Insulation Market is estimated to fuel growth over the projected period

 Insulation Industry Overview

The global insulation market size was estimated at USD 57.95 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% over the forecast period. 

Increasing consumer awareness regarding energy conservation is estimated to have a positive impact on the market over the forecast period. The global insulation industry has experienced limited growth as a consequence of the economic recession caused by the COVID-19 crisis, which has resulted in low investor confidence and a decline in construction activities, as a result, the insulation materials market has also experienced a catastrophic setback. The COVID-19 pandemic in the U.S affected the growth of the engineering and construction industries.

The stay-at-home instructions and social distancing mandates have slowed both new and retrofit project sites in both the residential and commercial fields. In the U.S., the glass wool sector accounted for the largest share in 2021 and is estimated to grow at a steady CAGR over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Insulation Market

Glass wool is a thermal insulator consisting of flexible and knotted glass fibers, which traps air inside resulting in low density. The segment was followed by mineral wool and EPS respectively. Rapid industrialization and urbanization in the emerging markets of China, India, Philippines, Malaysia, Thailand, and Indonesia have driven the need for better infrastructure. Moreover, increasing regulatory support and rising demand for residential and industrial insulation are the factors estimated to fuel market growth over the projected period.

However, fluctuating raw material prices and strict environmental regulations are estimated to hamper the overall market growth in the years to come. The strong presence of manufacturing industries in China, India, Brazil, and Mexico is estimated to boost the demand for fiberglass insulation in industrial buildings. This trend is anticipated to further boost the market growth. The rising demand for sustainable residential buildings on account of the growing population and rapid urbanization is a recent end-use trend estimated to drive industrial growth. Furthermore, technological enhancements in thermal insulation like vacuum insulation panels and R&D activities to advance transparent thermal insulation are the factors estimated to create new opportunities for industrial development.

 

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• Aerogel Market - The global customer experience management market size was valued at USD 8.79 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.1% from 2022 to 2030.

 

• Calcium Carbonate Market - The global calcium carbonate market size was valued at USD 42.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030. Increasing demand for paper from packaging applications and hygiene-related products like tissue paper is a major growth driver for the market.

 

Insulation Market Segmentation

Grand View Research has segmented the global insulation market on the basis of product, end use, and region:

• Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
  • Glass Wool
  • Mineral Wool
  • EPS
  • XPS
  • CMS Fibers
  • Calcium Silicate
  • Aerogel
  • Cellulose
  • PIR
  • Phenolic Foam
  • Polyurethan

 

• Insulation End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
  • Construction
    • Residential
    • Non-residential & Commercial
  • Industrial
  • HVAC & OEM
  • Transportation
    • Automotive
    • Marine
    • Aerospace
  • Appliances
  • Furniture
  • Packaging

 

• Insulation Region Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Market Share Insights

• June 2021: Hempel acquired a unique technology developed by Das Lack Enetherm that will enable Hempel to develop and launch coatings with insulation properties within a year.
• April 2021: Carlisle Companies Inc. announced an investment of more than US$ 60 Mn for building of an innovative, technologically advanced polyiso insulation manufacturing facility in Sikeston, Missouri.

Key Companies profiled:

Some prominent players in the insulation market include

• GAF Materials Corp.
• Huntsman International LLC
• Johns Manville
• Cellofoam North America, Inc.
• Rockwool International A/S
• DuPont
• Owens Corning
• Atlas Roofing Corp.
• Saint-Gobain S.A.
• Kingspan Group
• BASF
• Knauf Insulation
• Armacell International Holding GmbH
• URSA
• Covestro AG
• Recticel NV/SA
• Carlisle Companies, Inc.
• Bridgestone Corp.
• Fletcher Building
• 3M

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