Flexible Insulation Market

Growing preference for sustainable and eco-friendly insulation materials to fuel market growth

The requirement for energy efficiency in buildings and reducing greenhouse gas emissions are the primary drivers of the flexible insulation market CAGR. Flexible insulating materials are a type of material that includes elastomeric polymers, glass, and foamed plastics such as polyolefin or polystyrene. Flexible insulating materials have excellent insulating properties and structural flexibility, allowing for simple installation. Several research and development activities have been conducted over time to improve the insulating qualities of these materials to reduce energy loss and heat transmission. Flexible insulating materials provide better and are also used in consumer products such as refrigerators and water coolers.

These materials reduce heat transmission, save energy, and increase comfort and safety in buildings, industrial processes, and transportation.

For example, in August 2020, Johns Manville, a leading player in the insulation industry, launched a new flexible insulation product called 'JM CladStone,' made from naturally occurring volcanic stone and recycled materials. This product is designed to provide excellent thermal and acoustic performance while being eco-friendly.

Moreover, flexible insulation is widely used in the original equipment manufacturer (OEM) industry in products such as water coolers and air handling equipment. It is also used in plumbing to insulate ducts and the water heating system. Flexible insulation materials are in high demand due to their broad use in heating, ventilation, and air conditioning (HVAC) applications. This is due to increased construction activity, particularly in developing regions, and demand for energy-efficient HVAC systems.

Furthermore, advances in materials science and manufacturing processes have enabled the development of high-performance, low-cost insulation products, fueling the global growth of the flexible insulation market revenue.

ProAmpac, a pioneer in material science and flexible packaging, has announced that their patent-pending ProActive Recyclable® FiberCool curbside recyclable insulated bag will be available in 2024. Beyond a typical Self-Opening Sack (SOS), FiberCool provides food and grocery delivery services with a temperature retention solution in addition to the ease of curbside recyclability.

The Global Flexible Insulation Market Industry is experiencing a surge in demand driven by the increasing emphasis on energy efficiency across various sectors. Governments worldwide are implementing stringent regulations aimed at reducing energy consumption and greenhouse gas emissions. For instance, the adoption of flexible insulation materials in residential and commercial buildings is becoming a standard practice to enhance thermal performance. This trend is projected to contribute to the market's growth, with estimates indicating a market value of 9.9 USD Billion in 2024, reflecting a significant shift towards sustainable building practices.

By region, the report provides market insights into Europe, North America, Asia-Pacific, and the Rest of the World. The North American flexible insulation market accounted for USD 4.08 billion in 2022. It will likely exhibit a significant CAGR growth in the study period, owing to the rising demand for energy-efficient buildings, stringent government energy-efficiency regulations, and increased construction activity. Due to their outstanding thermal and acoustic insulation capabilities, flexible insulation materials are in high demand in regional residential and commercial sectors.

The expansion of the HVAC industry and the region's increasing acceptance of green buildings and energy-efficient technology all further contribute to the market's expansion. The rising demand for flexible insulation materials in the automotive and aerospace industries is also expected to propel the North American market in the coming years.

Also, the major countries studied in the market report are the U.S., German, Canada, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: FLEXIBLE INSULATION MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

The European flexible insulation market accounts for the second-largest global market share. The rising need for heating & plumbing systems, HVAC, acoustic insulation, and refrigeration will likely drive demand in Europe. Stringent regulations governing the insulating type and application in the region are further expected to support market growth. Commercial building expansion owing to rising demand for hotels, malls, office spaces, health institutes, and retail stores in economies such as Germany, the United Kingdom, and Spain will likely boost market demand for technical insulation over the projection period.

Further, the German flexible insulation market held the largest market share, and the U.K. flexible insulation market was the fastest-growing market in the European region.

The Asia Pacific Flexible Insulation Market is expected to grow at the fastest CAGR from 2023 to 2032. The region's growing population and fast urbanization will likely boost flexible insulation industry expansion throughout the forecast period. In addition, increased foreign investment in the region will likely fuel the market growth for technical insulation. The availability of raw resources at lower rates, combined with an ample supply of raw materials in economies such as China, India, Indonesia, and South Korea, is predicted to promote market development in the regional industrial and commercial sectors.

Moreover, the China flexible insulation market held the largest market share, and the Indian flexible insulation market was the fastest-growing market in the Asia-Pacific region.

Leading market players focus on innovation and developing new products to cater to the growing demand for energy-efficient insulation materials. Industry participants also use key market developments such as new product launches, partnerships, collaborations, mergers, and acquisitions to expand their geographical footprint and acquire a competitive edge. Major companies invest heavily in R&D to expand their product lines and enhance their global flexible insulation industry position.

Major players in the Flexible Insulation Market, including Saint-Gobain S.A., Owens Corning, Johns Manville, Armacell International S.A., and others, are investing in sustainable solutions to meet the growing demand for eco-friendly insulation materials. They are focusing on developing insulation materials made from natural and renewable sources such as wool, cotton, and cellulose. Flexible insulation industry participants further focus on supplying high-quality products and services to ensure client satisfaction. They spend on after-sales services such as maintenance and repair to develop long-term customer connections.

Johns Manville is a market leader in producing high-quality building and specialty materials. Fiberglass, spray foam, and mineral wool insulation are the company’s solutions for residential and commercial construction applications. Roofing, HVAC, and other specialty items are also available from Johns Manville. The corporation has a global presence, with manufacturing and sales sites in North America, Europe, and Asia. Johns Manville introduced the Sound-SHIELD acoustical board in October 2021. This product has a high Noise Reduction Coefficient (NRC) value of 0.95 and is intended to reduce sound transmission between interior walls and ceilings.

The Sound-SHIELD acoustical board is created from sustainable materials and emits less heat, making it an environmentally beneficial choice for building projects.

Owens Corning is a global leader in construction and industrial materials, manufacturing insulation, roofing, and fiberglass composites. The company was established in 1938 and is based in Toledo, Ohio, USA. The company has a large presence in North America and Europe. In March 2021, Owens Corning introduced FOAMULAR NGX, a new high-performance, flexible insulating solution. This new product has improved thermal performance, moisture, and fire resistance, making it an excellent choice for various applications, including walls, roofs, and foundation perimeters.