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Radiant Barrier Reflective Insulation Market

Global Market Study on Radiant Barriers and Reflective Insulation: Growing Preference for Energy-efficient Cooling Systems to Fuel Demand

Radiant Barriers and Reflective Insulation Market Analysis and Review by Product Types (Radiant Barriers, and Reflective Insulation)

Market Snapshot

Newly-released data on the Radiant Barriers and Reflective Insulation market shows that global sales are expected to reach around US$ 1,222.4 Mn by the end of 2022, registering a Y-o-Y growth of approximately 3.1 %. The market of Radiant Barriers and Reflective Insulation is projected to witness a CAGR of magnitude 7.4 % over the period of 2022 and 2033 on a value basis.

Radiant Barriers and Reflective Insulation Market Value (2022A)

US$ 1,222.4 Mn

Radiant Barriers and Reflective Insulation Market Estimation (2023E)

US$ 1,327.1 Mn

Radiant Barriers and Reflective Insulation Market Forecast (2033F)

US$ 2,709.9 Mn

Value CAGR (2023-2033)

7.4 %

Collective Value Share: Top 3 Countries (2023)

40.8 %

Radiant barriers are useful in warmer areas, low in weight, and have significant heat reflection properties in comparison to other barriers. They prevent heat transmission through thermal insulation. Layers of insulating foam or air bubbles enclosed by a reflecting surface make up reflective insulation. High performance is delivered by this exceptional reflective insulation mix, making it ideal for all kinds of building and home improvement projects.

Reflective insulation has a considerable market share because of its capacity to cut down 97% of heat transmission. Over the next several years, the majority of the demand for radiant barriers and reflective insulation will come from the commercial and agricultural sectors.

As per the research conducted by Persistence Market Research, the global market of Radiant Barriers and Reflective Insulation consumption across the world is expected to reach a value of US$ 2,709.9 Mn by the end of 2033. East Asia and Europe are anticipated to remain key regions in the Radiant Barriers and Reflective Insulation business owing to growing consumption in Germany, China, and ASEAN countries, and the region is forecast to expand at a CAGR of 7.4 % during the same period.

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Consumption Analysis of Radiant Barriers and Reflective Insulation from 2017 to 2022 Vs Market Outlook for 2023 to 2033

The market of Radiant Barriers and Reflective Insulation had witnessed about 6.6 % year-over-year growth in the past years. Since the previous few decades, the global construction industry has grown in both industrialized and developing nations. Energy consumption has significantly increased over time as a result of growth in regions including the Asia Pacific and North America. In order to promote sustainable growth and fulfil the world's energy demand, governments of many economies are implementing regulations that encourage the use of passive cooling technology, such as radiant barriers and reflective insulation.

Based on the current estimations, the market of Radiant Barriers and Reflective Insulation is to witness a growth outlook of about 7.4 % over the period of 2033 and 2033. Manufacturers are promoting the production of reflective insulation materials and lightweight radiant barriers that are highly effective in humid environments and for a multitude of other uses.

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How it is different from other Common Thermal Insulation Materials?

In addition to being more cost- and energy-effective than thermal insulation, radiant barriers and reflective insulation have also gained popularity because of their portability and potent reflectivity. As opposed to standard thermal insulation materials, radiant barrier and reflective insulation do not decay as rapidly since some thermal insulation materials are more susceptible to mould, moisture, and even pests, which hasten their degradation.

Additionally, it may be used as a vapour barrier, is waterproof and so impervious to moisture, non-toxic, non-carcinogenic, and easy to install. Due to the high demand in residential, commercial, and institutional structures, radiant barriers and reflective insulation is mostly utilized in packing, manufacturing, and storage facilities.

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How cleaning requirements are restricting the growth of the Radiant Barriers and Reflective Insulation Market?

Although radiant barrier insulation is helpful in preventing radiant heat, convective and conductive heat gain can still occur. Radiant barrier and reflective insulation are not prone to moisture, but it is more sensitive towards dust and dirt. Dust accumulation can be harmless, but it reduces the thermal efficiency of the radiant barrier. So, regular cleaning is required to maintain high levels of performance.

Furthermore, radiant barriers and reflective insulation are made up of metal, making them more expensive than conventional thermal insulation materials. Radiant barrier and reflective insulation may also cause an electrical hazard, as it is metal-based and can thus conduct electricity.

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Country-wise Analysis

Why Does Germany Account for a significant share of the Radiant Barriers and Reflective Insulation market?

Demand for Radiant Barriers and Reflective Insulation is expected to remain prominent in Germany as the dominating country in the European Radiant Barriers and Reflective Insulation market. The country is expected to hold around 3.0 % of the regional market.

The German construction industry is the principal driver of the country's radiant barrier and reflective insulation markets. The market is well developed and is being fuelled by a variety of initiatives being made to minimize greenhouse gas emissions, achieve cost-effectiveness, and because of laws requiring the construction of energy-efficient buildings.

In frigid climes, the primary difference between radiant barriers and reflective insulation is how well it performs. Reflective insulation includes a layer of bubble or foam, which further improves its capacity to withstand colder climates. As a result, it is projected that in the near future, demand in Germany will increase for reflecting insulation rather than radiant barriers.

What is the Outlook in China for Radiant Barriers and Reflective Insulation?

China is anticipated to be a significant market for radiant barriers and reflective insulation in the East Asia area due to increased demand from the end-use industry, particularly from the commercial industry. China is putting a lot of effort into developing its western area. The nation has also announced a number of construction projects.

Over one-third of all structures are constructed globally by the Chinese alone, which also consume and produce 55% of all building materials. Radiant barriers and reflective insulation are expected to be widely employed in the building industry over the next several years as China invests in this industry to strengthen its economy on a global scale.

Category-wise Insights

What factors are boosting the demand for Radiant Barriers?

Over the forthcoming assessment period of 2023–2033, radiant barriers are anticipated to have a significant increase. Building materials that reflect thermal radiation and decrease heat transmission are known as radiant barriers. Radiant barriers are frequently used with thermal insulation to slow down heat transmission via conduction or convection since thermal energy may also be transported by these two methods in addition to radiation.

A radiant barrier has a reflecting, low-emittance surface that deflects heat radiation, preventing heat from transferring from one side to the other of the barrier. This surface is often an extremely thin, mirror-like aluminium foil in construction applications. For abrasion resistance or weather resistance, the foil may be coated.

Due to the wide range of applications of radiant barriers from various end-use industries the market of radiant barriers and reflective insulation is expected to increase during the forecast period.

What is the Share of the Commercial & Agriculture Sectors for Radiant Barriers and Reflective Insulation?

Over the projected period, it is anticipated that the commercial & agricultural segment would continue to hold more than one-third of the worldwide market by end-use.

Persistence Market Research predicts that the category will control more than 40% of the market by the end of 2033. The market for radiant barriers and reflective insulation is anticipated to grow in demand as a result of rising demand from the commercial and agricultural sectors.

Competitive Landscape

Together, the top five competitors dominate 30%–40% of the worldwide market. Due to favourable regional policies for private sector development, the majority of these players have bases in North America and Europe. These players have a significant number of patents as well, which offers them an advantage over start-ups and smaller competitors.

To fulfil the demands of a customer, market participants strategically partner with regional players and end users. Suppliers of reflective insulation and radiant barriers are implementing regional development and acquisition strategies to get a presence in emerging and rapidly growing markets. For Instance,

  • In 2020, Dunmore Corporation was awarded in the US Department of Energy’s American-Made Solar Prize competition for its development and commercialization of barrier films for the PV market.
  • On 20 February 2018, Steel Partners Holdings LP, a global holding company with business in various industries, acquired Dunmore Corporation.

Radiant Barriers and Reflective Insulation Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • US$ Mn for Value
  • Tons for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Product Type
  • End-Use
  • Region

Key Companies Profiled

  • Dunmore Corporation
  • Innovative Insulation
  • Fi Foil Co Inc.
  • Reflectix Inc.
  • Patidar Corporation
  • Spunchem International
  • FOIL LAMINATE INDUSTRIES SDN BHD
  • Advanced Technical Laminates Manufacturing
  • Covertech Flexible Packaging

Pricing

Available upon Request

Key Segments Covered in Radiant Barriers and Reflective Insulation Market Research

By Product Type

  • Radiant Barriers
    • Metallized Film
    • Pure Aluminium
  • Reflective Insulation
    • Bubble Type
    • Foam Type
  • Others

By End-Use

  • Residential
  • Commercial & Agriculture
    • Commercial Buildings
    • Agriculture
  • Industrial
    • Manufacturing Plants
    • Storage Facilities
  • Institutional & Others

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • Dunmore Corporation
  • FiFoil Company Inc.
  • Innovative Insulation Inc.
  • Patidar Corporation
  • Reflectix Inc.
  • FOIL LAMINATE INDUSTRIES SDN BHD
  • Advanced Technical Laminates Manufacturing (ATLM)
  • Covertech Flexible Packaging
  • Spunchem International

- Frequently Asked Questions -

The global Radiant Barriers and Reflective Insulation market are estimated to be valued at over US$ 1,327.1 Mn as of 2023.

The substantial production volume of radiant barriers is expected to drive the market in the coming years.

Consumption of Radiant Barriers and Reflective Insulation is projected to increase at 7.4 % CAGR during the period of 2023 and 2033 on a volume basis.

Germany, China, and India are driving most of the demand for Radiant Barriers and Reflective Insulation.

Radiant barriers and reflective insulation are widely used in commercial & agriculture, followed by industrial applications. These end users are experiencing high momentum over the last couple of years, which is expected to continue in the near future as well.

Some of the leading companies manufacturing radiant barriers and reflective insulation are Dunmore Corporation, Innovative Insulation, Patidar Corporation, and Spunchem international, among others.

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