Energy Efficient Material Market Current Insights and Future Pathways 2024 - 2031 | China National Materials Group Corp.

Market Overview:

The global energy efficient material market size is projected to reach US$ 16.56 billion by 2025, and register a CAGR of 7.1% over the forecast period (2019 - 2027).

Market Dynamics:

The demand for energy efficient materials is growing driven by the increasing focus on green buildings globally. Various government initiatives and incentives for energy efficient construction are also driving the adoption of these materials. Additionally, adoption of strict energy conservation building codes (ECBC) in many countries has further increased the installation of energy efficient insulation, glass and other products in new constructions as well as existing building retrofits. rising energy costs and focus on reducing carbon footprint are some other factors accelerating the energy efficient material market growth.

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Energy Efficient Material Market Drivers:

Climate Change and Global Warming Concerns Driving The Demand for Energy Efficient Materials

Global warming and climate change has become a major threat to humanity today. There is scientific consensus that human activity such as greenhouse gas emissions are contributing significantly to raising temperatures around the world. This has led to rising sea levels as ice caps are melting at alarming rates. Climate scientists warn that unless strong action is taken to reduce emissions, the impacts of climate change will be irreversible and catastrophic. Governments around the world are taking major initiatives to transition to clean and renewable energy sources as well as improve energy efficiency to curb emissions. Material manufacturers are developing new energy efficient materials that can help reduce energy consumption in buildings and various industries such as construction, automobile, and consumer goods. Materials like insulated glazing, aerogel blankets, and phase change materials are finding growing demand as they help improve the thermal resistant properties of products and lower energy bills for consumers and businesses over the lifetime of products.

Energy Efficient Material Market Opportunity:

Growing HVAC Systems Market Opens Avenues for Phase Change Materials

Heating, ventilation, and air conditioning (HVAC) systems accounts for a significant portion of global energy consumption. As temperatures rise due to climate change, demand for effective HVAC solutions is growing rapidly around the world especially in hotter regions. HVAC manufactures are incorporating more advanced technologies like inverters, VRV systems, and variable refrigerant flow units to improve energy performance. Within HVAC systems, thermal energy storage using phase change materials (PCMs) provides a highly effective way to improve efficiency and reduce peak loads. PCMs can absorb, store, and release large amounts of energy as they change phase between solid and liquid forms. When applied in HVAC applications like building insulation, outdoor units, ductwork, and indoor air conditioning units, they can considerably cut energy use and costs for cooling and heating. The surging HVAC market therefore opens a major commercialization opportunity for suppliers of PCMs as their adoption grows. Material companies are developing advanced PCMs with optimal thermal properties suited for various climates. This presents an avenue to tap the multi-billion dollar HVAC industry with energy efficient thermal management solutions.

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Top Companies Included in This Report:

★ China National Materials Group Corp.
★ Fiber Glass Industries Inc., Guardian Building Products
★ Owens Corning Corporation
★ Taishan Fiberglass Inc.
★ Chongqing Polycomp International Corp
★ PPG Fiber Glass
★ Saint-Gobain Vetrotex.

Market Segmentation:

Based on Product Type:

★ glass, rock and slag wool material

Based on Applications:

★ cool roofing, lighting, home appliances, and building materials

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

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