Description
Rigid foam insulation is one kind of foam insulation, which has closed cell foam structure. It reduces the weight of the structure and provides cost benefits to the overall construction. It has major usage in the building and construction sector. Thermal insulation followed by hybrid insulation is key application areas, which utilize the benefits of better properties offered by rigid foam panels. Rigid foam insulation is used as part of advanced infrastructure solutions in buildings owing to their superior properties to insulate from noise and heat. Moreover, with increasing awareness of environmental issues, there is a growing demand for sustainable building materials. Rigid foam insulation, especially products with low global warming potential (GWP) and environmentally friendly blowing agents, aligns with sustainability goals which propels the present market growth. In contrary, the rigid foam insulation material can be more expensive compared to some traditional insulation option which is one of the restraining factors in the market. The Rigid Foam Insulation Market is projected to grow at a rate of 5.4% CAGR by 2028.
Rigid Foam Insulation Market by Materials:
• Polyurethane
• Polystyrene
• Polyethylene
• Polypropylene
• Polyvinyl Chloride
Rigid Foam Insulation Market by Applications:
• Thermal insulation
• Hybrid insulation
• Acoustic insulation
Rigid Foam Insulation Market by End-user:
• Building & Construction
• Transportation
• Consumer Appliances
• Industrial Insulation
• Others
Rigid Foam Insulation Market by Geography:
• North America
• Europe
• Asia Pacific
• Rest of the World
The polystyrene foam segment revenue accounted for highest revenue share in the market based on materials. Moreover, it is projected that the polyethylene sector would expand the value of the global market over the estimated period. This is majorly due to its usage & cost-friendliness in commercial are well as household against cold weather.
The thermal insulation segment of the rigid foam insulation market, being the oldest insulation usage area, has a higher market share than hybrid and acoustic insulation with most of the demand volume coming from buildings and automotive. The increased demand for acoustic insulation and dual utilization of same foam has led to the rapid growth or segmental growth of hybrid insulation. Dedicated acoustic insulation has relatively smaller market portion, although the adoption is expected to increase exponentially over the years, generating much higher revenues for rigid foam insulation in the future.
The rigid foam insulation has the major usage in the building and construction sector since this segment has highest growth. Since, it can be found on the inside or outside of a structure based on its function. For instance, it may offer an insulated barrier between two rooms to minimize heat loss from one side to another (an interior partition). Or it may act as a vapor barrier which avoids moisture damage by restricting moisture penetration into the house envelope. Building insulation is also deployed for noise control.
The Asia Pacific dominates the market in rigid foam insulation owing to the growing economy and the increasing infrastructure demand. The region is followed by North America and Europe, which have the advantage of developed economy and social awareness among the people. Key parameters for the dominance of Asia Pacific in the rigid foam insulation market are the large population base and the increasing manufacturing basis in relatively extreme climatic conditions.
In addition, the global trend toward energy-efficient and sustainable building practices is driving the market for global rigid foam insulation. Governments and organizations across the world were increasingly promoting green building initiatives to reduce carbon emissions and energy consumption.
This report offers the various leading profiles of market players - PolyOne Corporation, DowDuPont, K-Flex, BASF, Covestro AG and Huntsman International LLC.
Henceforth, the rigid foam insulation market continues to grow as energy efficiency and sustainability become crucial aspects of modern building design and construction. The versatility, thermal performance, and fire resistance of rigid foam insulation make it an essential material in addressing energy-related challenges and improving overall building performance.
• This report includes the complete analysis of the market growth factors, impeding factors and also opportunities and challenges in the market.
• This report depicts the major regions of the rigid foam insulation market and the significant share of the regions.
• This report also elucidates the market competitive outlook in terms of key market player’s profiles.
• The report also entails the information of market players about their productive strategies, products portfolio and new developments in the products.