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Extruded Polystyrene Market 2023 Future Trends, Dynamic Growth & Forecast To 2032


Published: 2023-09-13
Views: 535
Author: shubham7007
Published in: Business
Extruded Polystyrene Market 2023 Future Trends, Dynamic Growth & Forecast To 2032

Extruded Polystyrene Market Dominated by Asia Pacific due to Growing Construction Industry

The global extruded polystyrene market is expected to reach a valuation of USD 3.6 billion by the end of the forecast period from 2023 to 2030, according to the latest research report from Market Research Future (MRFR). The global extruded polystyrene market is mainly driven by the growing demand from the construction industry, which is growing rapidly in both developing as well as developed countries. The report provides a thorough background data sheet on the global extruded polystyrene market, including the major drivers and restraints affecting the market’s growth, the leading players operating in the global extruded polystyrene market, and the historical growth trajectory of the market. The future growth prospects of the global extruded polystyrene market are analyzed in great detail in the report in order to provide readers with a clear picture of how the market is likely to grow over the forecast period.

Get sample copy of report at: https://www.marketresearchfuture.com/sample_request/7500 

Extruded polystyrene is formed from polystyrene by the process of extrusion, i.e. processing polystyrene to form blocks of uniform width and height. The global extruded polystyrene market is mainly driven by the growing demand from the construction industry, where it is used as an insulation component in a varied range of construction applications. The growing demand for effective insulation materials in construction projects is likely to be the major driver for the global extruded polystyrene market over the forecast period. Insulation materials have become highly important in the construction industry due to the help they provide in terms of lowering the overall energy consumption of the project and protecting the building’s interiors from moisture, heat, and sound. Effective insulation has emerged as a prime factor in creating energy-efficient construction projects, which minimize the costs of energy (i.e. heating or cooling) for the building’s occupants and lower the overall energy bill of the project.

The growing research into expanding the application scope of plastics is likely to be a key driver for the global extruded polystyrene market. Extruded polystyrene is used in various applications in the construction industry as well as other application industries such as electronics production, automobile production, and toys and other household items. These applications are also likely to be crucial for the global extruded polystyrene market over the forecast period.

On the other hand, the adverse environmental effects of the nonbiodegradable extruded polystyrene could present a major barrier for the growth of the global extruded polystyrene market over the forecast period.

Competitive Analysis:

Leading players in the global extruded polystyrene market include BASF SE, Kingspan Group, Emirates Extruded Polystyrene LLC, ACH Foam Technologies Inc., Soprema, URSA Insulation SA, Austrotherm, Ravago SA (Ravatherm), Abriso NV, Owens Corning, and DowDuPont.

In February 2019, Ravago acquired the European Styrofoam operations of DowDuPont, including production as well as post-production activities such as sales and marketing, customer service, and supply chain operations.

Speak to analyst: https://www.marketresearchfuture.com/ask_for_schedule_call/7500

Segmentation:

The global extruded polystyrene market has been segmented on the basis of end-use industry and region.

By end-use industry, the extruded polystyrene market has been divided into residential construction and commercial construction. The commercial construction segment held a majority share of 63% in the global extruded polystyrene market in 2017 and is likely to retain a dominant share in the global market over the forecast period due to the growing demand for commercial construction in emerging economies in Southeast Asia, the Middle East, and Latin America. The growing emphasis on the environmental viability of building structures in these regions is likely to drive the demand from the extruded polystyrene market in the region over the forecast period.

Browse full Report: https://www.marketresearchfuture.com/reports/extruded-polystyrene-market-7500

Regional Analysis:

The global extruded polystyrene market is dominated by Asia Pacific due to the rapid pace of growth of the construction industry in countries such as India, China, Malaysia, Australia, and Japan. Rapid urbanization in the region has driven the demand for extruded polystyrene in the region and is likely to remain a major driver for the market over the forecast period. Growing residential construction in Asia Pacific is also likely to be a major driver for the extruded polystyrene market over the forecast period.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Website: https://www.marketresearchfuture.com

 

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