Articles

Global Insulation Market Trends, Leading Players, Growth and Future Analysis

by Vijay K. Web Marketing
Manufacturing plants are increasingly deploying insulating materials in turbines, boilers, exhaust systems, incinerators, and stacks, on account of the high demand for acoustic and thermal insulation in such industrial equipment. Owing to the rapid industrialization in developing countries, such as Indonesia, Thailand, India, Malaysia, the Philippines, and China, the consumption of insulating products will surge in the coming years. This will accelerate the insulation market at a CAGR of 8.6% during 2018–2025. The market stood at $52.3 billion in 2017, and it has the potential to reach $101.3 billion by 2025.


The various types of insulating materials available include glass wool, mineral wool, expanded polystyrene (EPS), extruded polystyrene (XPS), and others. Among these, the EPS category accounted for the highest demand in the past, and it is expected to keep on this path in the years to come. This is because EPS has several acoustic and thermal insulation applications due to its low weight, durability, fire retardancy, high tensile strength, energy-saving properties, and recyclability.

Owing to the proven effectiveness of insulation in reducing energy consumption, government bodies worldwide are encouraging its usage by implementing stringent laws. Additionally, tax credits are offered in the U.S. for qualifying insulation purchases. For this, insulating material with a varying thermal resistance (R-value) is recommended for different areas of houses, such as attics, floors, and walls. For instance, the Energy Performance of Buildings Directive (EPBD) of the European Union focuses on the usage of insulating material of different grades and their performance.

As a result of the EU’s strict mandates on energy efficiency, the demand for insulating materials has been the highest in Europe till now. Moreover, consumers are also realizing the benefits of insulated buildings, the biggest of which is electricity cost savings, which is why they are using more of such materials. With time, the increasing awareness about such advantages will lead to the fastest-rising demand for such materials in Asia-Pacific (APAC). Further, the region is witnessing numerous energy conservation initiatives, rapid industrialization, and quick economic growth.


In fact, a key opportunity for the players in the insulation market is the increasing infrastructure development activities in Mexico, Russia, India, South Africa, Brazil, China, and numerous other emerging economies. This, complemented by the rising concerns regarding GHG emissions from the power sector and surging government focus on energy-efficient buildings, is expected to drive the consumption of insulating materials in these nations. With the booming population and increasing disposable income making these countries increasingly urbanized, the market for insulation will keep growing.

Therefore, with the rising concerns regarding GHG emissions, the energy conservation initiatives being implemented to check the same will drive insulation efforts.

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About Vijay K. Senior   Web Marketing

211 connections, 3 recommendations, 862 honor points.
Joined APSense since, May 17th, 2016, From New York, United States.

Created on Apr 8th 2021 06:56. Viewed 255 times.

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