January 19, 2017 - 2:23 PM EST
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Growing Demand for Energy Efficient Buildings Driving the Global Insulation Market: Technavio

The global insulation market is expected to grow at a CAGR of over 8% during the forecast period, according to Technavio’s latest report.

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Technavio has published a new report on the global insulation market from 2017-2021. (Photo: Busines ...

Technavio has published a new report on the global insulation market from 2017-2021. (Photo: Business Wire)

In this report, Technavio covers the market outlook and growth prospects of the global insulation market for 2017-2021. By product type, this market is segmented into wood insulation and plastic foam insulation.

The growing need for energy efficient buildings is one of the most important drivers of the global insulation market. Commercial and residential buildings employ several temperature regulation systems, and it is important to ensure that there is no energy leakage to make efficient use of these systems.

Technavio’s research study segments the global insulation market into the following regions:

  • APAC
  • EMEA
  • Americas

APAC: largest insulation market segment

High rates of urbanization and industrialization is creating an increasing requirement for energy. To ensure optimal utilization of the available energy, residential and commercial end-users in the region are making use of insulation systems. The energy efficiency provided by insulation systems will drive the market growth in APAC,” says Bharath Kanniappan, one of the lead analysts at Technavio for automation research.

By product type, expanded polystyrene accounts for the highest share amongst insulation materials used in the region. Additionally, the growing awareness about fire insulation in APAC is expected to provide an additional push to the growth momentum in countries like China, Japan, and South Korea.

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EMEA: energy efficiency norms driving growth of insulation market in the region

Glass wool and fiberglass insulation materials are the most popular insulation materials in EMEA. Western Europe comprises the biggest market for insulation with countries such as the UK, Germany, France, Spain, and Italy, responsible for generating the highest revenue.

The energy efficiency norms in EU, and the Passivhaus standard are the major factors that are influencing the market. In Europe, the construction industry is driving the need for insulation in buildings. Additionally, vendors are just tapping the potential of the insulation market in the Middle East, which is expected to showcase fast growth.

Americas: LEED-certifications pushing for adoption of insulation products in the region

Retrofitting activities in both residential and non-residential sectors will be the major revenue contributor in North America. Continual focus on optimizing energy consumption and lowering operations and maintenance costs is expected to provide momentum to the insulation market in the US and Canada,” says Bharath.

Fiberglass insulation is the most popular insulation product in the US. Among the South American countries, Brazil will emerge as the highest contributor for insulation vendors, owing to the growing awareness about energy conservation and the trend of obtaining LEED-certification for buildings. The climatic conditions in South American countries are typically wet and humid, which demonstrates a latent potential that the vendors are beginning to capitalize.

The top vendors in the global insulation market highlighted in the report are:

  • BASF
  • Huntsman International
  • Knauf Insulation
  • Owens Corning
  • Recticel Insulation

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770

Source: Business Wire (January 19, 2017 - 2:23 PM EST)

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