NEW YORK, Aug. 17, 2016 /PRNewswire/ -- "Growing demand in the construction industry to drive the market for insulation products"
The global market for insulation products is projected to grow from USD 43.85 billion in 2016 to reach USD 62.84 billion by 2021, at an estimated CAGR of 7.46%. The market for insulation products is driven by the growing demand in industries such as construction of both, residential and commercial buildings, automotive, OEMs, aerospace & defense, and maritime in both, developed and developing countries. Insulation products are highly preferred to retain the comfort quality of the living space and to minimize the heat flow.
"Thermal insulation segment is projected to grow at a steady CAGR during the forecast period"
The thermal insulation segment is projected to be the fastest-growing insulation type in the insulation products market in the next five years. Thermal insulation is highly preferred in the construction of residential and commercial buildings, and in OEM manufacturing industrial sites such as automotive, HVAC, aerospace, and mining to minimize the heat flow.
"Asia-Pacific to be the fastest-growing market during the forecast period"
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by Europe, from 2016 to 2021. China accounted for the largest consumption of insulation products, followed by Japan, in 2015. In North America, the U.S. is the largest consumer of insulation products. The key reasons attributed to the growth in the Asia-Pacific region are emerging economies, government initiatives for FDI, growing awareness of insulation products, and, most importantly, the increasing trends in end-use industries such as construction and OEMs among others.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1 – 41%, Tier 2 – 17%, and Tier 3 – 42%
By Designation: C-level – 48%, Manager Level – 32%, and Others – 20%
By Region: North America – 44%, Asia-Pacific – 28%, Europe – 19%, and RoW – 9%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2014. Tier 1: Revenue >USD 500 million, Tier 2: Revenue USD 100 to 500 million, and Tier 3: Revenue
The various suppliers of Insulation products profiled in the report are:
1. E. I. du Pont de Nemours and Company (DuPont) (U.S.)
2. Trelleborg AB (Sweden)
3. Avery Dennison Corporation (U.S.)
4. Sika AG (Switzerland)
5. BASF SE (Germany)
6. DUNMORE Corporation (U.S.)
7. Johns Manville, Inc. (U.S.)
8. Knauf Insulation (U.S.)
9. 3M Company (U.S.)
10. Owens Corning (U.S.)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the insulation products market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
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