Europe MDI-based PU Technical Insulation Industry Overview
The Europe MDI-based PU technical insulation market size was estimated at USD 361.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.1% from 2021 to 2028.
Rising investments towards the development of the cold chain sector have led to an increased usage of large-level refrigeration systems, thus driving the demand for MDI-based PU technical insulation over the forecast period. Europe was one of the worst-hit regions due to the pandemic in 2020, leading to the temporary closure of number of industrial projects, including the construction of new power generation plants and commercial buildings. The industry suffered a major setback, owing to the lack of product demand on account of delayed maintenance activities from the industrial sector.
Gather more insights about the market drivers, restrains and growth of the Europe MDI-based PU Technical Insulation Market
Key raw materials including MDI and polyols are derived from crude oil. The pandemic also led to a sharp decline in crude oil prices, owing to a lack of demand. However, with the reopening of operations, crude oil prices witnessed a sudden jump in prices. This is expected to result in an increase in raw material prices, thereby leading to a short-term spike in product prices.
In Germany, the market for MDI-based PU technical insulation is expected to witness significant growth at a rate of 3.9% over the forecast period, owing to the significant product demand from the commercial construction sector in Germany. Commercial construction is presumed to observe a strong growth fueled by rising per capita income, low-interest rates, and a rising number of immigrants.
An increase in the power and energy consumption in Germany, Russia, Italy, U.K., and Belgium is expected to open new growth avenues in the market for MDI-based PU technical insulation. This can be attributed to factors such as increasing population, rise in the number of industrial facilities and commercial offices and buildings, and improvement in the healthcare sector.
Key manufacturers adopt backward integration strategies, such as collaborations with raw material suppliers to assert control over the quality of materials for enhanced strength of technical insulation materials. This helps them lower their transportation costs. Manufacturers offer customization options to industrial customers, as per long-term supply agreements, thus increasing the productivity.
Browse through Grand View Research's Specialty Glass, Ceramic & Fiber Industry Research Reports.
- Insulation Market – The global insulation market size was estimated at USD 57.95 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% over the forecast period. Increasing consumer awareness regarding energy conservation is estimated to have a positive impact on the market over the forecast period.
- Technical Insulation Market – The global technical insulation market size was estimated at USD 7.24 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2020 to 2027. Increasing demand for efficient use of power and energy across the developing economies on account of rapid industrialization and urbanization is estimated to propel the demand for technical insulation.
Europe MDI-based PU Technical Insulation Market Segmentation
Grand View Research has segmented the Europe MDI-based PU technical insulation market on the basis of product, application, end use, and country:
Europe MDI-based PU Technical Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Discontinuous Panels
- Display Cases
- Furniture Rigid Foam
- Water Heater/Cooler
Europe MDI-based PU Technical Insulation Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Heating & Plumbing
Europe MDI-based PU Technical Insulation End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Industrial & OEM
- Commercial Buildings
Europe MDI-based PU Technical Insulation Country Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
Key Companies profiled:
Some prominent players in the Europe MDI-based PU technical insulation market include
- Rockwool Insulation A/S
- Owens Corning
- Huntsman International LLC
- Compagnie de Saint-Gobain S.A.
- Knauf Insulation
- Kingspan Group
- NMC SA
- SIG plc
- Winco Technologies
- Recticel Group
- BRUGG GROUP AG
Order a free sample PDF of the Europe MDI-based PU Technical Insulation Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Email: [email protected]