PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514917
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514917
Polyisocyanurate Insulation Market size was valued at USD 13,989.98 Million in 2023, expanding at a CAGR of 6.5% from 2024 to 2032.
Rigid foam insulation of the polyisocyanurate variety, sometimes called polyiso, is frequently used in buildings as a thermal insulator. It is composed of two different types of organic compounds: polyol, which has numerous hydroxyl groups, and isocyanurate, which has isocyanate functional groups.
Polyisocyanurate Insulation Market- Market Dynamics
Increasing focus on retrofitting, renovation, energy efficiency regulations are expected to propel market demand
Renovation and retrofitting of existing buildings to increase energy efficiency is becoming more and more popular, with an emphasis on sustainability and energy conservation. For these kinds of projects, polyisocyanurate insulation is frequently used because of its high R-value and adaptability to different building techniques. Rising building codes and energy efficiency rules are driving demand for high-performance insulation materials such as polyisocyanurate. Globally, governments are imposing stricter regulations on energy efficiency in buildings, which encourages the use of insulating materials with better thermal performance.
The growth of the construction industry, particularly in emerging economies, fuels the demand for insulation materials. Rapid urbanization and infrastructure development projects create a significant market for polyisocyanurate insulation in residential, commercial, and industrial buildings. Further, increasing awareness of environmental issues and a shift towards sustainable building practices drive the demand for green building materials. Polyisocyanurate insulation, known for its energy-saving properties and relatively low environmental impact, is favored in green building projects seeking LEED (Leadership in Energy and Environmental Design) certification.
Polyisocyanurate Insulation Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032)
Based on Type segmentation, the spray type segment was predicted to show maximum market share in the year 2023, owing to its high demand from the transportation sector.
Based on Application segmentation, the construction segment was the leading Application in 2023, due to the high demand for insulation in the construction of buildings for better durability and reliability.
Based on End User segmentation, the transportation segment was the leading End User in 2023, owing to the high demand for polyisocyanurate insulation in transport activities for handling & safety.
Based on region, Asia Pacific was the leading revenue generator in 2023, owing to growing demand from electronics & transportation industries.
The Global Polyisocyanurate Insulation Market is segmented based on Type, Application, End User, and Region.
The market is divided into two categories based on Type: spray type and foam/board type. The spray type segment dominates the market. Spray type insulation is used in all major industries boosting segment growth.
The market is divided into three categories based on the Application: construction, consumer appliances, and others. The construction segment dominates the market. The growing need for insulation in construction for protection from environmental factors is spurring market growth.
The market is divided into five categories based on End User: transportation, electronics, chemical, pharmaceutical, and others. The transportation segment dominates the market and is expected to maintain its high dominance during the forecast period. In transportation, insulation plays a vital role in safety & protection measures to maintain product quality.
Polyisocyanurate Insulation Market- Geographical Insights
Globally, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominates the global market. The region's focus on energy efficiency and sustainable construction practices, coupled with a robust construction industry, fuels the demand for high-performance insulation materials. Residential and commercial construction projects, as well as renovation and retrofitting activities, contribute to market growth.
The Polyisocyanurate Insulation market is formed by small and large international players. Companies have undertaken initiatives and developments to enhance their products, expand their market presence, and address emerging trends. Further, companies focus on innovation to improve the performance and sustainability of their products. Initiatives include the development of high-density polyisocyanurate insulation boards for enhanced thermal efficiency and the introduction of products with low global warming potential (GWP) blowing agents
In April 2023, HORGEN and Avery Dennison collaborated to develop an innovative & sustainable new adhesive solution for packaging.
In 2022, GAF Materials started the expansion of commercial roofing operations with the launch of production at the polyisocyanurate insulation manufacturing plant.