condensation Within Building Assemblies
7.4 Wall
7.4.1 XPS Helps in Protecting the Overall Integrity of the Wall System
7.5 Floor & Ceiling
7.5.1 XPS in Floor & Ceiling Prevents Energy Loss By Hvac Systems
7.6 Others
7.6.1 Potential Opportunities for XPS in Pipes, Marine Insulation, and Utility Lines Insulation

8 Extruded Polystyrene Market, By Region
8.1 Introduction
8.2 APAC
8.3 Europe
8.4 North America
8.5 Middle East & Africa
8.6 South America

9 Competitive Landscape
9.1 Overview
9.2 Market Ranking Analysis
9.3 Competitive Scenario
9.3.1 Product Launch
9.3.2 Expansion
9.3.3 Acquisition & Technology Development

10 Company Profiles
10.1 BASF SE
10.2 Synthos S.A.
10.3 Kingspan Group PLC
10.4 Dupont De Nemours Inc.
10.5 Owens Corning
10.6 Saint-Gobain Isover S.A.
10.7 The Ravago Group
10.8 Versalis S.p.A.
10.9 Knauf Group (Insulation)
10.10 Technonicol Corporation
10.11 Austrotherm GmbH
10.12 Ursa Insulation S.A.
10.13 Penoplex SPB LLC
10.14 Loyal Group

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