The global building thermal insulation market is anticipated
to reach USD 36.9 billion by 2025, according to a new report by Grand View
Research, Inc. The demand for energy is on a rise in the developed as well as
developing countries and so is the price of energy.
Insulating homes help in curbing
up to 20% of the regular energy costs as it considerably reduces the cooling
and warming prices during summers and winters. All these factors have propelled
the demand for thermal insulation market in residential as well as commercial
buildings. Re-insulation of old houses provides a lucrative opportunity.
Europe is expected to account for
the largest demand owing favorable government regulations. Asia Pacific is
anticipated to emerge as the fastest growing region, and China is likely to
account for a major share of the market. Other countries in this region such as
the Philippines, Indonesia are expected to witness rapid growth in upcoming
years.
The market is mature and owing to
large numbers of players it is considered to be price sensitive. Implementation
of stringent regulation poses a major challenge to most of the market
participants but this, in turn, is likely to result in high industry rivalry.
U.S. building thermal insulation market by product,
2014-2025 (USD Million)
Browse full research report on Building
Thermal Insulation Market Analysis:
Further key findings from the report suggest:
- Asia Pacific
is expected to gain 1.0% market share by 2025 and is anticipated to grow
at highest estimated CAGR of 4.2% during the forecast period
- Asia Pacific
is characterized by high insulation demand in residential and commercial
buildings
- Europe
building thermal insulation is expected to grow at an estimated CAGR of
3.5% from 2016 to 2025
- EU
initiatives to promote thermal insulation as a means of energy
conservation strategy are expected to support the market growth in Europe
- Residential
construction emerged as the largest segment with 50% of the total market
demand in 2015
- Expanded
polystyrene (EPS) is projected to grow at the highest CAGR on account of
its exceptional thermal insulation property
- Expanded
polystyrene (EPS) accounted for 29.6% of market share by volume in 2015
- Influential
companies operating in this market include Dow Building
Solutions, Owens Corning Corp., Johns Manville Corporation, Huntsman
International LLC, CertainTeed Corporation, Kingspan Group PLC, BASF
Polyurethanes, Saint-Gobain S.A., etc.
For more information: http://www.grandviewresearch.com
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