Flammable Insulation Materials Market: Introduction
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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.
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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.
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.
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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.
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
More Trending Reports
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
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ROCKWOOL International
·
GAF Materials Corporation
·
Huntsman International
·
Knauf Insulation
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Saint-Gobain S.A.
·
Kingspan Group
·
Dow Chemicals Company
·
Asahi Kasei Corporation
·
Owens Corning
·
Bayer AG
·
E. I. du Pont de Nemours and Company
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