The global phenolic insulation market revenue was around US$ 0.95 billion in 2022 and is estimated to reach US$ 1.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2023 to 2031

Phenolic insulation is a plastic foam that forms an insulating core between two flexible tissue-faced layers in the production of phenolic insulation. It has a high proportion of closed cells and a fine cell structure. To create rigid phenolic insulation, high solids and phenolic resin are blended with a surface-acting agent.

Factors Influencing Market Growth

- The growing demand for infrastructure development in the commercial and residential sectors is the primary factor driving the growth of the phenolic insulation market.

- The high price of insulation may hamper the growth of the phenolic insulation market.

- The rebound in residential construction will boost the development of the construction industry, which is expected to have a positive effect on the growth rate of the phenolic insulation market.

- The rapid urbanization rate and the rising population growth in emerging regions have accelerated construction and building activities globally, which is a key factor propelling the growth of the phenolic insulation market during the forecast period.

Impact of COVID-19

The impact of COVID-19 pandemic had a negative influence on the phenolic insulation market because of the lowered demand from the construction industry as many projects were delayed due to the pandemic.

Regional Analysis

In 2022, Asia-Pacific dominated the phenolic insulation market in terms of revenue because of the increased requirement for HVAC systems, industrial and construction, and building industries.

Leading Companies

The leading prominent companies profiled in the global phenolic insulation market are: -

- Armacell
- Asahi Kasei Corporation
- BASF SE
- Beijing Coowor Network Technology Co., Ltd.
- Covestro AG
- Dow Inc
- Guibao
- Huntsman Corporation
- Johns Manville
- Kingspan Group
- LX Hausys
- Owens Corning
- Saint-Gobain
- Sekisui Chemicals Co. Ltd.
- SQ Group
- Jinan Shengquan Group
- Unilin(Xtratherm)
- Lapolla Industries, Inc.
- Recticel Group
- Other prominent key players

Segmentation Outline

The global phenolic insulation market segmentation focuses on Application, End-Use Industry, and Region.

Segmentation based on Application

- Duct
- Pipe
- Wall
- Roof
- Floor
- Others

Segmentation based on End-Use Industry

- HVAC system
- Industrial
- Building and construction
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa