Insulation Market : Opportunities, Value Chain Analysis & Impact Analysis Of Restraints On Market Forecast

The global insulation market is estimated to account for $52,296 million revenue in 2017 and is projected to witness a CAGR of 8.62% during the forecast period. Growing demand for insulation in residential and non-residential projects for ensuring energy conservation is driving the growth of the insulation market, globally.

On the basis of product, the insulation market has been segmented into glass wool, mineral wool, expanded polystyrene (EPS), extruded polystyrene (XPS), and others. Of these, both glass wool and EPS are expected to be the largest categories during the forecast period.

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Globally, North America is expected to lead the insulation market in terms of size, during the forecast period. The market in the U.S. especially, is advancing at a high rate considering the increased demand from end users. Strict environment standards and various government initiatives such as Affordable Housing Institute (AHI) and Made in Canada are expected to support the region’s residential insulation market during the forecast period. Increasing population due to urbanization and emphasis on restoring domestic manufacturing sector are expected to drive the construction market in Canada; thereby, resulting in the growth of the insulating materials market.

There has been a significant growth in the global air-conditioner and refrigerator markets, primarily fueled by the rising demand in India and China. Cooling appliance insulation is another important contributor to the growth of the insulation market. On account of the rising global temperatures and with advancements in cooling technology, the demand for cooling appliance insulation has picked up growth even in the mature markets of the U.S. and Europe. Availability of sophisticated and energy-efficient appliances, and replacement sales are driving the market growth in these regions.

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High urbanization and growth in population coupled with high industrialization rates in emerging markets such as South Africa, India, China, and Brazil have propelled the need for better industrial and residential infrastructure. Additionally, rising energy costs and government initiatives to improve energy efficiency is expected to trigger the demand for insulating products in industrial and residential buildings; thus, leading to the expansion of the insulation market.

Some of the major players operating in the global insulation industry are GAF Materials Corporation, Guardian Building Products Inc., Huntsman Corporation, Johns Manville, Cellofoam North America Inc., CertainTeed Corporation, ROCKWOOL International A/S, Dow Building Solutions, Owens Corning, Atlas Roofing Corporation, Saint-Gobain S.A., Byucksan Corporation, and Kingspan Group.

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