Foam Insulation Market by End-use Industry (Building & Construction, Transportation, and Consumer Appliances)- Global Forecast to 2021

The foam insulation market size was 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 increasing demand for foam insulation from end-use industries, such as building & construction, transportation, and consumer appliances, is driving the foam insulation market.

Focus on the reduction of greenhouse gas emissions and strict government regulations on the construction of energy-efficient buildings are expected to drive the demand for foam insulation. The major restraining factor for the market is the lack of awareness about the benefits of foam insulation.

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Building & construction is the largest end-use industry for foam insulation

By end-use industry, the building & construction segment is estimated to account for the largest share of the global foam insulation market in 2016, in terms of both value and volume. This end-use industry is projected to drive the foam insulation market from 2016 to 2021 due to the rising concern related to greenhouse gas emissions and the growing demand for net-zero energy buildings in countries like Germany, U.K., France, and U.S. The various building codes for new residential and commercial construction in countries such as U.S., U.K., Germany, China, Japan, and South Korea are also expected to drive the demand for foam insulation.

Population growth and rapid urbanization in key countries, such as China and India, accompanied by the rising demand for consumer appliances have contributed to the growth of the foam insulation market in this region. Increasing investments in the region’s building & construction industry also help drive the demand for foam insulation. Besides, major market players, such as Covestro AG (Germany), BASF SE (Germany), Saint-Gobain (France), and Huntsman Corporation (U.S.), are setting up manufacturing plants in the Asia-Pacific region due to the availability of cheap labor and low production cost.

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Leading Market Leader - Foam Insulation Market | Global Forecast to 2021

The global foam insulation market is projected to grow at a CAGR of 4.95% from 2016 to 2021, in terms of value. The market is rapidly evolving with the major players contributing towards its development. Kingspan Group Plc. (Republic of Ireland), BASF SE (Germany), and Armacell International S.A. (Luxembourg) are some of the major players that led the market in 2015.

Expansion, acquisition, and new product launch were the key strategies adopted by major foam insulation manufacturers in the recent past. These strategies were adopted by the top players to strengthen their position in the market and to enhance their product portfolios.

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Kingspan Group Plc., BASF SE, and Armacell International S.A. accounted for the major share of the foam insulation market. These companies focused on acquisition and expansion strategies to strengthen their position in the foam insulation market. For instance, Kingspan Group Plc. acquired the Building Insulation Division of Pactiv LLC (U.S.) in August 2014. This acquisition helped the company strengthen its insulation business in North America to meet the growing demand for foam insulation products in the region.

BASF SE, a key player in the foam insulation market, focuses on new product launches to cater to the demand from end-use industries. In 2015, the company launched Styrodur 3000CS and Neopor. These products offer 15% and 20% better insulation, respectively, than the conventional insulation panels used in the building & construction end-use industry. The company is also focusing on expansion and acquisition strategies to meet the growing demand for foam insulation products from various end-use industries.

Armacell International S.A., another major market player, focuses on acquisitions and expansions to cater to the growing demand in the market. In October 2016, the company acquired PoliPex Ltda (Brazil), which helped strengthen its product portfolio in Latin America. The company also opened a production facility in Lobnya (Russia) in January 2016. This expansion has helped the company enhance its market position in the European region.

Leading market players have adopted different growth strategies to gain a competitive advantage in the market. The Asia-Pacific region leads the global foam insulation market due to the increasing demand for consumer appliances in the region, accompanied by the growing building & construction industry. Increasing population, urbanization, and the growing middle class with higher income are also factors driving the demand for foam insulation in the region.

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Foam Insulation Market worth 22.39 Billion USD by 2021

The report “Foam Insulation Market by Product Type (Polystyrene, Polyurethane & Polyisocyanurate, Polyolefin, Elastomeric, and Phenolic), End-use Industry (Building & Construction, Transportation, and Consumer Appliances), and Region – Global Forecast to 2021″, The foam insulation market size was 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 increasing demand for foam insulation from end-use industries, such as building & construction, transportation, and consumer appliances, is driving the foam insulation market.

Browse 106 market data tables and 42 figures spread through 136 pages and in-depth TOC on “Foam Insulation Market”
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Building & construction is the largest end-use industry for foam insulation

By end-use industry, the building & construction segment is estimated to account for the largest share of the global foam insulation market in 2016, in terms of both value and volume. This end-use industry is projected to drive the foam insulation market from 2016 to 2021 due to the rising concern related to greenhouse gas emissions and the growing demand for net-zero energy buildings in countries like Germany, U.K., France, and U.S. The various building codes for new residential and commercial construction in countries such as U.S., U.K., Germany, China, Japan, and South Korea are also expected to drive the demand for foam insulation.

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Polystyrene segment accounted for the largest share of the foam insulation market in 2016

By product type, the polystyrene foam segment led the global foam insulation market in 2016. This is due to the rising demand for lightweight and high R-value insulation products for applications, such as exterior insulation; concrete insulation; and roof, floor, and walls & ceiling insulation, in the building & construction industry. The demand for polystyrene foam is also fueled by its rising usage in various consumer appliances, such as refrigerators and air-conditioners.

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Asia-Pacific is the biggest market for foam insulation

The Asia-Pacific region is estimated to account for the largest share of the global foam insulation market in 2016, in terms of value. Growing population and rapid industrialization in China, India, Indonesia, and Japan, accompanied by the rising demand for consumer appliances, contribute to the growth of the foam insulation market in this region. Stringent governmental regulations regarding the reduction of greenhouse gas emissions, also help drive the demand for foam insulation in this region.

The key market players 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.).

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