Albany, NY -- (SBWIRE) -- 06/27/2014 -- Insulation refers to a process wherein a non-conducting material is used to isolate something from its surroundings, and sustain its normal state of being. It can be used for different purposes like sound, heat, and electricity insulation. However, the insulation market is heavily influenced by the high-growth building-insulation market. This market can be classified into residential, non-residential, and industrial insulation. Insulators are useful for controlling the energy efficiency of the house, or in an industrial setting and also in reducing the carbon footprint. Insulators can be classified broadly into two categories, Mineral fibers, and Plastic foams among which the later account for the majority of sales.
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The insulation market has witnessed high growth over the last decade and is expected to grow at least at the same pace. The biggest market for insulation is the North American region, followed by Europe. Germany leads the demand in Europe followed by the industrial countries like France, Italy, the UK, and Spain. These markets are expected to be steady and grow at a slow pace. However, strong demand is expected to be generated from the nascent markets in Asia-pacific, China, and Latin America.
The main driver of this industry is the growing market in the Asia-Pacific, boosted by the real estate and industrial boom. Insulation is still uncommon in Asia but it is fast catching up, as environment awareness among the public is on the rise. The market is the U.S. is matured but is still growing at a considerable rate. The initiative to change the climate taken up by the government has considerably boosted the home insulation market. In the western market, only about a quarter of the demand is from new buildings, and the rest is retrofit. The retrofit market is considerably large in the USA.
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Although insulation is an environment friendly application, it still poses some threat to the environment. Over the years due to the improvement in technology, new highly efficient blowing agents have been developed. These blowing agents consist of an ozone depleting material (CFC), which is not desirable. R&D of environment friendly insulation materials is being carried out to negate this issue. Some of the market players in this industry are Knauf, Rockwool, Celotex, Xtratherm, Isover, and Kingspan.
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