$71.7 Billion Global Insulation Products Market – Global Forecast to 2026: Increasing Warehouse Construction Driving Demand for Quick-To-Install Insulation Materials – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Insulation Products Market by Insulation Type (Thermal, Acoustic), Material Type (Mineral Wool, Polyurethane Foam, Flexible Elastomeric Foam), End-use (Building & Construction, Industrial, Transportation, Consumer), and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global Insulation products market is projected to grow from USD 55.1 billion in 2021 to USD 71.7 billion by 2026, at a CAGR of 5.4% between 2021 and 2026
The insulation products market is expected to grow at a moderate growth rate owing to factors such as: growing steel and aluminium industries in developing nations, increasing number of warehouse construction driving demand for quick-to-install insulation materials are driving the growth of insulation products market in Asia Pacific countries.
The COVID-19 pandemic leading to disruption in the value chain, stringent environmental regulations related to manufacturing of PUF are hindering the growth of Insulation products market.
FEF-based Insulation products is projected to witness the highest CAGR during the forecast period
FEF-based Insulation products market is projected to witness the highest growth during the forecast period. The growth in this segment is attributed to its properties such as exceptional ability to control condensation on cold mechanical systems, is fiber-free, and has low-VOC for chemical emissions. This makes it best suited for HVAC, refrigerant, ducting and piping applications.
The transportation segment projected to lead the Insulation products market from 2021 to 2026
The transportation segment is the fastest-growing Insulation products market by end use. Mass transit riders, office workers, students are among those who spend a significant amount of time in public transit to and from various daily activities, and hence it becomes very crucial to maintain the indoor air quality in public transport vehicles.
This has led to increase in demand for air-conditioned commercial vehicles, personal cars, metros and trains which further increases the demand for Insulation products market. Countries such as the US, China, Germany, India, Japan, and South Korea are also promoting electric vehicles which acts a driver for the Insulation products market in transportation sector.
Asia Pacific projected to account for the maximum share of the global Insulation products market during the forecast period
Asia Pacific is projected to lead the global Insulation products market from 2021 to 2026. Asia Pacific is the world’s leading consumer as well as producer of Insulation products. The market in the region is driven because of the emerging economies such as India and China, which are growing rapidly.
This growth and development are mainly attributed to the high economic growth rate in the region, followed by heavy investments across industries, such as building & construction and automotive.
The global Insulation products market comprises major manufacturers such as Covestro AG (Germany), Owens Corning Corp. (US), Rockwool International A/S (Denmark), Saint-Gobain ISOVER (France), Knauf Insulation (US), Huntsman Corporation (US), Armacell International S.A. (Luxembourg), Johns Manville Corporation (US), Kingspan Group (Ireland), Soprema Group (France), Cellofoam International GmbH (Germany), Recticel NV/SA (Belgium), China Jushi Co. Ltd. (China), and Rogers Corporation (US).
- Demand for Insulation Products to Increase in Asia-Pacific During Forecast Period
- Asia-Pacific Held Largest Market Size in 2020
- PUF and China Accounted for Largest Shares of Insulation Products Market in Asia-Pacific
- Mineral Wool Accounted for Largest Market Share in Europe
- China to be Fastest-Growing Market During Forecast Period
- Growing Steel and Aluminum Industries in Developing Nations
- Increasing Awareness About Acoustic Insulation in Building & Construction Industry
- Increasing Warehouse Construction Driving Demand for Quick-To-Install Insulation Materials
- Toxic Chemicals Used as Raw Materials Leading to Health Risks and Ineffective Insulation
- Shrinking Pipelines of New Coal-Based Thermal Power Plants
- Various Government Schemes to Boost Manufacturing Sector in Asia-Pacific
- Stringent Regulations Mandating Use of Insulation Materials for Energy Conservation
- High Training Costs Associated with Application Engineers and Contractors
- Fluctuating Raw Material Costs Leading to Pricing Pressure on Insulation Manufacturers
- Sol-Gel Process
- Nano Compositing
- Supercritical Drying
- Stelmor Process
Case Study Analysis
- Pyrotek Acoustic Insulation for Cinema Hall
- Stone Wool Insulation Slab Used Across Salamander Street
- A Case Study on Aerogel by Helix Energy Solutions Group
- A Case Study on Aspen Aerogels Contract for PTT LNG Insulation
- Aeroflex Company Limited
- Armacell International SA
- Aspen Aerogels, Inc.
- Atlas Roofing Corporation
- BASF SE
- Cellofoam International GmbH
- China Jushi Co. Ltd.
- Covestro AG
- GAF Materials Corporation
- Helix Energy Solutions Group
- Hira Industries LLC
- Huntsman Corporation
- Johns Manville Corporation
- Kingspan Group
- Knauf Insulation
- L’Isolante K’Flex S.p.A
- Morgan Advanced Materials plc
- Nano Tech Co. Ltd.
- Owens Corning
- PTT LNG
- Recticel NV/SA
- Rockwool International A/S
- Rogers Corporation
- Saint-Gobain Isover
- Soprema Group
- URSA Insulation SA
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