Product Code: 69527
The market for flexible insulation is expected to register a CAGR of over 5%, globally, during the forecast period. The major factors driving the market studied are the growing need for energy-efficient buildings. On the flip side, lack of awareness among consumers and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- The fiberglass insulation material segment is expected to dominate the global flexible insulation market over the forecast period.
- The European region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period owing to the consumption from countries, such as France, Germany, and Italy.
Key Market Trends
Rising Demand for Fiberglass Insulation
- Fiberglass insulation holds the largest share in the material segment. The market for fiberglass insulation is projected to witness significant growth on account of rising usage in wide applications due to its lightweight, non-combustible, high tear strength and corrosion-resistant nature.
- Fiberglass finds its usage in several applications like thermal insulation for pipework in HVAC industries, flexible air ducts, residential and commercial refrigerators & freezers, jet-engine ducting, aircraft component, and commercial construction.
- Additionally, fiberglass insulation offers superior design flexibility. Greater amounts can be installed in some sections of a building to increase overall thermal performance and compensate for areas with lower thermal values, such as windows and doors.
- It enables a wide range of R-Values, giving the specifier more options for meeting provincial and national energy code requirements.
- Owing to the above mentioned factors, the demand for fiberglass insulation is expected to further grow over the forecast period.
The European Region to Dominate the Market
- The European region is projected to be the largest and the fastest-growing market for flexible insulation. Stringent building energy codes accompanied by European Union Directives to enhance efficiency in buildings are expected to surge the demand for flexible insulation in the region.
- Robust demand for flexible insulation from the housing sector in countries like Germany is another reason for the growth of the flexible insulation market.
- Additionally, the region was an early adopter of the emerging materials on account of rapid industrialization and the presence of major insulation product manufacturers thus leading to high product sales.
- Under NPIF, the United Kingdom government is planning to invest GBP 23 billion (~USD 28.77 billion) on housing, science and innovation, transport, and a 5G network over the next five years, of which, around GBP 7.2 billion (~USD 9 billion) is allocated for the construction of new homes and GBP 4 billion (~USD 5 billion) is allocated to infrastructure.
- In addition, the government's investments of GBP 100 billion (~USD 125 billion) in large-scale housing and regeneration projects, along with key social infrastructure, such as schools, hospitals, and prisons, is expected to increase the demand for flexible insulation used for construction purposes.
- Hence, owing to the above mentioned factors, the demand for flexible insulation in Europe is expected to witness fastest-growth.
The global flexible insulation market is partially consolidated in nature with a few major players accouting for a significant portion of the market. Some of the major companies are Saint-Gobain, Armacell, BASF SE, Johns Manville, and Owens Corning, among others.
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- The market estimate (ME) sheet in Excel format
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TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Growing Need for Energy Efficient Buildings
- 4.1.2 Other Drivers
- 4.2 Restraints
- 4.2.1 Lack of Awareness among Consumers
- 4.2.2 Unfavourable Conditions arising Due to COVID-19 Outbreak
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Material
- 5.1.1 Aerogel
- 5.1.2 Cross-Linked Polyethylene
- 5.1.3 Elastomer
- 5.1.4 Fiberglass
- 5.1.5 Others
- 5.2 Insulation Type
- 5.2.1 Acoustic Insulation
- 5.2.2 Electrical Insulation
- 5.2.3 Thermal Insulation
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 India
- 18.104.22.168 Japan
- 22.214.171.124 South Korea
- 126.96.36.199 Rest of Asia-Pacific
- 5.3.2 North America
- 188.8.131.52 United States
- 184.108.40.206 Canada
- 220.127.116.11 Mexico
- 5.3.3 Europe
- 18.104.22.168 Germany
- 22.214.171.124 United Kingdom
- 126.96.36.199 France
- 188.8.131.52 Italy
- 184.108.40.206 Rest of Europe
- 5.3.4 South America
- 220.127.116.11 Brazil
- 18.104.22.168 Argentina
- 22.214.171.124 Rest of South America
- 5.3.5 Middle-East and Africa
- 126.96.36.199 Saudi Arabia
- 188.8.131.52 South Africa
- 184.108.40.206 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Armacell
- 6.4.2 BASF SE
- 6.4.3 ContiTech AG
- 6.4.4 Fletcher Insulation
- 6.4.5 Johns Manville
- 6.4.6 Kingspan Group
- 6.4.7 Owens Corning
- 6.4.8 Saint-Gobain
- 6.4.9 SUPERLON
- 6.4.10 Thermaxx Jackets
7 MARKET OPPORTUNITIES AND FUTURE TRENDS