Freedonia Analysis: Strongest Foamed Plastic Insulation Growth Expected in Developing Nations

CLEVELAND, Nov. 7, 2019 /PRNewswire/ -- Through 2023, the strongest growth in the $21 billion global foamed plastic insulation market is expected in developing nations, particularly in the Asia/Pacific and Africa/Mideast regions, where large populations, expanding construction and manufacturing, and rising building standards are driving more intensive use of insulation. Freedonia's new Global Foamed Plastic Insulation study finds:

• China will see the largest volume demand gains of any country through 2023, or 45% of global increases, as nonresidential building construction continues to grow in the country, and the government increasingly requires the installation of insulation to improve energy efficiency and combat noise pollution.
  
  
• India is projected to be the fastest growing major market in the world, as building construction in the country continues to grow at a rapid pace.

Nevertheless, mature markets such as the US and Western Europe will also see strong growth due to more stringent energy efficiency policies and building codes requiring installation of higher-value insulation products, such as spray polyurethane foam (SPF), which is forecast to be the fastest-growing product type in both North America and Western Europe through 2023. SPF is highly suitable for meeting energy efficiency standards because it offers superior performance and customization to protect against air leaks.

For example, building codes throughout the region that call for more exterior wall insulation and protection from air leaks. SPF is highly suitable to meet these needs.

Want to learn more? Visit our webpage for Global Foamed Plastic Insulation: https://www.freedoniagroup.com/industry-study/global-foamed-plastic-insulation-3756.htm

Contact Corinne Gangloff for an interview with the analyst.

Additional Construction & Building Products topics can be viewed here: https://www.freedoniagroup.com/industry-category/build/construction-building-products.htm

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
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SOURCE The Freedonia Group