The global insulation market is expected to reach USD 93.34 billion by 2024, according to a new report by Grand View Research, Inc. Rising importance of energy efficient buildings owing to escalating energy costs is expected to remain a key driving factor for global insulation market.
Legislative frameworks such as new building codes by the European Union, energy efficiency improvement program by U.S. DoE, etc. are also considered to stimulate the market growth. Increasing construction spending, particularly in Asia Pacific and the Middle East, is also expected to have a positive influence on the market growth. Volatile prices of key raw materials are expected to challenge market profitability.
Foamed plastic was the leading product segment with demand share exceeding 45% in 2015. Favorable properties of the material, such as higher R-value (thermal resistance) and fire resistance are expected to propel the foamed plastic demand over the forecast period. Increasing demand from construction, as well as refrigeration industry, will have a considerable impact on the market growth. The segment is also expected to witness the highest growth of 8.9% from 2016 to 2024.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/insulation-market
Further key findings from the study suggest:
·
Residential construction emerged as the leading
application segment and accounted for 39.1% of total market revenue in 2015.
Increasing construction spending in Asia Pacific, along with stringent
regulations pertaining to the energy efficiency of households in North America
and Europe is expected to spur the market growth.
·
Nonresidential construction is expected to
witness the highest growth of 9.1% over the forecast period. Increasing
shopping malls, commercial complexes in Asia Pacific and the Middle East is
expected to drive this segment over the forecast period.
·
Asia Pacific led the global insulation industry
with demand share estimated at 42.4% in 2015. Rapid industrialization along
with construction growth on account of rising income levels has spurred the
insulation products demand in this region. Asia Pacific is also expected to
witness the highest growth of 9.4% over the forecast period. North America and
European insulation industry will mainly be triggered by the recent regulations
supporting energy efficient buildings.
·
The market is highly competitive and due to its
capital intensive nature, the market is expected to have high barriers to entry.
The global market is characterized by the presence of multinational players
having a presence across the value chain. Key market players include
Saint-Gobain, Rockwool, Johns Manville, Knauf, Huntsman Corporation, GAF
Materials Corporation, Johns-Manville Corporation, etc.
Read detailed report or request for sample of this research report: - http://www.grandviewresearch.com/industry-analysis/insulation-market/request
Grand View Research has segmented the global insulation market on the basis of product and application:
Insulation Product Outlook (USD Million, 2014 – 2024)
·
Fiberglass
·
Foamed Plastic
·
Mineral Wool
·
Others
Insulation Application Outlook (USD Million, 2014 – 2024)
·
Residential Construction
·
Industrial, HVAC & OEM
·
Non-residential construction
Insulation Regional Outlook (USD Million, 2014 – 2024)
·
North America
·
U.S.
·
Europe
·
Germany
·
France
·
UK
·
Asia Pacific
·
China
·
India
·
Japan
·
Central & South America (CSA)
·
Middle East & Africa (MEA)
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
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