Global Insulation Market - Overview
The global insulation material market is expected to witness moderate growth over the forecast period. The growth of building insulation material market is influenced by increased consumption in Asia, increasing FDI in construction, supportive government regulations on building insulations, and supportive government regulations & initiatives to promote construction. Fluctuation in raw material prices and unavailability of skilled labor hinder the growth of the market.
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The rise in FDI inflows was more prominent in developed economies, which received USD 962 billion in 2015, i.e. 84% more than in 2014. The Asia-Pacific region continued to receive a significant amount of FDI inflows, totaling USD 559 billion in 2015, an increase of 5.6% over 2014 level. The FDI inflows in construction in Asia-pacific region has led to increased construction projects and real-estate development. This would induce the demand for insulation in the construction scto in Asia Pacific region.
There are various organizations and departments across the globe that govern the application of insulation in the construction. This induces the market of building insulation material on a global level. In the U.S., bodies such as The American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) Standard 90.1 Energy Standard for Buildings Except Low-Rise Residential Buildings provides minimum requirements for the energy-efficient design of commercial and high-rise residential buildings. ASHRAE 90.12 is a consensus standard that provides minimum requirements for the design of energy-efficient buildings. Such regulations has spiked the demand for building insulation material across the globe.
Insulation acts as a barrier to heat loss and heat gain, particularly in roofs, ceilings, walls and floors. Insulation in any building provides resistance to heat flow and lowers the heating and cooling costs. In addition, insulation may reduce condensation in the home. This can provide health benefits by reducing mould and damp. This would drive the market for insulation.
Key Players:
- Huntsman Corporation
- Knauf Gips
- Owens Corning
- CertainTeed Corporation
- Johns Manville
- Bayer AG
- Atlas Roofing Corporation
- Dow Building Solutions
- Nova Chemicals Corporation
- GAF Materials
Global Insulation Market - Segments
Global Insulation Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Material: Comprises – Fiberglass, Plastic fibers, Mineral Wool, Natural fibers and others
Segmentation by Application: Comprises – Residential, and Non-residential
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global Insulation Market - Regional Analysis
North America is the second largest region for the building insulation material market. The North America building insulation material market is driven by various factors such as consumer preference for green buildings and sustained investments in commercial real estate. In North America, U.S. is the largest market for the modular construction. It accounted for the largest market share in 2016. In the past few years, the annual value of construction in U.S. had been increasing continuously. Strong development in commercial and residential structures in the U.S., is projected to fuel the demand for insulation in the construction market in the region.
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