Albany, NY -- (SBWIRE) -- 11/26/2018 -- Global Thermal Insulation Market: Snapshot
The global market for thermal insulation is benefitting from government-backed environmental regulations for conservation of energy in buildings. In particular, governments in cold countries are actively promoting zero energy loss buildings that can be attained by means of reliable thermal insulation materials. As per the analysis revealed by the institute for Energy Diversification and Saving (IDEA), thermal insulation improvements can account for up to 30% drop in heat and air conditioning consumption to translate into energy and money savings and reduction in CO2 emissions as well.
Proving to challenge the growth of thermal insulation market is the high price of insulation materials that is resulting in their low adoption.
A report by Transparency Market Research forecasts the worldwide market for thermal insulation to reach a valuation of US$77,770.7 mn by the end of 2025 increasing from US$48,288.3 mn in 2016 at a CAGR of 5.4% between 2017 and 2025.
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Building & Construction End-user to Continue to Remain Significant
In this report, the global thermal insulation market is evaluated on the basis of product, foam, end-user, and region. Based on product, the market is categorized into cellular material, fibrous material, and granular material. The cellular material segment is further sub-segmented into glass, polypropylene, polyurethane, polystyrene, polyisocyanurate, and epoxy. The segment of fibrous material comprises mineral, fiberglass, silica, alumina silica, and silicone rubber as sub-segments. The granular material segment comprises cellulose, calcium silicate, perlite, aerogel, and expanded vermiculite as sub-segments. Amongst all, fibrous material reported the leading demand in 2016 among other thermal insulation products.
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Based on foam type, the market has been classified into rigid board, rigid foam/foam board, flexible foam, sprayed foam, batts, loose fillers, barriers, and others. Vis-à-vis revenue, the segment of rigid board held more than 30% of the market in 2016.
By end-user, the thermal insulation market has been segregated into building & construction, oil & gas, aerospace & aviation, mechanical systems, clothing, automotive, industrial, and others. The building & construction segment comprises residential and commercial sub-segments. The oil & gas segment is further sub-segmented into offshore, subsea, and others. Of them, the building & construction segment constituted the leading more than 50% in 2016.
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