Asia Pacific is Continuing Dominance in Global Flexible Foam Insulation Market
Bangalore, India: With its recently published study “Flexible Foam Insulation Market: Global Drivers, Restraints, Opportunities, Trends & Forecasts up to 2022”, Infoholic forecasts that the global market for flexible foam insulation will continue to experience an upward growth curve owing to the increasing application areas in the underdeveloped and developing countries. Flexible foam insulation, a type of foam insulation, has an open-cell structure that makes it light weight, thereby reducing the overall weight of the structure. Flexible foam insulation is mainly used in the building sector via spray foam insulation techniques. Acoustic and thermal insulation are the key application areas where flexible foam insulation is used.
It has been majorly used in the building and construction segments due to its unique noise absorption and heat resistivity properties. The increased usage of flexible foam insulation in advanced infrastructure solutions will expand its market in both developed and developing countries. Further, the increased penetration in developing countries will also increase the market growth potential. This growth trend is expected to continue during the forecast period with the market growing at a CAGR of 5.0%.
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Asia Pacific dominates the Flexible Foam Insulation Market, followed by Europe and North America. The large population, strong manufacturing base and the relatively extreme climatic conditions are the key parameters that make Asia Pacific a leader in the Flexible Foam Insulation Market. The dominance of Asia Pacific is expected to continue during the forecast period and underdeveloped countries are expected to witness a higher penetration rate, thereby boosting market growth.
The thermal insulation application segment contributed the most towards the overall market revenue while overlapping utilization with other insulations captured the next significant market share for hybrid insulation. Acoustic insulation is relatively a smaller market, although the adaptation is expected to increase exponentially over the years, generating much higher revenues for flexible foam insulation in future.
“Flexible foam insulation, a type of foam insulation, has open-cell structured foams used in it. They are light weight, thus reducing the overall weight of the structure and are easy to install. This makes them useful in the fast-changing structures and enables them to grow rapidly. The growth in infrastructure and the automotive market will be a key growth propellant in the coming years, especially in the developing regions where demand for flexible foam insulation is high.” – Pooja Kumari, Research Analyst.
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Key insights of the report:
- Global flexible foam insulation market has been analyzed based on the following application areas:
- Acoustic insulation
- Thermal insulation
- Hybrid insulation
- The study involves the following end-users:
- Building & Construction
- Consumer appliances
- Industry outlook: Market trends, drivers, restraints, and opportunities