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The flexible insulation market share is expected to increase by USD 2.80 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.24%.
This flexible insulation market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers flexible insulation market segmentation by material (fiberglass, elastomers, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The flexible insulation market report also offers information on several market vendors, including Aeroflex USA Inc, ALTANA AG, Armacell International SA, Aspen Aerogels Inc., BASF SE, Berkshire Hathaway Inc., Compagnie de Saint Gobain SA, Continental AG, Dow Inc., Fletcher Building Ltd., Kingspan Group Plc, Knauf Insulation, L ISOLANTE K FLEX S.p.A., NICHIAS Corp., Owens Corning, Pacor Inc., Superlon Holdings Berhad, Thermaflex International Holding BV, Thermaxx Jackets, and Trocellen GmbH among others.
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The increased demand from the construction industry in emerging economies is notably driving the flexible insulation market growth, although factors such as fluctuation in crude oil prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the flexible insulation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Flexible Insulation Market Driver
The increased demand from the construction industry in emerging economies is one of the factors supporting the flexible insulation market growth. Population growth in the Middle East and Africa has increased the need for infrastructure development. Countries in Southwest Africa, such as Namibia, which gained independence in 1990, are in the post-independence recovery phase and lack proper infrastructure. Technological advances in the construction industry, such as smart buildings, influence contractors to build new and advanced structures, especially in countries such as Switzerland, South Africa, and Egypt, which have a history of organized and firm building structures. Moreover, the Middle East is hosting events such as the FIFA World Cup 2022 in Qatar and Dubai Expo 2020. Such events will increase the demand for hotels and transportation networks, thereby fostering the growth of the global flexible insulation market.
Key Flexible Insulation Market Trend
Growth in the construction industry is another factor supporting the flexible insulation market growth. In the construction and infrastructure industry, flexible insulation foams are primarily used for insulation. Flexible foam materials provide very high electrical and thermal insulation and are resistant to chemicals, making them ideal for external and internal insulations. Furthermore, polymeric foam-based materials are widely used in construction as they have high mechanical strength, are lightweight, and have the ability to make a thinner construction. Thus, the increasing number of residential, commercial, and infrastructure projects globally is expected to be a trend in the market and will increase the sales of flexible insulation during the forecast period.
Key Flexible Insulation Market Challenge
Fluctuation in crude oil prices is one of the factors hindering the flexible insulation market growth. One of the key reactive materials required to produce polyurethane foam is a diisocyanate. The most widely used isocyanates for polyurethane foam production are toluene diisocyanate (TDI) and polymeric isocyanate. These isocyanates are mainly produced from benzene and its derivatives manufactured from crude oil. Thus, the volatility in crude oil prices adversely affects the cost of these raw materials, in turn negatively affecting the manufacturing cost of polyurethane foam and its uses. But in the future, the flexible insulation industry is expected to grow owing to heavy investments in the US. The fluctuating oil prices have compelled vendors operating in the market to adopt various cost-cutting measures. Thus, varying crude oil prices hinders the growth of the global flexible insulation market.
This flexible insulation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global flexible insulation market as a part of the global building products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the flexible insulation market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the flexible insulation market encompasses successful business strategies deployed by the key vendors. The flexible insulation market is fragmented and the vendors are deploying growth strategies such as developing products and are constantly increasing their R and D investments to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The flexible insulation market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the flexible insulation market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for flexible insulation market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing population and rapid urbanization will facilitate the flexible insulation market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market in the region witnessed certain challenges in 2020 owing to the COVID-19 pandemic. However, the launch of vaccines and the ease of lockdown measures led various end-user industries, such as construction, to resume their operations. Moreover, there have been growing investments in healthcare facilities in developing countries such as India to strengthen their medical facilities. These factors will aid in deploying flexible insulation in hospitals and others. Thus, all these factors are anticipated to positively impact the regional market during the forecast period.
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The flexible insulation market share growth by the fiberglass segment will be significant during the forecast period. Fiberglass is widely used in construction and associated applications such as mesh fabrics, drywall tapes, wall covering, and roof panels. It has various advantages, which makes it suitable for construction. It is waterproof and is ideal for exterior covering, as it protects the building structure from water and improves building strength. In addition, it provides an aesthetic look to the building and enhances wall strength. The use of fiberglass in walls also improves heat insulation of the building and keeps the building warm, thus, saving energy costs for the building. Such applications are expected to boost the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the flexible insulation market size and actionable market insights on post COVID-19 impact on each segment.
Insulation market - The market share is expected to increase by USD 20.83 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.32%.
Pipe Insulation market - The market size is predicted to surge by USD 2.50 billion from 2021 to 2026 at a CAGR of 5.24%.
Roofing Insulation Adhesives market - The market share is expected to increase by USD 737.07 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.18%.
Flexible Insulation Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
Market growth 2022-2026 |
$ 2.80 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.19 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Aeroflex USA Inc, ALTANA AG, Armacell International SA, Aspen Aerogels Inc., BASF SE, Berkshire Hathaway Inc., Compagnie de Saint Gobain SA, Continental AG, Dow Inc., Fletcher Building Ltd., Kingspan Group Plc, Knauf Insulation, L ISOLANTE K FLEX S.p.A., NICHIAS Corp., Owens Corning, Pacor Inc., Superlon Holdings Berhad, Thermaflex International Holding BV, Thermaxx Jackets, and Trocellen GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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