The global building thermal insulation materials market to grow at a CAGR of 3.63% during the period 2017-2021
Global Building Thermal Insulation Materials Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is growing demand for green insulation. The key attributes that have led to the adoption of green insulation materials in the construction industry include high energy efficiency, eco-friendly, low volatile organic compounds (VOC), and occupant comfort. Green insulation materials such as wool insulation, cotton insulation, and Icynene insulation from castor oil are significant because of their durability and performance.
According to the report, one driver in the market is stringent regulations and policies. The stringent government regulations and policies pertaining to energy-efficient buildings, particularly in developed countries such as the US, Germany, and the UK, are expected to drive the demand for building thermal insulation materials. Building codes are of prime importance for insulation along with many other building materials. Regarding insulation, building codes regulate the R-value that is required for various structures. In order to obtain the R-value and to meet specific energy requirements for buildings, contractors and builders use a wide variety of insulation materials.
Further, the report states that one challenge in the market is lack of skilled labor. The shortage of skilled labor is a major concern for construction and building firms worldwide. Combined with an aging workforce, it creates a major concern for construction firms seeking employees for positions ranging from skilled traders to managerial roles. Skilled labors constitute one of the vital resources for the successful completion of any construction project. Further, factors like intensive training and retention cost contribute to the shortage of labor in the construction market.