Foam insulation is used to reduce the
rate of heat transfer and air infiltration. It is categorized based on the
polymer or base material used such as polystyrene foam, polyurethane,
polyisocyanurate foam, polyolefin foam, phenolic foam, elastomeric foam. Foam
insulation is used in vast applications in various end-user industries such as
building & construction, transportation, packaging, consumer electronics,
and others.
According to the U.S. Department of
Energy, building accounts for approximately 40% of the total energy consumed in
the U.S. The majority of building energy use is spent on space heating and
cooling, and a large fraction of heat is lost through the building envelope due
to air leakages. Foam insulation can minimize the energy consumption by
reducing air leakage present on external walls, window frames, door frames,
roof underlays, attics, crawlspaces, and floorings among other, which can
result in lower utility bills and thus reduce greenhouse gas emissions.
Additionally, indoor air quality can be improved by blocking the infiltration
of dust and allergens through small cavities & crevices. It also improves
building’s strength by preventing the accumulation of moisture in the walls and
thus reduces condensation and mold growth. Furthermore, foam insulation is also
widely consumed in the transportation industry for both OEM, structural
strengthening, and repair of vehicles such as reefer trailers, passenger
vehicles, emergency response vehicles, buses, and aircraft. However, the
consumer appliances segment is also expected to witness a significant growth
due to the growing demand for appliances, such as freezers, refrigerators, and
air conditioners among others.
Growing consumption from building &
construction industry to meet building codes and green building certification
such as the U.S. Green Building Council for Homes (LEED-H), LEED for commercial
buildings, and the U.S. Environmental Protection Agency’s ENERGY STAR rating is
expected to majorly drive the global foam insulation market in OCED countries
over the forecast period. Furthermore, government initiatives such as
Weatherization Assistance Program (WAP) to promote thermal insulation in
low-income households are likely to boost the market growth in North America
region during the forecast period.
However, the high cost of foam
insulations compared to loose-fill insulations is likely to restrict the market
growth over the forecast period. Furthermore, lack of awareness about the
benefits it offers is likely to restrain the growth of the global foam
insulation market to some extent over the forecast period.
The
global foam insulation market is segmented by product type, end-use industry,
and region. On the basis
of the product type, the global foam insulation market is segmented into the
polyurethane (PU) foam, polystyrene foam, polyolefin foam, phenolic foam,
elastomeric foam, and others. The polyurethane foam insulation 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. The polyurethane foam
insulation accounted for the largest share of the global foam insulation market
in 2017 due to their several advantages over other types of foam insulations
such as its good thermal insulating properties, low moisture-vapor
permeability, high resistance to water absorption, relatively high mechanical
strength, low density, easy installation, and low cost. SPF insulations held
the major market share in 2017 under polyurethane foam insulation category due
to their easy application and performance efficiency and are expected to
exhibit a significant demand over the forecast period. However, extruded
polystyrene foam insulation is expected to showcase rising growth over the
forecast period owing to its high R-value retention over the long period of
time.
On the basis of end-user industry, the
global foam insulation market is segmented into building & construction,
transportation, consumer electronics, and others. Building & construction
industry accounted for the largest share of the global foam insulation market
in 2017 due to the strong demand for thermal insulations in OCED countries to
meet the building codes as well as in emerging economies.
Competitive AnalysisSome of the
prominent players in the global foam insulation market are BASF SE (Germany),
Covestro AG (Germany), Lapolla Industries, Inc. (U.S.), Huntsman International
LLC (U.S.), DowDuPont Inc. (U.S.), SAFCO Foam Insulation (U.S.), CAJUN FOAM
INSULATION. (U.S.), SAINT-GOBAIN (France), EnergyGuard Foam Insulators, LP
(U.S.), Insulation Northwest (U.S.), PUFF INC (U.S.), Pittsburgh Foam
Insulation (U.S.), Owens Corning Commercial Insulation. (U.S.), Recticel NV/SA
(Belgium), Armacell International S.A. (Luxembourg), and Johns Manville.
(U.S.).
Intended Audience
- Foam insulation manufacturers
- Traders and distributors of foam insulation
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Regional Analysis The global
foam insulation market is spanned across five regions namely Asia Pacific,
North America, Europe, Latin America, and the Middle East and Africa.
North America is expected to be the largest market for foam insulations,
followed by Europe. Asia Pacific is expected to be the fastest growing market
for foam insulations and is expected to show an exponential growth over the
forecast period. The Middle East & Africa and Latin America are also
expected to exhibit rising demand for foam insulation from the growing
construction industry over the forecast period.
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