COVID19 Impact on Insulation Market Size and Growth Forecast till 2026 | Top Players: Cellofoam North America Inc, Knauf Insulation, DuPont, ARMACELL YALITIM A.Ş., Owens Corning, etc
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments as well as several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Insulation is essential to maintain the desired temperature in the house that enables protection from harsh summer and chilly winters all year around. It aids in drastic reduction of noise and is useful in conserving energy to a large extent. There are several types of materials such as fiberglass, cellulose, and foam that are regarded as the best insulation options available across the globe. Rising concerns to conserve energy and environment is propelling the demand for insulators that enable cost-efficient options at residential as well as commercial spaces.
What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. The report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Increasing Demand for Construction Activities to Drive the Market
Insulation is the most sought after in several commercial and residential space. In commercial offices, insulation is vital that aids in cancellation of noise and helps in increasing productivity amongst the employees by maintaining a peaceful and quite surrounding. According to the National Institute of Building Sciences, a quiet and peaceful environment significantly improves the productivity and optimizes performance of the employees.
Rapid industrialization is resulting in the increasing development and renovation of infrastructures that is driving the demand for insulation products. High demand from the food and beverage sector owing to growing consumer demand for dine-ins and development of hotels is anticipated to favor the global insulation market growth in the forthcoming years.
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Increasing Adoption of Sustainable Infrastructures in Asia-Pacific to Aid Growth
Among all regions, the market in Asia Pacific is expected to remain at the forefront and hold the largest global insulation market share during the forecast period. This is ascribable to increasing government support for adopting sustainable infrastructures that involves developing energy-saving solutions such as efficient insulation and solar harnessing devices in the region. Several manufacturers adopting one or more insulating materials in development of commercial and residential spaces in countries such as India and China will contribute for the market growth in the region.
Europe, on the other hand, is anticipated to witness significant growth in the market during the projected horizon. This is attributable to increasing focus on developing zero-emission green buildings owing to stringent government policies between 2019 and 2026.
DuPont Collaborating with Shandong Sunris to Have Significant Global Impact
In May 2020, DuPont announced that it has selected Shandong-based, Shandong Sunris New Materials Co., Ltd as its technology license partner for its sustainable and innovative technology, BLUEDGE Polymeric Flame-Retardant. According to the company, the BLUEDGE technology provides a sustainable flame retardant that aids in conservation of environment, while providing optimum level of insulation and fire safety benefits. Adoption of strategies such as merger and acquisition, collaboration, and partnership by the companies is likely to bode well for the growth of the global insulation market during the forecast period.
List of the Companies Operating in the Market:
• Atlas Roofing Company
• Cellofoam North America Inc.
• Knauf Insulation
• Owens Corning
• Armacell S.A.
• Beijing New Building Material (Group) Co., Ltd.
• PT. Bondor Indonesia
• Huamei Energy-saving Technology Group Co., Ltd.
• Johns Manville
• Kaneka Corporation
• KCC Corporation
• Kingspan Insulation LLC
• Luyang Energy-saving Materials Co., Ltd.
• NICHIAS Corporation
• ROCKWOOL International A/S
• U.P. Twiga Fiberglass Limited
• Reciticel Group
• Firestone Building Products
• Bridgestone Chemitech Co., Ltd.
• K-FLEX S.p.A.
• Sound Seal
• Huntsman International LLC
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Significant Industry Developments of Insulation Market Include:
July 2017 – The Proudfoot Company, a pioneer in noise control products for concrete based applications situated in Connecticut, the U.S. was acquired by Sound Seal for entering new verticals of the acoustic Insulation sector.
November 2019 – The manufacturing facility of Superglass located in Stirling, Scotland, was expanded for increasing the annual production capacity of glass wool Insulation up to 60 KT. For this expansion, the company invested about $48 million to support the demand for Insulation products across Europe.
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