Insulation Market Size to Expand at a CAGR of 6.5% during 2019-2024

According to the global insulation market report by IMARC Group, the market is expected to grow at a CAGR of around 6.5% during 2019-2024. Insulation refers to the process of preventing heat, sound and electricity from being transmitted from one place to another. Different insulation materials are widely utilized, depending on their application. For instance, mineral wool is used in ceilings and walls for protecting residential spaces against cold in winters and heat in summers. Besides this, insulation is widely used in buildings for minimizing thermal energy losses, reducing noise levels and preventing moisture condensation. It is also employed in the petrochemical industry for energy conservation and reducing greenhouse gas (GHG) emissions.

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Global Insulation Market Trends

Due to rapid urbanization and increasing global population, there is a rise in construction activities, especially in emerging economies, which in turn is driving the insulation market across the globe. Moreover, glass wool, polystyrene and polyurethane foam are widely utilized as insulating materials in the food and beverage (F&B) industry for controlling temperature and protecting food products from contamination. Apart from this, owing to their low thermal conductivity and non-corrosive, non-toxic and non-flammable properties, they are employed in the oil and gas, automotive and chemical industries across the globe. These applications are anticipated to strengthen the market growth in the coming years.

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Global Insulation Market Segmentation

Market Breakup by Material Type:

Mineral Wool
Polyurethane
Polyethylene
Polyvinyl Chloride
Polystyrene
Calcium Silicate
Others

Market Breakup by Function:

Thermal
Electric
Acoustic
Others

Market Breakup by Form:

Pipe
Foam
Blanket
Board
Others

Market Breakup by End Use Industry:

Power
Chemical and Petrochemical
Oil and Gas
Construction
Automotive
Food and Beverage
Others

Market Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

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