Global Insulation Market 2017-2021
Building insulation regulates the heat generated inside a building. Insulation materials help in controlling the heat that is dissipated through conduction, convection, and radiation. Besides thermal properties, insulation materials also ensure protection against sound, fire, and impact. Oversupply of oil and gas coupled with low demand has resulted in low prices worldwide, leading to a reduction in energy costs. This scenario is expected to have a cascading effect on the insulation market as the need for energy efficiency is one of the primary reasons for adopting insulation.
Technavio’s analysts forecast the global insulation market to grow at a CAGR of 8.16% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global insulation market for 2017-2021. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the prominent vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Insulation Market 2017-2021
Technavio recognizes the following companies as the key players in the global insulation market: BASF, Huntsman, Knauf Insulation, and Recticel Insulation.
Other Prominent Vendors in the market are: BASF, Beijing HuaDu Chemical Building Material Group, Byucksan, Dow Kakoh, Ecofoam Polyurethane Insulation, Hebei Huamei Group, Huntsman, Kaneka, KCC, Knauf Insulation, Kumho Petrochemical, LangFang Huayu Innovation & Technology, Lloyd Insulations (India), Luyang Energy Saving Materials, Mag-Isover, Nichias, Owens Corning, Polyglass Industries Indonesia, Bondor Indonesia, Rockwool Building Materials (Philippines), Rockwool Malaysia, Sae Rom Panel, Shengquan Group, Shinwoo Industrial, Superlon Worldwide, Supreme Petrochem, SY Panel, Tianjin Tianlong Shuangsheng Insulation, UP Twiga Fiberglass, etc.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is green insulation. Advances in technology have led to the development of eco-friendly insulation materials in the market. As some insulating materials have adverse health implications, governments around the world are trying to promote the use of eco-friendly and recyclable insulation in buildings. The use of recyclable materials is not only environment-friendly but also helps in reducing the cost of production for insulation vendors. The increase in the prices of raw materials has forced vendors to look for ways to reduce their operational costs and minimize dependence on suppliers.”
According to the report, one driver in market is revenue generation through retrofitting activities. Retrofitting is one of the major sources of revenue generation for vendors in the market. In the post-recession period, due to the volatility in the prices of materials, residential and non-residential users have demonstrated an inclination toward retrofitting activities over new investments. The developed markets in North America and Europe, which are more mature in terms of building insulation materials, will generate the highest replacement and restoration demand for existing building installations. Fiberglass and mineral wool will emerge as the preferred materials, which will ensure better insulation of end-user buildings. During the forecast period, we will also find several old buildings switching to better fitting and more effective insulation materials due to the need for energy efficiency and thermal comfort within buildings.
Further, the report states that one challenge in market is lack of skilled workforce. The availability of skilled workforce is a major issue that hinders the growth of the global insulation market. Professional workers who possess knowledge of insulation materials and methods of installation are in high demand. However, vendors in the insulation market are facing a dearth of such technically skilled employees. The process for the installation of insulation in buildings is a technical process, which requires the selection of material based on factors such the building area's dimensions, the nature of the building, the external environment, and the type of material to be used. Since temperature is a very crucial factor, it is very important to select the right material based on the thermal retention property of the material. Only a few professionals with the ability to understand and carry out this complex installation process exist in the market. Attracting and retaining such talented professionals is also a challenge for the vendors. During the forecast period, we expect the number of such technically proficient personnel to increase, which will eradicate the obstacles to the growth of the global insulation market.
BASF, Huntsman, Knauf Insulation, Recticel Insulation, BASF, Beijing HuaDu Chemical Building Material Group, Byucksan, Dow Kakoh, Ecofoam Polyurethane Insulation, Hebei Huamei Group, Huntsman, Kaneka, KCC, Knauf Insulation, Kumho Petrochemical, LangFang Huayu Innovation & Technology, Lloyd Insulations (India), Luyang Energy Saving Materials, Mag-Isover, Nichias, Owens Corning, Polyglass Industries Indonesia, Bondor Indonesia, Rockwool Building Materials (Philippines), Rockwool Malaysia, Sae Rom Panel, Shengquan Group, Shinwoo Industrial, Superlon Worldwide, Supreme Petrochem, SY Panel, Tianjin Tianlong Shuangsheng Insulation, UP Twiga Fiberglass, etc.
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