Foam insulation is typically a low-density elastomer in a thermal insulating foam that offers a thermal obstruction around a component or between an interior space and a cold or heat source. According to BlueQuark Research and Consulting, the global Foam insulation market is expected to grow considerably during the forecasted period. Factors such as the increasing infrastructure activities have led to high demand for foam insulation in the construction industry and are expected to drive the need for the Foam insulation market in the forecasted period. Further, the increasing demand for polyisocyanurate foam and phenolic foam for insulation of automotive components and auto parts will drive the demand for foam insulation in the automotive industry and is expected to drive the need for the Foam insulation market in the forecasted period. Furthermore, stringent government regulations for reducing greenhouse gas emissions fuel the Foam insulation market's growth in the forecasted period. However, we still need to gain awareness about the low and middle-class economies that will derail the foam insulation market growth rate. Stringent regulations imposed on the use of certain chemicals and materials will further create hindrances in the foam insulation market growth.

The building and construction industry is predicted to dominate the market studied during the forecasted period. Insulation is an important, cost-effective, energy-saving material in the building and construction industry. It also helps to minimize greenhouse gas emissions and protect the environment. Insulation keeps a building at a low temperature in the summer and a high temperature in the winter, decreasing noise transmission. Additionally, insulation also helps save energy as it is one of the significant cost-efficient ways to minimize energy bills. Insulation can be done for roofs, walls, and floors in a building. Building energy is used majorly for heating and cooling. The primary loss is due to air leakages through attics, doorframes, and window panels. Thus, foam insulation saves energy and cuts the energy cost. Rapid development in the construction industry is the sector to drive market growth for foam insulation as it helps to build a healthy and efficient home. Polystyrene foam insulation and elastomer foam insulation are commonly used foam insulation. Polystyrene, an excellent sealant, covers commercial and residential buildings. Polystyrene is also widely used for exterior, roof, and thermal insulation. Spray foam insulation is considered the best to decrease greenhouse gas emissions and lower utility bills. It can minimize energy consumption by reducing air leakage on door frames, external walls, window frames, roof underlays, crawlspaces, crawlspaces, attic floorings, and others. Moreover, it is also helpful in improving indoor air quality through small crevices and cavities by blocking the infiltration of allergens and dust. Also, it reduces mould and condensation growth by growing the building's strength and preventing moisture accumulation in the walls. Therefore, the increasing construction industry across the globe is expected to increase the demand for foam insulation from the building and construction industry in the forecasted period.

Asia-Pacific is expected to dominate the global spray foam insulation market. It is also forecasted to be the fastest-growing market due to the increasing consumption for countries such as China and India. Household appliance manufacturing in the Asia-Pacific region is expanding at a significant rate. Additionally, there is an upsurge in residential and commercial construction activities in the Asia-Pacific region. The Asia Pacific construction industry is growing significantly, with China, India, and Southeast Asian countries in the hotspot. Rising demand for rigid foam insulation in the automotive and transportation industries leads to more prospects in the global market. It keeps the interior temperature in storage and delivery vehicles like reefer trailers and trucks. In addition, it provides thermal comfort for travellers in automobiles, trains, planes, and buses. The increasing use of spray polyurethane foam in building insulation for energy conservation and their versatility and distinctive physical properties are other reasons fuelling the development of the polyurethane foam insulation materials market. In buildings, it acts as an air barrier that closes all the gaps, which helps save energy bills. It also makes roofs and other components airtight, which helps avoid the chance of water seepage. Furthermore, this is used in automotive vehicles to reduce noise and vibration, increase structural support, and help seal the cabin against road and engine noise and dust. Foam insulation is extensively used to manufacture automotive parts such as side skirts, roll pans, wiper cowls, and bumpers. The advantages of rigid and flexible foams are combined in a single product with semi-flexible polyurethane foam. It is hugely thermally, acoustically, moisture-controlling, and fire-resistant. It may be twisted or moulded more quickly than solid polyurethane sheets due to it being less rigid. Semi-flexible foam insulation, which absorbs sound waves better than other forms of insulation, also lowers noise levels.

Some market players are BASF SE, The Dow Chemical Company, Covestro AG, Huntsman International LLC ., and Lapolla Industries, Inc.

In February 2020, Huntsman Corporation completed the acquisition of Icynene-Lapolla to expand the business in downstream polyurethanes.

In July 2021, Owens Corning, a United States-based developer and manufacturer of insulation, roofing, and fibreglass composites, acquired Vliepa GmbH for $40 million. This acquisition is predicted to increase the scope of Owen Corning's worldwide nonwoven offering and focus on sustainable design, lightweight construction, and labour-saving manufacturing techniques in European markets.

Global Foam Insulation Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Foam Insulation Market by segmenting based on Product Type (Polystyrene foam, Polyurethane and Polyisocyanurate foam, Polyolefin foam, Elastomeric foam, Phenolic foam, and Others), End-user Industry (Building and Construction, Automotive, Transportation, Consumer Appliances, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report examines the market drivers and restraints and the impact of Covid-19 on market growth in detail. The study covers emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.