Insulation Market is Projected to Reach $101.3 Billion by 2025: P&S Market Research

NEW YORK, April 09, 2018 -- According to the new market research report published by P&S Market Research, global insulation market is projected to reach $101.3 billion by 2025, growth in the demand for insulation in residential and non-residential applications owing to the growing importance for energy conservation and rising energy costs are expected to trigger the growth of the market during the forecast period. Government initiatives to promote energy efficiency and sustainable development through insulating technologies are expected to further propel the insulation market growth.

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On the basis of product, the insulation market has been segmented into glass wool, mineral wool, expanded polystyrene (EPS), extruded polystyrene (XPS), and others. Glass wool and EPS are estimated to hold more than 50% share in the market in 2017. Glass wool comprises glass fibers which are bound systematically into a structure similar to wool, and it is lighter as compared to rock wool. It is a thermal insulator consisting of flexible and knotted glass fibers, which trap air inside, resulting in low density and is produced in slabs and rolls along with several other favorable mechanical properties.

Europe is estimated to hold the largest share in the insulation market, with more than 25.0% revenue contribution in 2017. The high demand for insulating materials from residential buildings is expected to drive the European insulation market growth during the forecast period. Increasing energy costs and high awareness among consumers regarding the benefits of insulating are expected to have a positive impact on the market growth in the region.

Browse report overview with detailed TOC on "Insulation Market by Product (Glass Wool, Mineral Wool, EPS, XPS), By Application (Residential Construction, Non-Residential Construction, Industrial, HVAC & OEM), by Geography (U.S., Canada, Mexico, Germany, U.K., France, China, India, Japan) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2014–2025" at:https://www.psmarketresearch.com/market-analysis/insulation-market

North America is characterized by a strong presence of the insulating materials industry participants. Companies in the region have developed high quality insulating products for usage in commercial, industrial, and residential applications. They have achieved core competencies in a range of insulating materials such as EPS and XPS and have vertically integrated to optimize production and streamline the value chain. Strong distribution network of these companies coupled with broad portfolio is expected to aid the growth of the insulation market in the region, over the next seven years.

Increasing demand in residential and non-residential construction is expected to drive the insulation market growth during the forecast period. High urbanization rates and increasing number of cities in emerging markets, especially China and India, are driving the residential infrastructure growth. These trends coupled with energy conservation initiatives to reduce greenhouse gas emissions are expected to drive the Asia-Pacific insulation market growth, during the forecast period.

In the Middle East and Africa (MEA), regulatory standards for construction, some of which stem from environmental policies, have pushed contractors to develop efficient ways to source special materials and supplies, such as thermally insulating materials. Also, manufacturers are resorting to the use of insulating materials to reduce operational costs of equipment, which in turn is likely to foster the growth of the insulation market in the region.

Some of the major players operating in the global insulation industry are GAF Materials Corporation, Guardian Building Products Inc., Huntsman Corporation, Johns Manville, Cellofoam North America Inc., CertainTeed Corporation, ROCKWOOL International A/S, Dow Building Solutions, Owens Corning, Atlas Roofing Corporation, Saint-Gobain S.A., Byucksan Corporation, and Kingspan Group.

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