The global insulation market is expected to reach a CAGR of US$64.91 bn by the end of 2020. This market was valued at US$37.87 bn in 2013 and is projected to rise at a CAGR of 8.0% within a forecast period from 2014 to 2020. This data is derived from a research report published by top market intelligence agency, Transparency Market Research. This report, titled “Insulation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” establishes a clear projection of the market using the recent and current market facts and statistics.
Browse the full Insulation (Fiberglass, Plastic Foam, Mineral Wool and Others) Market for Residential Construction, Industrial, HVAC & OEM, and Nonresidential Construction Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/insulation-market.html
According to the report, the primary driver of the global insulation market is the increasing concern over the rapid consumption of fuel and energy. Temperature control plays a crucial part in a large number of industries and a major chunk of the overall fuel consumption goes into maintaining the optimum temperature. However, as the global stockpiles of energy are reducing in amount and fuel prices are increasing, manufacturers and consumers are looking to alternatives to save fuel expenses.
The global insulation market is witnessing a high demand from the developing economies in the Asia Pacific and others. The rapid rates of industrialization and urbanization in these regions are creating a high demand for not only fuels, but also insulating materials, thanks to an increased awareness for fuel cost savings and the presence of efficient insulating materials.
The developed economies of North America and Europe, on the other hand, are showing a steady increase in the demand for insulating materials. This demand is attributed to the increasing trend of re-insulation of buildings to incorporate modern materials and better architectural strategies.
Apart from commercial and residential buildings, industrial areas are also expected to ramp up their demand for insulating materials owing to the advent of materials that can be used in the harsh industrial environments. The global insulation market is also expected to witnesses increase in demand from the automotive sector owing to an increasing in automobile sales and the incorporation of better interior insulating materials.
The report segments the global insulation market on the basis of products, into mineral wood, plastic foam, fiberglass, and others. In 2013, nearly 42% of the total demand for insulating materials was attributed to plastic foam insulation. Despite this significant market share, plastic foam is expected to be phased out slowly as a result of volatile raw material pricings and an awareness of the harm that non-biodegradable plastic foams can do to the environment. Conversely, eco-friendly insulators are expected to show a major increase in market share over the coming years.
On the basis of application, the global insulation market was dominated by the residential sector which held nearly 48% of the market shares in 2013.
The key players in the global insulation market are explained in detail within the report. These players include ROCKWOOL International A/S, Owens Corning, Knauf Gips KG, Johns Manville, Huntsman International LLC, The Dow Chemical Company, CertainTeed Corporation, Duro-Last Roofing, Inc., and Atlas Roofing Corporation.
Key Segments of the Global Insulation Market
Insulation Market - Product Segment Analysis
- Plastic Foam
- Mineral Wool
- Other (Including cotton wool, slag wool, etc.)
Insulation Market - Application Analysis
- Residential Construction
- Industrial, HVAC, and OEM
- Nonresidential Construction
Insulation Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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