U.S. markets closed
  • S&P Futures

    4,308.00
    +0.25 (+0.01%)
     
  • Dow Futures

    34,122.00
    +4.00 (+0.01%)
     
  • Nasdaq Futures

    13,654.75
    -3.50 (-0.03%)
     
  • Russell 2000 Futures

    2,024.40
    +1.10 (+0.05%)
     
  • Crude Oil

    86.83
    +0.30 (+0.35%)
     
  • Gold

    1,788.80
    -0.90 (-0.05%)
     
  • Silver

    20.07
    -0.02 (-0.10%)
     
  • EUR/USD

    1.0173
    +0.0002 (+0.02%)
     
  • 10-Yr Bond

    2.8240
    +0.0330 (+1.18%)
     
  • Vix

    19.69
    -0.26 (-1.30%)
     
  • GBP/USD

    1.2107
    +0.0013 (+0.11%)
     
  • USD/JPY

    134.0870
    -0.1280 (-0.10%)
     
  • BTC-USD

    24,001.57
    -120.60 (-0.50%)
     
  • CMC Crypto 200

    571.33
    -0.59 (-0.10%)
     
  • FTSE 100

    7,536.06
    +26.91 (+0.36%)
     
  • Nikkei 225

    29,121.75
    +252.84 (+0.88%)
     

Insulation Market Size to Worth Around USD 105.4 Billion by 2030

·7 min read
Precedence Research
Precedence Research

According to Precedence Research, the global insulation market size is expected to be worth around USD 105.4 billion by 2030 and is expected to grow at a registered CAGR of 6.52% over the forecast period 2022 to 2030.

Tokyo, July 21, 2022 (GLOBE NEWSWIRE) -- The global insulation market size was valued at USD 63.59 billion in 2022. The Asia Pacific region has had the largest market share which was about 43% in the recent years. Due to an increase in the number of oil production industries in China the market for insulation is expected to go up in this region. There shall be a growing demand for insulation materials for reducing the wastage of energy.

The North American region is also expected to have a great demand for insulation materials. The presence of various industries like the oil and gas industry mining industries, power industries and metal industries in the North American region the insulation market is expected to grow well in this region. These bigger manufacturers are focusing on preventing the loss of energy. In order to improve the performance of their equipments they are increasing the focus on maintaining their equipment.

Get the Free Sample Copy of Report@ https://www.precedenceresearch.com/sample/1889

Europe will also have a good amount of revenue share in the forecast period. rapid industrialization in the European region has led to the growth of the insulation market. The presence of the major market players in the European region will drive the market growth during the forecast period. Next slide market dynamics

Key Takeaways:

  • By end user, the U.S. insulation market was reached at USD 13.2 bn in 2021

  • In 2021, expanded polystyrene product segment has contributed highest market share of 29%

  • In 2021, the construction segment registered highest revenue share of 36% in 2021

  • Asia Pacific region has garnered 43% of revenue share in 2021

Recent Developments

  • A technology which shall be helpful in it developing the coatings that shall have the properties of insulation was introduced by Das Lack Enetherm which was acquired by Hempel in the year 2021

Report highlights

  • On the type, the expanded polystyrene insulation product segment will dominate the market. The use of this product provides strength and its demand is expected to grow during the forecast period as it happens to be light in weight. The glass wool products segment is also expected to have a good amount of demand as it provides insulation against noise. it is also beneficial in thermal insulation.

  • The construction segment will have the largest demand for insulation. Increase in the urbanization and industrialization has increased the demand for insulation in the buildings. Apart from the use of insulation in the construction industry it has also seen a great demand in the transport segment.

  • Carbs insulators play a very important role in cold storage warehouses and cold storage transport. There is been no growth in the demand for cold storage transport and warehouse is due to a change in the consumption pattern of the population across the globe.

  • Many appliances that I use in the household need thermal and sound insulators. Microwaves, washing machines, refrigerators and the dishwashers are some of the appliances that make use of insulation. Increased purchasing power in the hands of the consumers will create greater demand for appliances which will drive the market growth for the insulation.

Ask here for more customization study@ https://www.precedenceresearch.com/customization/1889

Scope of the Report

Report Attributes

Details

Market Size in 2022

USD 63.59 Billion

Revenue Forecast by 2030

USD 105.4 Billion

CAGR

6.52% from 2022 to 2030

Largest Market

Asia Pacific

Base Year

2021

Forecast Year

2022 to 2030

Key Players

GAF, Saint Gobain, Recticel, Kingspan Group, URSA, Rockwool Group, Knauf Insulation, Johns Manville, 3M Company, Owens Corning

Drivers

As the building and the construction industry has expanded in the developing as well as the developed Asia and there has been no growth in the demand for different insulation products. Insulation is used in the building and construction industry to maintain the temperature of the indoors. Insulation helps introducing the transfer of heat between any two adjacent environments. Increased use of insulation is also attributed to the benefit of limiting the carbon footprint. Increased use of insulation in the construction industry is to prevent the excessive use of energy to have a controlled atmosphere inside the building.

Insulation helps in providing comfort by preventing the transfer of sound. It provides great resistance to transfer of fire as well as sound. Rapid industrialization has created a great demand for the use of insulation in urban areas which is extremely helpful in the conservation of energy. All these factors are expected to drive the market growth during the forecast period. Insulation market is also expected to grow due to its debut in the vehicle manufacturing industries. In order to reduce the sound which goes through the vehicles there is a growth in the demand for insulation. It also helps in providing better performance of the engines. It helps in solving the issue of excessive heating.

Restraints

Expanded polystyrene and the external polystyrene are used as insulation materials. The production of these materials leads to the emission of a carcinogenic product. This happens to be your major restraint in the growth of the market. Another challenge which hampers the growth of the market is the use of glass wool which is helpful in preventing any thermal exchange. Prolonged use of Glass wool may lead to different respiratory diseases. Its use also causes the ailments of the eyes. Due to all of these health issues that are associated with the use of different insulation materials will hamper the growth of the market during the forecast period.

Opportunities

The insulation market is expected to grow well during the forecast period due to the various opportunities provided by this market. it happens to be a sustainable option as it is extremely efficient in saving about 45 to 55% of the energy which is used in the cooling or heating of the houses. Due to a reduced use of energy, there shall be a reduction in the emissions of the greenhouse gases which is extremely beneficial for the environment. It helps in preventing the condensation on the ceilings as well as the walls of the houses. When a house is thermally insulated it also provides acoustic insulation as some of the materials used in insulation provide both the benefits.

Related Reports

Get Our Latest Press Releases@ https://www.precedenceresearch.com/press-releases

Challenges

Major challenges in the growth of the market are the unavailability of waterproof insulators. The presence of moisture in the walls and the ceilings were also affect the insulation to a great extent. But the insulation material is damp or it gets wet it may rot and catch molds. Prolonged use of insulation may also lead to different types of skin allergies. Apart from all of these reasons that hamper the growth of our market the expensive cost associated with the installation of insulation is yet another reason which happens to be yet another challenge in the growth of the market.

Market Segmentation

By Product

  • Expanded polystyrene

  • Glass wool

  • Mineral wool

  • Cellulose

  • Calcium silicate

  • Others

By Function

  • Thermal

  • Acoustic

  • Electric

  • Others

By Form

  • Blanket

  • Foam

  • Board

  • Pipe

  • Others

By End User

  • Industrial use

  • Construction

    • Residential

    • Non-residential & Commercial

  • Original equipment manufacturer

  • Transportation

    • Automotive

    • Marine

    • Aerospace

  • Appliances

  • Packaging

  • Furniture

  • Others

Immediate Delivery Available | Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1889

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com  | +1 9197 992 333

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

For Latest Update Follow Us:

https://www.linkedin.com/company/precedence-research/

https://www.facebook.com/precedenceresearch/

https://twitter.com/Precedence_R