WASHINGTON, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Global Insulation Materials Market is valued at USD 65.1 Billion in 2021 and is projected to reach a value of USD 87.7 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.1% over the forecast period 2022-2028.
Market Overview
According to Vantage Market Research, some of the key factors anticipated accelerating the Insulation Materials market growth over the forecast period. Globally expanding expendable cash is the main driver fueling the global insulation materials market expansion. Consumer gadgets and other equipment are becoming increasingly popular as rising disposable income equates to improved economic output. Electrical insulators are included in these gadgets and appliances since they require insulating qualities, which fuels the market's expansion.
We forecast that sales of the residential construction category in the Insulation Materials market will account for more than 15% of total sales by 2028. In light of the increase in the number of properties in metropolitan areas that require extensive insulation, the sector is anticipated to expand.
Get Access to the In-depth Free Sample Report @ https://www.vantagemarketresearch.com/insulation-materials-market-1970/request-sample
Market Dynamics
Organic Products are Flourishing in Developing Nations to Boost Market Growth
The demand for environmentally friendly and sustainable insulating products is rising. These characteristics are present in insulation materials made from imperishable substances. As much as possible, insulating materials like cork, wood chips, straw, wool, reed, coconut fibers, or hemp reduce greenhouse gas emissions. Since these goods are readily available everywhere, they don't need to travel long distances for transportation. They are worth in terms of ecological estimation and are handled easily and conveniently.
Growing Automotive Application to Drive the Market Growth
Climate control systems are quickly gaining hold in the worldwide car industry as comfortability becomes a greater priority. Industry-wide ambient comfort levels are being maintained via ventilation, integrated heating, and air conditioning systems advancements. Today's requirements for expanding industrial needs increased environmental challenges, and changing customer expectations are pushing vehicle temperature control solutions and suppliers.
Top Players in the Global Insulation Materials Market
- BASF SE, (German)
- Bayer AG, (German)
- Saint-Gobain S.A, (France)
- Rockwool International, (US)
- Huntsman Corporation, (US)
- Atlas Roofing Corporation, (US)
- Bridgestone, (Japan)
- Evonik Industries AG, (German)
- GAF Materials Corporation, (US)
- Kingspan Group PLC, (Irelan)
- The DoW Chemical Company, (Brazil)
For Additional Information on Insulation Materials Market Players and Detail List, Download a Report PDF Brochure
Top Trends in Global Insulation Materials Market
- One trend Vantage Market Research (VMR) expects to see in the Insulation Materials industry is favorable government legislations. Government help and favorable legislation are crucial to the market expansion for building insulation products. Throughout the forecast period, increasing development and moving toward expanding personal projects may lead to significant growth for the building insulation materials market.
- Another trend that VMR predicts will continue in the Insulation Materials industry is the growing focus of manufacturers in the insulation materials. The market expansion is anticipated to be accelerated by manufacturers' increased concentration on reducing film thickness to improve the object's performance. Low-thickness materials improve the infrastructure's ability to support more weight and offer improved advantages in warehouse operations. Because efficient building structures can be made using low-thickness materials, demand for these materials is increasing, boosting the market's expansion.
Top Report Findings
- Based on type, most of the insulation materials market's revenue is controlled by the polyurethane form category. This substance provides superior temperature resistance for the gas. This material can be used in the field of oil and gas. The interiors of automobiles also utilize this substance for insulation.
- Based on application, most of the insulation materials market's revenue is controlled by the residential construction category. The rise in the number of highly insulated buildings in urban areas is the primary driver of this industry's expansion. In addition to providing better insulation, insulation also reduces noise and protects against fire.
Limited Time Offer | Buy this Premium Research Report with Exclusive Discount and Immediate Delivery@ https://www.vantagemarketresearch.com/buy-now/insulation-materials-market-1970/0
Recent Developments in the Global Insulation Materials Market
- Owens Corning, a company specializing in producing nonwovens, paper, and film, announced in July 2021 that it had acquired the German company vliepa GmbH. The purchase improves Owens Corning's ability to supply the European building and construction industry.
- Rockwool International AS, a stone wool-based acoustic solutions manufacturer, bought Parafon in February 2020. Gaining a foothold in the northern European market and feeding off the popularity of stone wool's superior acoustic performance, this purchase will help the company expand its customer base.
Polyurethane Foam Category in Insulation Materials Market to Generate Over 15% Revenue
Insulation Materials are an expensive investment. Vantage Market Research has analyzed the market for Insulation Materials to understand its current state and potential future growth factors. For better understanding, based on the application, the insulation materials market is divided into mineral wool/rock wool/ stone wool, polyurethane foam, polyethylene, polyvinyl chloride, expanded polystyrene (EPS), extruded polystyrene (XPS) and others (carbon glass, aerogel silicate, fiberglass, perlite, phenolic foam & glass wool.
During the forecast period, the market for insulation materials is anticipated to experience the highest CAGR for the polyurethane foam category due to its wide range of attributes, which include reduced moisture vapor absorption, strong water retention resistance, relatively significant mechanical strength, and population shrinkage. Because it has a lot of closed, disconnected microcells filled with inert gas, polyurethane foam works well as insulation (minimum 90 percent).
On the other hand, the polyester extrude category is estimated to grow significantly over the forecast period. The main drivers of the global market expansion for these materials are the rising acceptance of electrical construction materials, rising prices for extruded polystyrene insulation products, and the benefits of XPS insulation products over other fiber reinforcement like expanded polystyrene.
Asia Pacific Region in Insulation Materials Market to Generate More 36% Revenue
Asia Pacific region dominates the market throughout the projection period. Due to worries about massive energy waste, rising oil output in China and India's economy, and the requirement for materials for remodeling and refurbishing projects. Additionally, businesses in this region emphasize loss reduction to enhance performance through routine maintenance checks.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Insulation Materials Market Forecast Report (2022-2028).
Global Insulation Materials Market Segmentation
By Type
- Mineral Wool/Rock Wool/ Stone Wool
- Polyurethane Foam
- Polyethylene
- Polyvinyl Chloride
- Expanded Polystyrene (EPS)
- Extruded Polystyrene (XPS)
- Others (Carbon Glass, Aerogel Silicate, Fiberglass, Perlite, Phenolic Foam & Glass Wool
By Application
- Residential Construction
- HVAC & OEM
- Non-Residential
- Wires & Cables
- Automotive
- Oil & Gas
- Others
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Read Full Report: https://www.vantagemarketresearch.com/industry-report/insulation-materials-market-1970
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 65.1 Billion |
| Revenue Forecast by 2028 | USD 87.7 Billion |
| CAGR | 5.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | BASF SE, Bayer AG, Saint-Gobain S.A, Rockwool International, Huntsman Corporation, Atlas Roofing Corporation, Bridgestone, Evonik Industries AG, GAF Materials Corporation, Kingspan Group PLC, The DOW Chemical Company |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
Browse More Reports from Vantage Library:
- Aluminum Market - Global Industry Assessment & Forecast
- Magnetic Materials Market - Global Industry Assessment & Forecast
- Abrasives Market - Global Industry Assessment & Forecast
- Fire Window Market - Global Industry Assessment & Forecast
- Silicon Nitride Ceramics Market - Global Industry Assessment & Forecast
- Metal Powder Market - Global Industry Assessment & Forecast
- Polyimide Films Market - Global Industry Assessment & Forecast
- Top Companies in Insulation Materials Market by Size, Share, Historical and Future Data & CAGR
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
