Australia Extruded Polystyrene Market Analysis and Growth 2030

Australia Extruded Polystyrene Market Size and Forecast (2020 - 2030), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By End-Use (Building & Construction, Industrial Insulation, Packaging, Automotive, and Others)

  • Report Code : TIPRE00038984
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 103
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Australia Extruded Polystyrene Market Analysis and Growth 2030

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The Australia extruded polystyrene market size is expected to reach US$ 118.90 million by 2030 from US$ 77.15 million in 2022; the market is estimated to register a CAGR of 5.6% from 2022 to 2030.

Market Insights and Analyst View:

Extruded polystyrene is an efficient insulation material that has been growing in popularity. It is widely used in the construction of basements, floors, foundations, walls, roofs, and others. The polystyrene beads are melted and then extruded through a dye to form a continuous closed-cell structure. The resulting boards have a high R-value and good moisture resistance. It also has high compressive strength and is easy to handle and install. The growing construction activities in Australia drive the need for insulation materials, thereby propelling the growth of the Australia extruded polystyrene market

Growth Drivers and Challenges:

According to the International Trade Administration (ITA), the Australian building & construction industry conducts over US$ 162 billion worth of building and construction work each year. The industry accounts for around 10% of GDP, thus being the fifth-largest industry in the economy. Factors, including population growth, urbanization, and infrastructure demand, have resulted in the development of Australia’s construction industry. Further, Australia's building & construction sector is renowned for its resilience and adaptability toward technological advancements. The building and construction have progressively adopted innovative techniques and technologies to meet evolving market demands and environmental concerns. The sector also continues to attract investments and provides substantial employment opportunities in the country. Extruded polystyrene is an essential material used in building and construction, majorly in foundations, basements, floors, walls, roofs, pipelines, roads, and railways. It is valued for its insulating properties, as it offers durability, energy savings, and moisture control. It is a thermoplastic polymer consisting of a closed-cell structure. Extruded polystyrene is often stronger, with a higher mechanical performance. It is recognized as a resilient and robust construction material boasting high compressive strength and superior thermal performance. The high-density cell structure of XPS makes it practically impervious to water. As extruded polystyrene foam consists of a higher R-value than other types of construction boards, it offers better resistance to heat transfer. Furthermore, the XPS utilized in the building & construction industry helps consumers lower their energy bills by reducing air leaks and decreasing the transfer of heat between indoor and outdoor environments. As moisture can increase mold and mildew in the building envelope when it passes through the walls, extruded polystyrene boards, when installed properly, provide a layer of protection against moisture. Owing to all these benefits, extruded polystyrene has become the number one choice for home builders, specifiers, architects, and engineers in Australia in recent years. Thus, the growing residential, commercial, and industrial construction activities are contributing to the growing Australia extruded polystyrene market.

Extruded polystyrene is made from materials such as general-purpose polystyrene, blowing agents, nucleating agents, flame retardants, etc. In the production of extruded polystyrene boards, hydrochlorofluorocarbons are used, which deplete the ozone layer. General-purpose polystyrene used in making extruded polystyrene is made from petrochemicals and is arduous to dispose of. The increasing use of plastics has led to extensive plastic landfills. A small percentage of plastic waste is recycled, and the remaining waste goes to landfills or incineration processes. The waste results in deteriorating soil and underground water bodies and causes global warming. Further, polystyrene is also known as a common source of global marine pollution. According to cleanup groups of British Columbia, extruded polystyrene materials account for 50–70% of marine pollution debris collected by coastal cleanup groups. As the most common forms of garbage found on coastlines, XPS debris creates serious economic and environmental problems. These materials adversely impact human health, wildlife, marine life, and the environment. Therefore, the harmful impact of extruded polystyrene and its raw materials on the environment hampers the Australia extruded polystyrene market growth.

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Australia Extruded Polystyrene Market: Strategic Insights

australia-extruded-polystyrene-market
Market Size Value inUS$ 77.15 million in 2022
Market Size Value byUS$ 118.90 million by 2030
Growth rateCAGR of 5.6% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Report Segmentation and Scope:

The Australia Extruded Polystyrene Market Analysis and Forecast to 2030 is a specialized and in-depth study with a significant focus on market trends and growth opportunities. The report aims to provide an overview of the market with detailed market segmentation by end-use. The market has witnessed high growth in the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the use of extruded polystyrene in Australia. In addition, the Australia extruded polystyrene market report provides a qualitative assessment of various factors impacting the market performance in Australia and a comprehensive analysis of the leading market players and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, Australia extruded polystyrene market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

The Australia extruded polystyrene market forecast is estimated on the basis of various secondary and primary research findings, such as key company publications, association data, and databases. Further, the ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the market, which helps understand the entire supply chain and various factors affecting the Australia extruded polystyrene market performance.

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Segmental Analysis:

The Australia extruded polystyrene market is segmented on the basis of end-use. Based on end-use, the market is segmented into building & construction, industrial insulation, packaging, automotive, and others. The industrial insulation segment held a significant portion of the Australia extruded polystyrene market share in 2022. Factories, manufacturing plants, warehouses, and other industrial facilities have specific insulation requirements to ensure optimal operational conditions. XPS, known for its excellent thermal insulation properties, is increasingly being used in the industrial sector to enhance energy efficiency and maintain controlled temperatures within these facilities. In industrial settings, where precise temperature control is essential for processes and equipment, XPS serves as a reliable solution to minimize heat transfer. This contributes to energy saving and aids in maintaining consistent production environments. Additionally, industrial facilities are exposed to varying weather conditions and may face challenges related to moisture ingress. XPS acts as a protective barrier; it helps prevent water damage and ensures the longevity of insulation systems in these environments. The materials' ease of installation and versatility also influence the industrial sector's reliance on XPS. In complex industrial settings, where insulation needs can be diverse and intricate, XPS offers flexibility in application, adapting to different surfaces and structures. Furthermore, industries focus on sustainability and energy conservation, and XPS aligns with these objectives. Its recyclability and long-lasting performance make it an attractive choice for industrial insulation, meeting the functional and environmental criteria the sector increasingly values.

Australia Extruded Polystyrene Market Share – by End-Use, 2022 and 2030

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Regional Analysis:

The thriving building & construction and automotive sectors in Australia are major contributors to the growing demand for extruded polystyrene (XPS). According to The Australian Industry and Skills Committee (AISC), the construction industry generates more than US$ 250 billion in revenue, producing around 9% of Australia's GDP, with a projected annual growth rate of 2.4% by 2025. XPS is widely used as an insulation material in construction due to its excellent thermal performance and moisture resistance. With an increasing focus on energy-efficient buildings and sustainable construction practices, builders and contractors in Australia are turning to XPS to meet these requirements. According to the New Zealand Trade and Enterprise, Australia's population is expected to reach 9.7 million in the next decade due to rising migration. An upsurging population leads to greater demand for housing. In addition, increasing single-person households is also expected to drive the requirement for housing.

Australia's climate variability, with hot summers and cool winters, drives the need for effective insulation materials. XPS provides insulation against temperature extremes and acts as a barrier to moisture, making it a preferred choice in various construction applications. The country's infrastructure development projects, such as residential and commercial buildings, also contribute to the rising demand for XPS. As urbanization continues and more structures are erected, the demand for reliable and durable insulation materials such as XPS is on the rise. Further, the government's support for energy-efficient buildings is the other key driver for the Australia extruded polystyrene market growth. For instance, Sustainability Victoria's Energy Efficient Office Buildings program demonstrates that up to 29% of energy savings can be attained across mid-tier office buildings via building tuning and cost-effective energy efficiency measures. In Australia, the building industry accounts for 23% of greenhouse gas emissions and around 19% of total energy consumption. Recent modeling suggests that the building sector can deliver a 23% reduction in emissions by 2030 and a 55% reduction by 2050. The awareness of environmental concerns and the push for sustainable practices have led to increased adoption of XPS, known for its recyclability and long lifespan. This aligns with Australia's commitment to eco-friendly building solutions and a greener construction industry.

Industry Developments and Future Opportunities:

A few initiatives by key players operating in the Australia extruded polystyrene market, as per press releases, are listed below:

  • In June 2023, DuPont Styrofoam Brand ST-100 Extruded Polystyrene Foam (XPS) received the 2023 ACC Sustainability Leadership Award in the Environmental Protection category.
  • In October 2022, BEWI completed the acquisition of Jackon. The company aims to create strong synergies across the value chain through this acquisition. BEWI and JACKON have around 70 facilities, in addition to 12 facilities owned through minority-owned companies operating in 13 European countries.

Competitive Landscape and Key Companies:

DuPont de Nemours Inc, Redbak International, Stile Board Pty Ltd, Bewi ASA, Foamex Group Pty Ltd, Kingspan Group Plc, Koolfoam Pty Ltd, The Foam Co, Owens Corning, and BASF SE are among the key players profiled in the Australia extruded polystyrene market report. The market players focus on providing high-quality products to fulfill customer demand.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

End-Use

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

1. Introduction

1.1 The Insight Partners Research Report Guidance

1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights: Australia Extruded Polystyrene Market

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Australia Extruded Polystyrene Market Landscape

4.1 Market Overview

4.2 Porter's Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Buyers

4.2.3 Threat of New Entrants

4.2.4 Intensity of Competitive Rivalry

4.2.5 Threat of Substitutes

4.3 Ecosystem Analysis

4.3.1 Raw Material Suppliers

4.3.2 Manufacturers

4.3.3 Distributors/Suppliers

4.3.4 End Use

4.3.5 Recycling

4.3.6 List of Vendors in Value Chain

5. Australia Extruded Polystyrene Market – Key Market Dynamics

5.1 Extruded Polystyrene Market – Key Market Dynamics

5.2 Market Drivers

5.2.1 Growing Construction Industry

5.2.2 Rising Awareness Regarding Benefits of Extruded Polystyrene (XPS)

5.3 Market Restraints

5.3.1 Harmful Impact of Raw Materials on Environment

5.4 Market Opportunities

5.4.1 Applications of Extruded Polystyrene in End-Use Industries

5.5 Future Trends

5.5.1 Increasing Focus on Recycled Extruded Polystyrene

5.6 Impact Analysis

6. Extruded Polystyrene Market - Australia Market Analysis

6.1 The Australia Extruded Polystyrene – Australia Market Overview

6.2 Australia Extruded Polystyrene Market Volume (Kilo Tons), 2020 - 2030

6.3 Australia Extruded Polystyrene Market Revenue (US$ Million), 2020 - 2030

6.4 Australia Extruded Polystyrene Market Forecast and Analysis

7. Australia Extruded Polystyrene Market Analysis – End-Use

7.1 End-Use Market Forecasts and Analysis

7.2 Building and Construction

7.2.1 Overview

7.2.2 Building and Construction Market Revenue and Forecast to 2030 (US$ Million)

7.2.3 Building and Construction Market Volume and Forecast to 2030 (Kilo Tons)

7.3 Industrial Insulation

7.3.1 Overview

7.3.2 Industrial Insulation Market Revenue and Forecast to 2030 (US$ Million)

7.3.3 Industrial Insulation Market Volume and Forecast to 2030 (Kilo Tons)

7.4 Automotive

7.4.1 Overview

7.4.2 Automotive Market Revenue and Forecast to 2030 (US$ Million)

7.4.3 Automotive Market Volume and Forecast to 2030 (Kilo Tons)

7.5 Packaging

7.5.1 Overview

7.5.2 Packaging Market Revenue and Forecast to 2030 (US$ Million)

7.5.3 Packaging Market Volume and Forecast to 2030 (Kilo Tons)

7.6 Others

7.6.1 Overview

7.6.2 Others Market Revenue and Forecast to 2030 (US$ Million)

7.6.3 Others Market Volume and Forecast to 2030 (Kilo Tons)

8. Industry Landscape

8.1 Overview

8.2 Product launch

8.3 Other Strategies and Developments

9. Competitive Landscape

9.1 Heat Map Analysis by Key Players

9.2 Company Positioning & Concentration

10. Company Profiles

10.1 DuPont de Nemours Inc

10.1.1 Key Facts

10.1.2 Business Description

10.1.3 Products and Services

10.1.4 Financial Overview

10.1.5 SWOT Analysis

10.1.6 Key Developments

10.2 Redbak International

10.2.1 Key Facts

10.2.2 Business Description

10.2.3 Products and Services

10.2.4 Financial Overview

10.2.5 SWOT Analysis

10.2.6 Key Developments

10.3 Stile Board Pty Ltd

10.3.1 Key Facts

10.3.2 Business Description

10.3.3 Products and Services

10.3.4 Financial Overview

10.3.5 SWOT Analysis

10.3.6 Key Developments

10.4 Bewi ASA

10.4.1 Key Facts

10.4.2 Business Description

10.4.3 Products and Services

10.4.4 Financial Overview

10.4.5 SWOT Analysis

10.4.6 Key Developments

10.5 Foamex Group Pty Ltd

10.5.1 Key Facts

10.5.2 Business Description

10.5.3 Products and Services

10.5.4 Financial Overview

10.5.5 SWOT Analysis

10.5.6 Key Developments

10.6 Kingspan Group Plc

10.6.1 Key Facts

10.6.2 Business Description

10.6.3 Products and Services

10.6.4 Financial Overview

10.6.5 SWOT Analysis

10.6.6 Key Developments

10.7 Koolfoam Pty Ltd

10.7.1 Key Facts

10.7.2 Business Description

10.7.3 Products and Services

10.7.4 Financial Overview

10.7.5 SWOT Analysis

10.7.6 Key Developments

10.8 The Foam Co

10.8.1 Key Facts

10.8.2 Business Description

10.8.3 Products and Services

10.8.4 Financial Overview

10.8.5 SWOT Analysis

10.8.6 Key Developments

10.9 Owens Corning

10.9.1 Key Facts

10.9.2 Business Description

10.9.3 Products and Services

10.9.4 Financial Overview

10.9.5 SWOT Analysis

10.9.6 Key Developments

10.10 BASF SE

10.10.1 Key Facts

10.10.2 Business Description

10.10.3 Products and Services

10.10.4 Financial Overview

10.10.5 SWOT Analysis

10.10.6 Key Developments

11. Appendix

11.1 About Us

11.2 Glossary of Terms

List of Tables

Table 1. Australia Extruded Polystyrene Market Segmentation

Table 2. List of Vendors in Value Chain

Table 3. List of Potential Customers for Australia

Table 4. Australia Extruded Polystyrene Market Volume and Forecasts To 2030 (Kilo Tons)

Table 5. Australia Extruded Polystyrene Market Revenue and Forecasts To 2030 (US$ Million)

Table 6. Glossary of Terms, Australia extruded polystyrene market

List of Figures

Figure 1. Porter's Five Forces Analysis

Figure 2. Ecosystem: Australia Extruded Polystyrene Market

Figure 3. Australia Extruded Polystyrene Market Impact Analysis of Drivers and Restraints

Figure 4. Australia Extruded Polystyrene Market Volume (Kilo Tons), 2020 – 2030

Figure 5. Australia Extruded Polystyrene Market Revenue (US$ Million), 2020 – 2030

Figure 6. Extruded Polystyrene Market Share (%) – End-Use, 2022 and 2030

Figure 7. Building and Construction Market Revenue and Forecasts To 2030 (US$ Million)

Figure 8. Building and Construction Market Volume and Forecasts To 2030 (Kilo Tons)

Figure 9. Industrial Insulation Market Revenue and Forecasts To 2030 (US$ Million)

Figure 10. Industrial Insulation Market Volume and Forecasts To 2030 (Kilo Tons)

Figure 11. Automotive Market Revenue and Forecasts To 2030 (US$ Million)

Figure 12. Automotive Market Volume and Forecasts To 2030 (Kilo Tons)

Figure 13. Packaging Market Revenue and Forecasts To 2030 (US$ Million)

Figure 14. Packaging Market Volume and Forecasts To 2030 (Kilo Tons)

Figure 15. Others Market Revenue and Forecasts To 2030 (US$ Million)

Figure 16. Others Market Volume and Forecasts To 2030 (Kilo Tons)

Figure 17. Heat Map Analysis by Key Players

Figure 18. Company Positioning & Concentration

The List of Companies - Australia Extruded Polystyrene Market

  1. DuPont de Nemours Inc
  2. Redbak International
  3. Stile Board Pty Ltd
  4. Bewi ASA
  5. Foamex Group Pty Ltd
  6. Kingspan Group Plc
  7. Koolfoam Pty Ltd
  8. The Foam Co
  9. Owens Corning
  10. BASF SE

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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