Insulation Market to reach US$ 69.4 Billion by 2027 |Growth Rate (CAGR of 5.4%) | Forecast Report

IMARC Group expects the global insulation market to reach US$ 69.4 Billion by 2027, exhibiting at a CAGR of 5.4% during 2022-2027.

SHERIDAN, WYOMING, UNITED STATES, October 25, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled "Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global insulation market reached a value of US$ 50.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 69.4 Billion by 2027, exhibiting at a CAGR of 5.4% during 2022-2027.

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Insulation refers to the process of obstructing electricity, heat, and sound from entering or exiting a physical space. It is achieved by installing insulation materials that are a barrier to energy flow. Insulators usually have low thermal conductivity and are available in the form of polyethylene, mineral wool, polystyrene, etc. Wood-based products, including wooden doors and hardboard, also aid in insulation, and spray foams and adhesive strips fill gaps between tiles and windows. The insulation of an area assists in lowering energy costs and moisture condensation and improving the security and protection quotient for the individuals. It also assists in minimizing heat loss from bare pipes and uninsulated valves inside buildings, along with reducing noise pollution. As a result, insulation finds widespread applications in HVAC, transport, and industrial equipment and appliances. 

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Insulation Market Trends:

The escalating industrial and residential construction projects and the expanding infrastructural development, especially in emerging nations, are among the primary factors driving the insulation market. Besides this, the elevating requirement for insulators in various industries, owing to the rising demand for power and energy, is further augmenting the market growth. Moreover, the growing popularity of insulation materials in automobiles to minimize noise and vibrations and enhance sound absorption and in manufacturing several parts, including wiper cowls, roll pans, and bumpers, is also catalyzing the global market. Apart from this, the increasing sales of cooling appliances, such as air conditioners and refrigerators, are acting as significant growth-inducing factors. Furthermore, the inflating disposable incomes of individuals and the extensive research and development (R&D) activities are expected to bolster the insulation market in the coming years.

Competitive Landscape with Key Players:

The report has also analysed the competitive landscape of the market with some of the key players.

GAF
Knauf Insulation
Johns Manville
3M Company
Owens Corning
Saint Gobain
Recticel
Kingspan Group
URSA
Rockwool Group
Atlas Roofing Corporation
BASF Polyurethanes
Byucksan Corporation
Bridgestone Corporation

Key Market Segmentation:

The report has categorized the market based on material type, function, form and end-use industry.

Breakup by Material Type:

Polystyrene
Mineral Wool
Glass Wool
Polyurethane
Calcium Silicate
Others

Breakup by Function:

Thermal
Acoustic
Electric
Others

Breakup by Form:

Blanket
Foam
Board
Pipe
Others

Breakup by End Use Industry:

Non-Residential
Residential
Industrial & Plant Equipment
HVAC Equipment
Appliances
Transport Equipment
Others

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

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Key highlights of the report:                                                    

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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