Vancouver, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global Insulation Materials Market is projected to be worth USD 107.40 Billion by 2032, according to a current analysis by Emergen Research. The insulation materials market observes high demand attributed to the increasing demand for reduced energy consumption in buildings. Insulation of roof, walls, attic, and foundations are a vital requirement for energy-efficient residential buildings. Also, glass being an inefficient insulator, the insulation of see-through windows, envelopes, and skylights substantially lessens loss or heat gain, causing a reduction in heat transfer and vapor condensation. Consequently, insulation materials lead to the prevention of humidity, freezing, mold, and deformation occurring in the construction works due to corrosion, thereby safeguarding the building.
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Insulation materials in automotive provide a robust heat loss barrier and maintain the optimal temperature to enhance engine performance and decrease carbon-dioxide emissions. The effective thermal insulation of automotive performs a crucial role in optimal thermal management, which is of immense significance in providing better battery backup and longer battery life. Further, it adds to the convenience of passengers.
Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 54.68 Billion |
| CAGR (2020 - 2032) | 5.3% |
| Revenue forecast in 2032 | USD 107.40 Billion |
| Base year for estimation | 2019 |
| Historical data | 2016 - 2018 |
| Forecast period | 2020 - 2032 |
| Quantitative units | Revenue in USD Millions, and CAGR from 2020 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product type, distribution channel, application, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Roxul Inc., Huntsman International LLC, Kingspan Group, Owens Corning, BASF, GAF Materials Corporation, Johns Manville, The Dow Chemical Company, Cellofoam North America Inc., and Covestro AG |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The leading players in the insulation materials market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the insulation materials market include:
- Roxul Inc.
- Huntsman International LLC
- Kingspan Group
- Owens Corning
- BASF
- GAF Materials Corporation
- Johns Manville
- The Dow Chemical Company
- Cellofoam North America Inc.
- Covestro AG
In December 2019, Huntsman Corporation announced the acquisition of Icynene-Lapolla, a firm involved in the production and distribution of spray polyurethane foam (SPF) insulation systems for residential usage and commercial sectors.
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Key Highlights from The Report
- Glass wool is beneficial in offering effective thermal insulation and reduced energy consumption and decreases temperature variations. Also, it helps in lessening the sound transmission between walls.
- Expanded Polystyrene (XPS) material finds widespread application in new and retrofit construction but owing to its production process, and it is available as rectangular/square boards of standard dimension.
- There is an increasing demand for green buildings attributed to stringent environmental regulation. Programs like LEED are significantly driving the market for green building, and, in turn, boosts the market demand.
- Industrial hemp is a kind of green insulation material which is gaining substantial momentum in the global market.
- The market demand in Europe is owing to the imposition of the mandatory government regulations for upholding energy renovations measures.
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Emergen Research has segmented the global insulation materials market on the basis of product type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Glass Wool
- Mineral Wool
- Expanded Polystyrene (EPS)
- Aerogel
- Extruded Polystyrene (XPS)
- CMS Fibers
- Calcium Silicate
- Polyurethane
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
- Online
- Offline
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Infrastructure
- Industrial
- HVAC
- Transportation
- Appliances
- Furniture/Bedding
- Packaging
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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