Insulation Market - Booming Construction Industry Drives Demand for Thermal, Electric, Acoustic Insulation By 2020

The primary job of insulation, be it thermal, electric, or acoustic, is to minimize the interaction between a substance and its environment. This can work in the form of thermal insulation for houses and other construction, electric insulation for wires and cables, etc. The global insulation market has been driven in recent years by the expansion of the construction industry, which is likely to remain a prime driver for the market in the coming years. The rising demand from the automotive industry is also likely to play an important role in the development of the global insulation market in the coming years.

During the ongoing decade, the global insulation market is expected to rise close to threefold, and is expected to be valued at US$64.9 bn in 2020.

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The construction industry has undergone steady recovery following the global economic slowdown in 2008-09 and has enjoyed sustained growth over the last decade. The demand for residential construction has exhibited a steady upward curve in the last few years thanks to the rising disposable income of consumers in developing regions. The quickening pace of immigration into major cities across the world has also added to the rising need for new residential construction. Commercial construction is also likely to rise in volume in the coming years due to the rising number of corporate institutions and the rising demand for entertainment and shopping units such as malls and theaters.

The steady growth of the global automotive industry has also had a crucial impact on the trajectory of the global insulation market. Consistent advancements in automotive design have led to large-scale use of insulation materials in automobiles for thermal, acoustic, as well as electric insulation. The rising use of automotive electronics is likely to ensure sustained demand from the global insulation market in the coming years, whereas the rising demand for premium cars could also sustain steady demand for acoustic insulation.

The consumer electronics industry is also likely to remain a key consumer in the global insulation market. The rising disposable income of consumers has led to rapid growth of the consumer electronics industry in recent years, whereas the rising technological sophistication of smartphones has necessitated the increasing use of electric insulation.

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The developed economies of North America and Europe, on the other hand, are showing a steady increase in the demand for insulating materials. This demand is attributed to the increasing trend of re-insulation of buildings to incorporate modern materials and better architectural strategies.The increasing demand for passenger as well as commercial and transport vehicles in these two emerging countries is likely to lead to steady demand from the global insulation market in the coming years.

Apart from commercial and residential buildings, industrial areas are also expected to ramp up their demand for insulating materials owing to the advent of materials that can be used in the harsh industrial environments. The global insulation market is also expected to witnesses increase in demand from the automotive sector owing to an increasing in automobile sales and the incorporation of better interior insulating materials.

The key players in the global insulation market are explained in detail within the report. These players include ROCKWOOL International A/S, Owens Corning, Knauf Gips KG, Johns Manville, Huntsman International LLC, The Dow Chemical Company, CertainTeed Corporation, Duro-Last Roofing, Inc., and Atlas Roofing Corporation.

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