Trending

[PDF] Thermal Insulation Materials Market: Big Changes To Have Big Impact- Coherent Market Insights

Thermal insulation materials are used to restrict the flow of heat energy from two ends of different temperatures. Usually, heat flows from high temperature to low temperature. Thermal insulation material offers insulation in which the radiative heat is reflected heat is reduced than being absorbed. Some of the common thermal insulation materials are fiberglass, stone wool, and plastic foam. These materials find application across buildings, clothing, mechanical systems, natural animal insulation, spacecraft, and automotive. Fiberglass material used for industrial applications is covered with aluminum cladding material. In the construction industry, it helps in enhancing the duration of thermal comfort without depending on mechanical air-conditioning particularly during inter-seasons periods.

The global thermal insulation materials market is projected to reach US$ 70 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.2% during the forecast period (2019 to 2027).

For Better Understanding, Download Sample Copy of Thermal Insulation Materials Report in Just One Single Step: https://www.coherentmarketinsights.com/insight/request-sample/3684

Competitive Section

Key players operating in the global thermal insulation materials market are Saint-Gobain S.A., Kingspan Group, Dow Chemicals Company, Asahi Kasei Corporation, BASF SE, Owens Corning, Bayer AG Rockwool International, E. I. du Pont de Nemours and Company, and Berkshire Hathaway.

Drivers

Increasing spending on the construction industry by the Indian government is predominantly fueling the market growth of thermal insulation materials. According to the India Brand Equity Foundation, in 2018, the infrastructure sector in India witnessed private equity and venture capital investments worth US$ 1.97 billion. Hence, growing investment by the government is expected to favor market growth over the forecast period.

Regionally, Asia-Pacific dominated the global thermal insulation materials market in 2018, reporting 44% market share in terms of revenue, followed by Europe and North America, respectively.

Figure 1. Global Thermal Insulation Materials Market, Revenue Share (%), By Region, 2018

Thermal Insulation Materials | Coherent Market Insights

Market Restraints

High capital cost of insulation materials is expected to hinder the demand for thermal insulation material in residential buildings and this is projected to hamper the market growth. The use of thermal insulation material in buildings saves a significant amount of energy in the form of electricity. However, due to the high capital cost of these materials, not all the owners opt for thermal insulation material and this is restricting the market growth.

Market Opportunities

Growth in smart city projects is expected to provide lucrative growth opportunity to the market of thermal insulation materials.  Increasing infrastructure development initiatives in developing as well as developed economies are projected to foster the demand for thermal insulation products. Also, an increasing number of energy-efficient buildings across the developed region is accelerating market growth.

Click Here To Purchase This Premium Report: https://www.coherentmarketinsights.com/insight/request-discount/3684

Growing investment Asian region especially in Japan & China by key players in the thermal insulation material market is expected to propel the growth of thermal insulation materials over the forecast timeframe. For instance, in 2015, it started a new production line in China for Duranol polycarbonatediol (PCD), which is used to make high-performance polyurethanes. Thus, such investment is expected to fuel market growth.

Market Trends

The growing focus of manufacturers on reducing thickness of material in order to enhance the performance of the material is expected to accelerate the market growth. Low thickness materials provide superior benefits in material handling and also improve the load-bearing capacity of the infrastructure. Hence of the use of low thickness material enable the manufacturing of efficient building structure, this is raising the demand for low-thickness material, in turn, propelling the market growth.

On the basis of material type, in 2018, fiber glass accounted the largest market share of 42% in terms of revenue in the global thermal insulation materials market, followed by plastic foam and stone wool, respectively.

Figure 4. Global Thermal Insulation Materials Market – Value Chain Analysis

Thermal Insulation Materials | Coherent Market Insights

nirav

About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformation growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
Back to top button