Insulation Products Market is projected to be worth USD 105.80 Billion by 2030, registering a CAGR of 9% during the forecast period (2022 - 2030)
Insulation Products Market is projected to be worth USD 105.80 Billion by 2030, registering a CAGR of 9% during the forecast period (2022 - 2030). The market was valued at USD 63.15 billion in 2021. Insulation materials are high-quality materials that prevent heat, electricity or short-circuiting in electronic devices. There are three major categories in the market that gaining huge traction. There is heat, thermal and electric insulation. Through proper installation and proper materials, the use of insulation products is exceptional. One of the major benefits of the insulation products is the need to reduce energy consumption.
The energy efficiency in buildings and other constructions is higher through these products. These products act as a barrier to prevent short circuits or energy overflow in electric products. The factor that affects the insulation of the building is climatic changes. The low thermal conductivity and polyethene foam are crucial insulation products available these days. Protecting a building or electronics equipment are some of the crucial benefits of the insulation products.
The demand for residential construction is growing in the forecast period. The demand from this sector is expected to increase adoption rate in both residential and non-residential constructions. Rapid urbanization and industrialization in emerging economies creates more opportunities in the market. The rising construction activities in Asia pacific market are expected to increase overall market revenue.
Regional Analysis of Insulation Products Market: North-America is the largest market for insulation products, followed by Europe. Increasing demand for thermal insulation in residential and commercial building & government initiatives such as Weatherization Assistance Program, which promotes the thermal insulation, are the major factor driving the North America market. Asia-Pacific is expected to expand fastest over the forecasted period because high rate of industrialization & construction activity.
Market Size of Insulation Products Market by Regions (USD Million):
Owens Corning is a company that is announcing its acquisition with the German company name Gmbh. This company is an expert producer of printing and coating products. The growth of the paper and film material market is higher due to this acquisition. These companies will meet the demand of the construction industry in Europe.
Convestor AG is a company that collaborates with Recticel Company. These companies specialize in mattress production. This collaboration is expected the production of polyethene foam. Reducing raw materials is possible through the partnership of these companies. Study Objectives of Insulation products Market:
The report for Insulation Products Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: USD 105.80 Billion|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Insulation Type, By Materials, By Application and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Sika AG, Trelleborg AB, Owens Corning, BASF SE, Knauf Insulation, John Manville Inc., 3M Company, Dunmore Corporation, DuPont, and Avery Dennison Corporation|
|Key Market Opportunities||Volatile prices of raw materials are expected to remain a key challenge for industry participants.|
|Key Market Drivers||Increasing industrial & construction activities and increasing awareness about energy conservation are boosting market growth.|
The insulation products market is projected to grow at a 9% CAGR between 2021-2028.
North America is expected to lead the insulation products market.
Residential segment will dominate the insulation products market.
Increasing industrial & construction activities and increasing awareness about energy conservation are boosting market growth.
Volatile raw material prices may deter market growth.