ICL(US:ICL) ZACKS·2024-12-17 14:00Core Insights - ICL Group Ltd. has launched a new phosphorus-based flame retardant product, VeriQuel R100, aimed at enhancing sustainability in rigid polyurethane insulation products [1][2] - The product is designed to meet stricter global environmental regulations and is compatible with existing manufacturing processes, facilitating a smoother transition for manufacturers [2] - The global rigid polyurethane foam market is projected to grow from approximately $21 billion in 2023 at a CAGR of 5.8% from 2024 to 2030, driven primarily by the construction industry [3] Company Developments - ICL has invested over $2 million in R&D for VeriQuel R100, which is already being utilized by four leading U.S. commercial roofing companies, with six more in development [1][2] - ICL's stock has increased by 1% over the past year, contrasting with an 11.5% decline in its industry [4] Market Context - The demand for environmentally friendly building materials is rising, positioning VeriQuel R100 as a key solution that balances performance and fire safety [3] - The construction industry's growth is a significant factor driving the demand for rigid polyurethane foam, which is known for its energy efficiency and cost-effectiveness [3]