In the coming days, the growth of the Polyisocyanurate Insulation market is shocking | Industry Key Players - Saint-Gobain, Kingspan Group plc., Honeywell International Inc., Johns Manville Corporation

Polyisocyanurate insulation is a closed-cell foam insulation more often used for roof and wall assemblies in residential and commercial sectors. It is formed by the combination of two basic liquid chemicals, isocyanurate and polyol in the presence of a catalyst, a blowing agent, flame retardants and possibly other agents. The output generated may provide the highest thermal insulating values among other insulating materials used commercially. Polyisocyanurate insulation can be used as acoustic, thermal & hybrid insulation, which is further adopted in different end uses.

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Leading suppliers are preferring polyisocyanurate insulation as an effective insulation solutions. The need for advanced insulation solutions in walls & roofs of new construction structures further creates demand space for polyisocyanurate insulation.

The availability of low-cost alternatives for polyisocyanurate insulation in the market may prove to be a challenge as it deters polyisocyanurate insulation adoption in certain end uses. The polyisocyanurate insulation market is expected to create an incremental $ opportunity of nearly 8,495.4 Mn during the forecast period, while expanding with a CAGR of 5.8%.

Numerous factors are associated with the collective growth of the polyisocyanurate insulation market. Polyisocyanurate insulation is one of the most adopted products as compared to any other insulation product used in the construction industry. It offers the highest R-value per inch (R value signifies resistance to heat flow), which is suitable to show enhanced efficacy in freezing temperatures. Polyisocyanurate is cost effective in terms of installation & also exhibits exceptional performance in fire tests. Polyisocyanurate insulation is comes with pair of foils on either side, foil acts as a vapor barrier & enables the gas trapping inside the insulation. Also, polyisocyanurate insulation has very low environmental effects as its uses CFC, HCFC, HFC free blowing agent in addition with zero ozone depletion potential. Attributing to these properties, polyisocyanurate insulation exhibits long service life when compared with other insulation materials and thus, is emerging as the preferred material in thermal & acoustic insulation applications.

On the other hand rising commercial & residential infrastructure across the globe creating numerous opportunities for Polyisocyanurate insulation manufacturers & distributors present in the value chain. Mounting implementation of Polyisocyanurate insulation in residential or home building is one of the prime factor fueling the demand for Polyisocyanurate Insulation consequently contributing to the market growth. Resurgence of construction industry in Europe & North America construction industry is creating new horizons for Polyisocyanurate insulation material to grow. The steady growth in the population of the county’s cites in NA & Western Europe and growing demand for construction materials for both residential and non-residential buildings. Emerging countries & economies are coming up various new infrastructure projects such as the development of new airports, offices, shopping malls, freeways to name a few is creating demand for Polyisocyanurate insulation in the commercial marketplace.

Also,Insulation in transportation industry is projected to register significant growth, driven by the critical nature of insulation in safeguarding system performance in this industry, stringent energy efficiency norms, and surging demand for high temperature insulation materials. The United States represents the largest market worldwide, followed by Europe. The growing demand for thermal insulation materials that aid in minimizing energy consumption and maximizing energy efficiency of industrial systems and processes and stringent energy efficiency regulations represent primary growth drivers for Polyisocyanurate insulation across the globe

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The global polyisocyanurate market can be segmented on the basis of type, application, end user and region. On the basis of type, the global polyisocyanurate insulation market has been segmented into liquid spray and rigid foam/board. On the basis of application, the polyisocyanurate Insulation market has been further segmented into acoustic, thermal and hybrid. Lastly, on the basis of end user, the polyisocyanurate insulation market has been segmented into construction & building, transport, consumer appliances and others.

On the basis of region, the global polyisocyanurate Insulation market has been segmented as North America, Latin America, Eastern Europe, Western Europe, SEA&P (South East Asia & Pacific) and Pacific, China, Japan and the Middle East and Africa (MEA).

On the basis of type, the polyisocyanurate insulation market is expected to be dominated by the spray type segment, closely followed by the rigid foam/board type segment. Attributing to its ease of application in building & construction units, spray type polyisocyanurate insulation is witnessing higher adoption in the commercial marketplace.

The spray type segment is expected to grow at a noteworthy CAGR (1.6X of overall expected market growth rate) over the forecast period, owing to the utilization of spray type polyisocyanurate insulation in the building & construction industry. The other segments are expected to grow at a moderate pace during the forecast period with regular inflow of demand from end-use applications. Despite registering marginal – low growth as compared to the spray type segment, the rigid foam segment is expected to remain dominant and create the maximum $ opportunity over the forecast period.

On the basis of application, the thermal insulation segment is projected to witness robust growth in the global polyisocyanurate insulation market. The demand for thermal insulation is likely to be generated from the provinces & regions vulnerable to extreme winter conditions such as Western Europe, Eastern Europe & North American countries. In order to keep the environment comfortable inside residential units in these regions, thermal insulation is used, which further creates demand space for polyisocyanurate insulation solutions. The next prominent application for polyisocyanurate insulation is hybrid insulation, which is growing at a noteworthy CAGR and is estimated to generate a significant incremental opportunity as compared to the acoustic insulation type segment.

In terms of application, the business & construction segment is projected to hold a dominant share & remain the fastest growing end use segment throughout the forecast period. Increasing residential construction activities across the globe are expected to create significant opportunities for polyisocyanurate insulation suppliers & manufacturers. The building & construction segment is expected grow twofold during the forecasted period. The usage of polyisocyanurate insulation in roofs in building & construction is expected to create an incremental $ opportunity of US$ 3,995.4 Mn during 2018-2028. The building & construction segment is estimated to grow with a CAGR of 6.5% while the transport & consumer appliances segment is expected to grow with a notable CAGR over the forecast period.

From a regional perspective, North America & Western Europe are projected to dominate the global polyisocyanurate insulation market throughout the forecast period. The production base in these regions accommodates a number of leading manufacturers and attributing to their presence, North America & Western Europe are the major suppliers of polyisocyanurate insulation to various countries globally. Collectively, these two regions entertain a market value share close to 45%. Of the various countries in Asia, India is expected to witness the highest growth with significant growth opportunities in the latter half of the forecast period. India and South East Asia are considered to be emerging markets with a combined growth rate twice that of the overall expected market growth. China holds the maximum market share in Eastern markets & also provides numerous growth opportunities for polyisocyanurate manufacturers, suppliers and distributors present in the value chain. The main reason implicit behind China’s predominance as the most attractive region is its attractive foreign investment policies, low labor cost, government support & ease of doing business opportunities. On the other hand, Latin America and MEA are projected to remain low volume – high growth regions in the global polyisocyanurate insulation market over the forecast period

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Some of the key players reported in this study of the polyisocyanurate insulation market include DowDuPont Inc., Owens Corning Insulating Systems, LLC, Saint-Gobain, Kingspan Group plc., Honeywell International Inc., Johns Manville Corporation, Stepan Company, IKO Industries Ltd., Soprema Group, Knauf Insulation, Atlas Roofing Corporation, Rmax Operating LLC, GAF Materials Corporation, Carlisle SynTec Systems and Hunter Panels.

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