Insulation Market will Exhibit a Steady 7.06% CAGR through 2022

The Insulation Market was valued around USD 40.06 billion in 2014 and is expected to reach roughly USD 74.75 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 7.06% during the forecast years, owing to rising consumer awareness about energy conservation. The encouraging regulatory circumstances in the majority parts of the globe, like novel building codes in the EU which necessitate amplified insulation utilization to trim down energy consumption and it is also anticipated to influence demand growth positively. Rising infrastructure expenditure in developing markets of Asia Pacific region such as China, India, Thailand, Indonesia, etc. is also anticipated to encourage growth over the next few years. Unstable prices of major raw materials are projected to pose a major challenge for market players. Raw materials like styrene that are utilized to produce plastic foams are experiencing volatility because of uncertain prices of crude oil. Such problems are projected to challenge major industry players concerning production costs and profitability. Though, in the present scenario, lesser crude oil cost is anticipated to promote the demand growth for plastic foam. Eminent level of desegregation subsists in the foamed plastic industry as the staple suppliers are incorporated ahead to produce insulation products.

Insulation Market – Competitive Insights:

Major players working in the market include Huntsman Corporation, Rockwool, Knauf, Johns Manville Corporation, and Saint-Gobain S.A.

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Regional Outlook and Trend Analysis

Asia Pacific regional insulation market directed the global market and reported for around 40% of overall revenue in 2015 globally. The local market is distinguished by elevated insulation requirement in commercial and residential buildings. Eminent industrialization rates together with amplified construction expenditure in developing countries like India and China along with Thailand, Indonesia, Philippines, and Malaysia have impelled the need for improved infrastructure. Increasing thermal insulation demand in commercial and residential buildings is anticipated to be a key driving factor for the demand from North American region. Rising awareness amongst customers about regulatory policies and energy conservation to cut down greenhouse gas discharges is anticipated to impact the regional market growth positively. North America’s regional insulation market growth will be prejudiced by initiatives taken by the government like Weatherization Assistance Program that encourages thermal insulation, particularly in low-income households. The regional market growth for thermal insulation can also be assigned to the demand of insulation material for construction restoration.

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Market Segmentation :

By Product type

Fiberglass

Plastic Foam

Mineral Wool

Other Product Types

By Application

Residential Construction

Industrial, HVAC, and OEM

Nonresidential Construction

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Reason to Buy:

1) An extensive research study on the Global Insulation Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Insulation Market.

2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.

3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.

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