Luton, Bedfordshire, United Kingdom, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Insulation Products Market.
The global insulation products market size is expected to grow at 5.7% CAGR from 2023 to 2029. It is expected to reach above USD 85.53 billion by 2029 from USD 52.38 billion in 2022. The insulation products market refers to the industry that produces and distributes materials used for thermal insulation in buildings, industrial facilities, and transportation. Insulation products are used to reduce the heat transfer between the interior and exterior of a building or structure, improving energy efficiency and reducing energy costs.
The market for insulation products is driven by several factors, including increasing energy costs, stricter energy efficiency regulations, and growing awareness of the need to reduce greenhouse gas emissions. Additionally, the construction industry's growth and the expansion of industrial activities are contributing to the demand for insulation products.
Industry Developments
- In July 2021, Owens Corning announced the acquisition of vliepa GmbH (Germany) which specializes in the coating, printing, finishing of nonwovens, paper and film for the building materials industry. The acquisition helps Owens Corning to serve the building and construction market in the European region.
- In February 2020, Parafon, the producer of stonewool based acoustic solutions has been acquired by Rockwool International AS to become a part of its Rockfon business. By acquiring this company, Rockfon is establishing its footmarks in northern Europe and nourishing stone wool with its excellent acoustic performance in order to enhance the range of consumers and segments.
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Driver and Restrain:
Building & Construction sector will lead the market growth during and post-COVID-19 pandemic
In recent times, there has been a growing awareness of insulation products in the building and construction industry worldwide. The trend towards constructing energy-efficient buildings has bolstered demand for insulation products between 2018 and 2021. Building and construction is expected to maintain its dominance in the end-use market, accounting for a market share of over 35% throughout the forecast period. The increasing need for energy-efficient goods and equipment, acoustic insulation in partitions, and the technical advancement of HVAC equipment in the construction sector are driving the demand for insulation products.
Moreover, a large number of public transport vehicles have adopted air-conditioned technology, and insulation finds applications in heat shields, battery insulation, fire protection, and insulation for data recorders. Fireproofing of bodywork and interiors is also an essential aspect of vehicle safety. High-temperature insulation not only enhances vehicle safety but also supports advanced technological vehicle components and extends the useful lifespan of vehicles.
Additionally, the COVID-19 vaccination drive is fueling growth in the cold storage industry, which, in turn, is driving the demand for thermal insulation materials.
Poorly mixed chemicals leading to health risk and ineffective insulation
The production of insulation materials is a major environmental concern due to the emission of greenhouse gases during the manufacturing process. Polyurethane foam, for example, emits highly harmful greenhouse gases such as hydrochlorofluorocarbons (HCFC), which are less damaging to the environment than Chlorofluorocarbon (CFC) but still have an impact. To mitigate this, emission rates during polyurethane foam manufacturing are highly regulated and standardized. Manufacturing plants are expected to conduct regular checks and take measures to reduce the emission of hazardous air pollutants. In many developed countries, the use of methylene-chloride-based insulation products is prohibited to curb the emission of greenhouse gases.
| Report Attribute | Details |
| Insulation Products Market size value in 2022 | USD 52.38 billion |
| Revenue forecast in 2029 | USD 85.53 billion |
| Market Growth rate | CAGR of 5.7% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2020 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Revenue in USD Million, volume in units, CAGR from 2022 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, trends |
| Segments covered | By Insulation Type: Material type; End Use industry and By Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; France; Italy; U.K.; China; India; Japan; Brazil; Saudi Arabia |
| Key companies profiled | Covestro AG, Owens Corning Corp., Rockwool International A/S, Saint-Gobain ISOVER, Knauf Insulation, Huntsman Corporation, Armacell International S.A., Johns Manville Corporation, Kingspan Group. |
| Customization scope | Free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Companies Covered in Insulation Products Market Report:
- Covestro AG
- Owens Corning Corp.
- Rockwool International A/S
- Saint-Gobain ISOVER
- Knauf Insulation
- Huntsman Corporation
- Armacell International S.A.
- Johns Manville Corporation
- Kingspan Group.
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Report Benefits
- Develop business strategies by understanding the trends shaping and driving the Market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Insulation Products Market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of Insulation Products Market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track sales in the global and country-specific Market.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Key Benefits for Stakeholders
- This report provides a detailed quantitative analysis of the current Insulation Products Market trends and estimations from 2022 to 2029, which assists to identify the prevailing opportunities.
- An in-depth analysis of Insulation Products Market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
- Region-wise and country-wise market conditions are comprehensively analysed in this report.
- The projections in this report are made by analysing the current trends and future market potential from 2022 to 2029 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global Insulation Products Market.
Key Market Segments: Insulation Products Market
By Insulation Type
- Thermal
- Acoustic
By Material Type
- Mineral Wool
- Polyurethane Foam
- Flexible Elastomeric Foam
By End Use Industry
- Building and Construction
- Industrial
- Transportation
- Consumer
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
Frequently Asked Questions About This Report
- How big is the Insulation Products Market?
- What is the Insulation Products Market growth?
- Which segment accounted for the largest Insulation Products Market share?
- Who are the key players in the Insulation Products Market?
- What are the factors driving the Insulation Products Market?
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