DUBAI, United Arab Emirates, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Future Market Insights (FMI) has estimated Polyisocyanurate Insulation Market to witness a year over year growth of 6.3% in 2022 reaching a value of about US$ 13,295.5 Mn by the end of 2022. The global business is further projected to reach a value of US$ 19,030.6 Mn By the end of the forecast period.
With changing global scenario in terms of energy saving initiatives, innovations and advancements in in insulation technology, the global Polyisocyanurate Insulation Market is likely to undergo major changes major changes in the coming years. Growing building and construction industry is expected to create positive impact on the growth of polyisocyanurate insulation market.
| Base Year Value (2021A) | US$ 12,510.0 Mn | |
| Estimated Year Value (2022E) | US$ 13,295.5 Mn | |
| Projected Year Value (2028F) | US$ 19,030.6 Mn | |
| Value CAGR (2022-2028) | 6.1% | |
| Collective Value Share: Top 3 Countries (2022E) | 27.8% | |
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Future Market Insights envisages that the demand for polyisocyanurate insulation is projected to expand at robust CAGR of 6.1% in terms of value during the forecast period, 2022-2028. Moreover, the valuation of polyisocyanurate insulation is forecast to reach US$ 19,030.6 Mn by the end of 2028, as per the report. Growing awareness and importance of energy saving is the key driver, positively impacting the growth of polyisocyanurate insulation market.
Rigid foam/board type insulation is expected to dominate the North America polyisocyanurate insulation market and spray type is likely to gain traction owing to its easy processability and application in wall assemblies. Growth in North America will mostly be driven by innovative product development and adoption of new regulations.
Diverse Benefits Making Polyisocyanurate Insulation Popular in Commercial and Residential Construction Markets
Application of polyisocyanurate insulation includes cold storage warehouses, private offices, medical buildings, airports and other industries that requires insulation materials.
Consumers are increasingly adopting sources for energy-efficient outcomes and moving towards sustainability, further driving the adoption of polyisocyanurate insulation materials across industry verticals. Considered stable for a wide range of temperature, builders are increasingly using light weighted polyisocyanurate insulation materials for conventional roof and wall assemblies.
Most importantly, sales of polyisocyanurate insulation materials is significantly rising considering key environment friendly aspects such as being CFC, HCFC, HFC free blowing agent along with zero ozone depletion potential.
Polyisocyanurate insulation is used in over 70% of commercial and residential markets for both wall and roof applications. The construction industry is under immense pressure to achieve increasing levels of energy performance and minimize environmental impact associated with increased energy consumption.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2027 |
| Historical Data Available for | 2012-2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America, Latin America, Eastern Europe, Western Europe, SEA&P, China, Japan, Middle East & Africa |
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, Russia, Poland, China, Japan, India, ASEAN, Oceania, Brazil, Mexico,GCC Countries, South Africa |
| Key Segments Covered | Type, Application, End Use and Region |
| Key Companies Profiled | • BASF SE • DowDuPont Inc. • Owens Corning Insulating Systems, LLC • SAINT-GOBAIN • Kingspan Group plc • Honeywell International Inc. • Johns Manville Corporation • Stepan Company • IKO Industries Ltd. • Soprema Group • Knauf Insulation • Atlas Roofing Corporation • Rmax Operating LLC • GAF Materials Corporation • Carlisle SynTec Systems • Hunter Panels |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Intensifying Demand for Efficient Cold Chain Operations to Fuel Polyisocyanurate Insulation Sales
Close to US$ 750 Bn worth of food being wasted or lost, each year is putting global trade agencies in a tough spot. Since, most of these losses stem from poor supply cold chain networks along with lack of trained personnel involved in storage and transportation, significant demand for refrigerated trucks and carriers with efficient insulation is anticipated to drive the polyisocyanurate insulation adoption.
Global trade associations and organizations are focusing on developing a robust global cold chain network through improved regulatory framework, encouraging investment in development of efficient cold chain networks, utilizing polyisocyanurate insulation material in the refrigerated freight services market.
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Recyclable and in accordance with new insulation standards, polyisocyanurate insulation possesses practically no global warming potential and zero ozone depletion potential, making it a widely used eco-friendly insulation material, with highly attractive growth prospects in the coming years. Moreover, an array of initiatives have been taken up by Governments, in a bid to reduce CO2 emissions.
Growing public awareness apropos of climate change has proliferated the need for renewable energy systems and energy waste reduction initiatives. This increasing public awareness has also resulted in immense opportunities for manufacturers to develop high-performance insulation products. Using polyisocyanurate insulation would contribute directly to the initiatives associated with energy conservation, eventually mitigating the effects of global warming.
Innovative product development to improve efficacy, expansion of production capacity to cater to the growing demand for polyisocyanurate insulation in niche applications, and other feasibility studies coupled with strengthening distribution network to maintain the adequate supply of polyisocyanurate insulation are some key strategies adopted by top players to solidify their positions in the market.
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Explore FMI’s Extensive ongoing Coverage on Chemicals & Materials Domain
Spray Foam Insulation Market - Spray foam insulation is a popular substitute for traditional insulation materials, such as glass and metal. It is also often referred to as Spray Polyurethane Foam Insulation (SPFI) and is routinely installed in new builds, renovations, and retrofits.
Ceramic Insulator Market - The ceramic insulator market offers a product line, which is significantly useful in electrical insulation and high temperature and high voltage work environments worldwide.
Insulated glass Market - Insulated glass is also known as insulated glass unit (IGU), as it is not an individual glass but a combined structure of two glasses separated by a space which is filled by a gas and a desiccant for absorbing moisture.
Cold Insulation Market - A technology implemented in industrial operations that are aimed at mitigating the loss of energy across various infrastructures and improving their energy efficiency is referred to as cold insulation.
Building Thermal Insulation Market - Thermal insulation is one of the most commonly known phenomena in the construction industry, which is implemented to reduce the transfer of heat between the adjacent environments.
Fireproof Insulation Market - Fireproof insulations are used to combat the spread of flames in case of fire disaster and helps in protecting the load bearing structure of the building, investments and human lives. The different types of material used in fireproof insulation are fiberglass, cellulose, mineral wool, polystyrene (EPS) and polyurethane foam.
High-Performance Insulation Materials Market - Insulation is defined as a complete barrier to transfer of heat through walls, floor and ceilings by trapping it into small cavities that helps in maintaining indoor temperature, save energy costs, and creates a healthier & comfortable living environment.
HVAC Insulation Market - Insulation to the heating, ventilation and air conditioning systems (HVAC) is a way of improvising the fire safety, energy efficiency and acoustic performance of the buildings. The insulation is provided in HVAC systems as a resistance towards heat loss or gain.
Industrial Pipe Insulation Market - Insulation is mainly done to retard the flow of heat. Pipe insulation is done in places where the operational temperature is above or below ambient temperature. Industrial pipe insulation is done to conserve energy by reducing heat loss or gain.
Insulating Paints and Coatings Market - Increasing energy consumption is a severe issue for the governments of various regions -- energy used in commercial and residential buildings makes about thirty percent of total national consumption.
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