Sarasota, FL, Aug. 04, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Building Insulation Market by Material (Wool Insulation, Plastic Foams, and Others) for Wall Insulation, Roof Insulation, and Floor Insulation: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”. According to the report, global building insulation market was valued at around USD 22.63 billion in 2016 and is expected to reach approximately USD 27.74 billion in 2022, growing at a CAGR of slightly above 3.45% between 2017 and 2022.
The insulation in buildings contributes to reducing the required air-conditioning system size and also in reducing the annual energy cost. It helps in extending the periods of thermal comfort without reliance on mechanical air-conditioning especially during inter-seasons periods. The magnitude of energy savings as a result of using thermal insulation vary according to the building type, the climatic conditions at which the building is located and the type of the insulating material used. Insulation reduces the exchange of heat through the many surfaces in building walls, ducts, roof, etc.
Browse through 13 Market Tables and 19 Figures spread through 110 Pages and in-depth TOC on "Global Building Insulation Market: By Material, Size, Share, Trends and Forecast 2016 – 2022”.
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The global insulation market is driven by several factors such as energy conservation and reduction of carbon foot prints. Growing public awareness about the need to save energy is another driving factor for building insulation market. Non-residential insulation is another important application of insulation materials. Green buildings with very low energy consumptions are provided with tax benefits by several governments across the globe which promote the growth of building insulation market.
However, Plastic foam insulation materials are susceptible to the volatility in crude oil prices in the international market as polystyrene is a downstream derivative of crude oil. This reduces the competitiveness of plastic foams with respect to fiber glass insulation materials. Nonetheless, development in the construction industry in economically developing countries will propel the demand for building insulation market during the forecast period. The global market for building insulation is segmented on the basis of material, application, and region. the material is segmented into wool insulation, plastic foams, and others. Wool insulation segment dominated the market in the year 2016 and is anticipated to continue leading the market for next few coming years. Due to the hygroscopic nature of wool, the insulation is able to absorb, store and release moisture, naturally controlling condensation levels within the building and improving internal air quality. Applications of the building insulation are wall insulation, roof insulation, and floor insulation. Among this application, roof insulation market generated the largest revenue for building insulation market owing to increase commercial and residential building insulation across the globe.
Browse the full " Building Insulation Market by Material (Wool Insulation, Plastic Foams, and Others) for Wall Insulation, Roof Insulation, and Floor Insulation: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022." report at https://www.zionmarketresearch.com/report/building-insulation-market
By region, the building insulation market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East& Africa. North America is the largest market for motion sensor and estimated to retain its dominance over the estimated period. Increasing investment in the construction industry and stringent energy efficiency regulations are propelling the demand of this market in North America. The U.S. government promoted home insulation by offering tax rebates on new home insulation or re-insulation if the insulation standards were met by the individual home owners.In Europe, renovation and refurbishment of existing structures play an important role in the development of the market for insulation.
Some countries such as Germany, Spain, Denmark, Russia, Poland, Netherland, UK offer considerable potential in the segment renovation and refurbishment, as a large part of existing buildings have been equipped with only limited insulation. Poland, Russia, and Turkey have been forefront for implementing insulating material. Development of demand for insulation material following from increased renovation and refurbishment activity, however, also depends on the willingness of and financial means available to respective governments to attain energy efficiency objectives.The Asia Pacific market for the building insulation is forecast to the highest growth rate of adaptation compared to other regions due to the rapid growth of construction industry in economically emerging countries such as China and India.Building insulation market for Japan is matured. In addition, cheap labor cost, low cost of setting up manufacturing units, and low cost of insulation materials drives this market in Asia Pacific region. Moreover, residential and non-residential construction manufacturers have adopted the usage of insulation materials due to rise in demand as a result of climate change, need for lower energy consumption, and more sound-proof buildings. Growth in disposable incomes and living standards of middle-class families is boosting the demand of insulation market.
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Latin America and Middle East & Africa have expected considerable growth over the forecast period as this market is in a nascent stage in this region. New building construction in Middle East & Africa along with expected growing trend of the construction industry is anticipated to generate demand for acoustic insulation material market in the region.UAE construction industry will take hard hit which is expected to surge the demand of building insulation market. In Latin America, the green building movement gained a lot of momentum for building insulation system.
The major players operating in building insulation market are BASF SE, Rockwool International A/S, Johns Manville Inc., Knauf Insulation, Beijing New Building Material, Paroc, Saint-Gobain, GAF, Kingspan Group Plc, and Owens Corning Corporation, among others.
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The report segments global building insulation market as follows:
Global Building Insulation Market: Material Segment Analysis
- Wool insulation
- Plastic foams
- Others
Global Building Insulation Market: Application Segment Analysis
- Wall insulation
- Roof insulation
- Floor insulation
Global Building Insulation Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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