Press release
Radiant Barrier Market to Witness Robust Expansion by 2026
The global Radiant Barrier market is anticipated to be driven by many factors, out of which the main factor being global warming. The product is finding good acceptance as people use radiant barriers in their homes and buildings so that the heat is prevented from coming inside, making the place comparatively cooler. Radiant barriers are most effective in blocking summer radiant heat gain thus, saving air-cooling costs of the desired space. Also, use of radiant barrier has been helpful for the builders in getting accreditation for Leadership in Energy and Environmental Design (LEED), which is a mandatory norm for design of buildings – in both residential and commercial segments, thus resulting in increase of demand of the product. However, global radiant barrier has some restraints as the product installation involves a high cost owing to additional support materials, making it less preferred than other heat insulating materials. Also radiant barrier may result in an electrical safety risk where the foil comes in contact with defective electrical wiring.
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The global radiant barrier market is segmented on the basis of product types which includes foil or foil laminates, foil-faced polyurethane or foil-faced polysiocyanurate panels, foil-faced polystyrene, foil-backed bubble pack and light-colored roof shingles and reflective paints.
On the basis of materials used, the global radiant barrier is divided into aluminum foil laminates, aluminized plastic films, wood, glass, plaster and others.
On the basis of application, the global radiant barrier is divided into residential and commercial purposes. Residential application further includes new construction, remodeling and retrofit. On the other hand, on the basis of commercial application it includes new and retrofit, industrial, agricultural( greenhouse production, nursery farms), shipping, food service, automotive, OEM , aviation, aerospace & defence and others.
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Geographically, the global radiant barrier industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. North America holds the highest share of global radiant barrier market, followed by Asia Pacific, Japan, Europe and Middle East and Africa. Asia Pacific region is growing in the global radiant barrier market currently due to urbanization as well as the growth of construction sector. On the other hand, decline in the growth of construction industry has affected Europe and Middle East markets.
The major players identified across the value chain of global radiant barrier market include RIMA International, Reflectix, Inc., Innovative Insulation Inc., FiFoil Company Inc., Solar Energy Corporation, Eco Foil, Energy Effficient Solutions LLC, Spunchem, Attic Foil Radiant Barrier Supply LLC, Universal forest Products Inc., and others. The companies are accentuating on research and development and new product development in order to maintain the competitive advantage in global radiant barrier market during the forecast period.
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