Insulation Market is Likely to Receive Massive Momentum by 2026
Category: #business  By Rahul Varpe  Date: 2020-02-03
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Insulation Market is Likely to Receive Massive Momentum by 2026

Asia Pacific is set to dominate the insulation market share over the study period. This can be attributed to the increasing demand in China owing to rapidly growing construction and industrial markets. The Chinese government has updated insulation building requirements to reduce energy consumption and implemented design standards for energy efficiency of public, green, and residential buildings. Japan significantly contributes towards the market growth over the study period. Rising population along with mandatory regulations will escalate the regional share over the forecast time span.

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Global Insulation Market is expected to exceed USD 80 billion by 2026. The proliferating real-estate investments globally is driving the market share.

Increasing population, urbanization, and environmental changes has influenced the demand for sustainable and smart infrastructure solutions. Offering effective building approaches along with the ability to provide actual planning, designing, and integration are the key factors fueling the insulation market growth.

Fiberglass/glass wool will showcase the highest growth rate over the projected timeframe. This can be credited to the benefits offered by the material including lower cost along with convenient application process as compared to the other modes. The superior properties of the material including design freedom, and improved absorption of sound waves further accelerates the insulation market demand. Moreover, the non-conductive and radio frequency transparent nature of the material provides a positive outlook for the segment growth over the study period.

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Consumer preference for insulating products highly varies on the application and the R-value required. The growth in the residential construction industry along with rising demand for maintaining the required insulation will induce positive effect on the segment growth. Wide range of the product availability in various forms including blanket form required for the residential application will further result in product prominence.

Some major findings of the insulation market report include:

  • Industry players are required to undergo stringent tests for complying their products with the carcinogenicity and toxicity norms
  • Companies across the globe are focusing on launching environmentally friendly and green recyclable insulating materials that do not harm the human health
  • Major players in insulation market are Armacell, Owens Corning, Huntsman International, Knauf Gips KG, and Rockwool International
  • Companies are focusing on integrating the value chain including forward and backward integrations. For instance, Huntsman International is backward integrated with operations in polyurethane production as well as insulation manufacturing.

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Major manufacturers operating in the insulation market are Owens Corning, BASF, Dow Chemicals, Huntsman International, Knauf Insulation, Armacell, Recticel Insulation, CertainTeed and Rockwool International. Strategic acquisitions and contracts are among the major strategies adopted by industry players to increase their market share. For instance, in November 2017, Rockwool International acquired Flumroc AG. This strategy enabled the company to expand its operations in the Swiss insulation market.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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