Projected Surge: Foam Insulation Market Projections Point to US$ 60.7 Billion by 2034

 

The global foam insulation market is anticipated to reach a valuation of US$ 32.6 Billion in 2024, driven by expansion of cold chain logistics. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.4% between 2024 and 2034, and reaching a total valuation of approximately US$ 60.7 Billion by 2034.

There is a growing demand for foam insulation materials for soundproofing and acoustic insulation applications. There is a rising need to mitigate noise transmission in residential, commercial, and industrial buildings, as urbanization and noise pollution increase.

Consumers and businesses are increasingly prioritizing sustainability and environmental stewardship. Foam insulation manufacturers are responding by developing eco friendly and sustainable insulation solutions, including materials made from recycled or renewable sources.

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Government investments in infrastructure development projects, such as transportation networks, utilities, and public facilities, are driving the demand for foam insulation materials. The projects require high performance insulation solutions to enhance energy efficiency and durability.

The passive house construction concept, which emphasizes ultra energy efficient building design, is gaining traction worldwide. Foam insulation materials play a crucial role in achieving the rigorous energy performance standards of passive house construction, driving demand in this segment.

There is a growing emphasis on building resilience and mitigating damage, with the increasing frequency and severity of natural disasters such as hurricanes, floods, and wildfires. Foam insulation materials, particularly those with water resistance and durability properties, are sought after for their ability to help protect structures and maintain thermal performance during extreme weather events.

“Prefabricated and modular construction methods are gaining popularity due to their efficiency, cost effectiveness, and sustainability benefits. Foam insulation materials are integral components of prefabricated building elements and modular construction systems, driving demand in these segments,” - says FMI analyst.

Key Takeaways from the Market Study

  • Global foam insulation market was valued at US$ 30.4 Billion in 2023.
  • From 2019 to 2023, the market demand expanded at a CAGR of 7.6%.
  • The market in Japan is expected to expand at a CAGR of 7.6% through 2034.
  • By form, the rigid segment to account for a CAGR of 6.2% through 2034.
  • The market in the United Kingdom is expected to expand at a CAGR of 6.9% through 2034.
  • In terms of product types, the polyolefin foam segment to account for a market share of 6.0% in 2024.

Competitive Landscape

Prominent players in the foam insulation market are

  • BASF SE
  • Covestro AG
  • Lapolla Industries Inc
  • Huntsman International LLC
  • DowDuPont
  • Safco Foam Insulation
  • Cajun Foam Insulation
  • Saint-Gobain
  • EnergyGuard Foam Insulators
  • Insulation Northwest

Company Portfolio

  • Saint-Gobain is a multinational corporation specializing in the production of construction materials, including insulation products. In the foam insulation segment, Saint-Gobain offers a range of products such as polyurethane foam insulation boards, spray foam insulation, and other thermal insulation solutions for buildings and industrial applications. Their foam insulation products prioritize energy efficiency, environmental sustainability, and indoor comfort.
  • Huntsman Corporation is a global manufacturer of chemical products used in various industries, including insulation and construction. In the foam insulation segment, Huntsman offers polyurethane and polyisocyanurate foam insulation materials for residential, commercial, and industrial applications. Their foam insulation products are known for their thermal performance, fire resistance, and durability.

Segmentation Analysis of the Foam Insulation Market

By Form:

  • Rigid
  • Spray
  • Flexible

By Product Types:

  • Polyolefin Foam
  • Polyurethane Foam
  • Polystyrene Foam
  • Elastomeric Foam
  • Phenolic Foam
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East and Africa

 

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