Press release
Insulation Market 2020 | Top Players are Owens Corning, Atlas Roofing Corporation, Kingspan Group, ROCKWOOL International, Johns Manville, CertainTeed Corporation
Insulation Market
The global insulation market share is highly fragmented with presence of very few notable revenue contributors. Owens Corning held most of the global market share in 2018. The company offers a broad range of insulating products for several construction applications. The company?s sales are highly influenced by the such products with notable share in the company revenue. The well-established distribution network with presence in more than 33 countries have enhance the company sales.
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Fiberglass/glass wool will showcase the highest growth rate over the projected timeframe. This can be credited to the benefits offered by the material including lower cost along with convenient application process as compared to the other modes. The superior properties of the material including design freedom, and improved absorption of sound waves further accelerates the product demand. Moreover, the non-conductive and radio frequency transparent nature of the material provides a positive outlook for the segment growth over the study period.
Market Growth Drivers -
o Increase in construction spending in Asia Pacific
o Construction to remain contributing maximum to the insulation market in Europe
o Rising energy costs and building codes increasing insulation adoption in North America
o Stringent regulatory compliance related to thermal insulation in commercial and industrial spaces
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Asia Pacific is set to dominate the insulation market share over the study period. This can be attributed to the increasing demand in China owing to rapidly growing construction and industrial markets. The Chinese government has updated insulation building requirements to reduce energy consumption and implemented design standards for energy efficiency of public, green, and residential buildings. Japan significantly contributes towards the market growth over the study period. Rising population along with mandatory regulations will escalate the regional share over the forecast time span.
Some major findings of the insulation market report include:
o Industry players are required to undergo stringent tests for complying their products with the carcinogenicity and toxicity norms
o Companies across the globe are focusing on launching environmentally friendly and green recyclable insulating materials that do not harm the human health
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Major manufacturers operating in the insulation market are Owens Corning, BASF, Dow Chemicals, Huntsman International, Knauf Insulation, Armacell, Recticel Insulation, CertainTeed and Rockwool International. Strategic acquisitions and contracts are among the major strategies adopted by industry players to increase their market share. For instance, in November 2017, Rockwool International acquired Flumroc AG. This strategy enabled the company to expand its operations in the Swiss insulation market.
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