Insulation Materials Market Size to Reach USD 82.96 Billion in 2027 | Growing Need to Make Buildings More Energy-Efficient and Rising Requirement for Insulation Materials from Oil & Gas Industry are Some Key Factors Driving Industry Demand, says Emergen Research

VANCOUVER, BC, Aug. 18, 2021 /PRNewswire/ -- The global insulation materials market size is expected to reach USD 82.96 billion in 2027 at a CAGR of 5.3% during the forecast period, according to the latest report by Emergen Research. Market revenue growth can be attributed to increasing demand for insulation materials from building and construction sector to develop energy-efficient buildings and oil and gas industry for subsea pipelines. In addition, implementation of favorable regulations to encourage the use of insulation materials to reduce energy consumption and minimize emissions is also a key factor expected to contribute to revenue growth going ahead.

Insulation materials are important to achieve operational efficiency in buildings by enhancing thermal performance by reducing heat gain in hot weather and heat loss in winters. Insulation materials for buildings and construction have been mostly prepared from materials that have high level of industrial processing. Insulation materials are vital in conserving energy because they can efficiently heat flow. Some insulating materials also have a fire retarding properties. Most commonly used insulation materials include rock wool, glass wool, polystyrene, wood fiber, and plant fiber.

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Increasing awareness regarding conservation of energy from buildings and other infrastructure and rising number of construction activities in APAC countries are some other key factors driving market growth. Rapid industrialization and urbanization across the globe, growing need for better insulation in buildings, and increasing number of subsea cables and pipelines have also significantly contributed to revenue growth of the market. However, volatility of prices in raw materials is a key factor expected to restrain market growth to a significant extent over the forecast period.

Some Key Highlights in the Report:

• Expanded polystyrene segment accounted for largest revenue share in the global market in 2019 attributed to increasing preference for expanded polystyrene in various food packaging applications, energy-efficient and cost-effective insulation in infrastructure, and its remarkable attributes such as high thermal and bacterial resistance and improved dimensional stability.
• Online distribution channel is expected to register a steady revenue CAGR of 8.3% during the forecast period owing to increasing availability of wide range of insulation materials on e-commerce channels, rising penetration of smartphones and internet connectivity, and growing use of e-commerce channels for product marketing and commercialization.
• Infrastructure segment is expected to account for significantly large revenue share in the global market over the forecast period owing to increasing demand for enhanced insulation materials in construction sector for insulating roofs, walls, attics, and foundation to increase energy-efficiency of the infrastructures.
• Asia Pacific is expected to account for a considerable revenue share in the global market over the forecast period owing to rapid urbanization and a resultant need for energy-efficient buildings, growing demand for insulation materials in new construction and old restoration and renovation and from automotive sector, and robust presence of key market players in the region.
• Key companies in the 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., and Covestro AG.

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For the purpose of this report, 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; 2017-2027)

• Glass Wool
• Mineral Wool
• Expanded Polystyrene (EPS)
• Aerogel
• Extruded Polystyrene (XPS)
• CMS Fibers
• Calcium Silicate
• Polyurethane
• Others

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)

• Online
• Offline

Application Outlook (Revenue, USD Billion; 2017-2027)

• Infrastructure
• Industrial
• HVAC
• Transportation
• Appliances
• Furniture/Bedding
• Packaging

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Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Argentina
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Israel
• Rest of MEA

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