Pune India, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the insulation boards market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the insulation boards market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the application, material type, end-user and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global insulation boards market are ABB, Weidmann, Taizhou Xinyuan, BASF SE, Xtratherm Ltd., EcoTherm Insulation, The Dow Chemical, Kingspan Insulation, INSUboard, Fibretex India Private Limited, Icopal Ltd., Johns Manville, Polyform, Ballytherm Ltd. among other. To achieve a substantial market share in the worldwide insulation boards market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Insulation boards are without a doubt one of the most well-known and often-used types of insulation. It is possible to effectively insulate users' homes, which will drastically save energy expenditures. Living comfort will also considerably increase. The type of insulation panel the user select will have a significant impact on the price of the insulation boards. Users likely pay around £10 per square metre for EPS boards, which are frequently the least-priced insulating boards. Prices for PIR boards range from £5 to £15 per square metre. XPS insulation panels range in price from 10 to 15 pounds per square metre, depending on the thickness. The U.S. DOE claims that insulating boards have strong thermal resistance and reduce heat transfer via structural elements like steel and wood studs. If foam board insulation is installed appropriately, it's decreased capacity to conduct heat can help keep a home more comfortable. Conduction is the movement of heat across a medium. In order to make foam board insulation, polyurethane, polyisocyanurate, and polystyrene are the three components that are most usually employed. The US DOE describes polystyrene as a transparent, colourless thermoplastic. All forms of expanded polystyrene, including EPS and extruded polystyrene, can be moulded. Polystyrene is used to make both EPS and XPS, however EPS is produced by joining microscopic plastic beads, whilst XPS is produced by pressing molten material into sheets.
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Scope of insulation boards market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Application, Material Type, End-User and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | ABB, Weidmann, Taizhou Xinyuan, BASF SE, Xtratherm Ltd., EcoTherm Insulation, The Dow Chemical, Kingspan Insulation, INSUboard, Fibretex India Private Limited, Icopal Ltd., Johns Manville, Polyform, Ballytherm Ltd. among other. |
Segmentation Analysis
The wall insulation segment is expected to be the fastest-growing segment in 2022.
The application segment is wall insulation, roof insulation, floor insulation, and others. The wall insulation segment is expected to witness the highest growth rate during the forecast period. The category is growing as more people are becoming aware of the financial advantages of installing efficient building insulation. Wall insulation is one of the most important factors in increasing a building's energy efficiency. Insulated walls form a protective envelope that reduces the energy required to heat or cool a building structure by preventing heat transfer from the outside environment through conduction and convection radiation.
The building & construction segment is expected to be the fastest-growing segment in 2022.
The end-user segment includes building and construction, consumer appliances, transport, and others. The building & construction segment is expected to witness the highest growth rate during the forecast period. The industry is expected to grow as a result of the increase in the number of buildings in major cities that need extensive insulation. After the building business, the transportation and residential construction sectors came in second and third, respectively, and are projected to grow at high CAGRs between 2023 and 2030. The petrochemical industries and refineries are insulated for a variety of reasons, such as energy conservation, temperature maintenance, heat gain/loss reduction, efficient equipment operation or chemical reaction, condensation prevention, etc.
The extruded polystyrenes segment is expected to be the fastest-growing segment in 2022.
The material type segment includes polyurethane, polyisocyanurate, extruded polystyrenes, and others. The extruded polystyrenes segment is expected to witness the highest growth rate during the forecast period. With minimal impact on the environment, the solution has the potential to replace current building insulation materials. Another naturally occurring byproduct of volcanic eruptions is stone wool. It has a high thermal resistance because it combines the advantages of stone with the natural thermal insulation qualities of wool.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the insulation boards include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. This is a result of the region's rapidly growing construction sector. A number of new sectors will also emerge as a result of growing urbanisation. As a result, it's expected that there will be a significant increase in demand for insulation boards in the Asia Pacific region. China and India are the main contributors to the overall growth of the region because of the large concentration of market participants involved in the production of insulation boards in these two countries. The rising building sector and the world's rapid industrialization will also enhance demand for insulating boards during the forecast period.
Country Analysis
- Germany
Germany's Insulation board market size was valued at USD 2.52 billion in 2022 and is expected to reach USD 3.07 billion by 2030, at a CAGR of 2.5% from 2023 to 2030. Germany is a significant market for insulating boards in the European region. Having access to highly advanced technology benefits the country. The large consumer spending on homes and other housing-related structures is another factor that promotes market expansion.
- China
China’s Insulation boards’ market size was valued at USD 4.5 billion in 2022 and is expected to reach USD 5.92 billion by 2030, at a CAGR of 3.5% from 2023 to 2030. The building industry has a promising future, thanks in large part to state subsidies and cheap interest rates on loans. The rising need for new residential infrastructure in China is the primary factor driving the market expansion for insulation boards.
- India
India's Insulation boards market size was valued at USD 3.88 billion in 2022 and is expected to reach USD 4.91 billion by 2030, at a CAGR of 3.0% from 2023 to 2030. India is quickly urbanising; by 2020, 35% of the country's population will reside in cities. By 2030, it's expected to rise to 40%, or almost 600 million people living in cities. The main drivers of urbanisation in India are the expansion of cities and population movement. Investments can be made in housing, the road network, urban transit, the water supply, electricity generation infrastructure, smart cities, and other facets of urban management. Due to the increased demand for homes and businesses, urbanisation has accelerated the growth of India's insulation board industry.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the insulation boards market is mainly driven owing by the increase in construction activities.
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