Insulation is a lightweight material used in various end-user industries, mainly in construction and textile. Insulation is widely used in the construction and building industries. The industry growth is primarily driven by the growing investments in energy-efficient infrastructure all over the globe. The fast-paced urbanization and industrial growth across developing and developed economies have encouraged administrative authorities and governments to make noticeable investments in infrastructure development.
Data Bridge Market Research analyses that the Insulation Market is expected to undergo a CAGR of 6.70% during the forecast period. This indicates that the market value, which was USD 57.95 billion in 2021, would rocket up to USD 97.36 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand. Insulation consists of several materials, such as fiberglass or mineral wool. These materials are mainly used for insulating air ducts in homes. Insulation is also used when there's a requirement for insulation that can withstand at high temperatures. These products come in a wide range of thicknesses.
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Some of the major players operating in the insulation market are:
BASF SE (Germany)
Dow (U.S.)
Owens Corning (U.S.)
Huntsman International LLC (U.S.)
L. Gore & Associates, Inc., (U.S.)
Polartec, LLC (U.S.)
Prim aloft, Inc. (U.S.)
Remmers India Pt. Ltd (India)
UdiDÄMMSYSTEME GmbH (Germany)
Invista (U.S.)
HDWool Ltd (U.S.)
3M (U.S.)
Freudenberg Group (Germany)
Viridian Energy Solutions (U.K.)
Armacell (Luxembourg)
Atlas Roofing Corporation (U.S.)
Beijing New Building Material (Group) Co., Ltd. (Japan)
ROCKWOOL A/S (Denmark)
Global Insulation Market Scope
The insulation market is segmented on the basis of product, function, form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
Expanded polystyrene
Glass wool
Mineral wool
Cellulose
Calcium silicate
Others
Function
Thermal
Acoustic
Electric
Others
Form
Blanket
Foam
Board
Pipe
Application
Residential Construction
Industrial
HVAC & OEM
Non-residential Construction
Global Insulation Market Dynamics
Drivers
High usage of insulation in construction industry
Development in the construction industry has boosted the demand for insulation products in last few years. This trend is also anticipated to continue during the forecast period because of the rising demand of green buildings and growing energy conservation regulations overall the globe. Insulation aids in decreasing the cost of entire infrastructure by reducing the energy consumption in buildings. The rising demand for insulation is expected to drive the market's growth rate.
Rising demand of insulation in residential and non-residential application
Increasing demand for insulation in both residential and non-residential applications on account of increasing energy costs and rising importance for energy conservation is anticipated to increase the demand for thermal insulation materials and drive the growth rate of the insulation market.
Huge growth and expansion of automotive sector
Insulation materials are progressively being used in automobiles to enhance sound absorptions and reduce noise, and vibrations. They also help in the manufacturing of many automotive parts such as roll pans, wiper cowls, and bumpers. The automotive sector's growth and expansion boosts the demand for the insulating material, which is anticipated to drive the market growth rate.
Furthermore, the rising demand for insulation due to its excellent property, and increasing usages in construction and other industries from emerging economies are some of the major factors which are expected to accelerate insulation market during forecast period
Opportunities
Rising demand for plastic foam due to environmental concerns
The increasing demand for plastic foam is expected to create lucrative opportunities for market growth. The growing popularity of plastic wool insulation can be recognised due to its inexpensiveness, superior thermal resistance and relatively low vulnerability to moths and insects compared to naturally derived insulation materials for instance, sheep wool insulation. Moreover, the increasing concerns regarding environmental sustainability and rapid growth in the use of recycled materials may positively affect the demand of the plastic wool insulation in upcoming years.
Restraints/Challenges
Issues associated with insulation
Volatility in raw material prices, the emergence of green products, and the building material conformity are some major factors that will hamper the growth of the global insulation market during the forecast period.
This insulation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the insulation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Insulation Market Regional Analysis/Insights
The insulation market is analysed and market size insights and trends are provided by country, product, function, form and application as referenced above.
The countries covered in the insulation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the insulation market in terms of market share. This is due to the increasing demand for insulation products in non-residential and residential construction, growing population and rapid industrialization in this region.
Europe will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to major insulation product manufacturers and the rapid industrialization in these regions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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