Insulation Products Market worth $84.2 billion by 2029 Globally, at a CAGR of 5.0 %, says MarketsandMarkets™

Chicago, May 31, 2024 (GLOBE NEWSWIRE) -- The Global Insulation Products Market is projected to grow from USD 65.9 billion in 2024 to USD 84.2 billion by 2029, at a CAGR of 5.0% from 2024 to 2029. as per the recent study by MarketsandMarkets™. The retrofitting of existing buildings with insulation to meet updated energy codes or improve energy performance is a significant reason for such market growth. Overall, the insulation product market is poised for sustained growth as it aligns with the broader trends of energy efficiency, sustainability, and technological innovation in the construction industry.

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Browse In-Depth TOC On "Insulation Products Market”

233 - Market Data Tables
55 - Figures
277 - Pages

List of Key Players in Insulation Products Market:

1. Covestro AG (Germany)
2. Owens Corning Corp. (US)
3. Rockwool International A/S (Denmark)
4. Saint-Gobain ISOVER (France)
5. Knauf Insulation (US)
6. Huntsman Corporation (US)
7. Armacell International S.A. (Luxembourg)
8. Johns Manville Corporation (US)
9. Kingspan Group (Ireland)
10. Soprema Group (France)
11. Cellofoam International GmbH (Germany)
12. Recticel NV/SA (Belgium)
13. China Jushi Co. Ltd. (China)
14. Rogers Corporation (US)

Drivers, Restraints, Opportunities and Challenges in Insulation Products Market:

1. Drivers: Growing steel and aluminum industries in developing nations.
2. Restraints: Toxic chemicals used as raw materials lead to health risk and ineffective insulation.
3. Opportunity: Various government schemes to boost manufacturing sector in Asia Pacific.
4. Challenges: High training cost associated with application engineers and contractors.

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Key Findings of the Study:

1. Thermal Insulation is estimated to hold the most significant share of the global insulation products market by type of insulation.
2. By material type, the mineral wool segment will lead the insulation products market during the forecast period.
3. During the forecast period, Asia Pacific will lead the global insulation products market.

By type of insulation, thermal insulation is estimated to dominate the insulation products market globally. Escalating utility costs, particularly for heating and cooling, are driving the adoption of thermal insulation in both residential and commercial buildings. By improving the thermal efficiency of structures, insulation products help lower energy bills and operating expenses over the long term. As consumers seek ways to mitigate rising energy costs, the demand for thermal insulation solutions that offer tangible economic benefits is on the rise.

In terms of end-use industry, the building & construction segment is anticipated to hold the leading position in the insulation products industry. Insulation products are increasingly integrated with other building systems to enhance overall performance and efficiency. For example, insulation materials with vapor barriers are essential for moisture control in building envelopes, ensuring durability, and preventing issues such as mold growth. This factor is creating demand in this industry.

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By material type, the insulation products market is segmented into mineral wool, polyurethane foam, flexible elastomeric foam, and others. Other insulation materials include aerogel, perlite, XPS, EPS, calcium silicate, ceramic fiber, melamine foam. The market for other material offers superior thermal efficiency and space-saving properties compared to traditional insulation materials like fiberglass and foam board. These technological advancements drive market growth by meeting the evolving needs of industries and consumers for more efficient and versatile insulation solutions.

The insulation products market in the Asia Pacific region is projected to hold the most significant market share. The Asia-Pacific region, particularly countries like China, India, Japan, and South Korea, hosts a rapidly growing industry. This growth is fueled by factors such as urbanization, industrialization, and increasing disposable incomes. Insulation products find extensive applications in various segments of the end use industry, including building & construction, industrial, and transportation.

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