ALBANY,
New York, June 16, 2017:
A new research report by Transparency Market Research (TMR) states
that the global market for insulation is highly competitive. The
leading companies in this market, such as, Owens Corning and
Huntsman, are concentrating on product diversification with the use
of technology. Going forward, the key market participants will also
focus on expansion of their businesses in emerging economies, states
the research report.
According
to TMR’s estimations, the opportunity in the global market for
insulation was US$37.8 bn in 2013. Rising at a CAGR of 8.0% during
the period from 2014 to 2020, the market is likely to worth US$64.9
bn by the end of the forecast period. Among all insulating materials,
fiberglass has been enjoying a higher demand and is expected to
remain witnessing so over the next few years, reports the market
study.
This 68 page report gives readers a
comprehensive overview of the Insulation market. Browse Market
Research Report @
Residential
Construction to Remain Contributing Maximum to Global Insulation
Market
The
research report considers residential construction, non-residential
construction, and Industrial, HVAC, and OEM as the main application
area of insulation. The residential construction segment has been
registering a high demand for insulating product for last few years.
In 2013, it emerged as the leading contributor to this market with a
share of 48%. With house owners becoming aware of the benefits of
insulation, the segment is likely to retain its position throughout
the period of the forecast. The industrial application segment is
also projected to experience a healthy demand for insulation in the
years to come.
The
report also presents a geographical assessment of the global market
for insulation. As per the report, Asia Pacific led the global market
in 2013 with a share of more than 41%. Thanks to the emergence of
India and China as the two key consumers of construction materials,
the regional market is expected to remain on the top over the next
few years, notes the research study.
Depleting
Energy Resources Trigger Need for Insulation
The
global market for insulation has gained significantly from the rising
concerns over energy conservation. “The swift pace of the depletion
of energy resources and the consequent rise in energy price have
triggered the need for insulation, as it helps in energy
conservation, thereby reducing utility bills,” says the author of
the market study.
Over
the last few years, the emphasis on insulation has increased
substantially, thanks to rising level of awareness among consumers
pertaining to global warming and the alarming surge in the emission
of greenhouse gases. The technological advancements in industrial
production techniques are likely to create an extensive demand for
insulation in factories and noncommercial spaces in the near future.
Get accurate market forecast and analysis on
the Insulation market. Request a sample to stay abreast on the key
trends impacting this market@
Although
the market’s growth may be hindered by the volatility in the raw
material prices, the significant rise in the automobile industry and
the electronic industry will continue to drive this market over the
forthcoming years, states the research report.
The
study presented here is based on a report by Transparency Market
Research (TMR), titled “Insulation
Market (Fiberglass, Plastic Foam, Mineral Wool and Others) Market for
Residential Construction, Industrial, HVAC & OEM, and
Nonresidential Construction Applications - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2014 – 2020.”
The
global market for insulation is segmented into:
By
Product
- Fiberglass
- Plastic Foam
- Mineral Wool
- Other (Including cotton wool, slag wool, etc.)
By
Application
- Residential Construction
- Industrial, HVAC, and OEM
- Nonresidential Construction
By
Region
- North America
- Europe
- Asia Pacific
- Rest of the World
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
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