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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