The global insulation market is slated to tread along a lucrative growth path in the years to follow. The constructions industry has emerged as a key area of investment for stakeholders and investors. Therefore, the relevance of various forms of insulation across the constructions industry is expected to propel market demand. Thermal insulation has become a key area of focus for real estate companies, and this is an important standpoint for market growth. Use of insulation technologies in cold regions has become an important consideration for market vendors. Furthermore, walls and ceilings of houses are widely insulated against external forces such as winds, sunlight, and water.
- Acoustic insulation is also an important component of the global insulation market. The growing demand for sound-proof glasses and windows has created new opportunities within the market. Large auditoriums and studios are insulated against external noise, thus, opening new growth avenues for market vendors.
- Fire insulation is also an important component of key insulation systems, and this trend has garnered the attention of the masses. Fire insulation technologies are actively deployed across industrial and manufacturing. Several state authorities necessitate the use of fire insulation in highly vulnerable industries. Therefore, the total volume of revenues within the global insulation market is set to increase by leaps and bounds.
- Construction of houses and commercial complexes in several western nations involves minimal use of concrete. For this reason, it is important to insulate these houses against impact, sound, and fire. The next decade is slated to witness the entry of several new vendors in the global market. The lucrative opportunities for growth and development that float across the insulation market shall prompt these vendors to invest in new technologies. The North America insulation market shall be a prominent contributor to the growth of the global market.
Global Insulation Market: Overview
Insulation refers to a process wherein a non-conducting material is used to isolate something from its surroundings, and sustain its normal state of being. It can be used for different purposes like sound, heat, and electricity insulation. However, the insulation market is heavily influenced by the high-growth building-insulation market. This market can be classified into residential, non-residential, and industrial insulation. Insulators are useful for controlling the energy efficiency of the house, or in an industrial setting and also in reducing the carbon footprint. Insulators can be classified broadly into two categories, Mineral fibers, and Plastic foams among which the later account for the majority of sales.
The insulation market has witnessed high growth over the last decade and is expected to grow at least at the same pace. The biggest market for insulation is the North American region, followed by Europe. Germany leads the demand in Europe followed by the industrial countries like France, Italy, the UK, and Spain. These markets are expected to be steady and grow at a slow pace. However, strong demand is expected to be generated from the nascent markets in Asia-pacific, China, and Latin America.
The main driver of this industry is the growing market in the Asia-Pacific, boosted by the real estate and industrial boom. Insulation is still uncommon in Asia but it is fast catching up, as environment awareness among the public is on the rise. The market is the U.S. is matured but is still growing at a considerable rate. The initiative to change the climate taken up by the government has considerably boosted the home insulation market. In the western market, only about a quarter of the demand is from new buildings, and the rest is retrofit. The retrofit market is considerably large in the USA.
Although insulation is an environment friendly application, it still poses some threat to the environment. Over the years due to the improvement in technology, new highly efficient blowing agents have been developed. These blowing agents consist of an ozone depleting material (CFC), which is not desirable. R&D of environment friendly insulation materials is being carried out to negate this issue. Some of the market players in this industry are Knauf, Rockwool, Celotex, Xtratherm, Isover, and Kingspan.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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