The growth prospects for the flexible insulation market are positive with the market size expected to witness a moderate growth rate of 5.54% from 2016 to 2021, in terms of value. The global flexible insulation market is rapidly evolving with the major market players playing a crucial role in the development of the market. Some major players such as Saint-Gobain (France), Owens Corning (U.S.) and BASF SE (Germany) led the market in 2015.
Saint-Gobain and Owens Corning have a major share in the global flexible insulation market. These companies mainly focus on the expansions strategy in the global flexible insulation market to strengthen their positions. The players are concentrating on expansions to meet the growing demand, owing to the growing construction industry; and the use of flexible insulation in various insulation applications such as thermal, acoustic, and electrical.
The major players are concentrating on expanding their presence in countries such as Russia, Japan, South Korea, Slovenia, Turkey, the U.S., Belgium, China, India, and Germany in order to develop and manufacture flexible insulation. These expansion strategies help the companies to meet the growing demand for flexible insulation for thermal, acoustic, and electrical insulation.
Expansions, acquisitions and new product launches are the key strategies adopted by major flexible insulation manufacturers in the recent past. The top players in the flexible insulation market adopted these strategies to strengthen their positions in the flexible insulation market and to enhance their product portfolios.
Saint-Gobain is focusing on acquisitions to meet the growing demand in the market. In May 2016, the company acquired Buitex Industries (France), a company specializing in the manufacture of fiber insulation products for French and European markets. The acquisition helped the company to expand its range of multi-material insulation solutions.
Owens Corning is another key player in the flexible insulation market which is focusing on expansions and acquisitions to strengthen its position in the global market. In 2015, the company opened a new facility to manufacture mineral wool insulation, in Joplin, U.S. The expansion helped the company to meet the growing demand for flexible insulation in North America. In 2013, the company acquired Thermafiber Inc. (U.S.), a leading manufacturer of mineral wool insulation products. The acquisition helped the company to broaden its insulation product portfolio.
The leading market players have adopted different strategies in order to gain competitive advantage over other players. The European region is leading in terms of the demand for flexible insulation, due to the strict building codes in the region accompanied by a trend towards implementation of energy efficiency solutions in the buildings in the region.
Flexible Insulation Market by Material (Fiberglass, Elastomer, Aerogel, Cross Linked Polyethylene) and Insulation Type (Thermal, Acoustic, Electrical) - Global Forecast to 2021
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