Foam Insulation Market by 2030 covers Price, Upcoming Trends Segmentation, Opportunities and Forecast
Market Research Future (MRFR) has announced a new release on the global foam insulation market. The report presents a detailed analysis of the growth prospects of the global foam insulation market over the forecast period from 2023 to 2030 based on a study of the market’s historical growth trajectory and key drivers and restraints.
Foam insulation is majorly used in construction, packaging, and transportation applications to impart thermal insulation. Foam insulation doesn’t allow air to pass through and thus serves as an excellent thermal insulator. In construction, foam insulation is being used in increasing amounts, as temperature regulation and energy conservation within individual buildings has become a key point for the construction industry. A major portion of the total energy consumption of a building goes towards heating and cooling, which represents a significant burden on the overall energy generation network. The use of foam insulation reduces the need for external heating or cooling, as it helps trap warm air within the house in winters and keep the cold air out, and vice versa. The use of foam insulation allows for significant savings on HVAC, as the need for HVAC devices is reduced in the first place.
The growing construction industry is likely to be the major driver for the global Foam Insulation Market over the forecast period. The construction industry is making widespread use of foam insulation at present, as government regulations on energy conservation have made it profitable to do so. The growing populist demand for energy-neutral or ‘zero-emission’ homes has also played into the growing demand for foam insulation from the construction industry. The consumer electronics industry could also emerge as a major consumer of foam insulation over the forecast period, as the demand for appliances such as air conditioners and refrigerators is likely to grow over the coming years.
On the other hand, the potential implications of the use of spray foam insulation on the building’s occupants’ health are likely to hinder the growth of the global foam insulation market over the forecast period.
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Segmentation:
The global foam insulation market is segmented by product type, end-use industry, and region.
On the basis of product type, the global foam insulation market is segmented into polyurethane (PU) foam, polystyrene foam, polyolefin foam, phenolic foam, elastomeric foam, and others. The polyurethane foam insulation segment is further segmented into spray polyurethane foam (SPF), flexible PU foam, and rigid PU foam. Polystyrene foam insulation is further segmented into expanded polystyrene foam and extruded polystyrene foam. Polyurethane foam is likely to be the major product segment in the global foam insulation market over the forecast period, followed by polystyrene.
On the basis of end-user industry, the global foam insulation market is segmented into building & construction, transportation, consumer electronics, and others.
Regional Analysis:
The global foam insulation market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa on the basis of region.
North America held the major share in the global Foam Insulation Market Company Revenue Analysis in 2023 and is likely to remain the dominant regional segment of the global market over the forecast period. Growing demand from the building & construction industry is likely to be vital for the foam insulation market in North America, as energy conservation in homes has become a strong agenda for the construction industry in North America and many private homeowners have been quick to install foam insulation and other measures to reduce their environmental impact on a personal level. The transportation industry in North America is also likely to be a major consumer for the foam insulation market, as the weather in North American countries such as the U.S. and Canada can often be cold, increasing the need for measures such as foam insulation.
Europe is likely to follow North America in the global ranking over the forecast period, with Asia Pacific exhibiting the fastest growth due to the growing construction, transportation, and consumer electronics industries.
Competitive Analysis:
Leading players in the global foam insulation market include BASF SE, Lapolla Industries Inc., DowDuPont Inc., Cajun Foam Insulation, EnergyGuard Foam Insulators LP, PUFF Inc., Owens Corning Commercial Insulation, Armacell International SA, Johns Manville, Recticel NV/SA, Pittsburgh Foam Insulation, Insulation Northwest, Saint-Gobain, SAFCO Foam Insulation, Huntsman International LLC, and Covestro AG.
Industry Updates:
In Feb 2019, Carlisle Companies Inc. announced a rebranding of Accella Performance Materials’ spray foam business unit as Carlisle Spray Foam Insulation. The company had acquired Accella Performance Materials in November 2017.
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