As per the report published by Allied Market Research, the global extruded polystyrene (XPS) insulation material market accounted for $5.2 billion 2019, and is projected to hit $7.9 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027. The report offers a detailed analysis of the value chain, market dynamics, top winning strategies, key segments, business performance, and competitive landscape.
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.
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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 XPS insulation material market is segmented on the basis of application and geography. Based on application, the market is divided into residential construction and non-residential construction. The non-residential construction segment held the largest share in 2019, accounting for more than two-thirds of the market. However, the residential construction segment is projected to reach the highest CAGR of 7.0% during the forecast period.
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The global XPS insulation material market report includes an in-depth analysis of the major market players such as Kingspan Group, BASF SE, Emirates Extruded Polystyrene LLC, Owens Corning, Abrisonv, Ravago, Jackon Insulation GmbH, URSA Insulation SA, SopremaInc., and Austrotherm. They have adopted various strategies such as partnerships, collaboration, mergers & acquisitions, and project launch.
Asia-Pacific dominated the global extruded polystyrene insulation materials market in 2016, attributed to the increase in demand for energy-efficient buildings and adoption of green building systems. High precipitation, extreme temperature variations among the four seasons, and high temperature have increased the need for insulated homes, thereby boosting the market for XPS. Moreover, presence of major market players and their active participation in development activities, like frequent product launches, are further expected to drive the Asia-Pacific market.
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Key players operating in the global extruded polystyrene insulation materials market include BASF SE, The Dow Chemical Company, Honeywell International Inc., Kingspan plc, Bayer Material Science, ITW Insulation Systems, Saint-Gobain S.A., Evonik Industries AG, Knauf Insulation, and E. I. du Pont de Nemours and Company.
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