Extruded Polystyrene (XPS) to Expand 4.7% Annually Through 2023

CLEVELAND, Oct. 5, 2019 /PRNewswire/ -- Demand for extruded polystyrene (XPS) insulation is forecast to grow 4.7% per annum to 1.6 million metric tons in 2023, boosted by:

• the rising popularity of prefabricated housing and insulated building panels, as XPS offers a high R-value at a lower cost than rigid board
• gains in industrial and HVAC equipment production, as XPS is frequently installed in pipe and duct applications for its insulative properties
• rising nonresidential construction activity, as XPS is commonly used in metal frame construction applications due to the ease with which it can be attached to metal panels or gypsum boards
• higher global incomes that allow end users to upgrade to XPS from EPS, the lowest cost foamed plastic product

XPS is anticipated to increase its market share through 2023 as it provides similar energy efficiency at a lower price than PUR/PIR.

For more information regarding the study Global Foamed Plastic Insulation visit: https://www.freedoniagroup.com/industry-study/global-foamed-plastic-insulation-3756.htm

Global demand for all types of foamed plastic insulation is anticipated to grow 3.8% annually to 8.2 million metric tons in 2023. Expanded polystyrene (EPS) will continue to account for the largest share of demand through 2023 – 43% – as its low cost and widespread availability make it the material of choice in many low-income parts of the world.

Contact Corinne Gangloff for an interview with the analyst.

Additional Construction & Building Products topics can be viewed here: https://www.freedoniagroup.com/industry-category/build/construction-building-products.htm

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
cgangloff@freedoniagroup.com

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SOURCE The Freedonia Group