Rigid Foam Market Expected to Hit US 59231.49 million by 2030, Reports Market Report Service Research
The market for rigid foam is heavily dominated by the polyurethane (PU). It is widely used in sectors of end-use, including automotive, construction and building appliances, packaging, and. The growing concern about insulation and energy efficiency is driving the market.
Rigid foams such as polyisocyanurate (polyiso) as well as extruded Polystyrene (XPS) as well as expanded polystyrene (EPS) are highly desirable due to their insulating properties. These minimize air leakage and the energy use.
Additionally, they provide the protection against fire as well as sound absorption. In addition, they are strong and simple to set up. They are the ideal option for insulation of walls, attic vents ceiling underlays as well as crawl spaces.
Rigid Foam Market Size was estimated at USD 46871.5 million in 2023 and is projected to reach USD 59231.49 million by 2030, exhibiting a CAGR of 3.60% during the forecast period 2024 to 2030
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Growth
The rigid polyurethane foam market is expanding at a steady rate due to the rising need for environmentally sustainable and energy-efficient construction methods. This, in turn, is driving demand of rigid insulation. In addition, the increasing construction activity and the need for better security in the event of fire are also likely to propel the growth of this market.
In terms of revenues, the building and construction sector is expected to lead the market during the next few years. This is mostly because of the growing concerns around the world regarding insulation and energy savings as well as the necessity to improve fire safety in residential and commercial buildings.
The industry of rigid foams has become very competitive, and there are several major players operating on the market. They include BASF SE, Dow Chemical Company, Huntsman Corporation, The Styrofoam Corporation, Covestro AG, Sealed Air Corporation, JSP Corporation, Armacell International S.A as well as Nitto Deko Corporation. These companies are focused on the launch of new products and expanding their reach to emerging regions. They also are focusing on enhancing their production methods to increase product quality and improve the efficiency of operations.
Recent Development
The market for rigid foam in the world has seen significant growth in recent times. This is due to the increase in construction work as well as the need for energy-efficient solutions for residential, commercial and industrial structures. The COVID-19 virus has increased demand for insulation products and insulation, as governments across all over the world are focused on promoting green building methods.
The segment of polyurethane remains the dominant segment in the rigid foam market thanks to its outstanding performance and numerous applications. The market is predicted to continue growing throughout the forecast time driven by a an economic boom and rapid urbanization growth in Asia Pacific countries.
In the automotive industry the use of rigid foam is to make lightweight components for vehicles and boost the efficiency of vehicles. It's also found in headliners and seats for vehicles and other components. Furthermore it is utilized to decrease the vibration and noise, and it aids in meeting safety requirements.
Segment
The market for rigid foam can be classified by type of product, application, and location. The type segment of the product comprises polyurethane (PU) and polyester and other. PU is predicted to have the most share of market because of its versatility and widespread use in the industries with a high end-to-end use.
The industry that is used for end-use includes furniture, packaging, construction and footwear, as well as automotive. Construction is expected to be the most dominant market with regards to growth in the coming years. This is due in part to the growing demand for buildings that are energy efficient and the increasing usage of insulation commercial and residential structures.
Rigid foam is a great choice in construction projects due to its exceptional insulation capabilities. It is also lightweight and simple to set up. Additionally, it offers an additional layer of protection against insects, water as well as fire. It also assists in closing gaps and decreasing air leaks.
The report provides a comprehensive review of the world Rigid Foam Market and analyzes its opportunities, trends threats, opportunities, and challenges. The study also provides an analysis of the competitive landscape and identifies the key players on the market.
The research is built on secondary and primary research. Secondary research involved the services of industry experts, as well as company annual reports, as in paid databases like Factiva as well as Bloomberg. Interviews were held with material manufacturers, supplier’s distributors, traders and manufacturers, along with government and regional organizations.
Regional Outlook
Rigid foams like polyisocyanurate (polyiso) and extruded polystyrene (XPS) as well as expanded polystyrene (EPS) are the most preferred materials for construction due to their insulation properties. They prevent air leakage, and aid in reducing energy consumption. In addition, they enhance the environment of buildings by preventing mold growth and the accumulation of moisture.
The market for rigid foam is experiencing significant growth within the APAC region. The rising environmental issues and the need for energy-saving solutions have led to the increased use of insulation products in the region. In addition, the increasing manufacturing activity and the government's assistance to boost infrastructure projects are boosting the growth of the market across this sector.
In terms of the industries that end up using it the market for rigid foam dominates the construction as well as construction industries. This industry makes use of insulated materials to meet the most advanced energy codes and provide comfort to inhabitants. The transportation and automotive industry is another important end-use industry that makes use of this product. Insulation made of rigid foam keeps the temperature of the interior stable in transport and storage vehicles, such as reefer trailers and trucks in addition to providing thermal comfort to passengers in trains, automobiles buses, planes, and other vehicles.
Additionally the use of rigid foam in gas and oil applications can also help boost the growth of the market. The material is used to provide insulation in pipelines onshore and offshore to stop freezing and ensure an appropriate fluid viscosity and protects expensive equipment. Additionally, it assists to maximize heat distribution and lower carbon emissions and waste.
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