An Incisive, In-depth Analysis on the Polyisocyanurate Insulation Market
This study offers a comprehensive, 360 degree analysis on the Polyisocyanurate Insulation market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Polyisocyanurate Insulation market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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 insulation materials used commercially. Polyisocyanurate insulation can be used as acoustic insulation material, thermal & hybrid insulation, which is further adopted in different end uses.
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%.
Factors influencing the Polyisocyanurate Insulation market growth
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
Polyisocyanurate Insulation market segmentation and forecast
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).
Polyisocyanurate Insulation Market Analysis by Type
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.
Polyisocyanurate Insulation Market Analysis by Application
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.
Polyisocyanurate Insulation Market Analysis by End User
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.
Polyisocyanurate Insulation Market Analysis by Region
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
Key Players in the Polyisocyanurate Insulation Market
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.
Future Market Insights (FMI) provides an exclusive analysis of the global polyisocyanurate insulation market in its latest report titled ‘Polyisocyanurate Insulation Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment, 2018 – 2028’. The main aim of this report is to offer exhaustive analysis and provide insights pertaining to the global polyisocyanurate insulation market. This report offers a comprehensive analysis of the global polyisocyanurate insulation market in terms of market volume (KT), (Mn Sq. Ft) & value (US$ Mn) and year-wise (Y-o-Y) growth in the global polyisocyanurate insulation market according to product type, application, end users and region. To give a better understanding of the market, the report comes loaded with analysis of factors, such as drivers, trends, restraints and their impact on the market dynamics. The report has been segmented into four sections on the basis of product type, application, end user and region.
The report on the global polyisocyanurate insulation market starts with an executive summary and market introduction and provides a complete view of the market. This section includes polyisocyanurate insulation market view point, value chain analysis and forecast factors impact analysis. The section that follows analyses the global polyisocyanurate insulation market on the basis of segments and presents a forecast for the period 2018-2028. The global polyisocyanurate insulation market has been segmented into:
By Product Type
The last section of the report includes a competitive landscape, which includes market share analysis and provides information and analysis of companies based on the categories of manufacturers and service providers across the value chain and their presence in the global polyisocyanurate insulation market.
The polyisocyanurate insulation market volume has been inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analyzed and the average global polyisocyanurate insulation market volume is deduced and reconfirmed prior to incorporation in the report. The price of polyisocyanurate insulation has been deduced on the basis of product type where the average price of each product type is inferred across all the respective regions. The market value of the global polyisocyanurate insulation market has been thus calculated from the data provided by the average selling price and market volume.
For the research, extensive secondary research carried out to understand the market dynamics based on product types, applications, and end users. Sources of secondary data which includes industry journals, SEC filings, company websites, import and export data, investor presentation, etc. is used to reach the actual market estimations. During the scope of the research, we also tracked the historic data of last 4 years to scrutinize developments, industry growth, of the market. This is further segmented on the basis of geography and key manufacturers. In addition to this, key data also covered which include, trends, drivers, opportunity, and restraints and finally to in the competition dashboard, we analyzed key players and their market shares based on their sales.
For the 10-year forecast of the global polyisocyanurate insulation market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at the global polyisocyanurate insulation market forecast are the size of the current market, inputs from the demand side and the supply side and other dynamics shaping the global polyisocyanurate insulation market.