Global Polyisocyanurate Insulation Market

Global Polyisocyanurate Insulation Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Polyisocyanurate Insulation Market was worth US$ 12,085.6 Mn and is expected to grow at a CAGR of 5.8% over the forecast period. While the historical CAGR is 5.2%, the market is expected to hit US$ 21,238.6 Mn by 2032 end.

Closed-cell foam insulation called polyisocyanurate may be used more frequently for wall and roof assemblies in residential and commercial sectors. Isocyanurate and polyol, two fundamental liquid chemicals, are mixed with a catalyst, a blowing agent, flame retardants, and perhaps other agents to form it. The results could have the best thermal insulating properties compared to commercially available materials. The use of polyisocyanurate insulation for acoustic, thermal, and hybrid purposes is growing in popularity across various end uses.

Market Dynamic

EXPANDING EFFORTS TO USE ENVIRONMENTALLY FRIENDLY INSULATION MATERIALS INCREASING DEMAND FOR POLYISOCYANURATE INSULATION

polyisocyanurate insulation has no ozone depletion potential and low global warming potential. Since polyisocyanurate insulation may be reused and complies with current continuous insulation criteria, it can be considered a recyclable product. As a result, polyisocyanurate insulation is regarded as a modern choice for insulation, especially in applications related to architecture and construction.

Environmentally friendly insulating materials are already being produced and commercialized in large quantities because of improved manufacturing processes. As a result, it is projected that the market for natural and eco-friendly insulation will be quite lucrative throughout the projection period.

Market Segments Covered in Report

By Type:

• Liquid
• Spray
• Rigid Foam/ Board

By Application:

• Acoustic
• Thermal
• Hybrid

By End-Use:

• Building & Construction
• Transport
• Consumer Appliances
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which type of polyisocyanurate insulation is expected to witness a considerable growth?

The highest R-value per inch, ranging from R 5.5 to R 8, is often achieved by polyisocyanurate foam among all commercial insulation products. Because of its low density and lightweight, it can be used to build thinner walls without sacrificing strength.

More than 75.1% of flat roof building today favors polyisocyanurate foam insulation. The material behaves consistently over a large temperature range (-100°F to +250°F). The market is projected to be around US$ 15,335.2 Mn.

Which End Use Industry will be a significant consumer of polyisocyanurate insulation over the forecast period?

Polyisocyanurate insulation is widely used in building & construction assembly for all business and residential structures. Builders, architects, contractors, and owners favor polyisocyanurate insulation because of its many advantages and distinctive qualities.

Building & construction, which accounts for 72.2% of end users, is anticipated to dominate the market during the projected period and rise at a CAGR of 6.5% to reach US$ 14,047.5 Mn in value.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• With a market share of 20.4%, North America currently dominates the industry. Throughout the forecast period, North America is anticipated to expand significantly due to the region’s robust construction sector growth, higher-than-average auto production rate, and higher-than-average consumer appliance production rate.
• Germany is thought to hold a substantial market share in the European polyisocyanurate insulation market. With a significant number of residential buildings, industrially built environments, and commercial buildings, Germany is one of the region’s important countries for the construction industry.

Competition Analysis

The leading manufacturers are concentrating on expanding their market presence, and it is projected that the worldwide polyisocyanurate insulation market will be moderately consolidated. These players’ primary approach is diversifying their manufacturing and sales networks throughout numerous regions. The main businesses are concentrating on research and development to create cutting-edge products and technology and increase the product’s uses.

The key developments in the Global Polyisocyanurate Insulation Market are:

• In October 2017, the acquisition of Paroc Group (“Paroc”), a major manufacturer of mineral wool insulation for construction and technical applications in Europe, by Owens Corning Insulating Systems, LLC, and CVC Capital Partners was announced.
• In March 2018, a significant investment was made by Kingspan Insulation in a brand-new, state-of-the-art manufacturing plant for its premium Kooltherm insulation product line. The new facility will be situated close to Sweden’s Jonkoping.

A list of some of the key suppliers present in the market are:

• BASF SE
• 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
• Hunter Panels

Global Polyisocyanurate Insulation Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies