DUBLIN, April 5, 2018 /PRNewswire/ --
The "Global Insulation Materials Market: Focus on Type (Mineral Wool, Polyurethane Foam, Expanded Polystyrene, Polyethylene, XPS, and PVC) & Application (Residential Construction, Non-Residential, and Wires and Cables) - Analysis & Forecast (2017-2021)" report has been added to ResearchAndMarkets.com's offering.
The global insulation materials market is expected to reach $53,360.5 million by 2021, growing at a CAGR of 6.2% between 2016 and 2021.
This enormous growth is being anticipated due to the various benefits provided by insulation materials such as environmental benefits, emission reduction, less energy consumption, and the material's potential to be recycled and reused. These factors have contributed to the colossal demand of the insulation materials. Additionally, an increasing number of applications of insulation materials owing to their emission reduction potential, the building rating systems, stringent government regulations & emission control norms, and large-scale investment by government and federal agencies are some of the other factors propelling the growth of insulation materials market globally.
The demand for insulation materials vary according to various geographical regions. The insulation materials market holds a prominent share in various countries of North America, Asia-Pacific (APAC), Europe, and Rest of the World (RoW). The Asia-Pacific market accounted for major share in the total revenue in the year 2016. The region is reported to have highest growth rate as compared to the others because of the high growth in the automotive, construction, and telecommunication industries along with rapid industrialization and digitalization. Increasing insulation demand from the Asia-Pacific region is majorly attributed to growing automotive, construction and industrial sectors. Additionally, low cost of setting up of manufacturing facilities and low cost of insulation materials in the region further propels the demand of insulation materials in the Asia-Pacific market.
The global insulation materials market is a highly competitive industry, with all its players competing to gain a greater market share. Rockwool International A/S, Knauf Insulation, Covestro AG, Owens Corning, and Saint-Gobain S.A. are some of the leading companies in this market. Most of the insulation materials manufacturers are of the similar financial capability and the landscape is extremely competitive because of the presence of a large number of players in the market. Therefore, innovation and development has been the key for gaining growth in this market.
To increase the global footprint, insulation material manufacturers are also entering new product launches, and mergers & acquisitions with different distribution networks. For instance, in November 2017, Rockwool International A/S started the construction of a basalt mineral wool production plant in Romania with an investment of $55.3 million. The expansion is expected to help the company move towards fire safety and energy efficient buildings. Additionally, in October 2017, the company purchased 180,000m2 of land in the eastern Swedish municipality of Eskilstuna. The expansion is done with an aim of future expansion of mineral wool production capacity and meet the future demands.
Other key players operating in this market have ramped up their product launch activities over the recent years, to generate public awareness about their existing and new products and technologies, and to compete with the competitors' product portfolio. For instance, in August 2017, Knauf Insulation launched a system called Supafil Frame to automate the installation of blown glass mineral wool during off-site manufacturing.
The system is expected to reduce the time required to insulate modular homes. Similarly, in December 2014, BASF SE changed its entire polystyrene-based insulation product portfolio as per the European market to the new polymeric flame retardant (PolyFR). The change is in compliance with the REACH regulation which restricts the use of hexabromocyclododecane (HBCD) as a flame retardant as of 21 August 2015.
Moreover, extensive R&D activities and appropriate regulatory environments are also a prerequisite for the sustained growth of this market. Various government and private research institutes, and favorable trade policies are putting in substantial efforts to reduce the energy consumption and increase the awareness about insulation materials and its benefits among the consumers.
Key Topics Covered:
Executive Summary
1 Report Scope & Methodology
1.1 Report Scope
1.2 Global Insulation Materials Market Research Methodology
2 Market Dynamics
2.1 Drivers
2.1.1 Significant Reduction in Energy Consumption and its Related Costs
2.1.2 Stringent Regulations to Reduce Greenhouse Emissions & Increase of Net Zero Energy Buildings
2.1.3 Population Growth and Urbanization
2.2 Restraints
2.2.1 Volatile Raw Material Prices
2.2.2 Lack of Awareness in the Construction Industry
2.3 Opportunities
2.3.1 Rising Demands from End-User Industries
2.3.2 Rising Concern for Changing Climatic Conditions and Global Warming
2.3.3 Increasing Energy Conservation Regulations and Greenhouse Gas Emission Reduction Targets
3 Competitive Landscape
3.1 Key Market Developments & Strategies
3.1.1 Business Expansion & Contracts
3.1.2 Mergers & Acquisitions
3.1.3 Product Launches
3.1.4 Partnerships/Agreements
3.1.5 Others
3.2 Global Insulation Materials Player Share Analysis
3.3 R & D Analysis of Leading Players in Global Insulation Materials Market
4 Industry Analysis
4.1 Supply Chain Analysis
4.2 Industry Attractiveness
4.3 Opportunity Matrix Analysis
4.4 Country Share Analysis
5 Global Insulation Materials Market by Type, 2016-2021 ($Million and Kilotons)
5.1 Assumptions for Analysis and Forecast of the Global Insulation Materials Market
5.2 Limitations for Analysis and Forecast of the Global Insulation Materials Market
5.3 Market Overview
5.4 Mineral Wool
5.5 Polyurethane Foam
5.6 Expanded Polystyrene (EPS)
5.7 Polyethylene
5.8 Extruded Polystyrene (XPS)
5.9 Polyvinyl Chloride (PVC)
5.1 Others
6 Global Insulation Materials Market by Application, 2016-2021, ($Million and Kilotons)
6.1 Residential Construction
6.2 Non-Residential
6.3 Wires and Cables
6.4 HVAC & OEM
6.5 Automotive
6.6 Oil & Gas
6.7 Others
7 Insulation Materials Market, by Region, 2016 - 2021, ($Million and Kilotons)
8 Company Profiles
- Armacell International S.A.
- Atlas Roofing Corporation
- BASF SE
- Cellofoam North America Inc.
- Covestro AG
- Dow Building Solutions
- Evonik Industries AG
- Fletcher Insulation
- GAF Materials Corporation
- Huntsman Corporation
- Johns Manville
- Kingspan Group Plc.
- Knauf Insulation
- NOVA Chemicals Corporation
- Owens Corning
- Rockwool International A/S
- Saint-Gobain S.A.
- Superglass Insulation Ltd.
- URSA Insulation S.A.
For more information about this report visit https://www.researchandmarkets.com/research/whmcrk/global_insulation?w=5
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SOURCE Research and Markets