GCC Extruded Polystyrene Insulation Materials Market by Application - Opportunity Analysis and Industry Forecast, 2017-2023

Executive Summary

According to a new report titled, GCC Extruded Polystyrene Insulation Materials Market by Application: Opportunity Analysis and Industry Forecast, 2017-2023, the GCC extruded polystyrene insulation materials market size was valued at $80.5 million in 2016, and is estimated to reach $119.9 million by 2023, registering a CAGR of 6.0% from 2017 to 2023.

Extruded polystyrene (XPS) insulation material provides exceptional long-term strength, durability, and resistance to moisture. It is commonly used for below-grade waterproofing and roof systems, where insulation is placed over the roof membrane. XPS foam sheathing provides insulating value to the entire wall area and reduces air leakage through walls on proper installation. This in turn improves energy efficiency and comfort. Moreover, XPS foam is advantageous to use over other insulating materials, owing to its ability to assist with moisture management, being resistant to both water absorption and freeze/thaw cycles.

The growth of GCC extruded polystyrene insulation materials industry is driven by surge in demand for XPS from the nonresidential construction sector, emerging popularity of energy-efficient building systems, and benefits of using XPS over other reinforcement materials. However, environmental issues regarding the presence of toxic chemicals in XPS material systems could hamper the market growth. Increase in R&D activities to produce high-quality XPS without the use of greenhouse gases as foaming agents is projected to provide potential growth opportunities for the market in the near future.

The residential construction segment is projected to grow at the highest CAGR throughout the forecast period. The nonresidential segment accounted for more than 50% share in 2016, owing to the increase in demand for insulated commercial buildings. Nonresidential construction includes retail stores, commercial offices, factories, warehouses, power stations, cold stores, food processing plants, telecom shelters, and public institutions such as schools and hospitals.

Key findings of the GCC Extruded Polystyrene Insulation Materials Market:

In 2016, UAE contributed the maximum revenue to the GCC extruded polystyrene insulation materials market, accounting for more than 53.2% share.
Bahrain is expected to register the highest CAGR of 8.3% from 2017 to 2023.
The residential construction segment accounted for approximately 43.6% share of the overall market in 2016, and is expected to grow at a CAGR of 6.4% from 2017 to 2023.

The key players profiled in the report are Styro Insulation Material Ind. (LLC), Isofoam Engineering Products, National Polystyrene Packaging Factory LLC, Emirates Extruded Polystyrene LLC, Electronic & Engineering Industries Co. LLC (EEI), Styrene Insulation Industry, Thermal Insulation Contracting LLC, BASF SE, Kingspan Holdings Ltd., and Compagnie de Saint-Gobain S.A.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.