Flammable Insulation Materials Market: Introduction
- Insulating materials are used to prevent heat, electricity, or sound from entering into or coming out of something. Cellulose insulation is one of the most eco-friendly forms of flammable insulation materials. Cellulose has an R value ranging between 3.1 and 3.7.
- Polyurethane foams also serve as an excellent form of insulation. Polyurethane foams are low-density foams that are sprayed on areas that need to be insulated. Polystyrene has good sound and heat insulation characteristics. These characteristics make polystyrene a suitable choice for wall insulation. Polystyrene foam requires fireproof coating, due to its flammable nature.
- Developed countries such as the U.S. and Germany are actively promoting construction of zero-energy buildings in order to reduce the energy consumption. This, in turn, is expected to drive the global flammable insulation materials market during the forecast period.
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Key Drivers of Global Flammable Insulation Materials Market
- Rising population, growing urbanization, increasing demand for sustainable residential buildings, and technological advancements in flammable insulation materials are projected to drive the global flammable insulation materials market from 2019 to 2027
- Use of flammable insulation materials in the insulation of various appliances such as water heaters, refrigerators, and washing machines to absorb sound and resist heat transfer is growing. End-users such as original equipment manufacturers (OEMs) and industries such as HVAC, oil gas, wires cables, and automobiles are witnessing increasing demand for flammable insulation materials.
- Rising concerns about changing climatic conditions and global warming and increasing number of energy conservation regulations are estimated to propel the global flammable insulation materials market between 2019 and 2027.
- Rising energy costs along with government initiatives to improve energy efficiency are estimated to boost the demand for flammable insulation materials in residential and industrial applications. This, in turn, is likely to promote growth of the global flammable insulation materials market during the forecast period.
Fiberglass Segment to Witness Attractive Opportunities
- The fiberglass segment accounted for a leading share of the global flammable insulation materials market in 2018. The segment is anticipated to be highly attractive during the forecast period, owing to excellent properties of fiberglass, such as high stiffness, high tensile strength, low weight, and high chemical resistance.
- Fiberglass is widely used in structural engineering applications, such as in old concrete structures, to increase their load capacity and flexure. Fiberglass decking is increasingly utilized in residential construction to prevent splintering, rotting, and color fading. It imparts better durability and aesthetic value to structures as compared to traditional decking.
- Application of flammable insulation materials in the transportation sector is rising, as safety and comfort is the focus of automakers
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Asia Pacific to Hold a Significant Share of Global Flammable Insulation Materials Market
- Geographically, the global market for flammable insulation materials can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East Africa
- In terms of both volume and value, Asia Pacific dominated the global market in 2018. The region is anticipated to dominate the global market during the forecast period also. Rise in population, increase in the disposable income of consumers, and implementation of less stringent regulations have led to emergence of Asia Pacific as a rapidly expanding construction sector. The flammable insulation materials market in developing economies in Asia Pacific, such as India, Singapore, and ASEAN, has been expanding over the last few years.
- Rising FDIs (foreign direct investments) in the construction industry in developing economies of Asia Pacific are likely to fuel the market in the region during the forecast period
- The flammable insulation materials market in Middle East Africa is estimated to expand at a rapid pace during the forecast period, followed by North America and Europe. This growth can be attributed to increasing investments in the construction industry in the region.
Key Players Operating in Global Flammable Insulation Materials Market
Key players operating in the global flammable insulation materials market are:
- BASF SE
- Paroc Group
- ROCKWOOL International
- GAF Materials Corporation
- Huntsman International
- Knauf Insulation
- Saint-Gobain S.A.
- Kingspan Group
- Dow Chemicals Company
- Asahi Kasei Corporation
- Owens Corning
- Bayer AG
- I. du Pont de Nemours and Company
- Berkshire Hathaway
Global Flammable Insulation Materials Market: Research Scope
Global Flammable Insulation Materials Market, by Material
- Fiberglass
- Plastic Foam
- Stone Wool
- Others
Global Flammable Insulation Materials Market, by Temperature Range
- −160°C to −50°C
- −49°C to 0°C
- 1°C to 100°C
- 101°C to 650°C
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Volatility in Prices of Raw Materials to Hamper Market
- Volatility in prices of raw materials is expected to hinder the global flammable insulation materials market during the forecast period
- Components of plastic foams used in flammable insulation materials, such as polyethylene and extruded polystyrene (EPS), are downstream derivatives of crude oil. Thus, unpredictability of crude oil prices is a major restraint of the global flammable insulation materials market.
- Fluctuations in prices of raw materials create difficulty in determining the optimum price of flammable insulation materials. This factor also restrains the market.
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