Flexible Insulation Market Size

Global Flexible Insulation Market Overview

Flexible Insulation Market Size was valued at USD 8.9 billion in 2022. The flexible insulation industry is projected to grow from USD 9.38 Billion in 2023 to USD 14.4 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2023 - 2032). Growing demand from end-use industries like automotive, construction, and aerospace, an increasing focus on energy conservation, and lowering greenhouse gas emissions are the primary market drivers propelling Flexible Insulation Market share.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Flexible Insulation Market Trends

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  Growing preference for sustainable and eco-friendly insulation materials to fuel market growth

  
  

The requirement for energy efficiency in buildings and reducing greenhouse gas emissions are the primary drivers of the flexible insulation market CAGR. Flexible insulating materials are a type of material that includes elastomeric polymers, glass, and foamed plastics such as polyolefin or polystyrene. Flexible insulating materials have excellent insulating properties and structural flexibility, allowing for simple installation. Several research and development activities have been conducted over time to improve the insulating qualities of these materials to reduce energy loss and heat transmission. Flexible insulating materials provide better and are also used in consumer products such as refrigerators and water coolers. These materials reduce heat transmission, save energy, and increase comfort and safety in buildings, industrial processes, and transportation.

With the growing awareness of environmental issues and the need for sustainable development, many consumers now opt for eco-friendly insulation materials with a low carbon footprint from renewable resources. This trend is being driven by the implementation of strict environmental regulations and the increasing focus on reducing energy consumption. Major players in the flexible insulation market are investing in research and development to develop new and innovative eco-friendly insulation materials to keep up with this trend. For example, in August 2020, Johns Manville, a leading player in the insulation industry, launched a new flexible insulation product called 'JM CladStone,' made from naturally occurring volcanic stone and recycled materials. This product is designed to provide excellent thermal and acoustic performance while being eco-friendly.

Moreover, flexible insulation is widely used in the original equipment manufacturer (OEM) industry in products such as water coolers and air handling equipment. It is also used in plumbing to insulate ducts and the water heating system. Flexible insulation materials are in high demand due to their broad use in heating, ventilation, and air conditioning (HVAC) applications. This is due to increased construction activity, particularly in developing regions, and demand for energy-efficient HVAC systems. Furthermore, advances in materials science and manufacturing processes have enabled the development of high-performance, low-cost insulation products, fueling the global growth of the flexible insulation market revenue.

ProAmpac, a pioneer in material science and flexible packaging, has announced that their patent-pending ProActive Recyclable® FiberCool curbside recyclable insulated bag will be available in 2024. Beyond a typical Self-Opening Sack (SOS), FiberCool provides food and grocery delivery services with a temperature retention solution in addition to the ease of curbside recyclability.

Flexible Insulation Market Segment Insights

Flexible Insulation Type Insights

Based on type, the Flexible Insulation Market segmentation includes acoustic, electrical, and thermal insulation. The thermal insulation category generated the most income (44%). Thermal insulation product demand has increased dramatically in recent years, owing mostly to the need for energy conservation in the industrial, commercial, and residential sectors. Flexible insulation materials reduce heat transmission through walls, roofs, and floors, lowering energy consumption and the carbon footprint. The expanding construction industry and rising demand for thermal insulation materials in various end-use industries will likely drive segment expansion in the global market.

Flexible Insulation Material Insights

The Flexible Insulation Market segmentation based on material includes aerogel, cross-linked polyethylene, elastomer, fiberglass, and others. The fiberglass segment dominated the global market, accounting for 37% of market revenue (3.3 billion), owing to its non-combustible, lightweight, high-tear strength, and corrosion-resistant nature. Fiberglass is used in multiple applications, including thermal insulation for HVAC pipework, flexible air ducts, household and commercial refrigerators and freezers, jet-engine ducting, aviation components, and commercial construction. Besides, fiberglass insulation provides greater design flexibility. Greater insulation levels can be added in some building areas to improve overall thermal performance and compensate for places with lower thermal values, such as windows and doors. It allows for a wide range of R-Values, providing the specifier with more alternatives for meeting provincial and national energy code standards.

Figure 1: Flexible Insulation Market by Material, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The elastomer segment is expected to grow at the fastest CAGR in the flexible insulation industry in the coming years. Elastomers have many benefits, including flexibility, durability, and resistance to heat, moisture, and chemicals. These characteristics make them excellent for various applications, including HVAC, refrigeration, and industrial insulation. The emerging need for energy-efficient solutions and the increased emphasis on lowering greenhouse gas emissions have accelerated the development of elastomer-based insulation materials. Additionally, using elastomers in manufacturing insulation materials has enabled the production of thinner and lighter insulation solutions, making them ideal for space-constrained applications.

Flexible Insulation Regional Insights

By region, the report provides market insights into Europe, North America, Asia-Pacific, and the Rest of the World. The North American flexible insulation market accounted for USD 4.08 billion in 2022. It will likely exhibit a significant CAGR growth in the study period, owing to the rising demand for energy-efficient buildings, stringent government energy-efficiency regulations, and increased construction activity. Due to their outstanding thermal and acoustic insulation capabilities, flexible insulation materials are in high demand in regional residential and commercial sectors. The expansion of the HVAC industry and the region's increasing acceptance of green buildings and energy-efficient technology all further contribute to the market's expansion. The rising demand for flexible insulation materials in the automotive and aerospace industries is also expected to propel the North American market in the coming years.

Also, the major countries studied in the market report are the U.S., German, Canada, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: FLEXIBLE INSULATION MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The European flexible insulation market accounts for the second-largest global market share. The rising need for heating & plumbing systems, HVAC, acoustic insulation, and refrigeration will likely drive demand in Europe. Stringent regulations governing the insulating type and application in the region are further expected to support market growth. Commercial building expansion owing to rising demand for hotels, malls, office spaces, health institutes, and retail stores in economies such as Germany, the United Kingdom, and Spain will likely boost market demand for technical insulation over the projection period. Further, the German flexible insulation market held the largest market share, and the U.K. flexible insulation market was the fastest-growing market in the European region.

The Asia Pacific Flexible Insulation Market is expected to grow at the fastest CAGR from 2023 to 2032. The region's growing population and fast urbanization will likely boost flexible insulation industry expansion throughout the forecast period. In addition, increased foreign investment in the region will likely fuel the market growth for technical insulation. The availability of raw resources at lower rates, combined with an ample supply of raw materials in economies such as China, India, Indonesia, and South Korea, is predicted to promote market development in the regional industrial and commercial sectors. Moreover, the China flexible insulation market held the largest market share, and the Indian flexible insulation market was the fastest-growing market in the Asia-Pacific region.

Flexible Insulation Key Market Players & Competitive Insights

Leading market players focus on innovation and developing new products to cater to the growing demand for energy-efficient insulation materials. Industry participants also use key market developments such as new product launches, partnerships, collaborations, mergers, and acquisitions to expand their geographical footprint and acquire a competitive edge. Major companies invest heavily in R&D to expand their product lines and enhance their global flexible insulation industry position.

Major players in the Flexible Insulation Market, including Saint-Gobain S.A., Owens Corning, Johns Manville, Armacell International S.A., and others, are investing in sustainable solutions to meet the growing demand for eco-friendly insulation materials. They are focusing on developing insulation materials made from natural and renewable sources such as wool, cotton, and cellulose. Flexible insulation industry participants further focus on supplying high-quality products and services to ensure client satisfaction. They spend on after-sales services such as maintenance and repair to develop long-term customer connections.

Johns Manville is a market leader in producing high-quality building and specialty materials. Fiberglass, spray foam, and mineral wool insulation are the company’s solutions for residential and commercial construction applications. Roofing, HVAC, and other specialty items are also available from Johns Manville. The corporation has a global presence, with manufacturing and sales sites in North America, Europe, and Asia. Johns Manville introduced the Sound-SHIELD acoustical board in October 2021. This product has a high Noise Reduction Coefficient (NRC) value of 0.95 and is intended to reduce sound transmission between interior walls and ceilings. The Sound-SHIELD acoustical board is created from sustainable materials and emits less heat, making it an environmentally beneficial choice for building projects.

Owens Corning is a global leader in construction and industrial materials, manufacturing insulation, roofing, and fiberglass composites. The company was established in 1938 and is based in Toledo, Ohio, USA. The company has a large presence in North America and Europe. In March 2021, Owens Corning introduced FOAMULAR NGX, a new high-performance, flexible insulating solution. This new product has improved thermal performance, moisture, and fire resistance, making it an excellent choice for various applications, including walls, roofs, and foundation perimeters.

Key Companies in the flexible insulation market include

• Armacell


• BASF SE


• ContiTech AG


• Fletcher Insulation


• Johns Manville


• Kingspan Group


• Owens Corning


• Saint-Gobain


• Superlon


• Thermaxx Jackets

Flexible Insulation Industry Developments

February 2020 The Rockwool Group has announced the acquisition of the Swedish acoustic ceilings manufacturer Parafon. Rockwool's Rockfon acoustic ceiling division would absorb Parafon, combining two top names in stone wool indoor acoustic systems. Rockfon increases its reach into Northern Europe and enhances its position in stone wool with its remarkable acoustic qualities, notably for use in European schools, workplaces, and hospitals.

August 2020 Owens Corning introduced FOAMULAR NGX (Next Generation Extruded), a new product range. The patented blowing agent used in this extruded polystyrene (XPS) foam product seeks to reduce global warming potential (GWP) by 90%.

In 2024, Veyzle gathers siliconized and coated paper production waste at Mondi's test sites in Jülich, Germany, and Heerlen, the Netherlands, in order to sort, shred, and bail the various papers. These are subsequently delivered to WEPA, where the coated sheets are valued using the company's cutting-edge repulping technique to produce paper towels, toilet paper, and other paper-based hygiene goods. The operations of Mondi, Veyzle, and WEPA are all conducted nearby in order to reduce as much as possible.

Flexible Insulation Market Segmentation

Flexible Insulation Material Outlook

• Aerogel


• Cross-Linked Polyethylene


• Elastomer


• Fiberglass


• Others

Flexible Insulation Type Outlook

• Acoustic Insulation


• Electrical Insulation


• Thermal Insulation

Flexible Insulation Regional Outlook

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  North America

  
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • The U.K.
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America