NEWARK, Del, April 03, 2024 (GLOBE NEWSWIRE) -- The global foam insulation market is anticipated to reach a valuation of US$ 32.6 Billion in 2024, driven by expansion of cold chain logistics. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.4% between 2024 and 2034, and reaching a total valuation of approximately US$ 60.7 Billion by 2034.
There is a growing demand for foam insulation materials for soundproofing and acoustic insulation applications. There is a rising need to mitigate noise transmission in residential, commercial, and industrial buildings, as urbanization and noise pollution increase.
Consumers and businesses are increasingly prioritizing sustainability and environmental stewardship. Foam insulation manufacturers are responding by developing eco friendly and sustainable insulation solutions, including materials made from recycled or renewable sources.
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Government investments in infrastructure development projects, such as transportation networks, utilities, and public facilities, are driving the demand for foam insulation materials. The projects require high performance insulation solutions to enhance energy efficiency and durability.
The passive house construction concept, which emphasizes ultra energy efficient building design, is gaining traction worldwide. Foam insulation materials play a crucial role in achieving the rigorous energy performance standards of passive house construction, driving demand in this segment.
There is a growing emphasis on building resilience and mitigating damage, with the increasing frequency and severity of natural disasters such as hurricanes, floods, and wildfires. Foam insulation materials, particularly those with water resistance and durability properties, are sought after for their ability to help protect structures and maintain thermal performance during extreme weather events.
“Prefabricated and modular construction methods are gaining popularity due to their efficiency, cost effectiveness, and sustainability benefits. Foam insulation materials are integral components of prefabricated building elements and modular construction systems, driving demand in these segments,” comments Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Market Study
- Global foam insulation market was valued at US$ 30.4 Billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 7.6%.
- The market in Japan is expected to expand at a CAGR of 7.6% through 2034.
- By form, the rigid segment to account for a CAGR of 6.2% through 2034.
- The market in the United Kingdom is expected to expand at a CAGR of 6.9% through 2034.
- In terms of product types, the polyolefin foam segment to account for a market share of 6.0% in 2024.
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Competitive Landscape
Prominent players in the foam insulation market are
- BASF SE
- Covestro AG
- Lapolla Industries Inc
- Huntsman International LLC
- DowDuPont
- Safco Foam Insulation
- Cajun Foam Insulation
- Saint-Gobain
- EnergyGuard Foam Insulators
- Insulation Northwest
Company Portfolio
- Saint-Gobain is a multinational corporation specializing in the production of construction materials, including insulation products. In the foam insulation segment, Saint-Gobain offers a range of products such as polyurethane foam insulation boards, spray foam insulation, and other thermal insulation solutions for buildings and industrial applications. Their foam insulation products prioritize energy efficiency, environmental sustainability, and indoor comfort.
- Huntsman Corporation is a global manufacturer of chemical products used in various industries, including insulation and construction. In the foam insulation segment, Huntsman offers polyurethane and polyisocyanurate foam insulation materials for residential, commercial, and industrial applications. Their foam insulation products are known for their thermal performance, fire resistance, and durability.
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Segmentation Analysis of the Foam Insulation Market
By Form:
- Rigid
- Spray
- Flexible
By Product Types:
- Polyolefin Foam
- Polyurethane Foam
- Polystyrene Foam
- Elastomeric Foam
- Phenolic Foam
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore FMI's Extensive Coverage in the Chemical and Materials Domain:
The spray foam insulation market is projected to rise at a CAGR of 6.5% from 2022 to 2032, reaching US$ 3,560 million in 2032.
The cold insulation market is expected to grow at a CAGR of 8.1% during the period 2022 to 2032. The market is valued at US$ 6835.6 million as of 2022.
With the growing demand for acoustic insulations across various end-user industries, the market graph is likely to shoot up. The market is likely to garner US$ 26,550.8 million by 2033 while exhibiting a CAGR of 5.8% from 2023 to 2033.
In 2022, the global building thermal insulation market size is estimated to be worth US$ 29,034 Million. The market is expected to grow at a CAGR of 4.3% during the forecast period.
The global Flexible Colored PU Foams demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5% to be valued at US$ 8.8 Billion from 2022 to 2032.
The polyurethane coating market size is projected to increase from US$ 20.9 billion in 2024 to US$ 36.0 billion by 2034.
The polyurethane resins paints and coatings market is expected to be valued at US$ 52468.87 million by 2032, with a CAGR of 4.5%.
The polyurethane foam market was valued at US$ 49,340.3 Million in 2022, and from 2022 and 2032, it is expected to rise at a CAGR of 6.3%.
According to Future Market Insights research, during the projected period, the global polyurethane (PU) adhesives market is set to top a valuation of US$ 9.63 Billion in 2022, and further expand at a CAGR of 6.1% during 2022-2032.
The overall demand for polyunsaturated fatty acids is slated to grow at 5.4% CAGR between 2023 and 2033, totaling a valuation of US$ 9,717.8 million by 2033.
According to FMI, the global soft touch polyurethane coatings industry will be valued at US$ 17,429 million in 2033 and grow at a CAGR of 9% between 2023 and 2033.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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