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News Displaying items by tag: Future Market Insights

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Polyisocyanurate insulation market to grow by 6% every year until 2033

20 August 2024

World: Market research firm Future Market Insights (FMI) has forecast a composite annual growth rate of 6% in the global polyisocyanurate (PIR) insulation market up to 2033. This will result in 81% decade-on-decade growth to US$25.6bn in 2033. FMI noted technical developments affecting the use of customised PIR boards in the prefabricated construction as a main driver of the growth. Nationally, the market will have a CAGR of 8% in China, 7% in India, 6% in the UK, 5% in Canada and 4% in Germany.

FMI said “In the rapidly changing world of PIR insulation, innovation and sustainability have emerged as dynamic forces reshaping the industry’s trajectory. The market is going through a fundamental shift, moving beyond its traditional role of providing insulation and into uncharted territory where cutting-edge technologies are poised to redefine its boundaries.”

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