Summary
Foam Insulation Market Research Report Information by Form (Spray, Flexible, and Rigid), Product Type (Polyurethane Foam, Polystyrene Foam, Polyolefin Foam, Phenolic Foam, Elastomeric Foam, and Others), End-Use Industry (Building & Construction, Automotive & Transportation, Electricals & Electronics, Packaging, and Others) and Region Forecast to 2035
Overview of the Market
Over the course of the review year, the foam insulation market is expected to grow at a noteworthy CAGR of 7.6%.
The need for foam insulation, which is renowned for its remarkable thermal performance, adaptability, and energy efficiency, is mostly driven by the growing building industry. Globally, the need for foam insulation has increased dramatically due to rapid urbanization, population growth, and growing awareness of energy saving. There is a sizable market for foam insulation as a result of the building industry's growth due to the expansion of residential, commercial, and industrial infrastructure. This substance is crucial for lowering energy use, improving indoor comfort, and supporting international sustainability objectives.
Foam insulation has been a mainstay in residential building because of its capacity to reduce energy consumption and maintain constant interior temperatures. This is especially important in areas with harsh weather patterns. Foam insulation stands out due to its high R-value, air-sealing qualities, and moisture resistance, which ensure a comfortable and effective home environment as purchasers place a greater emphasis on eco-friendly and energy-efficient living environments. The significance of foam insulation is further reinforced by government laws such as the International Energy Conservation Code (IECC) in the US, which requires energy efficiency in new home developments. In addition to encouraging energy conservation, these standards provide cash incentives, which increases their uptake by developers and households.
There is a strong need for foam insulation in the commercial construction industry as well. Durable and energy-efficient insulation solutions are becoming more and more important in office buildings, retail establishments, healthcare facilities, and educational institutions. Because of its excellent moisture barrier qualities, structural strengthening, and high heat resistance, closed-cell spray foam is preferred. Architects and developers are increasingly using foam insulation to meet sustainability standards and customer expectations, thanks to green building certifications like Leadership in Energy and Environmental Design (LEED) and net-zero energy practices.
Segmenting the Market
Form, product type, end-use industry, and geography are the factors used to segment the worldwide foam insulation market. The market is divided into three segments based on form: spray, flexible, and stiff. With a 38.83% market revenue share in 2023, the flexible form category is predicted to grow at a compound annual growth rate (CAGR) of 8.2% over the forecast period.
The market is divided into segments based on product type, including phenolic foam, elastomeric foam, polyurethane foam, polystyrene foam, and polyolefin foam. Of these, the polyurethane foam category had the biggest market revenue share in 2023 (48.80%), and it is anticipated to increase at a compound annual growth rate (CAGR) of 8.6% during the forecast period.
The market is divided into several segments based on the end-use industry, including packaging, electrical and electronics, automotive and transportation, and building and construction. The automotive and transportation sector had the biggest market revenue share in 2023 (34.93%), and over the forecast period, it is anticipated to increase at a compound annual growth rate (CAGR) of 7.0%.
Key Players
In addition to regional rivals like Safco Foam Insulation, Cajun Foam Insulation, EnergyGuard Foam Insulators, Puff Inc., Pittsburgh Foam Insulation, and Insulation Northwest, the market's top players include Covestro AG, Huntsman Corporation, Dow Inc., DuPont, Saint-Gobain, Owens Corning, BASF SE, and Johns Manville.
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Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ............................................................................................................... 23
2 MARKET INTRODUCTION ............................................................................................................ 29
2.1 DEFINITION .................................................................................................................................................................. 29
2.2 SCOPE OF THE STUDY .............................................................................................................................................. 29
2.3 RESEARCH OBJECTIVE ............................................................................................................................................ 29
2.4 MARKET STRUCTURE .............................................................................................................................................. 30
3 RESEARCH METHODOLOGY ...................................................................................................... 31
3.1 OVERVIEW .................................................................................................................................................................... 31
3.2 DATA FLOW .................................................................................................................................................................. 33
3.2.1 DATA MINING PROCESS ....................................................................................................................................... 34
3.3 PURCHASED DATABASE: ......................................................................................................................................... 35
3.4 SECONDARY SOURCES: ............................................................................................................................................ 36
3.4.1 SECONDARY RESEARCH DATA FLOW: ........................................................................................................................ 37
3.5 PRIMARY RESEARCH: ............................................................................................................................................... 38
3.5.1 PRIMARY RESEARCH DATA FLOW: ....................................................................................................................... 39
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ........................................................................................ 40
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE ............................................................................................................. 40
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ........................................................................................... 41
3.6.1 CONSUMPTION & NET TRADE APPROACH ................................................................................................................ 41
3.6.2 REVENUE ANALYSIS APPROACH ............................................................................................................................ 41
3.7 DATA FORECASTING.................................................................................................................. 42
3.7.1 DATA FORECASTING TECHNIQUE ............................................................................................ 42
3.8 DATA MODELING ..................................................................................................................... 43
3.8.1 MICROECONOMIC FACTOR ANALYSIS: .................................................................................. 43
3.8.2 DATA MODELING: ............................................................................................................. 44
3.9 TEAMS AND ANALYST CONTRIBUTION ........................................................................................................... 45
4 MARKET DYNAMICS .................................................................................................................... 48
4.1 INTRODUCTION ........................................................................................................................................................... 48
4.2 DRIVERS ........................................................................................................................................................ 48
4.2.1 INCREASING DEMAND FROM BUILDING AND CONSTRUCTION SECTOR ........................................ 48
4.2.2 RAPIDLY EXPANDING AUTOMOTIVE SECTOR ................................................................ 50
4.3 RESTRAINTS .................................................................................................................. 53
4.3.1 FLUCTUATING RAW MATERIAL PRICES ................................................................................. 53
4.4 OPPORTUNITY .............................................................................................................. 55
4.4.1 RISING DEMAND FOR HIGH PERFORMANCE ELECTRONICS ................................................. 55
4.4.2 INCREASING USE IN PACKAGING APPLICATIONS......................................................................................................... 56
4.5 CHALLENGE ...........................................................................................................................57
4.5.1 COMPETITION FROM ALTERNATIVE INSULATION MATERIALS .............................................................. 57
4.6 TRENDS/TECHNOLOGY .......................................................................................................... 58
4.6.1 ADOPTION OF SPRAY FOAM INSULATION ........................................................................... 58
4.6.2 ADVANCEMENTS IN INSULATION TECHNOLOGY .................................................................... 58
5 MARKET FACTOR ANALYSIS OF THE GLOBAL FOAM INSULATION MARKET ........................ 60
5.1 SUPPLY/VALUE CHAIN ANALYSIS ...................................................................... 60
5.1.1 RAW MATERIAL SOURCING ................................................................................ 60
5.1.2 MANUFACTURERS ......................................................................................................... 63
5.1.3 DISTRIBUTION .......................................................................................................................... 66
5.1.3.1 DISTRIBUTION ..................................................................................................................... 66
5.1.4 END USE INDUSTRY ..................................................................................................................... 67
5.2 PORTER’S FIVE FORCES MODEL ............................................................................................ 68
5.2.1 THREAT OF NEW ENTRANTS ......................................................................................... 68
5.2.2 THREAT OF SUBSTITUTES ......................................................................................................... 68
5.2.3 BARGAINING POWER OF SUPPLIERS ............................................................................. 69
5.2.4 BARGAINING POWER OF BUYERS ............................................................................ 69
5.2.5 INTENSITY OF RIVALRY ................................................................................................ 69
6 GLOBAL FOAM INSULATION MARKET, BY FORM ........................................70
6.1 OVERVIEW .................................................................................................................. 70
6.1.1 SPRAY .............................................................................................................................. 71
6.1.2 FLEXIBLE ............................................................................................................... 71
6.1.3 RIGID ...................................................................................................... 71
7 GLOBAL FOAM INSULATION MARKET, BY PRODUCT TYPE ............................ 73
7.1 OVERVIEW .............................................................................................................................. 73
7.1.1 POLYURETHANE (PU) FOAM .................................................................................................. 74
7.1.2 POLYSTYRENE FOAM ...................................................................................................... 75
7.1.3 POLYOLEFIN FOAM ........................................................................................................... 75
7.1.4 FATTY ALCOHOL SULFATES ..................................................................................... 75
7.1.5 SULFOSUCCINATES .......................................................................................... 75
7.1.6 OTHERS ..................................................................................................................... 76
8 GLOBAL FOAM INSULATION MARKET, BY END-USE INDUSTRY ............................................ 77
8.1 OVERVIEW ................................................................................................................ 77
8.1.1 BUILDING AND CONSTRUCTION ......................................................................................... 78
8.1.2 AUTOMOTIVE & TRANSPORTATION ........................................................................... 79
8.1.3 ELECTRICALS AND ELECTRONICS ..............................................................................79
8.1.4 PACKAGING ..............................................................................................................79
8.1.5 OTHERS ................................................................................................................................ 79
9 GLOBAL FOAM INSULATION MARKET, BY REGION .......................................... 80
9.1 OVERVIEW .............................................................................................................................. 80
9.2 NORTH AMERICA ................................................................................................................ 81
9.2.1 US................................................................................................................................ 85
9.2.2 CANADA ................................................................................................................................ 88
9.2.3 MEXICO ............................................................................................................................. 90
9.3 EUROPE ................................................................................................................................... 92
9.3.1 GERMANY ................................................................................................. 96
9.3.2 UK ......................................................................................................... 98
9.3.3 FRANCE ................................................................................................ 100
9.3.4 SPAIN ...................................................................................................... 102
9.3.5 ITALY .................................................................................................................. 104
9.3.6 POLAND..................................................................................................................................... 106
9.3.7 FINLAN..................................................................................................................... 108
9.3.8 RUSSIA .......................................................................................................................... 110
9.3.9 REST OF EUROPE .................................................................................................................... 112
9.4 ASIA PACIFIC ................................................................................................................................... 114
9.4.1 CHINA ...................................................................................................................... 117
9.4.2 JAPAN ............................................................................................................... 120
9.4.3 INDIA ............................................................................................................. 122
9.4.4 SOUTH KOREA ..................................................................................................... 124
9.4.5 AUSTRALIA & NEW ZEALAND ................................................................................. 125
9.4.6 AUSTRALIA & NEW ZEALAND ........................................................................... 126
9.4.7 REST OF ASIA PACIFIC ..................................................................................................... 128
9.5 SOUTH AMERICA ................................................................................................................ 131
9.5.1 BRAZIL .............................................................................................................................. 134
9.5.2 ARGENTINA ...................................................................................................................... 136
9.5.3 REST OF SOUTH AMERICA .................................................................................................. 138
9.6 MIDDLE EAST & AFRICA ................................................................................................. 140
9.6.1 GCC COUNTRIES .......................................................................................... 144
9.6.2 SOUTH AFRICA ......................................................................................... 146
9.6.3 REST OF MIDDLE EAST & AFRICA ........................................................................... 148
10 COMPETITIVE LANDSCAPE ............................................................. 152
10.1 INTRODUCTION ................................................................................................. 152
10.2 COMPETITION DASHBOARD ..................................................................................... 152
10.3 MARKET SHARE ANALYSIS, 2023 ................................................................................ 153
10.4 COMPETITIVE BENCHMARKING ............................................................................... 153
10.5 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL........................................................ 154
10.6 KEY DEVELOPMENTS & GROWTH STRATEGIES .............................................. 155
10.6.1 AGREEMENTS &PARTNERSHIPS ............................................................. 155
10.6.2 ACQUISITION ...................................................................................................... 158
11 COMPANY PROFILES ........................................................................... 162
11.1 COVESTRO AG ................................................................................................................... 162
11.1.1 COMPANY OVERVIEW .................................................................................................. 162
11.1.2 FINANCIAL OVERVIEW ..................................................................................... 163
11.1.3 PRODUCTS OFFERED............................................................................................ 163
11.1.4 KEY DEVELOPMENTS ..................................................................................................... 163
11.1.5 SWOT ANALYSIS ........................................................................................................... 164
11.1.6 KEY STRATEGY ......................................................................................................... 164
11.2 HUNTSMAN CORPORATION ....................................................................................... 165
11.2.1 COMPANY OVERVIEW ........................................................................................ 165
11.2.2 FINANCIAL OVERVIEW ................................................................................................... 166
11.2.3 PRODUCTS OFFERED.................................................................................................. 166
11.2.4 KEY DEVELOPMENTS ............................................................................................. 167
11.2.5 SWOT ANALYSIS ............................................................................................. 168
11.2.6 KEY STRATEGY .............................................................................................................. 168
11.3 DOW INC ....................................................................................................................... 169
11.3.1 COMPANY OVERVIEW ............................................................................................... 169
11.3.2 FINANCIAL OVERVIEW .................................................................................................. 170
11.3.3 PRODUCTS OFFERED ................................................................................................ 170
11.3.4 KEY DEVELOPMENTS ................................................................................................. 171
11.3.5 SWOT ANALYSIS ......................................................................................................... 172
11.3.6 KEY STRATEGY ............................................................................................................. 172
11.4 DUPONT .................................................................................................. 173
11.4.1 COMPANY OVERVIEW .................................................................................................. 173
11.4.2 FINANCIAL OVERVIEW ................................................................................................. 174
11.4.3 PRODUCTS OFFERED................................................................................................. 174
11.4.4 KEY DEVELOPMENTS .............................................................................................. 175
11.4.5 SWOT ANALYSIS .................................................................................................... 176
11.4.6 KEY STRATEGY ................................................................................................ 176
11.5 SAFCO FOAM INSULATION ................................................................................... 177
11.5.1 COMPANY OVERVIEW ............................................................................................. 177
11.5.2 FINANCIAL OVERVIEW ......................................................................................... 178
11.5.3 PRODUCTS OFFERED............................................................................................ 178
11.5.4 KEY DEVELOPMENTS ............................................................................................ 178
11.5.5 SWOT ANALYSIS ................................................................................................ 179
11.5.6 KEY STRATEGY ........................................................................................................... 179
11.6 CAJUN FOAM INSULATION ......................................................................................... 180
11.6.1 COMPANY OVERVIEW ............................................................................................. 180
11.6.2 FINANCIAL OVERVIEW .......................................................................................... 181
11.6.3 PRODUCTS OFFERED......................................................................................... 181
11.6.4 KEY DEVELOPMENTS ............................................................................................. 181
11.6.5 SWOT ANALYSIS ............................................................................................. 181
11.6.6 KEY STRATEGY ............................................................................................................. 182
11.7 SAINT-GOBAIN ....................................................................................................................... 183
11.7.1 COMPANY OVERVIEW ...................................................................................................... 183
11.7.2 FINANCIAL OVERVIEW .............................................................................................. 184
11.7.3 PRODUCTS OFFERED............................................................................................. 184
11.7.4 KEY DEVELOPMENTS ................................................................................................. 184
11.7.5 SWOT ANALYSIS .......................................................................................................... 186
11.7.6 KEY STRATEGY .............................................................................................................. 186
11.8 ENERGYGUARD FOAM INSULATORS ................................................................. 187
11.8.1 COMPANY OVERVIEW ........................................................................................... 187
11.8.2 FINANCIAL OVERVIEW ............................................................................................ 188
11.8.3 PRODUCTS OFFERED............................................................................................. 188
11.8.4 KEY DEVELOPMENTS .................................................................................................... 188
11.8.5 SWOT ANALYSIS ................................................................................................ 188
11.8.6 KEY STRATEGY .......................................................................................................... 189
11.9 INSULATION NORTHWEST ............................................................... 190
11.9.1 COMPANY OVERVIEW ................................................................................................ 190
11.9.2 FINANCIAL OVERVIEW .............................................................................................. 191
11.9.3 PRODUCTS OFFERED.............................................................................................
11.9.4 KEY DEVELOPMENTS ........................................................................................... 191
11.9.5 SWOT ANALYSIS ....................................................................................................... 192
11.9.6 KEY STRATEGY .............................................................................................................. 192
11.10 PUFF INC .......................................................................................................................... 193
11.10.1 COMPANY OVERVIEW ............................................................................................. 193
11.10.2 FINANCIAL OVERVIEW ..................................................................................... 194
11.10.3 PRODUCTS OFFERED........................................................................................... 194
11.10.4 KEY DEVELOPMENTS ..............................................................................................194
11.10.5 SWOT ANALYSIS ........................................................................................................ 194
11.10.6 KEY STRATEGY ................................................................................................... 195
11.11 PITTSBURGH FOAM INSULATION ...................................................................................196
11.11.1 COMPANY OVERVIEW .................................................................................................. 196
11.11.2 FINANCIAL OVERVIEW .......................................................................................... 197
11.11.3 PRODUCTS OFFERED.......................................................................................... 197
11.11.4 KEY DEVELOPMENTS ...................................................................................................... 197
11.11.5 SWOT ANALYSIS ......................................................................................................... 197
11.11.6 KEY STRATEGY ............................................................................................................. 198
11.12 OWENS CORNING ................................................................................................................ 199
11.12.1 COMPANY OVERVIEW .................................................................................................. 199
11.12.2 FINANCIAL OVERVIEW .................................................................................................... 200
11.12.3 PRODUCTS OFFERED....................................................................................................... 200
11.12.4 KEY DEVELOPMENTS ..................................................................................................201
11.12.5 SWOT ANALYSIS ........................................................................................................ 202
11.12.6 KEY STRATEGY ................................................................................................. 202
11.13 JOHNS MANVILLE .....................................................................................................................203
11.13.1 COMPANY OVERVIEW ........................................................................................................203
11.13.2 FINANCIAL OVERVIEW .................................................................................................... 204
11.13.3 PRODUCTS OFFERED................................................................................................. 204
11.13.4 KEY DEVELOPMENTS ...................................................................................................... 205
11.13.5 SWOT ANALYSIS ................................................................................................................ 205
11.13.6 KEY STRATEGY .................................................................................................................. 205
11.14 ARMACELL ............................................................................................................................. 206
11.14.1 COMPANY OVERVIEW .................................................................................................. 206
11.14.2 FINANCIAL OVERVIEW ................................................................................................... 207
11.14.3 PRODUCTS OFFERED....................................................................................................... 207
11.14.4 KEY DEVELOPMENTS ....................................................................................................... 207
11.14.5 SWOT ANALYSIS ...................................................................................................... 208
11.14.6 KEY STRATEGY ............................................................................................................ 208
11.15 BASF SE ....................................................................................................................................... 209
11.15.1 COMPANY OVERVIEW ................................................................................................... 209
11.15.2 FINANCIAL OVERVIEW .............................................................................................. 210
11.15.3 PRODUCTS OFFERED................................................................................................ 210
11.15.4 KEY DEVELOPMENTS ............................................................................................... 211
11.15.5 SWOT ANALYSIS ..................................................................................................... 213
11.15.6 KEY STRATEGY ......................................................................................................... 213
12 DATA CITATIONS ...................................................................................... 214
