Foam Insulation Market size is valued at USD 21,763.8 billion in 2021 and is expected to grow at a significant CAGR of 5.0% during the forecast period 2022 to 2028. The global market provides a detailed overview of the Foam Insulation market and that can be segmented by form, product type, and end-user. By type, The market has been segmented into Spray, Flexible, and Rigid. The spray segment is likely to be the largest and fastest-growing segment in terms of type. Based on product type the foam insulation market is segmented into Polystyrene, Polyurethane and Polyisocyanurate, Polyolefin, Elastomeric, Phenolic, and Others. Among these, the polystyrene segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on end-user, the market is segmented into Building and Construction, Automotive and Transportation, Electricals and Electronics, Packaging, and Others. The Building and Construction segment accounts for the largest share in 2021. Automotive is the second-largest share during the forecast period 2021-2028 according to Precision Business Insights.
In February 2020, Huntsman Corporation completed the acquisition of Icynene-Lapolla to expand the business in downstream polyurethanes.