July 20, 2024

Insulation – The Demand and the Way Forward

Rapid industrialization has created a great demand for the use of insulation in urban areas which is extremely helpful in the conservation of energy.

The value of the global insulation market is expected to exceed USD 105.4 billion by 2030 at a compound annual growth rate of over 6.52 percent, from an estimated USD 63.59 billion in 2022, according to Canada-based Precedence Research.

Insulation Market Size 2022 to 2030The 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.

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

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Insulation Market 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

Insulation Market Scope

Report CoverageDetails
Market Size in 2022USD 63.59 Billion
Market Size by 2030USD 105.4 Billion
Growth Rate from 2022 to 2030CAGR of 6.52%
Base Year2021
Forecast Period2022 to 2030
Segments CoveredProduct, Function, Form, End User, Geography

Insulation Market 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

Insulation Market Dynamics

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.

Also Read: Pulp and Paper – Potential Solutions for 2022-30

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.

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.

Key market players

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

Segments covered in the report

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

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Insulation Market 

5.1. COVID-19 Landscape: Insulation Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Insulation Market, By Product

8.1. Insulation Market, by Product, 2022-2030

8.1.1. Expanded polystyrene

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Glass wool

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Mineral wool

8.1.3.1. Market Revenue and Forecast (2017-2030)

8.1.4. Cellulose

8.1.4.1. Market Revenue and Forecast (2017-2030)

8.1.5. Calcium silicate

8.1.5.1. Market Revenue and Forecast (2017-2030)

8.1.6. Others

8.1.6.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Insulation Market, By Product

9.1. Insulation Market, by Product e, 2022-2030

9.1.1. Thermal

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Acoustic

9.1.2.1. Market Revenue and Forecast (2017-2030)

9.1.3. Electric

9.1.3.1. Market Revenue and Forecast (2017-2030)

9.1.4. Others

9.1.4.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Insulation Market, By End User 

10.1. Insulation Market, by End User, 2022-2030

10.1.1. Blanket

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Foam

10.1.2.1. Market Revenue and Forecast (2017-2030)

10.1.3. Board

10.1.3.1. Market Revenue and Forecast (2017-2030)

10.1.4. Pipe

10.1.4.1. Market Revenue and Forecast (2017-2030)

10.1.5. Others

10.1.5.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Insulation Market, By April 

11.1. Insulation Market, by April, 2022-2030

11.1.1. Industrial use

11.1.1.1. Market Revenue and Forecast (2017-2030)

11.1.2. Construction

11.1.2.1. Market Revenue and Forecast (2017-2030)

11.1.3. Original equipment manufacturer

11.1.3.1. Market Revenue and Forecast (2017-2030)

11.1.4. Transportation

11.1.4.1. Market Revenue and Forecast (2017-2030)

11.1.5. Appliances

11.1.5.1. Market Revenue and Forecast (2017-2030)

11.1.6. Packaging

11.1.6.1. Market Revenue and Forecast (2017-2030)

11.1.7. Furniture

11.1.7.1. Market Revenue and Forecast (2017-2030)

11.1.8. Others

11.1.8.1. Market Revenue and Forecast (2017-2030)

Chapter 12. Global Insulation Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Product (2017-2030)

12.1.2. Market Revenue and Forecast, by Product (2017-2030)

12.1.3. Market Revenue and Forecast, by End User (2017-2030)

12.1.4. Market Revenue and Forecast, by April (2017-2030)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.1.5.2. Market Revenue and Forecast, by Product (2017-2030)

12.1.5.3. Market Revenue and Forecast, by End User (2017-2030)

12.1.5.4. Market Revenue and Forecast, by April (2017-2030)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.1.6.2. Market Revenue and Forecast, by Product (2017-2030)

12.1.6.3. Market Revenue and Forecast, by End User (2017-2030)

12.1.6.4. Market Revenue and Forecast, by April (2017-2030)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.2. Market Revenue and Forecast, by Product (2017-2030)

12.2.3. Market Revenue and Forecast, by End User (2017-2030)

12.2.4. Market Revenue and Forecast, by April (2017-2030)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.5.2. Market Revenue and Forecast, by Product (2017-2030)

12.2.5.3. Market Revenue and Forecast, by End User (2017-2030)

12.2.5.4. Market Revenue and Forecast, by April (2017-2030)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.6.2. Market Revenue and Forecast, by Product (2017-2030)

12.2.6.3. Market Revenue and Forecast, by End User (2017-2030)

12.2.6.4. Market Revenue and Forecast, by April (2017-2030)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.7.2. Market Revenue and Forecast, by Product (2017-2030)

12.2.7.3. Market Revenue and Forecast, by End User (2017-2030)

12.2.7.4. Market Revenue and Forecast, by April (2017-2030)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Product (2017-2030)

12.2.8.2. Market Revenue and Forecast, by Product (2017-2030)

12.2.8.3. Market Revenue and Forecast, by End User (2017-2030)

12.2.8.4. Market Revenue and Forecast, by April (2017-2030)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.2. Market Revenue and Forecast, by Product (2017-2030)

12.3.3. Market Revenue and Forecast, by End User (2017-2030)

12.3.4. Market Revenue and Forecast, by April (2017-2030)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.5.2. Market Revenue and Forecast, by Product (2017-2030)

12.3.5.3. Market Revenue and Forecast, by End User (2017-2030)

12.3.5.4. Market Revenue and Forecast, by April (2017-2030)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.6.2. Market Revenue and Forecast, by Product (2017-2030)

12.3.6.3. Market Revenue and Forecast, by End User (2017-2030)

12.3.6.4. Market Revenue and Forecast, by April (2017-2030)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.7.2. Market Revenue and Forecast, by Product (2017-2030)

12.3.7.3. Market Revenue and Forecast, by End User (2017-2030)

12.3.7.4. Market Revenue and Forecast, by April (2017-2030)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Product (2017-2030)

12.3.8.2. Market Revenue and Forecast, by Product (2017-2030)

12.3.8.3. Market Revenue and Forecast, by End User (2017-2030)

12.3.8.4. Market Revenue and Forecast, by April (2017-2030)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.2. Market Revenue and Forecast, by Product (2017-2030)

12.4.3. Market Revenue and Forecast, by End User (2017-2030)

12.4.4. Market Revenue and Forecast, by April (2017-2030)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.5.2. Market Revenue and Forecast, by Product (2017-2030)

12.4.5.3. Market Revenue and Forecast, by End User (2017-2030)

12.4.5.4. Market Revenue and Forecast, by April (2017-2030)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.6.2. Market Revenue and Forecast, by Product (2017-2030)

12.4.6.3. Market Revenue and Forecast, by End User (2017-2030)

12.4.6.4. Market Revenue and Forecast, by April (2017-2030)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.7.2. Market Revenue and Forecast, by Product (2017-2030)

12.4.7.3. Market Revenue and Forecast, by End User (2017-2030)

12.4.7.4. Market Revenue and Forecast, by April (2017-2030)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Product (2017-2030)

12.4.8.2. Market Revenue and Forecast, by Product (2017-2030)

12.4.8.3. Market Revenue and Forecast, by End User (2017-2030)

12.4.8.4. Market Revenue and Forecast, by April (2017-2030)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.5.2. Market Revenue and Forecast, by Product (2017-2030)

12.5.3. Market Revenue and Forecast, by End User (2017-2030)

12.5.4. Market Revenue and Forecast, by April (2017-2030)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Product (2017-2030)

12.5.5.2. Market Revenue and Forecast, by Product (2017-2030)

12.5.5.3. Market Revenue and Forecast, by End User (2017-2030)

12.5.5.4. Market Revenue and Forecast, by April (2017-2030)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Product (2017-2030)

12.5.6.2. Market Revenue and Forecast, by Product (2017-2030)

12.5.6.3. Market Revenue and Forecast, by End User (2017-2030)

12.5.6.4. Market Revenue and Forecast, by April (2017-2030)

Chapter 13. Company Profiles

13.1. GAF

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. Saint Gobain

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Recticel

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. Kingspan Group

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. URSA

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. Rockwool Group

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Knauf Insulation

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Johns Manville

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. 3M Company

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. Recent Initiatives

13.10. Owens Corning

13.10.1. Company Overview

13.10.2. Product Offerings

13.10.3. Financial Performance

13.10.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research

14.2. Secondary Research

14.3. Assumptions

Chapter 15. Appendix

15.1. About Us

15.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global insulation market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for insulation are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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