The foam insulation market is projected to reach USD 22.39 Billion by 2021, at a CAGR of 4.95% from 2016 to 2021. The market is driven by the increased demand from end-use industries, such as building & construction, transportation, and consumer appliances.
Seattle, WA -- (SBWIRE) -- 04/28/2017 -- 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.
Browse 106 market data tables and 42 figures spread through 136 pages and in-depth TOC on "Foam Insulation Market - Global Forecast to 2021"
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The increasing demand for foam insulation from end-use industries, such as building & construction, transportation, and consumer appliances, is driving the foam insulation market.
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.
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.
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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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