Increased of Applications in Industrial and Aerospace Sectors Hits Insulation Materials Market to garner $92,570 million by 2020

Growth of the automotive and oil & gas industry is expected to fuel the market growth during the forecast period. Growing use of microporous insulation in industrial & aerospace sectors, and demand for high temperature insulation in oil & gas sector drive the world insulation materials market. Growing concept of green building concept are expected to offer major opportunities to the world insulation materials market. The overall slowdown in the construction sector and volatility in the pricings of raw materials are expected to affect the growth of the world insulation materials market during the forecast period.

Insulation Materials Market was valued at $60,000 million, and is expected to reach $92,570 million by 2022, supported by a CAGR of 6.2%. Insulation materials are used to stop heat, electricity, or sound from going into or out of something. Insulation materials industry is primarily segmented in three broad categories: thermal Insulation, electrical insulation and heat insulation. The key tan effective insulation system is proper installation of quality insulation materials.

Polyethylene is expected to be the fastest growing type segment for insulation materials market during the forecast period as it offers excellent insulator has a low coefficient of friction and is excellent for guides and other moving parts. Rapid urbanization in the emerging economies, such as India, China, Brazil, and others, have led to upsurge in construction activities and manufacturing automobiles, which is a key driving factor of the insulation materials market. In 2015, construction application segment accounted for over one-fourth of the market in terms of value, and is expected to maintain its dominance throughout the forecast period. Moreover, upsurge in HVAC & OEM and wires & cables industry in the emerging economies, such as India and China, drive the insulation materials market in the Asia-Pacific region.

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Asia-Pacific accounted for the largest share in the global insulation materials market in 2015 and is expected to maintain its leading position. This is attributable to increase in building & construction and automotive segment and improvement in economy. China is the fastest growing country for the consumption of insulation materials, which is expected to continue this dominance.

Key Findings of the Insulation Materials Market:

• Insulation materials in wires & cables application segment occupied the highest share in 2015, and is expected to grow at a CAGR of 6.6% in terms of value during the forecast period.
• China is the leading consumer of insulation materials accounted for approximately one-third share of the Asia-Pacific market, followed by Japan
• Polyurethane segment accounted for two-fifths of the global insulation materials market in 2015.
• U.S. is the leading market for insulation materials in the North American region, growing at a CAGR of 5.3% in terms of value during the forecast period
• The polyethylene segment is expected to expand with the highest CAGR of 8.2% in the type segment in terms of value during the forecast period

Top key players :

• BASF SE
• Bayer AG
• Saint-Gobain S.A
• Rockwool International
• Huntsman Corporation
• Atlas Roofing Corporation
• Bridgestone
• Evonik Industries AG
• GAF Materials Corporation
• Kingspan Group PLC
• The DoW Chemical Company.

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