Extruded Polystyrene (XPS) Insulation Material Industry 2020 is excepted to reach $7.9 billion by 2027

 The global extruded polystyrene insulation material market was valued at $5.2 billion in 2019, and is projected to reach $7.9 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027.

To know more 

Extruded polystyrenes (XPS) are thermoplastic polymers manufactured through the extrusion process. These polymers are highly moisture resistant and possess superior insulation properties due to their closed cell structure. In addition, they are characterized by high compressive strength, easy installation & handling, and long-term thermal performance. They are suitable for use in both interior and exterior applications in cold storage installations, rail beds, transmission line power foundations, walkaways, under concrete floors, parking decks, underground utility lines, fountain foundations, and other load-bearing applications.

Increase in infrastructural development activities like construction of highways, rail networks and airports across the developing economies such as India and China is the major factor that drives the growth of the XPS insulation material market. In addition, due to rapid urbanization the demand for new residential buildings has been increased significantly. Government initiatives like "Housing for All" launched by Government of India is anticipated to fuel the demand for XPS insulation material market. In addition, governmental infrastructural development program like "Smart City Project" that includes construction of modern infrastructure facilities and residential projects to tackle the growing environmental pollution and to provide houses to the people with modern facilities is anticipated to surge the demand XPS insulation material market. Surge in demand for insulation against high temperature from the residential construction sector is expected to drive the growth of the extruded polystyrene insulation material market. Furthermore, rise in popularity of energy-efficient building systems is also anticipated to increase the demand for extruded polystyrene insulation material and is likely to drive the growth of the market during the forecast period.