About Foam Insulation
Foam insulation, typically a low-density elastomer, polymer in the form of a thermal insulating foam that offers a thermal barrier around a component or between interior space and heat or cold source. The Rising demand from the automotive and construction sector has led to the growth of the foam insulation market. Moreover, the growing demand for polyisocyanurate foam and phenolic foam for insulation of auto components and parts will add to the demand for foam insulation from the automotive industry in the upcoming years.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 5.1% |
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Foam Insulation market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), Covestro AG (Germany), Huntsman International LLC (United States), Kingspan Group PLC (Ireland), Lapolla Industries, Inc. (United States), Owens Corning (United States), Recticel Group (Belgium), Saint-Gobain (France), DowDuPont (United States), Armacell International S.A. (Luxembourg) and Johns Manville (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Foam Insulation market by Type (Closed Cellular Foams, Open Cellular Foams and Others) and Region.
On the basis of geography, the market of Foam Insulation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material Type, the sub-segment i.e. Polystyrene will boost the Foam Insulation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Aerospace and Aircraft will boost the Foam Insulation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Deployment of Foam Insulation in Modern Building, Renovations, and Retrofits and Several Developed Countries Government Authorities Supports Energy Efficient Products in Government Construction Projects
Market Growth Drivers:
Increasing Demand for Energy-Efficient Equipment Worldwide and The Growth in Number of Potential Homeowners across the World Opting for High-Performing Environment-Friendly Technologies
Challenges:
Stringent Regulations Regarding the Usage of Specific Products and Price Fluctuation Crude Oil
Restraints:
Low Adoption Rate in Developing Economies
Opportunities:
Increasing Urbanization and Industrialization along with Rising in Disposable Income in Emerging Countries and The Growth in Investment in Research and Development by Key Players
Market Leaders and their expansionary development strategies
In December 2023, Owens Corning and CertainTeed partnered with Habitat for Humanity on energy efficiency projects. This collaboration focuses on providing low-income families with access to energy-efficient homes, potentially increasing the demand for foam insulation products.
In January 2024, Dow announces the launch of its new ENLITE EXPANCEL rigid polyurethane foam insulation. This product boasts improved fire resistance and is targeted towards applications in the transportation and construction industries.
According to the International Building Code (IBC 2603.4) and the International Residential Code (IRC R316.4), all foam plastic insulation must be separated from the interior of the building by an approved 15-minute thermal barrier, such as ½-inch gypsum wallboard or equivalent material.
Key Target Audience
Government Bodies, Feedstock Suppliers, Industry Associations, Infrastructure Companies, End-use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.