Radiant Barrier Reflective Insulation Market

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

About the Report

Radiant barriers inhibit heat transfer by thermal insulation, and are effective in warmer climates, light in weight, and have strong heat reflection property as compared to other barriers. Reflective insulation is made from layers of insulating foam or air bubbles, encased by a reflective surface. This unique reflective insulation combination delivers high performance, suitable for all types of construction and home renovation projects. Reflective insulation has the ability to reduce 97% of heat transfer, which is why it has such a high market share. The commercial & agriculture sector will account for a bulk of demand for radiant barrier and reflective insulation over the coming years.

In its new study, Persistence Market Research offers insights about key factors driving demand for radiant barrier and reflective insulation. The report tracks global sales in 20+ high-growth markets, which reveals that North America and Europe lead the pecking order. It also analyzes the impact COVID-19 has had on various related industries in general, and the radiant barrier and reflective insulation market in particular.

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Companies

  • 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

Historical Vs Future Outlook for Radiant Barriers and Reflective Insulation

The construction industry is growing in both, developing and developed countries across the globe since last couple of decades. Owing to this continuing development in regions such as Asia Pacific and North America, consumption of energy has increased significantly over the years. As a result, governments of various economies are adopting policies to promote the use of passive cooling technologies, such as radiant barriers and reflective insulation, to boost sustainable development and meet global energy demand.

Owing to their energy saving characteristics, radiant barriers and reflective insulation are gaining popularity across countries. Also, key players are engaged in acquisitions, expansion, and collaborations for creating a strong foothold in this landscape. Manufacturers are focusing on providing lightweight radiant barriers and reflective insulation materials with high effeteness in humid environment and for numerous other applications.

Persistence Market Research expects the global radiant barrier and reflective insulation market to expand at an impressive CAGR of 8.5% through 2031.

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What is Aiding Demand Growth for Radiant Barriers and Reflective Insulation?

Government initiatives to promote growth of energy-efficient passive cooling systems and increasing urbanization, coupled with growing population, have increased demand for cost-effective passive cooling systems. These are key driving factors that will lead to market growth over the coming years. 

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Why is R&D Key to Consolidation in the Radiant Barrier and Reflective Insulation Market?

Investments in R&D for the development of innovative products and advanced processes are expected to lead to market growth in the near future. Rising demand from end-use industries, especially from the construction industry, is expected to create more opportunities for radiant barrier and reflective insulation market players, globally. Some key market players are investing around 3-5% of their revenue in research & development for the development of innovative products to cater to growing demand from end-use industries.

Moreover, key players are focusing on the advancement of processes to increase overall production capacities with less energy, and simultaneously reduce carbon emissions. Some of the key players are entering into long-term agreements with academic institutions to facilities products under radiant barriers and reflective insulation in developing countries, which is also paving the way for the expansion of channel scope.

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What Regulations Exist for Radiant Barrier and Reflective Insulation?

There are numerous standards for the use and manufacturing of radiant barriers and reflective insulation; for example, ASTM standards regarding regulations for installation systems in building construction. As per The (ASTM) American Society For Testing and Materials’ standard for the installation of system, emittance of radiant barriers shall be less than or equal to 0.05 as tested in accordance with ASTM C1371 or ASTM E408.

Also, the European Union is extending the definitive anti-dumping duty imposed by Council Regulation (EC) No 925/2009 on the imports of certain aluminum foil originating in the People's Republic of. Also, various government regulate standards for radiant barriers and reflective insulation. Market players need to be aware of these various standards and regulations across the regions of the world.

radiant-barrier-and-reflective-insulation-market

Country-wise Insights

Why is the U.S. a Leading Radiant Barrier & Reflective Insulation Market?

Persistence Market Research has projected the U.S. to be one of the most lucrative markets over the course of the forecast period. There is growing demand from the construction industry, especially from the commercial sector. The use of radiant barriers and reflective insulation is popular in the southern part of North America, including states such as Florida, Texas, Oklahoma, and many others. Key players in the country can witness strong incremental $ opportunity of around US$ 550 Mn over the next ten years.

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

With growing demand from end-use industries, especially from the commercial sector, China is expected to be a prominent market in the East Asia region for radiant barriers and reflective insulation. China is focusing on the development of its western region. Also, the country has announced various constructional projects. China alone is building over one-third of all the buildings worldwide, consuming and producing 55% of constructional material, globally. China is investing in the constructional sector to boost its economy at a global level, where radiant barriers and reflective insulation are anticipated to be used on a large scale over the years to come.

Which Industry Dominates Demand for Radiant Barriers and Reflective Insulation in Germany?

The radiant barrier and reflective insulation market in Germany is mainly driven by the country’s construction industry. The market is quiet mature in nature, and is being driven by various measures being taken to reduce greenhouse gas emissions, achieve cost efficiency, and due to government regulations for creating energy-efficient buildings.

Radiant barriers and reflective insulation principally differ in their working in cold climates. Reflective insulation consists of a layer of bubble or foam, which further increases its adaptability in colder regions. This is anticipated to boost demand for reflective insulation as compared to radiant barriers in Germany in the near future.

What is the Share of ASEAN Countries in the Radiant Barrier and Reflective Insulation Market?

ASEAN countries such as Indonesia, Malaysia, the Philippines, Singapore, and Thailand are anticipated to account for more than 40% of the regional market share. This can be attributed to increasing popularity of radiant barriers and reflective insulation across the region.

In countries such as Singapore, the government has made it mandatory to install radiant barriers in all new constructions across the country. The use of radiant barriers in Singapore is also being necessitated by hot and humid climatic conditions in the country throughout the year. This is anticipated to boost market growth, and owing to this, Singapore is expected to sustain its share and account for more than 20% share by the end of the forecast period.

What is the Radiant Barrier and Reflective Insulation Market Scenario in GCC Countries?

GCC countries are estimated to remain relatively attractive with a substantial market share and significant growth rate. The market is estimated to expand significantly at a CAGR of around 9%, and is projected to create an incremental $ opportunity of around US$ 31 Mn during the forecast period.

The region has the presence of well-known construction companies in Dubai, Qatar, Doha, UAE, and many others. Tremendous amount of construction activities are also going on in the region. Also, governments have recently announced plans to invest in green products and constructional activities in the residential and commercial sector.

Furthermore, the construction industry is expected to contribute significantly in terms of demand for radiant barrier and reflective insulation over the next few years.

Category-wise Insights

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

Over the forecast period, the commercial & agriculture segment is expected to continue to account for more than one-third of the global share by end use. According to Persistence Market Research, by the end of 2031, the segment is projected to hold more than 40% share of the market. Owing to increasing demand from commercial and agriculture sector expected to spur the demand of radiant barrier and reflective insulation market.

Why Does Reflective Insulation Hold Higher % Share?

Reflective insulation is expected to witness highest growth during the forecast period, accounting for more than three-fourth of the total market share. Segment growth is mainly due to various advantages offered by reflective insulation in end-use industries, especially related to heat transfer. For this reason, reflective insulation is widely preferred across the construction industry.

Opportunities in Radiant Barrier and Reflective Insulation Market

According to Persistence Market Research, end users are moving toward energy efficiency and energy saving products for green building development. In order to meet this demand, manufacturers are developing high-quality and more energy-efficient products. This factor is also responsible for product innovation, which increases demand for radiant barriers and reflective insulation. In addition, end users prefer products with high durable insulates, thus improving product demand across regions.

Competitive Landscape

The global radiant barrier and reflective insulation market is dominated by a few, large-, medium-, and small-scale companies operating around the world. The top five players cumulatively account for 30%-40% share in the global market. Most of these players have bases in Europe and North America, as regional policies favor private sector development. Also, these players have a large pile of patents, which gives them an edge over small players and startups.

Companies operating in the market plan to acquire and collaborate strategically with end consumers and regional distributors to meet the needs of an expanding consumer base. Suppliers of radiant barriers and reflective insulation are adopting acquisition and regional expansion strategies to establish a foothold in new and fast-growing markets.

Some of the leading companies operating in the radiant barrier and reflective insulation market are:

  • 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

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value and  ‘000 Sq. Ft for Volume

Key Regions Covered

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

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey, and South Africa

Key Segments Covered

  • Product
  • 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

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Radiant Barrier and Reflective Insulation Market by Category

Product

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

End Use

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

 Region

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

Key Questions Answered in Report

Q1. Which is the most lucrative market for radiant barriers and reflective insulation?

North America will experience lucrative growth in the global radiant barrier and reflective insulation market, and is expected to dominate over the assessment period. The region is estimated to hold more than one-third of the value share in the global market.

Q2. Which product is high in demand across regions?

Reflective insulation is highly preferred over radiant barriers, especially owing to its preferred applications in end-use industries.

Q3. Which end-use application is demanding the most 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 since the last couple of years, which is expected to continue in the near future as well.

Q4. Which are some of the leading companies providing radiant barriers and reflective insulation?

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

Q5. What is driving the sales of radiant barriers and reflective insulation?

Growing preference for energy-efficient cooling systems is driving the sales of radiant barriers and reflective insulation, because these are an effective and economical solution for industries in manufacturing and packaging, as they reduce the rate of deterioration of products in high temperatures.

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