Vancouver, British Columbia, March 11, 2021 (GLOBE NEWSWIRE) -- The global insulation materials market size is expected to reach USD 82.96 Billion in 2027 and register a moderate CAGR over the forecast period, according to latest analysis by Emergen Research. Market revenue growth is high and expected to incline rapidly going ahead due to rising demand for insulation materials attributed to rising focus on need to reduce energy consumption in buildings. Insulation of roofs, walls, attics, and foundations are a vital requirement for energy-efficient residential buildings. Glass is not a very good insulator, and deployment of insulation materials on see-through windows, envelopes, and skylights substantially reduces heat loss or heat gain, causing a reduction in heat transfer and vapor condensation. Consequently, insulation materials lead to prevention of humidity, freezing, mold, and deformation occurring in buildings and constructions due to corrosion.
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Insulation materials in automotive applications provide a robust heat loss barrier and maintain the optimal temperature to enhance engine performance and decrease carbon-dioxide emissions. The effective thermal insulation of automotive performs a crucial role in optimal thermal management, which is of immense significance in providing better battery backup and longer battery life. Furthermore, it adds to convenience of passengers.
Some Key Highlights In The Report
- In December 2019, Huntsman Corporation announced the acquisition of Icynene-Lapolla, which is a firm engaged in the production and distribution of Spray Polyurethane Foam (SPF) insulation systems for residential usage and commercial sectors.
- Glass wool is beneficial in offering effective thermal insulation, reduced energy consumption, and decreases temperature variations. Also, it helps in lessening sound transmission between walls.
- Expanded Polystyrene (XPS) material finds wide application in new and retrofit construction. However, owing to its production process, the material is available in rectangular/square boards of standard dimensions.
- Increasing demand for green buildings is attributed to stringent environmental regulations. Programs like LEED are significantly driving focus on green buildings, and in turn boosting market growth.
- Industrial hemp is a kind of green insulation material, which has been gaining substantial momentum in the global market.
- Growth of the market in Europe is driven by imposition of mandatory government regulations for undertaking energy renovation measures and initiatives.
- Key players in the market include Roxul Inc., Huntsman International LLC, Kingspan Group, Owens Corning, BASF, GAF Materials Corporation, Johns Manville, The Dow Chemical Company, Cellofoam North America Inc., and Covestro AG, among others.
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Emergen Research has segmented the global insulation materials market on the basis of product type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Glass Wool
- Mineral Wool
- Expanded Polystyrene (EPS)
- Aerogel
- Extruded Polystyrene (XPS)
- CMS Fibers
- Calcium Silicate
- Polyurethane
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Infrastructure
- Industrial
- HVAC
- Transportation
- Appliances
- Furniture/Bedding
- Packaging
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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About Emergen Research
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