The global rigid foam market accounted to US$ 73,786.7 Mn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 – 2027, to account to US$ 131,558.9 Mn by 2027.
European rigid foam market is driven by increasing demand for residential and commercial buildings for insulation application. Moreover, government policies to enhance the growth of the construction sector in countries such as Germany, France, and Italy is expected to boost the growth of the rigid foam market in Europe. Expanding demand for insulation from low-income households for enhanced energy efficiency is projected to boost the demand for rigid foam. Further, the rapid expansion of the automotive industry in Europe and the presence of large scale automotive manufacturers is also positively influencing the demand for rigid foam market in the region.
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- Dow Chemical Corporation
- BASF SE
- Borealis AG
- Sekisui Chemical Co.,Ltd
- Covestro AG
- Armacell International S.A.
- Huntsman International LLC
- Zotefoams Plc
Rigid foam sheaths are used as insulation materials to control indoor temperature and thereby reduce the building’s energy consumption. Rigid foams made from expanded polystyrene (EPS), extruded polystyrene (XPS), and polyisocyanurate are valued for their thermal insulation properties and offer durability and moisture control. Rigid foams are used in the exterior and interior walls, underfloor, and roof assemblies to reduce the effect of thermal bridges. They also reduce or eliminate the quantity of air leaks. Rigid foams are used in walls to increase the overall R-value or thermal resistance of the wall. The use of thermally resistant rigid foams in the construction of houses significantly contributes to energy saving while reducing greenhouse gas (GHG) emissions. The diversification of the application base of these foams in the building and construction industry is expected to boost the growth of the rigid foam market.
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Rigid foam insulators containing chlorofluorocarbons (CFCs) and HFCs have significantly been responsible for ozone depletion and global warming. Cellulose rigid foam insulation boards are environmentally friendly alternatives to rigid styrofoam and have started to gain traction in the rigid foam market. The newly developed cellulose rigid foam insulation boards are made from water-based solvents and do not contain harmful blowing agents with high GHGs which contribute to global warming and ozone depletion. The growing importance of eco-friendly rigid foams in the construction and building industry is expected to sway home builders to sustainable and environmentally friendly foams such as cellulose rigid foam insulation boards and rigid bio-composite polyurethane foam.
Based on type, the rigid foam market is bifurcated based on polyurethane foam, polystyrene foam, polypropylene foam, polyethylene foam, polyvinyl chloride foam, and others. The polyurethane foam segment dominated the global rigid foam market. Rigid polyurethane foam is widely used in refrigeration, construction, and packaging industry owing to its superior insulation properties and good dimensional stability. It is favored by these industries owing to its excellent mechanical strength at low density, and low flammability. The growing use of rigid polyurethane foam in myriad applications such as refrigerators, freezers, flotation modules, and architecture is expected to drive the growth for the rigid foam market all over the globe.
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