Insulation is required for building purposes as they serve a variety of reasons. Market Research Future, a firm which specializes in market reports related to the Construction sector among others, recently published a report on this market. The global insulation market will expand at a rapid pace with an increase in revenue and an encouraging CAGR in the forecast period.
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As the demand for insulation products rises every day, the market for insulation products is expanding in proportion to meet this demand. With increase in construction activities around the world, the demand for insulation products has increased significantly. Rising costs of energy have also supplemented the growth of the sector tremendously. Factors such as increasing rate of urbanization and need for energy efficiency has further bolstered the growth of the market.
The global insulation market has been segmented based on material and application.
By material, the global insulation market has been segmented into fiberglass, plastic fibers, mineral wood, and natural fibers.
By application, the global insulation market has been segmented into residential and non-residential.
Top 10 Competitive Landscape
Nova Chemicals Corporation
Dow Building Solutions
Atlas Roofing Corporation
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February 2019- Chinese and American researchers have reportedly developed a new variety of aerogel which can be used for insulating applications. The material has robust mechanical and thermal stability as performs exceptionally well in transformation and toughness.
By region, the global insulation market has been segmented into North America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
APAC is the largest market for insulation. Prolific growth of the construction industry and high focus on energy conservation are driving the market in APAC. The governments in the region have laid down various regulations which encourage insulation in end use applications.
North America is a significant market driven by steady investments in the real estate market and consumer affinity for green buildings. Continuously expanding construction industry and developments in commercial and residential structures in the US fuels the growth of the market. Government focus on conservation of energy has resulted in the development of standards which advocate the use of insulating materials which induce high demand within the market.
Europe too is an important revenue pocket for the global insulation market. The resurgence of construction activities coupled with towering environmental concerns is favoring the use of structural adhesives. Moreover, growing interest in energy saving and increasing investment in commercial and infrastructure construction is also supporting market growth.
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