Press release
Thermal Insulation Materials Market Size, Status and Industry Outlook During 2021
Thermal Insulation Materials Market
Thermal insulation materials are used to restrict the flow of heat energy from two ends of different temperatures. Usually, heat flows from high temperature to low temperature. Thermal insulation material offers insulation in which the radiative heat is reflected heat is reduced than being absorbed. Some of the common thermal insulation materials are fiberglass, stone wool, and plastic foam. These materials find application across buildings, clothing, mechanical systems, natural animal insulation, spacecraft, and automotive.
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Increasing spending on the construction industry by the Indian government is predominantly fueling the market growth of thermal insulation materials. According to the India Brand Equity Foundation, in 2018, the infrastructure sector in India witnessed private equity and venture capital investments worth US$ 1.97 billion. Hence, growing investment by the government is expected to favor market growth over the forecast period.
Competitive Section
Key players operating in the global thermal insulation materials market are Saint-Gobain S.A., Kingspan Group, Dow Chemicals Company, Asahi Kasei Corporation, BASF SE, Owens Corning, Bayer AG Rockwool International, E. I. du Pont de Nemours and Company, and Berkshire Hathaway.
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