Industry Updates
February 2019- Chinese and American researchers have reportedly developed a new variety of aerogel which can be used for insulating applications. The material has robust mechanical and thermal stability as performs exceptionally well in transformation and toughness.
Competitive Landscape
- CertainTeed Corporation
- Huntsman Corporation
- Nova Chemicals Corporation
- Dow Building Solutions
- GAF Materials
- Johns Manville
- Owens Corning
- Knauf Gips
- Bayer AG
- Atlas Roofing Corporation
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Market Overview:
The global insulation market has witnessed rapid growth in recent years and is expected to expand at a moderate CAGR over the forecast period which ends in 2022, asserts Market Research Future (MRFR) in an in-depth study. Insulation materials are used to curb energy, heat, and water consumption in both residential and non-residential applications. The growing emphasis on energy saving coupled with towering energy costs has further encouraged the use of insulating materials in various end-use applications. The governments in various countries have endeavored towards the reduction of greenhouse emissions. Various regulations pertaining to energy conservation have been laid down which further generate high demand for Insulation. The resurgence of construction activities across various parts of the world has acted as a plus for the growth of the market. Modern housing standards put higher weightage on insulation to improve energy efficiency and achieve sustainability.
Increase in residential as well as commercial constructions along with up gradation of existing building structures has induced demand within the global insulation market. The growing popularity of green buildings is also a key factor in enhancing the market growth. Moreover, the last few years have shown a remarkable surge in demand for insulated equipment to increase the production capacity of the manufacturing industry. Technological advancements in insulating materials and regulatory bodies promoting the use of insulation are fostering the growth of the market. Regulatory authorities are endeavoring towards highlighting the importance of heat minimization and are introducing legislation which promotes zero energy buildings. Other factors contributing to the growth of the market include fast track urbanization on a global scale and heightened need for energy conservation. On the other hand, the growth of the market might be hindered by the fluctuating price of raw materials. In addition, a generalized lack of legislation regarding thermal insulation and building standards in various countries are expected to undermine the growth of the global insulation market.
Market Segmentation
The global insulation market has been segmented based on material and application.
By material, the global insulation market has been segmented into fiberglass, plastic fibers, mineral wood, and natural fibers.
By application, the global insulation market has been segmented into residential and non-residential.
Regional Analysis
By region, the global insulation market has been segmented into North America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
APAC is the largest market for insulation. Prolific growth of the construction industry and high focus on energy conservation are driving the market in APAC. The governments in the region have laid down various regulations which encourage insulation in end use applications.
North America is a significant market driven by steady investments in the real estate market and consumer affinity for green buildings. Continuously expanding construction industry and developments in commercial and residential structures in the US fuels the growth of the market. Government focus on conservation of energy has resulted in the development of standards which advocate the use of insulating materials which induce high demand within the market.
Europe too is an important revenue pocket for the global insulation market. The resurgence of construction activities coupled with towering environmental concerns is favoring the use of structural adhesives. Moreover, growing interest in energy saving and increasing investment in commercial and infrastructure construction is also supporting market growth.
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