Asia Pacific Increasing Dominance in Rigid Foam Insulation
Bangalore, India: With its recently published study “Rigid Foam Insulation Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022”, Infoholic Research forecasts that the global market for rigid foam insulation will continue to increase owing to the increased exposure of different end-user areas, such as building & construction, transportation etc., in the global economy. Rigid foam insulation is a kind of foam insulation that have cross-linked, cellular, closed-cell, thermoset plastic of low density. It has major uses in the construction sector via rigid foam panels that fit between walls of the structure. It helps to maintain the heat under the roof and provide a solution for noise pollution.
The increased usage of rigid foam insulation in advance infrastructure solutions is expanding its market in the global economy. Further, the increasing market penetration in developing countries would also increase the market potential giving boost to the market growth. This trend is expected to continue during the forecast period 2016–2022, to further improve the rigid foam insulation market at a CAGR 7.2%, and take it to $18.91 billion by 2022.
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Currently, 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. The dominance of Asia Pacific is expected to continue during the forecast period while the underdeveloped countries are expected to witness a higher penetration, thus boosting the rigid foam insulation market.
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.
“Rigid foam insulation is a closed cell foam structure having lightweight property that helps in the reduction of weight of the overall structure and easy installation. These properties of rigid foam make it useful in the fast-changing economy and enable them to grow rapidly. The growth in infrastructure along with the changing automotive industry shall drive the growth for the rigid foam insulation market in the coming years.”– Pooja Kumari, Research Analyst.
Buy complete report on Rigid Foam Insulation Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022
The key insights of the report are as follows:
- Global rigid foam insulation market has been analyzed based on materials
- Polyvinyl Chloride
- The study constitutes a classification based on application areas
- Thermal insulation
- Hybrid insulation
- Acoustic insulation
- The study constitutes a classification based on end-users
- Building & Construction
- Industrial Insulation
- Consumer Appliances
- Industry outlook: Market trends, drivers, restraints, and opportunities