Global Extruded Polystyrene Market projected to reach USD 8.83 billion by 2033 with steady growth

From GlobeNewswire: 2024-06-06 14:00:00

The Global Extruded Polystyrene Market is projected to grow from USD 5.52 billion in 2023 to USD 8.83 billion by 2033, with a CAGR of 4.81%. Extruded polystyrene is a robust insulation material used in construction for its thermal insulation properties. However, stringent environmental laws could hinder market growth due to concerns about its impact on health and the environment.

The foundation segment is expected to dominate the global extruded polystyrene market due to its significant energy consumption. Residential buildings, driven by the need for energy-efficient performance, are anticipated to hold the largest share in the market. Asia Pacific is expected to lead in market share, with North America growing rapidly due to emphasis on energy-efficient construction.

Key players in the Global Extruded Polystyrene Market include BASF SE, Kaneka Corporation, Synthos S.A., and others. Recent developments include BASF’s expansion in Indonesia to meet the rising demand. The market is segmented by application (Foundation, Wall, Roof, etc.), end-use (Residential, Commercial, etc.), and region. Spherical Insights & Consulting provides in-depth analysis and forecasting of the market for strategic decision-making.



Read more at GlobeNewswire: Global Extruded Polystyrene Market Trends To Worth USD 8.83