Polyisocyanurate Insulation Market Projected to Reach a Value of US$ 19,030.6 Million by 2028
With changing global scenario in terms of energy saving initiatives, innovations and advancements in in insulation technology, the global Polyisocyanurate Insulation Market is likely to undergo major changes major changes in the coming years. Growing building and construction industry is expected to create positive impact on the growth of polyisocyanurate insulation market.
Future Market Insights (FMI) has estimated Polyisocyanurate
Insulation Market to witness a year over year growth of 6.3% in
2022 reaching a value of about US$ 13,295.5 Mn by the end of
2022. The global business is further projected to reach a value of US$
19,030.6 Mn By the end of the forecast period.
Future Market Insights envisages that the demand for
polyisocyanurate insulation is projected to expand at robust CAGR of 6.1% in terms
of value during the forecast period, 2022-2028. Moreover, the valuation of
polyisocyanurate insulation is forecast to reach US$ 19,030.6 Mn by the end of
2028, as per the report. Growing awareness and importance of energy saving is
the key driver, positively impacting the growth of polyisocyanurate insulation
market.
Rigid foam/board type insulation is expected to dominate the
North America polyisocyanurate insulation market and spray type is likely to
gain traction owing to its easy processability and application in wall
assemblies. Growth in North America will mostly be driven by innovative product
development and adoption of new regulations.
Request a Report Sample to Gain Comprehensive Insights @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6164
Diverse Benefits Making Polyisocyanurate Insulation
Popular in Commercial and Residential Construction Markets
Application of polyisocyanurate insulation includes cold
storage warehouses, private offices, medical buildings, airports and other
industries that requires insulation materials.
Consumers are increasingly adopting sources for
energy-efficient outcomes and moving towards sustainability, further driving
the adoption of polyisocyanurate insulation materials across industry
verticals. Considered stable for a wide range of temperature, builders are
increasingly using light weighted polyisocyanurate insulation materials for
conventional roof and wall assemblies.
Most importantly, sales of polyisocyanurate insulation
materials is significantly rising considering key environment friendly aspects
such as being CFC, HCFC, HFC free blowing agent along with zero ozone depletion
potential.
Polyisocyanurate insulation is used in over 70% of
commercial and residential markets for both wall and roof applications. The
construction industry is under immense pressure to achieve increasing levels of
energy performance and minimize environmental impact associated with increased
energy consumption.
Intensifying Demand for Efficient Cold Chain Operations
to Fuel Polyisocyanurate Insulation Sales
Close to US$ 750 Bn worth of food being wasted or lost, each
year is putting global trade agencies in a tough spot. Since, most of these
losses stem from poor supply cold chain networks along with lack of trained
personnel involved in storage and transportation, significant demand for
refrigerated trucks and carriers with efficient insulation is anticipated to drive
the polyisocyanurate insulation adoption.
Browse Full Report: https://www.futuremarketinsights.com/reports/polyisocyanurate-insulation-market
Global trade associations and organizations are focusing on
developing a robust global cold chain network through improved regulatory
framework, encouraging investment in development of efficient cold chain
networks, utilizing polyisocyanurate insulation material in the refrigerated
freight services market.
Recyclable and in accordance with new insulation standards,
polyisocyanurate insulation possesses practically no global warming potential
and zero ozone depletion potential, making it a widely used eco-friendly
insulation material, with highly attractive growth prospects in the coming
years. Moreover, an array of initiatives have been taken up by Governments, in
a bid to reduce CO2 emissions.
Growing public awareness apropos of climate change has
proliferated the need for renewable energy systems and energy waste reduction
initiatives. This increasing public awareness has also resulted in immense
opportunities for manufacturers to develop high-performance insulation
products. Using polyisocyanurate insulation would contribute directly to the
initiatives associated with energy conservation, eventually mitigating the
effects of global warming.
Innovative product development to improve efficacy,
expansion of production capacity to cater to the growing demand for
polyisocyanurate insulation in niche applications, and other feasibility
studies coupled with strengthening distribution network to maintain the
adequate supply of polyisocyanurate insulation are some key strategies adopted
by top players to solidify their positions in the market.
Comments
Post a Comment