Extruded Polystyrene (XPS) Insulation Material Market Poised for Global Expansion: Analysing Technology Trends and Business Opportunities

According to the report by Allied Market Research, the global extruded polystyrene (XPS) insulation material market reached $5.2 billion in 2019 and is expected to reach $7.9 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027. The report provides an in-depth analysis of the market dynamics, value chain, key segments, competitive landscape, and winning strategies.

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The market growth is attributed to the increasing demand from the non-residential construction sector, the growing popularity of energy-efficient building systems, and the advantages of XPS insulation material over other reinforcement materials. However, environmental concerns related to toxic chemicals in XPS insulation material are hindering market growth. Nevertheless, the rise in the use of CO2 as a foaming agent presents lucrative opportunities for market players in the future.

The global XPS insulation material market is segmented based on application into residential construction and non-residential construction. The non-residential construction segment dominated the market in 2019, accounting for more than two-thirds of the market share. However, the residential construction segment is projected to witness the highest CAGR of 7.0% during the forecast period.

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Regionally, Asia-Pacific led the market in 2019, holding nearly half of the market share, and is expected to register the highest CAGR of 6.6% during the forecast period.

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Key players in the global XPS insulation material market include Kingspan Group, BASF SE, Emirates Extruded Polystyrene LLC, Owens Corning, Abrisonv, Ravago, Jackon Insulation GmbH, URSA Insulation SA, SopremaInc., and Austrotherm. These players have adopted various strategies such as partnerships, collaborations, mergers & acquisitions, and product launches to strengthen their market position.

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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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