Foam Insulation Market 2018-2023 | Global Key Player; BASF SE, Covestro AG, Lapolla Industries, Inc., Huntsman International LLC., DowDuPont Inc., SAFCO Foam Insulation, CAJUN FOAM INSULATION., SAINT-GOBAIN, EnergyGuard Foam Insulators, LP, Insulation Nor

Foam Insulation – Market Overview:

Foam insulation is used to reduce the rate of heat transfer and air infiltration. It is categorized based on the polymer or base material used such as polystyrene foam, polyurethane, polyisocyanurate foam, polyolefin foam, phenolic foam, elastomeric foam. Foam insulation is used in vast applications in various end-user industries such as building & construction, transportation, packaging, consumer electronics, and others.

According to the U.S. Department of Energy, building accounts for approximately 40% of the total energy consumed in the U.S. The majority of building energy use is spent on space heating and cooling, and a large fraction of heat is lost through the building envelope due to air leakages. Foam insulation can minimize the energy consumption by reducing air leakage present on external walls, window frames, door frames, roof underlays, attics, crawlspaces, and floorings among other, which can result in lower utility bills and thus reduce greenhouse gas emissions. Additionally, indoor air quality can be improved by blocking the infiltration of dust and allergens through small cavities & crevices. It also improves building’s strength by preventing the accumulation of moisture in the walls and thus reduces condensation and mold growth. Furthermore, foam insulation is also widely consumed in the transportation industry for both OEM, structural strengthening, and repair of vehicles such as reefer trailers, passenger vehicles, emergency response vehicles, buses, and aircraft. However, the consumer appliances segment is also expected to witness a significant growth due to the growing demand for appliances, such as freezers, refrigerators, and air conditioners among others.

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Growing consumption from building & construction industry to meet building codes and green building certification such as the U.S. Green Building Council for Homes (LEED-H), LEED for commercial buildings, and the U.S. Environmental Protection Agency’s ENERGY STAR rating is expected to majorly drive the global foam insulation market in OCED countries over the forecast period. Furthermore, government initiatives such as Weatherization Assistance Program (WAP) to promote thermal insulation in low-income households are likely to boost the market growth in North America region during the forecast period.

However, the high cost of foam insulations compared to loose-fill insulations is likely to restrict the market growth over the forecast period. Furthermore, lack of awareness about the benefits it offers is likely to restrain the growth of the global foam insulation market to some extent over the forecast period.
The global foam insulation market is segmented by product type, end-use industry, and region.

On the basis of the product type, the global foam insulation market is segmented into the polyurethane (PU) foam, polystyrene foam, polyolefin foam, phenolic foam, elastomeric foam, and others. The polyurethane foam insulation is further segmented into spray polyurethane foam (SPF), flexible PU foam, and rigid PU foam. Polystyrene foam insulation is further segmented into expanded polystyrene foam and extruded polystyrene foam. The polyurethane foam insulation accounted for the largest share of the global foam insulation market in 2017 due to their several advantages over other types of foam insulations such as its good thermal insulating properties, low moisture-vapor permeability, high resistance to water absorption, relatively high mechanical strength, low density, easy installation, and low cost. SPF insulations held the major market share in 2017 under polyurethane foam insulation category due to their easy application and performance efficiency and are expected to exhibit a significant demand over the forecast period. However, extruded polystyrene foam insulation is expected to showcase rising growth over the forecast period owing to its high R-value retention over the long period of time.

On the basis of end-user industry, the global foam insulation market is segmented into building & construction, transportation, consumer electronics, and others. Building & construction industry accounted for the largest share of the global foam insulation market in 2017 due to the strong demand for thermal insulations in OCED countries to meet the building codes as well as in emerging economies.

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Competitive Analysis

Some of the prominent players in the global foam insulation market are BASF SE (Germany), Covestro AG (Germany), Lapolla Industries, Inc. (U.S.), Huntsman International LLC (U.S.), DowDuPont Inc. (U.S.), SAFCO Foam Insulation (U.S.), CAJUN FOAM INSULATION. (U.S.), SAINT-GOBAIN (France), EnergyGuard Foam Insulators, LP (U.S.), Insulation Northwest (U.S.), PUFF INC (U.S.), Pittsburgh Foam Insulation (U.S.), Owens Corning Commercial Insulation. (U.S.), Recticel NV/SA (Belgium), Armacell International S.A. (Luxembourg), and Johns Manville. (U.S.).

Intended Audience

• Foam insulation manufacturers
• Traders and distributors of foam insulation
• Research and development institutes
• Potential investors
• Raw material suppliers
• Nationalized laboratory

Regional Analysis

The global foam insulation market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America is expected to be the largest market for foam insulations, followed by Europe. Asia Pacific is expected to be the fastest growing market for foam insulations and is expected to show an exponential growth over the forecast period. The Middle East & Africa and Latin America are also expected to exhibit rising demand for foam insulation from the growing construction industry over the forecast period.

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