Continuing Market Research Corporation recently released a report titled 'Global Market Research on Insulation Materials: Energy Efficiency Trends Shaping the Market for 2016-2020'.
The Sustaining Market Research Corporation (PMR) said the global insulation market is set to grow steadily over the four-year period from 2016 to 2020. During the forecast period, the market will maintain steady growth with a CAGR of 4.1%. The body will continue to lead the global market witnessing strong growth over the next four years.
An increase in urbanization, an increase in manufacturing and construction production is expected to be a macroeconomic factor that affects the growth in demand for insulation materials, and the insulation materials are key requirements in order to maintain the performance of any industrial system and will continue to support Demand for Thermal Insulation Materials The growing vertical use of thermal insulation materials such as oil and gas, energy, chemicals, food and beverages is expected to escalate demand, and higher levels of automobile and aircraft manufacturing will also accelerate market growth.
People are more and more aware of the importance of saving energy and their expectation of the lowest energy consumption is also expected to accelerate the development of the market.Efficient building codes in developed countries and new regulations on efficient building construction in developing countries will further Stimulating markets: More and more government agencies in emerging economies are setting building energy efficiency standards to meet energy efficiency standards, which remain the key drivers of the market for the forecast period.
Advances in insulation technology, such as high-temperature insulation cotton and bio-based insulation materials, may create lucrative growth opportunities. In addition, a greater focus on green energy will be conducive to the sale of insulation materials. The good use of vacuum insulation panels and nano-thermal insulation materials Positive impact on market development Recognition of the use of insulation materials and their costly costs is likely to remain a long-term challenge to market development.
Depending on the type of material, glass wool, rockwool, foam, etc. constitute the main segment of the market segment, with the highest growth over the temperature range of 1 ° C to 100 ° C. This section is expected to be completed in 2016-2020 Year at a compound annual growth rate of 4.6% while the temperature range of -160 ° C to -50 ° C will reach a significant CAGR, which is attributed to the strong demand of the petrochemical industry for cryogenic preservation of natural gas. The portion of the -49 ° C to 0 ° C temperature range will account for more than 25% of market value by 2020.
Through regional analysis, developing countries in the Asia-Pacific region have been identified as the largest market for thermal insulation materials and the region will continue to be the largest shareholder with more than 45% share of revenue.While Western Europe is another key market, it is estimated that by 2020 By the end of the year, North America will also become a major market.
Some of the leading companies in the global insulation market include The Dow Chemical Company, Saint-Gobain, Asahi Kasei Corporation, BASF, Bayer, Kingspan, Lukwa Wei International, Owens Corning and Berkshire Hathaway .