Global structural insulation panel market is driven by rapid innovations & technological development in the construction sector. The respective technologies consist of several precast, prefabricated, and modular building systems, particularly designed for commercial & residential sectors. Moreover, growing population along with increasing consumer concerns pertaining to the energy conservation building materials will promulgate the industry growth. Developing economies such as China, India, Mexico, and Brazil will substantially impact product development owing to a large customer base coupled with inclining preferences towards modern building installations.
North America accounted for more than 35% of the overall structural insulation panel demand in 2017. Favorable regulatory guidelines and rising consumer awareness pertaining to the energy conservation along with the government policies for GHG emissions reduction will provide a positive outlook for the regional market growth. For instance, government initiatives such as the Weatherization Assistance Program that promotes thermal insulation and helps in reducing the heating & cooling costs for low-income groups will augment the overall regional business expansion.
Asia Pacific will register over 8% CAGR up to 2024. Increasing green building technology penetration along with growing consumer demand for high-performance & cost-effective materials for building construction will boost the regional growth. Surging infrastructure expenses for the construction of supermarkets, offices, hotels, and houses with high thermal resistance materials will propel the regional industry landscape
EPS is anticipated to surpass 28 million square feet demand by 2024. Key factors, including reduced carbon emissions and low energy consumptions will enhance the product demand. Moreover, stringent government policies for monitoring the CO2 releases will support product penetration in the industry. Houses made with R-Controlled SIPs cut carbon emissions up to 60 to 90 tons of annually. EPS Building eliminates around 2 to 3 tons of carbon particles annually as compared to the 2x dimensional timber houses.
Glass wool based structural insulation panels market accounted for more than 27% of the total industry share in 2017. Key features such as non-combustible, lightweight, sound proofing, superior thermal resistance at both low & high temperatures, and better elasticity will fuel product penetration. Strong product demand to separate walls in a high-grade building, ceilings, and air conduits will stimulate the industry growth.
Global Structural Insulation Panels (SIP) Market size was valued at over USD 350 million in 2017 and is anticipated to witness over 6.5% CAGR up to 2024.
Growing population, rapid urbanization, and construction sector growth are among the key factors propelling industry expansion over the forecast period. New building constructions with improved energy-efficient solutions for residential and commercial sectors in several countries are fueling the SIPs market demand.
For instance, government initiative's implementation in the U.S. and Canada with respect to Zero Energy Buildings (ZEB) by reducing energy consumption on an annual basis is expected to fuel SIP demand.
Technological advancements enabling easy installation methods, efficient insulation products, with excellent soundproof materials are boosting the industry growth. Rising applications of the highest R-value materials in small & large-scale buildings will augment SIPs market size. R-value determine the covering material effectiveness, higher the R-value greater is the effectiveness of insulating material. Cooling & heating applications, accounts over 50% energy usage in an average building. Hence, SIPs will provide significant reductions in the energy bills.
The most common types of structural insulated panels (SIPs) are:
- Expanded polystyrene insulated panels: The vast majority of SIPs are being manufactured using expanded polystyrene (EPS) foam board insulation, a closed-cell type of insulation. This type of insulation, when used in structural insulated panels, offers an R-value (measurement of insulation) of R-4 to R-5 per inch of thickness. Total R-value for these panels can be as high as 13.8.
- Polyurethane or polyisocyanurate insulated panels: Polyurethane and polyisocyanurate SIPs have a nominal R-value of around R-6 to R-7 per inch of thickness. This type of SIP panel is more expensive than EPS panels, but it is more resistant to water and fire and has a higher R-value. These types of panels, when used with metal surface skins, are sometimes used instead of prefabricated tilt-up walls for construction, thanks to their strength and ease of installation.
- Compressed straw-core insulated panels: Compressed straw-core insulated panels are "greener" than other types of SIPs because they are manufactured using renewable and recycled waste agricultural straw. These types of panels, although more environmentally friendly, do not produce the high R-values of other types of SIPs.
Structural insulated panels (SIPs) are a high performance building system for residential and light commercial construction. The panels consist of an insulating foam core sandwiched between two structural facings, typically oriented strand board. SIPs can be fabricated to fit nearly any building design. The result is a building system that is extremely strong, energy efficient and cost effective.
Building with SIPs generally costs about the same as building with wood frame construction when you factor in the labor savings resulting from shorter construction time and less jobsite waste.
Other savings are realized because smaller heating and cooling systems are required with SIP construction.
The total market for thermal insulation products in Europe stood at 259 million m3 in 2017, with growth forecast at a CAGR of 2.5 % to 2021.
Western Europe accounted for 58 % of the European thermal insulation consumption, and the market is forecast to show modest growth at a CAGR of 2.0 % to 2021. Eastern Europe continues to drive growth with a CAGR of 4.2 % forecast to 2021.
Although the construction industry has remained relatively subdued since the financial crisis in 2008, concerns over improved energy efficiency in buildings and rising energy prices have boosted demand for thermal insulation materials. Regulatory authorities are highlighting the importance of minimizing heat loss through the building envelope and are adopting legislation encouraging zero energy buildings. Retrofit construction is now also regulated and minimum energy performance standards have been set, which are a key driver for thermal insulation materials. Commercial and domestic buildings continue to represent the bulk of the demand at 86 % for thermal insulation materials in Europe, with the overall use in industrial applications remaining considerably smaller at 14 % of the market.
Foamed Plastic, classified as EPS and XPS, is expected to witness a rapid growth owing to its applications in ducts, equipment functioning under below-ambient temperatures, because of its high compressive strength, etc.
Glass Wool, on account of its features, such as reduced energy consumption, personnel safety, low moisture absorption and easy installation, is used for insulating heat exchangers, expansion joints and other industrial equipment.
Stone wool is gaining significance owing to its advantages such as sufficient heat isolation, fire safety, dimensional stability, high chemical resistance, vapor permeability; enabling its applications in the insulation of tanks, industrial boilers, and vessels, with allied benefits of surface temperature minimization and heat loss resistance.
Aerogel is claimed as the lightest solid material, as compared to other materials. It is recognized for its features such as energy conservation, reduction of jacketing and banding, etc. It is used for large bore-piping, vessels, etc.
The distinguishing feature of perlite is its ability to expand four to twenty times its original volume enabling its applications for insulating ovens and high temperature foundry cores & molds.
Global insulation market share is highly fragmented due to the presence of a large number of industry players operating in the comprehensive market. Several multinational corporations are expected to adopt modern technologies to gain competitive edge. Regional and small-scale manufacturers are expected to form long term contracts with raw material suppliers. Owens Corning, Rockwool International, Knauf Gips, Armacell and Huntsman International are some of the major revenue contributors in the global insulation market.
The industry players in are involved in several strategies to gain competitive advantage and improve their market share. Mergers & acquisitions, joint ventures, collaborations, product innovations, production capacity expansions and supply agreements are among the strategies adopted by industry participants. Companies are also focusing on integrating the value chain including forward and backward integrations. For instance, Huntsman International is backward integrated with operations in polyurethane production as well as insulation manufacturing.
Global Industrial Insulation market revenue by product
Global insulation market growth is driven by rapid technological advancement in the industrial sector. Industrial demand includes coverings for boilers, machinery, pipes, and tanks. HVAC application includes coverings and linings for HVAC equipment. Increasing trend of insulating materials in OEM applications such as major household appliances including refrigerated transport, aircraft, shipping, motor vehicles, fire doors, containers, solar panels, and coolers will provide a strong business outlook for new industry participants.
Developed regions are expected to have a more positive outlook towards sustainable building measures as fallout from global financial crisis recedes, government support and consumer incomes improve. Emerging economies such as China, India, South Africa, Brazil, and Mexico will significantly play a bigger role in overall market development owing to huge consumer base along with shifting trend for advanced building techniques.
Fiberglass/glass wool insulation market registered over 6 billion square feet sale in 2017. It is widely used in attics, critical opening spaces, and wall cavities. key features such as better elasticity, soundproofing, lightweight, non-combustible, and exceptional thermal defence performance at both high & low temperatures likely to propel product demand. Strong application scope for improving the energy consumption of the buildings, offering a comfortable environment and reducing the fuel utilization will positively influence the product penetration over the forecast timeframe.
Plastic foam will witness growth over 3.5% up to 2024. EPS offers high performing padding used in the external wall system. The product offers enhanced U-values and minimizes the risk of water penetration and condensation. Availability of the product in various thickness ranging from 20mm to 100mm depending upon the building specification and customer requirement will positively drive the product penetration.
Global Thermal Insulation Materials market is projected to display a robust growth represented by a CAGR of 5.8 % during 2018 to 2023.
The market is primarily driven by rising construction and industrial activities along with the concern of improving energy efficiency. Asia Pacific region is the biggest market in the current period and expected to lead in forecast period. In the forecast period, APAC region will witness strong growth backed by burgeoning construction and industrial activities in emerging countries such as China, India, Japan, South Korea, Indonesia, Malaysia and others.
The global market for Thermal Insulation Material is mainly driven by the growth and development of residential and commercial construction sector. Additionally, growth in industries related to power, oil & gas, chemicals, automotive, HVAC, Pulp & Paper etc. is also significantly driving the demand of thermal insulation material. The key utilization of thermal insulation materials is to prevent significant heat flow from one side of the insulation to another from buildings and industrial process. Moreover, global initiatives to reduce carbon emission by improving energy efficiency will boost the demand of thermal insulation materials in the forecast period.
Increasing energy costs have resulted in greater operational expenses across a majority of industries. As a result, companies worldwide are actively inclined toward employing acoustic and thermal insulation technologies to challenge rapidly increasing costs.
High rate of industrialization and rapid urbanization in emerging markets of China and India, along with Philippines, Malaysia, Thailand, and Indonesia, have driven the need for quality infrastructure. Increasing construction spending to improve residential, public, and industrial infrastructure in Asia Pacific, coupled with energy conservation initiatives, is expected to drive regional demand for insulation over the forecast period.
Rising demand for wall and blanket insulation in residential, commercial, and industrial buildings is also expected to boost market growth over the forecast period. Major companies are adopting insulation in order to reduce their operational costs by limiting energy utilization. Increasing presence of manufacturing companies in various countries across the world, including China, India, Brazil, and Mexico, is expected to drive demand for insulation materials in industrial buildings.
The Global Insulation Market size was worth over USD 52 billion in 2017 and is expected to grow with a CAGR (Compound Annual Growth Rate) of 7.5% from 2018 to 2024.
The major growth driver for this market is growing demand of insulation solutions in non-residential and residential applications, owing to rising importance of energy conservation and increasing energy costs, is a major trend observed in the global market.
The U.S. government through the Weatherization Assistance Program (WAP) to promote thermal insulation in low-income households via federal funding are likely to boost market growth in North America. Sufficient funds sanctioned by the U.S. U.S. Government initiatives to reduce greenhouse gas emissions, coupled with increasing construction spending across the globe, are projected to drive global demand. Building regulations pertaining to energy conservation are expected to strengthen demand for foamed plastic insulation in India and China. Increasing industrial output, rapid urbanization, and rising income levels in emerging markets of Asia Pacific have steered the need for upgraded infrastructure.
North America Insulation Market, By Application
There's a great deal happening throughout the energy industry, including the greater adoption of digital technologies to increase performance, all of which spell increased opportunities for the insulation industry.
While global energy demand will continue to increase, growth will be slower, an average of about 0.7% a year through 2050, compared to an average of more than 2% from 2000 to 2015, according to "Energy 2050: Insights from the Ground Up" by McKinsey report.
"The decline in the rate of growth is due to digitization, slower population and economic growth, greater efficiency, a decline in European and North American demand, and the global economic shift toward services, which use less energy than the production of goods" Nyquist writes.
Greater efficiencies indeed: by 2035, fossil-fueled cars will need 40% less gas to run, and by 2050, the amount of energy used to produce each unit of GDP will be half what it was in 2013.
L'esigenza di ottenere degli isolanti termici che assicurino un'effettiva protezione dal fuoco non viene completamente soddisfatta dalle imprese che attualmente operano nel mercato.
Le aziende più importanti che operano negli Emirati Arabi nei settori ETICS (External Thermal Insulation Coating Systeme) e HVAC (Heating, Ventilation and Air Conditioning) interessate sono oltre un centinaio suddivise tra produttori locali, filiali di produttori esteri e importatori.
A causa dei recenti incidenti verificati in alcuni edifici, le normative in materia di incendio sono diventate molto stringenti e imperative.
La norma di riferimento è la ASTM E 84 e prevede:
- Insulation for buildings: Flame spread < 25; Smoke index < 450.
- Ducting (HVAC): Flame spread < 25; Smoke index < 50.
Si ricercano prodotti più performanti che avrebbero un facile accesso ad un mercato globale. La prevenzione incendi riguarda numerosi Paesi.
Le dimensioni del mercato potenziale negli U.A.E. varia da 30 a 50 milioni di metri quadrato all'anno.
Segmentazione in base all'applicazione:
- ETICS: 55-60%
Additional info here