Insulation material is defined as a material or combination of different materials having low thermal conductivity to resist the flow of heat. Thermal abuse is the major concern faced during the transportation of temperature sensible products; hence, most of the major industries such as food and beverages, pharmaceutical, healthcare, chemicals, cosmetics, etc., depend heavily on insulated materials for packaging. Products from these industries may be subjected to extreme conditions (hot or cold), vibration, and pressure during transportation. Hence, proper packaging solutions are required in such cases to prevent spoilage and maintain product specifications. Insulated packaging is regarded as the optimum solution for keeping products refrigerated, frozen, and warm, and for reducing the effects of variable temperature.
The combined form of packaging and type of insulation material determine its installation method. Thermal conductivity (K) plays an important role while selecting the insulation material. The lower the thermal conductivity, the better the heat resistance (R), thereby resulting in better insulation. Depending on the thermal conductivity, variety of insulating materials are available for different temperature ranges. Some of the most common insulated packaging materials include Expanded Polystyrene Foam (EPS), Polyurethane (PUR) foam, insulating cement, expanded silica, radiant barrier films, mineral fiber, etc. The most widely used forms of insulated packaging include flexible sheets, pre-formed shapes, box, bags, flexible blankets, rigid boards, etc.
Insulated Packaging Market: Drivers & Restraints
High disposable income and increasing healthcare awareness among consumers has led to the rise in global demand for Fast Moving Consumer Goods (FMCG) and product safety, thereby driving the market growth further. Owing to its value added applications in industries such as healthcare and food & beverages, the market for fresh food packaging is expected to create significant growth and investment opportunities for players operating in the market, especially in the developing countries. The main growth drivers for the market are private consumers, retailers, and local packaging firms, which focus more on delivering the product intact in the local market.
However, sustainability of the insulated packaging market majorly depends on the price and supply of raw materials. Presence of big and small packaging firms has created a highly competitive environment for players operating in the insulated packaging market.
Insulated Packaging Market: Segmentation
The global insulated packaging market is further segmented into following types:
Insulated Packaging Market: Region-wise Outlook
By geography, the global insulated packaging market has been classified into seven key regions, namely North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, the Middle East & Africa, and Japan. The global insulated packaging market is anticipated to expand at a double digit CAGR over the forecast period. Asia Pacific is expected to be the most attractive market for insulated packaging due to rise in end use applications of the packaging type in the region. As of 2016, China is the largest insulated packaging market in Asia Pacific, followed by India, and the market in these countries is expected to grow rapidly in the near future. North America, followed by Western Europe, are the other prominent regions projected to hold a promising future growth potential in the insulated packaging market by the end of 2026.
Insulated Packaging Market: Key Players
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