NEWARK, Del, March 06, 2024 (GLOBE NEWSWIRE) -- The global flexible insulation market is anticipated to reach a valuation of US$ 10.0 Billion in 2024, driven by collaborative research and development. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.6% between 2024 and 2034, and reaching a total valuation of approximately US$ 17.2 Billion by 2034.
Growing emphasis on sustainability and environmental stewardship drives the shift towards renewable and bio based insulation materials derived from natural sources such as recycled fibers, cellulose, hemp, and wool. Bio based insulation products offer renewable alternatives to conventional materials and reduce the environmental footprint of insulation systems.
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Stringent building codes and regulations mandating minimum thermal insulation requirements in residential, commercial, and industrial structures drive the demand for flexible insulation materials. Compliance with energy efficiency standards, fire safety codes, and environmental regulations necessitates the use of high performance insulation products in construction projects.
Increasing globalization and trade liberalization facilitate the exchange of flexible insulation products, raw materials, and technologies across international borders. Free trade agreements, tariff reductions, and market liberalization policies create opportunities for manufacturers to expand their market reach, access new customers, and establish strategic partnerships in global markets.
Convergence of technologies from diverse disciplines such as materials science, nanotechnology, and digital manufacturing enables the development of innovative flexible insulation materials with advanced properties and functionalities. Integration of nanomaterials, phase change materials, and aerogels enhances the thermal performance, durability, and sustainability of insulation products.
Adoption of digitalization, automation, and Industry 4.0 technologies in manufacturing processes enhances production efficiency, quality control, and supply chain management in the flexible insulation industry. Digital design tools, simulation software, robotics, and additive manufacturing techniques optimize product development, customization, and mass production of insulation materials.
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Key Takeaways from the Market Study
- Global flexible insulation market was valued at US$ 9.4 Billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 6.5%.
- The market in Japan is expected to expand at a CAGR of 6.9% through 2034.
- By material, the aerogel segment to account for a CAGR of 5.2% through 2034.
- The market in the United Kingdom is expected to expand at a CAGR of 6.8% through 2034.
- In terms of type, the acoustic insulation segment to account for a market share of 5.1% in 2024.
Adoption of Building Information Modeling software and prefabrication techniques streamlines the design, construction, and installation of flexible insulation systems in building projects. BIM enabled collaboration, prefabricated insulation panels, and modular construction methods accelerate project timelines, minimize on site labor costs, and improve installation accuracy, says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
Prominent players in the flexible insulation market are Armacell, BASF SE, ContiTech AG, Fletcher Insulation, Johns Manville, Kingspan Group, Owens Corning, Saint-Gobain, Superlon, and Thermaxx Jackets, among others.
Company Portfolio
- Johns Manville is known for its comprehensive portfolio of insulation products, including flexible insulation materials for HVAC, appliances, and industrial applications. The company emphasizes product quality, reliability, and customer support, catering to the needs of diverse market segments.
- Knauf Insulation is a global manufacturer of insulation materials, including flexible insulation products made from recycled content and natural fibers. The company emphasizes energy efficiency, product innovation, and sustainability, serving residential, commercial, and industrial markets worldwide.
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Segmentation Analysis of the Flexible Insulation Market
By Material:
- Aerogel
- Cross Linked Polyethylene
- Elastomer
- Fiberglass
- Others
By Type:
- Acoustic Insulation
- Electrical Insulation
- Thermal Insulation
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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