Major insulation market participants include CertainTeed Corporation, Owens Corning Corp, BASF, Huntsman International, Rockwool International A/S, Dow Chemical Company, Johns Manville, Knauf Gips KG, Armacell International S.A., SY Panel Company Limited, Lloyd Insulations (India ), Duro-Last Roofing, Inc., Atlas Roofing Corporation, Shengquan Group, Recticel Insulation, Paroc, UP Twiga Fiberglass, Kingspan Group, Byucksan Corporation and some others.
SELBYVILLE, Del. , Sept. 15, 2022 /PRNewswire/ -- The insulation market is expected to record a valuation of USD 95 billion by 2030, according to the latest research analysis by Global Market Insights Inc. The report anticipates the considerable expansion of the construction sector globally as a leading factor driving the industry growth. The ongoing improvement in the global financial landscape across developed economies and the subsequent rise in household incomes have pushed the demand for adequate residential, non-residential, and industrial infrastructure, creating prospects for the insulation industry. The growing environmental concerns have encouraged several economies to implement strategic actions and make hefty investments to aid the expansion of climate-smart infrastructure by integrating energy-efficient heating and cooling solutions.
For instance, in February 2022 , the European Union established a new partnership with the International Finance Corporation (IFC) for infrastructure investments throughout South Asia under a five-year (2021-2026) program Accelerating Climate-Smart and Inclusive Infrastructure in South Asia (ACSIIS). The project is focused on benefitting businesses in six South Asian economies, including Bangladesh , Bhutan , India , Maldives , Nepal , and Sri Lanka , through investments worth $850 million in areas such as energy, water, waste management, transport, logistics, and green buildings.
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Remarkable product attributes to drive the demand for mineral wool
The mineral wool segment surpassed USD 8 billion in 2021 and may depict 6% CAGR through 2030. The primary factor driving the sector expansion is the increasing product deployment across the piping and construction industry. Mineral wool has exceptional thermal insulation and excellent flame or deformation-resistant mechanisms, making them ideal for usage in buildings and structures. Besides, the growing utilization of these insulation materials as acoustic dampeners may further help the insulation market gain significant momentum by end of 2030.
Growing requirement for thermally insulated
The industry finds major applications in industrial HVAC and OEMs, residential constructions, and non-residential constructions. The non-residential segment is set to register 7% growth rate and record an estimated worth more than USD 11 billion by 2030. The sector growth is influenced by the rising demand for thermal and acoustic insulation in the commercial establishments. The surging demand to minimize heat surplus or loss across building to maximize energy savings, cost savings, and increased comfort may transform the insulation market dynamics during 2022-2030.
Flourishing industrial outlook to push market expansion
The Europe insulation market accounted for over 26% of the revenue share in 2021 and is poised to cross USD 24 billion by 2030. The regional growth is fueled by the rapid enlargement of industrial infrastructure, pushing the existing energy requirements and impacting the demand for more energy-efficient solutions. The rapid inclination and growing awareness of green construction, IoT, and smart infrastructure may further propel insulation material sales in the region.
Technological advancements to fuel the strategic landscape
Notable players in the insulation industry include CertainTeed Corporation, Owens Corning Corp, BASF, Huntsman International, Rockwool International A/S, Dow Chemical Company, Johns Manville, Knauf Gips KG, Armacell International S.A., SY Panel Company Limited, Lloyd Insulations (India ), Duro-Last Roofing, Inc., Atlas Roofing Corporation, Shengquan Group, Recticel Insulation, Paroc, UP Twiga Fiberglass, Kingspan Group, Byucksan Corporation, Beijing New Building Material Group, Kumho Petrochemical, Supreme Petrochem Limited, Superlon Worldwide, Nichias Corporation, Shinwoo Industrial Company Limited, Sae Rom Panel, Bondor Indonesia, Kaneka Corporation, Polyglass, Mag-Isover, Luyang Energy-Saving Materials, KCC Corporation, Huamei Group, EcoFoam/Insulations.
These firms have been focusing on strengthening their technological capabilities to lead the way for future innovations and safeguard their dominance in the market. For example, in June 2022 , Owens Corning highlighted its expertise and building science knowledge during the American Institute of Architects (AIA) A'22 Conference on Architecture in Chicago , enabling contractors and architects to explore the future of fire safety, commercial building design, sustainability, and energy efficiency.
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Partial Table of Contents (ToC) of the report:
2.1 Global insulation market 360o synopsis, 2018 – 2030
Chapter 3 Global Insulation Market Industry Insights
3.9.1.1 Increase in construction spending in Asia-Pacific
3.9.1.2 Construction contributes maximum to the insulation market in Europe
3.9.1.3 Rising energy costs and building codes increasing insulation adoption in North America
3.9.2 Industry pitfalls & challenges
3.9.2.1 Building material compliances and emergence of green building products
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/insulation-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware , U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Contact Us: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free : +1-888-689-0688 USA : +1-302-846-7766 Europe : +44-742-759-8484 APAC: +65-3129-7718 Email: sales@gminsights.com
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