Global Insulation Products Market Expected To Reach $ 58.48 Billion By 2020 At A CAGR Of 7.46% Between 2016 And 2020

Date: 2016-09-18

The global Insulation Products market was estimated at USD$ 40.81 billion in 2015, and is anticipated to reach USD$ 58.48 billion by 2020, at a CAGR of 7.46% between 2016 and 2020. Growing consumer awareness regarding energy conservation is expected to remain a key driving factor for global insulation market.

The market for insulation products is driven by the growing demand in industries such as construction of both, residential and commercial buildings, automotive, OEMs, aerospace & defense, and maritime in both, developed and developing countries. Insulation products are highly preferred to retain the comfort quality of the living space and to minimize the heat flow.

The favorable regulatory scenario in most parts of the world, such as new building codes in the European Union which require increased insulation usage to reduce energy consumption, is also expected to have a positive influence on the demand growth. Increasing infrastructure spending in emerging markets of Asia Pacific such as India, China, Indonesia, Thailand, etc. is also expected to spur growth over the next eight years

The thermal insulation segment is projected to be the fastest-growing insulation type in the insulation products market in the next five years. Thermal insulation is highly preferred in the construction of residential and commercial buildings, and in OEM manufacturing industrial sites such as automotive, HVAC, aerospace, and mining to minimize the heat flow.

The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by Europe, from 2016 to 2021. China accounted for the largest consumption of insulation products, followed by Japan, in 2015. In North America, the U.S. is the largest consumer of insulation products. The key reasons attributed to the growth in the Asia-Pacific region are emerging economies, government initiatives for FDI, growing awareness of insulation products, and, most importantly, the increasing trends in end-use industries such as construction and OEMs among others.

According to survey, the region of Insulation Products market share as following:
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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