(EMAILWIRE.COM, August 17, 2018 ) Industry Trend Analysis

The insulation market was valued around USD 40.06 billion in 2014 and is expected to reach roughly USD 74.75 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 7.06% during the forecast years, owing to rising consumer awareness about energy conservation. The encouraging regulatory circumstances in the majority parts of the globe, like novel building codes in the EU which necessitate amplified insulation utilization to trim down energy consumption and it is also anticipated to influence demand growth positively. Rising infrastructure expenditure in developing markets of Asia Pacific region such as China, India, Thailand, Indonesia, etc. is also anticipated to encourage growth over the next few years. Unstable prices of major raw materials are projected to pose a major challenge for market players. Raw materials like styrene that are utilized to produce plastic foams are experiencing volatility because of uncertain prices of crude oil. Such problems are projected to challenge major industry players concerning production costs and profitability. Though, in the present scenario, lesser crude oil cost is anticipated to promote the demand growth for plastic foam. Eminent level of desegregation subsists in the foamed plastic industry as the staple suppliers are incorporated ahead to produce insulation products. Key players in the global market are expected to aim for initial mover benefit in order to attain a bigger share and also enlarge the portfolio of the product. Rising expenditure on R&D by key manufacturers is predicted to have a positive impact on the global market. Top players have been concentrating on acquisitions mergers and to develop their existence in the developing regions. Huntsman acquired around 20% shares in Nippon Aqua Co. Ltd. in accordance strengthen grip in the East Asian market during 2013.

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Product Outlook and Trend Analysis

In 2015, the largest product used was Foamed plastic and was reported for around 45% of the overall revenue. Foamed plastic is extensively employed for acoustic as well as thermal insulations in non-residential and residential applications owing to its elevated insulation rate. Plastic foam material demand is also likely to initiate from freezers and refrigerators. Fiberglass is also a type of insulation material that will find a rise in demand from the recoiling construction segment in Canada and U.S. The product is extensively utilized in North America owing to its beneficial properties such as ease of installation and low cost and is hence favored by DIYers. Increasing demand, particularly for thermal insulations mainly used for energy proficient applications, is projected to fuel the total growth of product sector.

Application Outlook and Trend Analysis

The residential application section is expected to rule the market and is estimated to reach a substantial amount by the end of forecast period. Rising need for thermal insulation for households in North America and Europe is predicted to fuel the growth of the applications. The United States Dept. of Energy initiative through Weatherization Assistance Program (WAP) to amend the energy competence of low-income houses by federal financial support is anticipated to impact the insulation demand in residential construction positively. Increasing residential infrastructure segment around developing region is likely to further balance the market growth during the forecast years. Rising urbanization in developing countries of Asia Pacific region has amplified the need for improved public and commercial infrastructure. This trend together with encouraging regulations concerning the energy competence of these buildings is anticipated to fuel insulation requirement in non-residential building application during the forecast years.

Regional Outlook and Trend Analysis

Asia Pacific regional insulation market directed the global market and reported for around 40% of overall revenue in 2015 globally. The local market is distinguished by elevated insulation requirement in commercial and residential buildings. Eminent industrialization rates together with amplified construction expenditure in developing countries like India and China along with Thailand, Indonesia, Philippines, and Malaysia have impelled the need for improved infrastructure. Increasing thermal insulation demand in commercial and residential buildings is anticipated to be a key driving factor for the demand from North American region. Rising awareness amongst customers about regulatory policies and energy conservation to cut down greenhouse gas discharges is anticipated to impact the regional market growth positively. North America’s regional insulation market growth will be prejudiced by initiatives taken by the government like Weatherization Assistance Program that encourages thermal insulation, particularly in low-income households. The regional market growth for thermal insulation can also be assigned to the demand of insulation material for construction restoration.

Competitive Outlook and Trend Analysis

The global insulation industry is distinguished by the existence of international conglomerates. Manufacturing of these materials is extremely capital-centric and thus, the hurdles to access are high. Accomplishing economies of level remains the key focal point for market participants to survive the rivalry. The market is dominated by 4 key companies by means of a very little difference in their product presentation. Due to infrastructure expansion in developing regions, key players are concentrating on attaining a first mover benefit in this profitable industry. Competition in the market is greatly impacted by ecological regulations. Major players working in the market include Huntsman Corporation, Rockwool, Knauf, Johns Manville Corporation, and Saint-Gobain S.A.

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The global insulation market is segmented as follows:

By Product type

Fiberglass
Plastic Foam
Mineral Wool
Other Product Types

By Application

Residential Construction
Industrial, HVAC, and OEM
Nonresidential Construction

By Region:

North America
U.S
Canada
Mexico

Europe
Germany
France
UK
Italy
Spain
Rest of Europe

Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific

Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others

Some of the key questions answered by the report are:

What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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