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Description
Extruded Polystyrene Market size was valued at USD 9.6 billion in 2021, growing at a CAGR of 4.9% from 2022-28. Demand for energy-efficient buildings, rise in government infrastructure projects, expanding construction industry, distinct properties of XPS over traditional insulation materials and adoption of green building systems are some key factors influencing the market growth. However, factors such as presence of toxic chemicals in polystyrene are limiting the market growth. In addition, robust investments in R&D provides huge growth opportunity for the market. Polystyrene is very inert, it doesn’t react particularly well with either acidic or basic solutions. This characteristic cause’s polystyrene to last a long time in the natural environment which poses a litter hazard as the material. Hence, effects of polystyrene on environments is hampering the market growth. The thermoplastic polymer extruded polystyrene (XPS) has a closed-cell structure. Extruded polystyrene is primarily employed as an insulating material in the residential and commercial building industries. Insulation for plaster and ventilated facades, pitched and flat roofs, floors, walls, and other structures is made of extruded polystyrene.
