Board Insulation Market is Projected to Witness a CAGR of 4.0% Growing to Reach USD 20.22 Billion by 2034 | PMR

New York, USA, Dec. 18, 2024 (GLOBE NEWSWIRE) — Market Details

The global board insulation market size is projected to grow from USD 13.63 billion in 2024 to USD 20.22 billion by 2034, at a CAGR of 4.0%, according to a new report by Polaris Market Research.

Market Overview

Board insulations are rendered from durable, opaque sheets of specific kinds of foams. The most normally utilized foam commodities for rigid board insulation involve polyurethane, polystyrene, or polyiso. Because of their chemical frameworks, these kinds of boards are contemplated to be closed cells. They are more robust and more resistant to organic elements. Further they have an elevated R value than open cell insulation commodities. R values estimate the degree of insulation potential of varied commodities.

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Key Insights from Report

• The market for board insulation is significantly shaped by their common usage in walls, roofs, and floors to decrease heat removal and enhance building insulation function.
• The board insulation market segmentation is mainly based on material type, application, and region.
• Based on material type, the polyurethane (PUR) and polyisocyanurate (PIR) boards segment is expected to experience the highest CAGR during the forecast period.
• By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Board Insulation Market Scope

Market’s Growth Drivers

Technological Progressions: Technological progressions such as the advancement of fireproof and moisture-proof board insulations have augmented their relevance, covering several applications involving roofs, walls, and floors. In October 2020, Promat, an expert in passive fire safeguarding, initiated Promatect-XW, a 60-minute fire safeguarding board outlined for steel casings. This commodity seeks to enhance on-site productivity and is especially potent in safeguarding steel columns and beams, contributing to board insulation market growth.

Growing Ecological Worries: Growing ecological worries drive the construction industry to acquire green substances. Board insulation substances such as mineral wool, polystyrene, and polyisocyanurate (PIR) boards provide outstanding thermal resistance, decreasing the requirement for energy-consuming heating and cooling systems. The demand for these substances is speeding as building directives globally reinforce energy presentation and carbon discharge.

Productivity Enhancement: The non-native and industrial sectors concentrate on enhancing productivity and encountering stringent ecological directives. Board insulation offers better thermal presentation, assisting in decreasing energy intake in the extensive commercial, industrial, and public frameworks. These applications frequently need substances that can combat difficult ambiances and provide enduring durability, which board insulation conveys.

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List of Board Insulation Market Key Players

• Huntsman International LLC.
• BASF
• Knauf Insulation
• Johns Manville
• Saint-Gobain
• Lloyd Insulations (India) Limited
• DOW
• DUNA CORRADINI S.p.A.
• Rogers Corporation
• Owens Corning
• Polybond Insulation Pvt Ltd

Geographical Analysis

In 2024, North America accounted for the largest board insulation market share. The market was strengthened by stringent building energy efficiency directives and escalating demand for justifiable construction substances. The US and Canada have strong building codes that encourage the usage of energy-efficient substances, prompting the acquisition of insulation solutions.

Asia Pacific is also expected to grow at the highest CAGR during the forecast period owing to speedy urbanization, industrialization, and infrastructural advancement covering prominent economies such as China, India, and Japan. The region’s construction sector is encountering sizeable growth propelled by surging demand for residential, commercial, and industrial buildings.

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Market Segmentation

By Material Type Outlook

• Polyurethane (PUR) & Polyisocyanurate (PIR) Boards
• Extruded Polystyrene (XPS) Board
• Expanded Polystyrene (EPS) Boards
• Mineral Wool Boards
• Cork Insulation Boards

By Application Outlook

• Thermal Insulation
• Sound Insulation
• Fire Insulation
• Waterproof Insulation

By Regional Outlook

• North America
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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