Radiant Barrier & Reflective Insulation Market Size, Share, Growth, And Industry Analysis By Type (Radiant Barrier, Reflective Insulation, And Radiant Barrier & Reflective Insulation) By Application (Residential, Commercial, Agricultural, Industrial, And Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Radiant Barrier & Reflective Insulation Market Report Overview

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The global radiant barrier & reflective insulation market size was USD 765.6 million in 2022 and market is projected to touch USD 1396 million by 2031, at a CAGR of 6.9% from 2022 to 2031.

A radiant barrier & reflective insulation are designed to be used in homes to reduce the expense of installing cooling equipment and to protect against the intense summer heat. It works by placing aluminium sheets in the attic of a home, and owing to the nature of thermal energy heat bounces off the reflective sheets. Radiant barrier & reflective insulation are used to reflect the radiations of thermal energy to limit severe heat transmission. Although radiant barrier & reflective insulation can be used independently to handle the problem of keeping heat during the winter and assisting the home to stay cool during the summer, these are utilized together for best results, utilization, and lowest cost. Heat is transferred by a deviation of heat instead of a conductive approach as the seasons change.

The numerous space explorations and expeditions being carried out by several space stations across the world, particularly the institute of NASA being so active in the sector that has driven the market growth, are mostly to blame for the radiant barrier & reflective insulation market growth. The success of the market for radiant barrier & reflective insulation is significantly influenced by the use of these materials in residential constructions. Both the rising public awareness of energy efficiency and the sustainable development of both residential and commercial structures are impacting the market. The product's use in various laboratories, pipelines, tanks, boilers, and other structures is another factor contributing to the market's rising demand for radiant barrier & reflective insulation.

COVID-19 Impact: Lack Of Production Impeded Market Development

The unexpected COVID-19 outbreak had a profound impact on the world, as seen by the numerous marketplaces that exist worldwide. Markets all over the world suffered as a result of the restrictions placed on ordinary business operations in the industries, while many non-essential productions were entirely stopped during the pandemic for a protracted length of time, causing the collapse of the global economy and the lowest market revenues ever recorded. Similarly, the rigorous lockdown regulations caused the market for radiant barrier & reflective insulation to have poor growth in both sales and income. Low revenues during the outbreak were also a result of a shortage of workers and raw resources for the industries. The worldwide supply chain disruption also had a negative impact on the market expansion.

Latest Trends

"Agriculture Sector Usage Of Product Proliferates Market Growth"

The addition of radiant barrier & reflective insulation in the agriculture sector, which has replaced the traditional use of fiberglass technology for the storage purposes of both food items and livestock, has created a surge in demand for the products in the radiant barrier & reflective insulation market. Due to the need for particular food items to be stored at a specific temperature to keep them fresh for a long time, the outstanding ability of radiant barrier & reflective insulation has considerably increased the market to reduce condensation while also reducing heat gain. Another element influencing the constant demand for the product is the possibility that keeping livestock in barns could cause the animals' health problems owing to the excessive temperatures.

Radiant Barrier & Reflective Insulation Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into radiant barrier, reflective insulation, and radiant barrier & reflective insulation. The radiant barrier segment is anticipated to rise by type in the market during the forecast period.

• By Application Analysis

Based on application, the market can be divided into residential, commercial, agricultural, industrial, and others. The residential segment will rise in the market by application from 2022 through 2031.

Driving Factors

"Awareness Of Green Energy Drives Product Value"

The widespread use of reflective insulation and radiation barriers in a range of industries has contributed to the increase in market success. Radiant barrier and reflecting insulation are used by a wide range of businesses to reduce energy use and instead think about energy conservation. The radiant barrier & reflective insulation are used in many industries for several purposes, including maintaining temperatures in attics. The adoption of radiant barrier & reflective insulation to save energy and be more environmentally friendly is the result of the general public's increased knowledge of the negative effects of climate change.

"Growing Utilization In Space Expedition Missions Facilitates Market Expansion"

The use of the product for NASA-run space exploration missions is the main cause driving such enormous growth in the market for radiant barrier & reflective insulation. To shield astronauts and communications ships from radiation, NASA initially created the technology for radiant barriers. Since the materials employed in its construction make it a highly reflecting surface, it has become standard for spacecraft to make significant use of them. Additionally, due to their durability, their use in the field of aviation has greatly increased.

Restraining Factors

"Fluctuating Prices Lowers Market Value"

However, the market is being constrained by the fluctuating cost of the raw materials used to make these aluminium sheets, even though users find the market to be a huge success. The market's profit has also grown unpredictable as a result of the inconsistent price, which has prevented the market for radiant barrier & reflective insulation from growing.

Radiant Barrier & Reflective Insulation Market Regional Insights

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"North America Dominates Due To Increased Demand"

Due to the rising demand for the product among a wide range of customers, particularly the construction industry in the region, the North American region now maintains the bulk of radiant barrier & reflective insulation market shares.

In comparison to other market-competitive regions, Europe comes in second. The market's performance in the European region is also a result of rising demand for reflective insulation and radiant barriers in the building industry, as well as growing public awareness of the benefits of energy efficiency.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Reflectix (U.S.)
• DowDuPont (U.S.)
• Innovative Insulation (U.S.)
• Solvay (Belgium)
• Dunmore (U.S.)
• Fi-Foil Company (U.S.)
• Spunchem (South America)
• Patidar (India)
• Advanced Technical Laminates Manufacturing (Malaysia)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.