Insulation Market is Forecasted to Reach US$ 83.2 Billion in 2028, Says Stratview Research

The global insulation market is projected to witness a growth rate of 3.3% annually from 2023 to 2028, with an anticipated size of US$83.2 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global insulation market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:
Market Size in 2028: US$ 83.2 billion
Growth (CAGR): 3.3% during 2023-2028
Leading Material Type: Plastic Foam
Leading End-Use Type: Building & Construction
Leading Insulation Type: Thermal insulation
Leading Region: Asia-Pacific
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Insulation Market:
The global insulation market is segmented based on material type, end-use type, insulation type, and region.

Based on material type - The insulation market is segmented into fiberglass, mineral wool, plastic foam, and others. Plastic foam is expected to remain the largest material type in the market during the forecast period owing to advantages such as its high insulation value and low water absorption, resistance to mold and mildew growth, versatility, low thermal conductivity, longevity, fire resistance, and ease of installation. Among plastic foam, expanded polystyrene (EPS) is expected to remain the largest plastic foam type in the market during the forecast period.

Based on end-use type - The market is segmented into building & construction and industrial. Building & Construction is expected to remain the dominant as well as the fastest-growing end-use type in the market during the forecast period driven by changing trends toward eco-friendly buildings that provide efficient acoustic and thermal insulation for residential, commercial, and industrial uses.

Based on insulation type - The market is segmented into thermal and acoustic insulation. Thermal insulation is projected to remain the dominant insulation type in the market over the next five years driven by the growing awareness about climate change and environmental sustainability and stringent energy efficiency regulations and building codes.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest and fastest-growing market for insulation during the forecast period. This growth outlook is majorly attributed to the following-
· China holds the major share of the region's market. High economic growth rate, increasing investment in the building & construction and automotive industries, and rising adoption of stricter building codes are key factors impacting the growth of insulation in the region's market.
· Europe is another big market for insulation and is expected to create sizeable opportunities in the coming five years, driven by rising awareness of green construction and smart infrastructure and higher adoption of advanced technologies.

Insulation Market Drivers:

Some of the key drivers listed in the report are given below.
• Stringent energy efficiency regulations and building codes for the use of insulation materials.
• An increase in the need for energy-efficient equipment.
• An increase in construction activities.
• Rising industrial projects.
• An increase in automotive production.
• The prioritization of comfort in homes and workplaces.

Top 6 Companies in the Insulation Market:

Stratview Research has identified the following companies as the top market players (arranged alphabetically).
• Owens Corning
• Saint-Gobain
• Rockwool International
• Knauf Insulation
• BASF SE
• Kingspan Group

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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This release was published on openPR.