Extruded Polystyrene Market by Application (Foundation, Roof, Wall, Floor & Ceiling), End-use Industry (Residential, Commercial), and Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Global Forecast to 2028

Extruded Polystyrene Market by Application (Foundation, Roof, Wall, Floor & Ceiling), End-use Industry (Residential, Commercial), and Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) - Global Forecast to 2028

The extruded polystyrene market is poised for significant growth, with a projected value of USD 6.9 billion by 2028, exhibiting a robust CAGR of 4.3% from its 2023 value of USD 5.6 billion. The extruded polystyrene market is witnessing substantial growth, primarily driven by two key factors. One of the main factors is its exceptional thermal insulation capabilities in the construction industry. International initiatives aim to lower building energy consumption, and the extruded polystyrene satisfies strict energy norms and requirements, improving building efficiency. Second, extruded polystyrene exhibits properties such as high compressive strength and moisture resistance, making it a durable material suitable for various applications. These combined forces are propelling the demand for extruded polystyrene in various end-use industries such as residential, commercial, and others.

“Foundation segment was the largest application of extruded polystyrene in 2022, in terms of value.”

The foundation segment is the largest application in the extruded polystyrene market due to its versatile properties. Extruded polystyrene plays a critical role in providing thermal insulation and moisture resistance beneath building foundations. Extruded polystyrene insulation boards are placed below the concrete slab of a building, helping to reduce heat loss, prevent moisture intrusion, and enhance the structural stability of the foundation. This segment's significance is attributed to the ongoing emphasis on energy-efficient construction practices and the need to comply with building codes, where extruded polystyrene plays a vital role in ensuring improved energy performance and durability of buildings. It is widely used in various end-use industries, including residential, commercial, and others, making it the preferred choice for manufacturers and the construction industry seeking a balance between quality and sustainability.

“Residential segment is estimated to be the largest end-use industry of extruded polystyrene market in 2022, in terms of value.”

The residential segment dominates the extruded polystyrene market due to many vital factors. The residential segment was indeed one of the largest end-use industries for extruded polystyrene due to its extensive applications in residential construction. Extruded polystyrene insulation finds wide use in residential buildings for insulating walls, floors, roofs, and basements. This is a favorably chosen material that contributes to energy efficiency, comfortable indoor conditions, and adherence to building codes because of its outstanding thermal insulating qualities, moisture resistance, and structural support. Extruded polystyrene is also becoming increasingly popular in the residential industry because of changing industry standards and regulatory pressure.

“Europe is estimated to be the largest extruded polystyrene market in 2022, in terms of value.”

Europe held a dominant position in the extruded polystyrene market in 2022, owing to the presence of significant players such as Kingspan Group PLC, BASF SE, Synthos S.A., Ravago S.A., Saint-Gobain, who have strengthened the region's standing in this industry. Europe has a significant market for extruded polystyrene, primarily due to stringent building regulations emphasizing energy efficiency and insulation standards in construction practices across the region. These regulations have driven the widespread adoption of extruded polystyrene in various construction applications, including residential, commercial, and other projects.

In the meticulous process of determining and verifying market sizes for multiple segments and subsegments, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees is as follows:

By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%

By Designation: - Director Level - 27%, C-Level - 25%, and Others - 48%

By Region: North America - 32%, Europe - 28%, Asia Pacific - 21%, South America - 12%, and Middle East & Africa - 7%

The key market players illustrated in the report include Kingspan Group PLC (Ireland), Owens Corning (US), BASF SE (Germany), Synthos S.A. (Poland), Ravago S.A. (Belgium), Saint-Gobain (France), Dupont de Nemours, Inc. (US), Dow Inc. (US), Kaneka Corporation (Japan), and Supreme Petrochem Ltd. (India).

Research Coverage

This report segments the market for extruded polystyrene on the basis of application, end-use industry, and region and provides estimations for the overall value (USD Million) of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for extruded polystyrene.

Reasons to buy this report

This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the extruded polystyrene market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Growing construction industries in developing nations, Increasing focus on sustainability and green building, Expanding applications in infrastructure projects, Advancement in manufacturing technologies), restraints (Environmental concerns and regulatory pressures, Availability of high-performance substitute), opportunities (Easy recyclability of polystyrene products, Consumer preference for longevity), and challenges (Fluctuation in raw material cost and supply)

Market Penetration: Comprehensive information on extruded polystyrene offered by top players in the global extruded polystyrene market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the extruded polystyrene market

Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for extruded polystyrene across regions.

Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global extruded polystyrene market

Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the extruded polystyrene market

Impact of recession on the extruded polystyrene market