Name: Insulation Materials Market Size, Share, Trends and Growth Report – Global Opportunities &amp; Forecast, 2023-2030
SKU: UP3584-001001
Availability: InStock

Insulation Materials Market Size, Share, Trends and Growth Report – Global Opportunities & Forecast, 2023-2030

Report Description Table Of Content Sample Request Request For Customization

Insulation Materials Market is expected to witness a CAGR of approximately 5.3% during the forecast period, 2023-2030.

Insulation Materials Market

Major Insulation Materials Market Drivers

The global insulation materials market size is predicted to rise significantly due to significant growth in customer end-use industries, rapid rise in infrastructure, high growth in the need for power efficiency, coupled with an increase in construction activities. The growth of the insulation materials market is primarily driven by the growing disposable income globally. As disposable incomes increase, there is a corresponding rise in buying power, leading to a rise in demand for customer electronics and general appliances. The demand for electrical insulators in customer electronics and appliances, fostered by their essential requirement for insulating properties, plays a significant role in driving the growth market in the forecast period. The expansion of the construction and automotive industries around the globe serves as another driver for the insulation materials market. Construction materials commonly incorporate fiberglass as an insulator, while motor vehicle components use insulators including polyesters, silicone foams, and several others.

To have an edge over the competition by knowing the market dynamics and current trends of “Insulation Materials Market” request for Sample Report here

The substantial rise in industrialization and rapid urbanization in emerging markets such as India, the Philippines, and China along with Malaysia has increased the need for improved infrastructure. In addition, growing regulatory support and an increasing need for industrial and residential insulation are factors predicted to propel market needs in the forecast period. Despite the potential for market growth, fluctuating raw material prices and vigorous environmental regulations are predicted to pose challenges in the near future. However, the growing existence of manufacturing industries in India, China, Mexico, and Brazil is predicted to propel the need for insulation material in industrial buildings, supporting to the global insulation materials market share.

Moreover, the rise in energy cost is an important factor propelling investments in energy-efficient insulation solutions, indicating an international shift towards prioritizing energy efficiency. Identifying that developed insulation can significantly decrease energy consumption, leading to cost savings and a decreased dependence on energy imports, different key factors support this growing trend in the market. Furthermore, a trend in the insulation market is the recognition that energy-efficient measures, including enhanced insulation, directly contribute to positive economic sustainability. Nations and communities that prioritize power efficiency not only benefit from lower customer costs but also witness reduced dependence on energy imports. This dual benefit contributes to developed energy stability, and security. Reduced energy consumption not only aligns with wider sustainability objectives but also leads to lower greenhouse gas emissions, contributing to the mitigation of the environmental impact linked with energy utilization.

Additionally, the gains in energy efficiency become an important opportunity to mitigate climate change. Insulation materials play an important role in this effort. To develop global energy effectiveness by 40% by 2030, the United Nations has advocated for a rise in building insulation and air sealing. The insulation materials industry is influenced by new technologies such as sustainable construction practices and high-performance insulation materials. These developments will create numerous opportunities in order to save energy and to mitigate climate change are propelling the global insulation materials market. Moreover, international attempts to address climate shifts have led to an increased demand for sustainable products. The effective growth in awareness of global warming is also propelling the need for insulation materials that help in maintaining comfortable and energy-efficient environments in homes and businesses, specifically throughout warm weather conditions.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

While, the continuous fluctuation in the cost of plastic foams stands out as a significant obstacle to the global insulation materials market size. The products used as plastic foams, such as polyurethane and polystyrene foams are developed from crude oil. Hence, the constant fluctuations in costs and the availability of crude oil play an important role in the manufacturing of these plastic foams, contributing to the unpredictability in their pricing. The availability of goods derived from crude oil, such as elastomers and polymers, is wholly dependent on the manufacturing and import framework of different nations. Raw material costs are significantly influenced by production locations, trading prices, labor expenses, and traffic. The pandemic has significantly disrupted the supply chain, resulting in a decreased manufacturing rate. Consequently, there is a subsequent rise in freight costs, thereby increasing the overall cost of insulation materials. These challenges are restricting the growth of the insulation materials market share.

Not only has this, but the increased investment in renewable energy sources presents new opportunities for insulation companies specializing in non-toxic goods independent of fossil fuels or dangerous chemicals. This growth trend is predicted to persist as governments globally strive to make substantial moves away from unsustainable exercises that leads to climate change. The insulation materials market has observed a rise in construction activities in present years, boasted by the increasing demand for energy-efficient homes. This rise in construction has, in turn, increased the need for insulation materials such as rock wool, and fiberglass which further drives the global insulation materials market growth.

Mineral Wool Segment is Predicted to Register Largest Size in the Global Insulation Material Market

Mineral Wool Segment is estimated to hold a significant value of market share in the forecast period because of a substantial rise in the need for insulation equipment from the construction and building sector coupled with sound absorption and effective thermal insulation properties.

Insulation Materials Market

Building and Construction Segment is Projected to Hold Largest CAGR in the Global Insulation Material Market

The HVAC system has become indispensable in building infrastructure, fulfilling a necessary role in sustaining air quality. It releases air, decreases harmful practices or gases, and adjusts the temperature based on prevailing weather conditions. Cooling and heating constitute the most substantial energy consumption in any building. Opting for an energy-efficient HVAC system, which effectively manages the flow of heat, ventilation, and air, is important. This not only helps in decreasing energy bills but also contributes significantly to accomplishing energy savings. The rise in the construction of commercial offices, warehouses, special economic zones, institutional buildings, and warehouses globally is driving a rise in demand for insulation materials in the market.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Asia Pacific Region Registered the Largest Revenue Share in the Global Insulation Materials Market

The growth in the Asia Pacific region is attributed to an increase in the production of oil in emerging nations such as China and India. Around developed and developing nations of APAC, the need for insulation material increased due to a rise in awareness concerns to energy wastage, and growth in the need for insulation for renovation and refurbishing applications. In addition, due to considerable population growth, rapid urbanization, and industrialization, along with the existence of key market producers of insulation material in the Asia Pacific market is also anticipated to have a positive impact on revenue share in the forecast period. The demand for insulation materials in China and India is estimated to be fostered by the growth of the oil and gas industry, and construction activities.

Insulation Materials Market

Top Market Players

Various notable players operating in the market include BASF SE, Bayer AG, Saint-Gobain S.A, Rockwool International, Huntsman Corporation, Atlas Roofing Corporation, Bridgestone, Evonik Industries AG, The DoW Chemical Company, Kingspan Group PLC, and GAF Materials Corporation among others.

Key Developments

- In 2023, Kingspan successfully acquired a majority stake in Steico SE to provide a full spectrum of insulation goods and strengthen the product portfolio.
- In 2023, GAF announced the launch of Timberline Ultra HDZ shingles fulfilling the growing demand for roofing and being competitive across the market.
- In 2023, Saint-Gobain acquired U.P Twiga Fiberglass Ltd., to offer a wide variety of solutions to sustainable and light construction.
- In 2022, GAF announced the establishment of a new manufacturing plant across Valdosta to reinforce its commercial roofing functions and help potential customers get the GAF goods speedily.
- In 2022, Atlas Roofing Corporation, announced an investment of USD 200 to construct a new asphalt shingle manufacturing facility to enable its individuals to introduce products and solutions which meet the demand of their customers.
- In 2022, BASF launched Neopor Mcycled by closing the EPS recycling loop to meet the exacting good requirements in the different construction applications.
- In 2021, Owens Corning acquired vliepa GmbH to serve better clients in Europe and raise the growth of construction and building market applications around the region.

Segments covered in the Report:

The Global Diabetes Care Devices market has been segmented on the basis of Type and Application. Based on the Type, the market is segmented into Mineral Wool, Fiberglass, Stone wool, Polyurethane Foam (PUF), Flexible Elastomeric Foam (FEF), Others. Based on the Application, the market is segmented into Building & Construction, Industrial, Transportation, Others.

For detailed scope of the “Insulation Materials Market” report request a Sample Copy of the report

Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	BASF SE, Bayer AG, Saint-Gobain S.A, Rockwool International, Huntsman Corporation, Atlas Roofing Corporation, Bridgestone, Evonik Industries AG, GAF Materials Corporation, Kingspan Group PLC, and The DoW Chemical Company., among others; a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation