“Growing construction and transportation industries to drive the foam insulation market”
The foam insulation market was valued at USD 17.58 billion in 2016 and is projected to reach USD 22.39 billion by 2021, at a CAGR of 4.95% from 2016 to 2021. The foam insulation market is mainly driven by the growing construction and transportation end-use industries. The growth of the construction industry is attributed to increasing population and rapid industrialization in developing countries, such as India, China, Russia, South Africa, Indonesia, and Brazil, among others. Whereas, the demand for foam insulation in the transportation industry is driven by the increasing demand for perishable food items, where foam insulation is used in refrigerated containers for the transportation of temperature-sensitive food items.
“The elastomeric segment is estimated to be the second-fastest growing product type segment, in terms of volume, from 2016 to 2021”
Elastomeric foam exhibits properties such as low thermal conductivity and high resistance to water vapor transmission, and is fire resistant in nature. Elastomeric foam is manufactured without using chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), or hydrofluorocarbons (HFCs), which makes them environmentally friendly. The demand for elastomeric foam is increasing due to its increasing use in various applications, such as refrigeration piping, HVAC components, interior & exterior duct systems, and chillers, among others.
“Europe to lead the market during the forecast period in terms of value”
The growing demand for green energy buildings in the European region is driving the market for foam insulation in the region. The rising concern for greenhouse gas emissions and the various stringent building codes for construction of new residential and commercial buildings in the region have also led to the high demand for foam insulation in the building and construction end-use industry. Germany accounted for the largest share of the European foam insulation market, followed by France, Italy, and the U.K.
In the process of determining and verifying the market size for the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
• By Company Type: Tier 1 (31%), Tier 2 (46%), and Tier 3 (23%)
• By Designation: C-level (46%), Director Level (27%), and Others (27%)
• By Region: Asia-Pacific (60%), North America (25%), Europe (10%), South America (4%), and Middle East & Africa (1%)
The key players profiled in the report include BASF SE (Germany), Covestro AG (Germany), Huntsman International LLC (U.S.), Kingspan Group PLC (Republic of Ireland), Lapolla Industries, Inc. (U.S.), Owens Corning (U.S.), Recticel Group (Belgium), Saint-Gobain (France), the Dow Chemical Company (U.S.), Armacell International S.A. (Luxembourg), and Johns Manville (U.S.).
This report segments the market for foam insulation into product type, end-use industry, and region, and provides the estimations for the overall value of the market and the subsegments across various regions. A detailed analysis of the key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, acquisitions, agreements, joint ventures, and recent developments associated with the market for foam insulation.
Reasons to buy this report:
This research report focuses on various levels of analyses—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the foam insulation market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on foam insulation products offered by the top players in the global foam insulation market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the foam insulation market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for foam insulation across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global foam insulation market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the foam insulation market