Building Insulation Material Market Information by Material used (Stone Wool, Glass Wool, EPS, XPS, and others) by Application (Walls, Roofs and Floors) by End-use (Commercial, Residential, and others) and Region - Forecast to 2021.
Pune, India -- (SBWIRE) -- 02/09/2018 -- Market Scenario of Building Insulation Material Market
The Global Building Insulation Material market is growing rapidly and new advent technologies and procedures are lifted along with it. The market is growing with the rapid pace; mainly due to the increasing demand for energy conservation. The global building insulation material market is expected to reach to multimillion dollars at the end of the forecasted period and is expected to show a staggering growth at a substantial CAGR from 2017 to 2021.
Building insulation materials are the building materials which form the thermal envelope of a building to reduce heat transfer eventually, conserving energy.
Insulation materials run the gamut from bulky fiber materials such as fiberglass, rock and slag wool, cellulose, and natural fibers to rigid foam boards to sleek foils. Bulky materials resist conductive and to a lesser degree convective heat flow in a building cavity. Rigid foam boards trap air or another gas to resist conductive heat flow. Highly reflective foils in radiant barriers and reflective insulation systems reflect radiant heat away from living spaces, making them particularly useful in cooling climates. Other less common materials such as cementitious and phenolic foams and vermiculite and perlite are also available.
Some natural fibers including cotton, sheep's wool, straw, and hemp -- are used as insulation materials.
Mineral wool contains an average of 75% post-industrial recycled content. It doesn't require additional chemicals to make it fire resistant, and it is commonly available as blanket (batts and rolls) and loose-fill insulation.
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Growth Drivers of Building Insulation Material Market
The global building insulation material market is driven by the increased aesthetic sense of construction and reduced heating & cooling costs. There is an increased usage of building insulation material due to the increased energy saving practices which results in reduced greenhouse emissions. The increased demand for building insulation material is also driven by the growing application across residential and non-residential construction. Additionally, factors such as increased aesthetic sense of construction and reduced heating & cooling costs have provided impetus to the market growth of Building Insulation Material. Furthermore, the increased usage of building insulation material attributed to the increased energy saving practices that lead to reduced greenhouse emissions is fostering the market growth. Moreover, the growing application across residential and non-residential construction is propelling the demand for building insulation materials.
Market Segments of Global Building Insulation Material Market:
Global building insulation material market is segmented on the basis of Material used, Application, End-use, and Region. On the basis of Material used it is segmented as Stone Wool, Glass Wool, EPS, XPS, and others. On the basis of Application it is segmented as Walls, Roofs and Floors. On the basis of End-use it is segmented as Commercial, Residential, and others. Additionally on the basis of Region, it is segmented as North America, Europe, APAC and Rest of the World.
Key Players for the Market:
The key players of global building insulation material Market report include- BASF SE, Rockwool International A/S, Lloyd Insulations (India) Limited, Knauf Insulation, Johns Manville Inc., Owens Corning Corporation, and GlassRock Insulation Company. Other prominent players of the market include Paroc Group, Saint-Gobain S.A, GAF, PPG Industries Inc., Kingspan Group Plc, and Beijing New Building Material Co. Ltd.
Regional Analysis of Building Insulation Material Market:
North America will dominate the market with the largest market share for Global building insulation materials Market Attributed to the growing need of energy saving construction methods and government and non-government regulations for energy saving practices; North America is expected to grow rapidly with the largest market share by 2021. The market is expected to grow further continuing with the trend of fast growth.
APAC will expand at a substantial CAGR over the forecast period with a bigger market share by 2021. Europe and Rest of the World is expected to acquire a considerable market share and will expand at a striking CAGR by 2021.
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