GCC's Market for extruded polystyrene insulation materials is estimated at $ 80.5 million in 2016 and is expected to reach $ 109.9 million in 2023, an annual CAGR of 6.0% from 2017 to 2023.
Extruded polystyrene (XPS) insulation offers excellent long-term strength, durability and moisture resistance. It is generally used in waterproof and roof systems of the following grades, and the insulation is placed on the roof membrane. The XPS foam sheath provides insulation across the entire wall and reduces air leakage through the wall during proper installation. This in turn improves energy efficiency and comfort. In addition, XPS foam is better than other insulating materials because it supports moisture management and resistance to water absorption and freeze / thaw cycles.
The growth of the GCC extruded polystyrene insulation industry is driven by the increased demand for XPS in the non-residential construction sector, the popularization of energy-efficient building systems and the benefits of using XPS for other reinforcement materials. However, environmental issues related to the presence of toxic chemicals in XPS material systems can hinder market growth. As research and development activities to produce high-quality XPS without using greenhouse gases are increasing as bubbles, potential growth opportunities in the market are expected to be provided in the near future.
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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.
• Compagnie de Saint-Gobain S.A.

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.
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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.
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