Cleveland OH, June 9, 2023 – According to a new study by The Freedonia Group, Global Foamed Plastic Insulation, expanded polystyrene (EPS) will remain the most used type of foamed plastic insulation, accounting for 49% of demand in 2027.
Demand for EPS insulation is expected to grow 3.3% per year to 4.8 million metric tons in 2026, with gains will be bolstered by:
• the ongoing use of concrete building construction methods throughout the world, as EPS used in insulated concrete forms can enhance the insulation of concrete building products without affecting their structural strength
• the rising popularity of prefabricated housing and insulated building panels
• gains in industrial and HVAC equipment production, where EPS is favored due to its low cost, light weight, and ability to be wrapped around pipes
• its continued pricing advantages over competing foamed plastic products, an important consideration in developing markets
The global foamed plastic insulation market is highly correlated to trends in building construction activity and, to a lesser extent, the production of industrial and HVAC equipment, motor vehicles, and appliances.
Despite a major downturn in construction in India and Central and South America in 2020, ongoing declines in single-family housing construction in China, a severe crash in the Italian and Spanish housing markets early in the historical period, the global foamed plastic insulation market in weight terms expanded at an annual rate of 3.6% from 2011 to 2021.
About The Freedonia Group
The Freedonia Group, a division of MarketResearch.com, is a premier international business research company, providing clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. The Freedonia Group’s brands also include Packaged Facts, a trusted provider of consumer market research on food & beverage, pet products and services, demographics, and financial services, and Simba Information, the leading authority for market intelligence and forecasts on the education and professional publishing industries. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.