Press release
Insulation Market Forecast – USD 80 Billion Revenue by 2026
Insulation Market
Insulation market in developing countries including India, Brazil, China, and South Africa are anticipated to witness lucrative growth from industrial and residential sector. Insulation market forecast report predicts that global industry will grow with CAGR of almost 6% over 2019-2026.
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A few trends contributing to proliferate insulation industry size are explained below:
Plastic foam segment is likely to offer impetus to insulation market share by 2026:
Plastic foam segment of insulation industry is bifurcated into expanded polystyrene and extruded polystyrene. Here, expanded polystyrene (EPS) delivers high performing insulation and is utilized in external wall systems. The product provides improved U-values and reduces risk of condensation and water penetration. Its availability in several thickness ranging from 20 mm to 100 mm based on customer demand and building specification will also enhance insulation market outlook. Furthermore, many companies have been developing advanced EPS solutions to spur insulation industry trends.
For instance, Atlas EPS, a part of Atlas Roofing Corporation, has reportedly announced redesigned and rebranded product line for graphite enhanced expanded polystyrene products reflecting evolution of ThermalStar GX Series. The series is developed on latest technology and will showcase novel R5 per inch products, offering high-class alternative to XPS. Combined EPSx® Technology and unique graphite additive improves insulating performance of traditional polystyrene without utilization of blowing agents.
Fiberglass product segment will showcase significant growth in insulation industry size:
Fiberglass insulation has proved to be preeminent insulation material for residential and commercial construction. Over the years, the system has been showcasing its ability to cut down utility costs, augment occupant comfort, and make buildings more energy efficient. Fiberglass insulation producers have been looking for eco friendly substitutes to meet certifications and building norms. For example, Johns Manville, a Berkshire Hathaway firm and key building products manufacturer, has apparently announced that its narrow roll insulation and fiberglass batt products has secured the NAIMA R-Value Certification. The certification has provided third-party verification of thermal performance of John Manville.
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Insulation market trends to accrue proceeds from residential and industrial application segment:
In 2018, residential construction has substantially supplemented the global insulation industry size and held over half of the market share. Intensifying focus towards building regulations with aim to conserve energy will thrive insulation market trends in modern residential construction activities. Insulation industry forecast report estimates that the sector is anticipated to experience considerable growth over 2019-2026 due to growing demand for housing spaces.
Insulation market size from industrial segment is predicted to observe considerable growth over 2019-2026. Industrial demand includes coverings for machinery, boilers, tanks, and pipes. For example, At K 2019 in Düsseldorf, BASF has announced to launch Elastopir® Blue, a novel PU rigid foam solution possessing low lambda value. The product achieves outstanding standards of energy efficiency while establishing new standards for sandwich panels. It has exceptional fire protection properties which will help to enhance insulation industry outlook by 2026.
North America insulation market participants will contribute to accelerate global business growth over 2019-2026:
North America insulation market size will witness significant growth over the coming years. Amplifying awareness throughout the region concerning energy saving is pushing prevalence of thermal insulation structures in commercial and residential buildings. Energy bills get higher at the time of extreme winters and summers due to need of maintaining a satisfying interior temperature.
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Several market players in North America have also been toiling to boost insulation market share. For instance, Atlas Roofing Corporation has reportedly announced that it has acquired ACH Foam Technologies which is headquartered in Westminster, CO. The company is a key manufacturer of molded polystyrene solutions with production facilities established throughout North America.
Some other key players in insulation market share are Armacell, Huntsman International, Knauf Gips KG, Owens Corning, and Rockwool International. According to the latest research report by Global Market Insights Inc., insulation market share is projected to surpass revenue of around $80 billion by 2026.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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