July 30,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Insulation Market.
Insulation Market is likely to witness an impressive CAGR of 6.0% during the forecast period. The major factors such as the increasing usage of recycled materials for the production of insulating materials, growing awareness regarding conservation of energy in the developing countries in symphony with the surge in population, adoption of zero energy buildings and sustainable construction are expected to fuel the growth of the market during the forecast period.
Insulation is the process of keeping sound, heat, or electricity from spreading and offers basic functionalities such as high-performance buildings, improved inhabitants comfort level, and protection from noise and fire resistance.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the market is segmented as fiberglass/glass wool, mineral wool, plastic foam, and others. Fiberglass/glass wool is estimated to witness significant growth rate owing to its cost effectiveness in comparison with the other insulating products. Its wide range of applications across different building parts and being capable of offering insulation in the range of R-8 to R-40, making them ideal for customized appliances based on the requirements for customer is expected to fuel the product demand in the insulation market. Moreover, mineral wool offers superior thermal insulating properties and is an excellent fire insulator. Furthermore, the feature of superior acoustic dampening to decrease sound produced in the industrial areas is one of the major factors fueling the market demand during the forecast period.
Based on the application type, the market is segmented as residential construction, industrial, HVAC & OEM, and non-residential construction. Factors such as increasing focus on minimizing consumption of energy accompanied by installation of efficient, recyclable, and green materials, increasing customer spending along with growing needs for new homes, growing requirements in residential and commercial applications for insulating materials among developed regions including North America and Europe, growth in construction industry along with increasing innovation towards adoption of energy efficient modes are expected to fuel the market revenue during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the major region of the market and the growth is attributed to its rise in population along with growing development in both commercial and industrial construction. Furthermore, factors such as growing preferences of consumers towards energy conservation and green building initiatives, other initiatives and policies made by the government regarding the housing sector developments are expected to accelerate the growth of the regional market during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period
Key Players:
- Armacell International S.A.
- BASF
- CertainTeed Corporation
- Dow Chemical Company
- Huntsman International
- Johns Manville
- Knauf Gips KG
- Owens Corning Corp.
- Recticel Insulation
- ROCKWOOL International A/S.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Insulation Marketanalysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors
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