The Global Market for Insulation is Projected to Reach US$44 Billion by 2020
Growing Thermal & Acoustic Insulation Needs Drives
the Global Insulation Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release
of a comprehensive global report on Insulation. The global market for Insulation is projected to reach US$44 billion by 2020, driven by the growing need for thermal and acoustic insulation in housing
and commercial buildings.
The global market for
insulation is witnessing steady growth driven by the recovery in new
residential and non-residential construction activity in the emerging markets
and increasing
building renovation and upgrade projects in developed countries. Retrofitting
insulation generates a major chunk of revenues in the North American and
European markets. Other factors driving growth in the market include governmental
emphasis on reducing energy consumption, and legislation of new building codes.
Also benefiting growth are technology developments focused on improving the strength,
durability and energy efficiency of insulation materials. Eco-friendly products
are growing in popularity, against the backdrop of growing environmental
concerns and rising popularity of green buildings.
In
addition to heat transfer control, noise control also creates a significant opportunity
for demand growth. The growing emphasis on privacy, peace and quiet in both public/commercial
and private buildings is throwing the spotlight on sound insulation in
structural engineering. The growing desire for undisturbed living and working
environments is creating opportunities for the use of sound insulation
solutions under floor coverings. Polystyrene
boards, polyurethane foam, fiberglass and rock wool, represent conventional
insulating materials for home insulation. However, newer materials are
developed on a continuous basis, suitable for a broad range of applications in
building and industrial sectors. Innovative material options poised to benefit
market prospects in the near term include loose insulation made of shredded
paper, recycled insulation, soy-bean foam insulation and modified fiberglass
insulation. Fire insulation and impact insulation in industrial plants
and warehouses are also generating significant opportunities for growth.
Growing awareness over the health issues related to noise and vibrations is
resulting in increased use of insulation materials in manufacturing plants
where vibrations are caused by heavy industrial activities. Key factors driving
the need for vibration control and isolation include lightweight construction
architecture of modern buildings, and rise in multi-storied manufacturing
plants and the ensuing installation of mechanical equipment on upper floors.
As stated by the new
market research report on Insulation, Asia-Pacific represents the largest and
the fastest growing market worldwide with a CAGR of 6.9% over the analysis
period. Increasing focus on home energy efficiency, rising environmental
awareness, favourable government policies, steady
economic growth, robust construction activity, and increasing investments in the
industrial and infrastructure sectors, represent key growth drivers in the
region.
Key players covered in the
report include Armacell International S.A., BASF SE, BASF Polyurethanes GmbH, Cabot
Corporation, CECA, CertainTeed Corporation, ContiTech AG, Evonik Industries AG,
Flachshaus GmbH, Fletcher Insulation, Flumroc AG, Huntsman Corporation, Johns
Manville, Knauf Insulation Ltd., Knauf
Insulation GmbH, Microtherm N.V., Morgan Advanced Materials, Owens Corning,
Paroc Oy AB, Pittsburgh Corning Corporation, PPG Industries, Rockwool
International A/S, Roxul, Inc., Saint-Gobain, Sealed Air Corporation, Sonoco Products Company, The Dow Chemical
Company, and Uralita Group, among others.
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