Global Thin Insulation Market: Overview
Insulation needs to be thick but in certain cases space is as issue hence thin insulation is needed to tackle such problems. Different kind of plastic foams is used in various applications of the thin insulation, which includes polyimide, polyisocyanurate insulation, XPS, polytetrafluoroethylene, EPS, phenolic foams, and polyurethane foams. These plastic foams possess excellent thermal resistivity hence they are widely used in automotive, construction, and oil & gas industries. Commonly preferred plastic foams size is 10mm to 20mm in thickness; it may assist in resolving space and reliability issues in the construction industry.
Global Thin Insulation Market: Growth Factors
Plastic foams are extensively used in the automotive industry owing to their excellent thermal resistivity coupled with developments in building thermal applications and growing infrastructure development activities. Increasing use of plastic foams in various industries such as automotive, oil & gas, and others are fuelling thin insulation market demand in the coming years. The buildings that have thin walls or timber constructions need additional insulation support for a better result thus increasing the demand for thin insulation. Thin insulation in automotive sector will offer improved braking performance and prevent sound and heat transfer in the vehicle which in turn will improve the growth of the market.
Global Thin Insulation Market: Segmentation
The global thin insulation market is segmented on the basis of application, material, and type. The application segment of the market is categorized into thermal packaging, wires & cables, building thermal insulation, pipe coatings, automotive, and others. The building thermal insulation is the largest application of thin insulation in the global market. Based on the material, the market is segregated into plastic foams, metals, fiberglass, aerogels, silica aerogels, and others. The type segment is fragmented into coatings, foams, vacuum insulation panels, foils, sheets & films, and others.
Global Thin Insulation Market: Regional Analysis
Asia-Pacific is the leading region in the global thin insulation market where China is the major consumer of thin insulation. Rising rural to urban migrations that lead to inspiring housing construction activities in urban areas anticipates fueling the thin insulation materials market. Growth and development in the construction industry coupled with advanced manufacturing process also boost the market in Asia-Pacific region. Emerging economies such as China, India, and Indonesia are expecting to witness a significant growth in the near future owing to increasing demand from the building & construction industry. Europe is emerging as a lucrative market owing to high demand for the thin insulations. North America is expected to have a significant market growth in the near future.
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Global Thin Insulation Market: Competitive Players
Major leading players in the global thin insulation market include Cabot Corporation, Armacell International S.A., Owens Corning, Dow Chemical Company, Johns Manville, and 3M Company. Other influencing players in the market are Kingspan Insulation, Actis Insulation Ltd., ContiTech AG, Xtratherm, BASF Polyurethanes GmbH., Celotex Saint-Gobain, Rockwool Group, BNZ Materials, Inc., and Huntsman Corporation.