Press release
Asia-Pacific Insulation Materials Market is expected to reach $50,035 million by 2023 | with CAGR 7.4%
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Insulation materials play a crucial role in safeguarding substances, bodies, buildings, or materials from heat, electricity, and sound. These materials find applications across various sectors, including construction, automotive, packaging, consumer goods, telecommunication, and more.
The growth of the Asia-Pacific insulation materials market is attributed to factors such as the expansion of the automotive and oil & gas industries, coupled with an increased use of microporous insulation in industrial and aerospace sectors. This demand arises from the necessity for slim and lightweight construction designs in aircraft. The thriving Chinese automotive industry, which has led the global market in vehicle production since 2008, contributes significantly to this growth. However, fluctuating raw material prices pose a challenge to market growth. On a positive note, the adoption of green building systems presents new opportunities for expansion.
In 2016, the polyurethane foam segment held the largest market share, driven by its excellent insulation properties and cost-effectiveness. The segment is particularly boosted by the surge in green building practices focused on energy reduction. Closed-cell spray polyurethane foam, known for superior R-value, durability, and enhanced energy performance, is considered ideal for insulation systems. Meanwhile, the polyethylene segment is expected to witness the highest CAGR over the forecast period, attributed to its low coefficient of friction and suitability for guides and moving parts.
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Key findings from the report include:
Polyethylene is projected to experience the highest growth rate from 2017 to 2023, both in terms of value and volume.
China led in revenue generation in 2016, accounting for over one-third of the Asia-Pacific market.
India is forecasted to achieve the highest CAGR of 8.1% during the forecast period.
The wires & cables segment dominated the market in 2016 and is expected to maintain its lead throughout the forecast period.
The residential construction segment is estimated to exhibit the highest growth rate, both in terms of value and volume, throughout the forecast period.
The wires & cables segment, fueled by increased demand from power, telecommunication, and real estate sectors, dominated the Asia-Pacific market in 2016. Ongoing developmental activities in power, telecommunication, and real estate sectors in emerging economies such as India and China are expected to drive the insulated wire & cable sector. China, with a monthly import and export value of approximately $300 million in wire & cable products, stands out as a major player in this sector.
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Key Benefits for Asia-Pacific Insulation Materials Market:
Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future scenario of the market from 2017 to 2023 to understand the prevailing opportunities and potential investment pockets.
Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of key players along with their key strategic developments are enlisted in the report.
Key players operating in the Asia-Pacific insulations material market:
► BASF SE
► The Dow Chemical Company
► Bridgestone
► ProtekAsia
► ROCKWOOL Building Materials (Singapore) Pte Ltd
► Huntsman Corporation
► Kingspan plc
► Armacell International Holding
► Bayer Material Science
► and ITW Insulation Systems
Similar Report:
Polyethylene Insulation Materials Market: https://www.alliedmarketresearch.com/polyethylene-insulation-materials-market
Polyurethane Foam Insulation Materials Market: https://www.alliedmarketresearch.com/polyurethane-foam-insulation-materials-market
Extruded Polystyrene (XPS) Insulation Material Market: https://www.alliedmarketresearch.com/extruded-polystyrene-insulation-materials-market
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