LONDON, Aug. 4, 2016 /PRNewswire/ -- "The thin insulation market is projected to register a CAGR of 5.8%"
The market size of thin insulation is projected to reach USD 2.12 billion by 2021, registering a CAGR of 5.8% between 2016 and 2021. Increasing demand from applications such as building thermal insulation and automotive is the major driver for the thin insulation market. The automotive segment is expected to rise significantly in the growing economies of Asia-Pacific such as, China, India, and other developing countries.
Building thermal insulation and automotive are the fastest-growing applications of thin insulation
Building thermal insulation and automotive are the fastest-growing applications of thin insulation. Thin insulation is used widely in the oil & gas and construction industries. Less space consumption, toughness, and excellent lightweight characteristics of thin insulation enhances the growth of the building thermal insulation and automotive applications. Thin insulation protects pipes from corrosion and increase their durability and weight saving capability.
North America is projected to be the largest market by 2021
North America is projected to be the largest thin insulation market by 2021 due to the presence of numerous key companies in the region. Increased focus on energy-efficient buildings, stringent requirements for insulation, and new building codes have generated awareness about building insulation in the region that are also the major factors influencing the thin insulation demand in the region.
Asia-Pacific is the fastest-growing market for thin insulation globally with China being the largest as well as fastest-growing country in the region. Increasing rural to urban migrations in the region are stimulating the housing construction demand in urban areas; consequently increasing the market size of the thin insulation materials. The growing construction sector (residential and non-residential) and advances in process manufacturing are some of the key drivers for the market in Asia-Pacific. Countries such as India, Indonesia, and China are expected to witness high growth in the thin insulation market, supported by increasing demand from the building & construction industry.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided in three categories: by company type, designation, and region.
- By Company Type- Tier 1- 40%, Tier 2- 25%, and Tier 3- 35%
- By Designation- C-levels- 30%, Researchers- 40%, and Presidents- 30%
- By Region- North America- 45%, Europe- 22%, Asia-Pacific- 17%, and RoW- 16%
The report also includes company profiles and competitive strategies adopted by the major market players such as The Dow Corning Corporation (U.S.), Actis Insulation (U.K.), BASF Polyurethanes GmbH (Germany), and Kingspan Insulation Ltd. (U.K.).
Reasons to Buy the Report:
- To understand the global, regional, and national scenarios.
- To understand the market trends and dynamics along with key drivers
- To identify the present and upcoming market opportunities
- To identify the potential markets in various regions for thin insulation
- To track the recent developments in the thin insulation market
- To understand the competitive background of the industry and positioning of participants in the market
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