About the Report
Insulation materials are quite widespread and affordable, with several exhibiting qualities suited for a range of end use applications. Demand and sales are influenced by a number of important aspects, including retail value, prices, flammability, environmental impact, and sound insulation effectiveness.
Among the more well-known thermal insulation materials are fibreglass, mineral wool, cellulose, polyurethane foam, and polystyrene. The adoption of thermal insulation materials is further aided by growing sustainability awareness and investments, as well as by decreased fossil fuel energy use and emissions.
How Do Market Past Performance and Future Prospects Compare?
The market for thermal insulation materials has grown steadily over the past five years, from 2016 to 2020, with a CAGR of more than 4.2%. In addition to product development and distribution initiatives across the Asia Pacific area, multinational corporations like Asahi Kasei Corporation, BASF SE, and E. I. du Pont de Nemours and Company have made significant progress in their geographic growth strategies.
How Do Green Building Developments Affect Sales Opportunities?
Energy and natural resources have been used extensively to produce materials used in the building and construction industry. The idea of “green buildings,” which has gained popularity over the past few decades, is regarded by many as a technological and managerial strategy for the building and construction sectors to maintain the sustainability of the industry’s use of energy and resources. Due to the contributions of sustainable resources, the development and application of green construction materials thus plays a crucial role in green building advancements.
How do automotive applications aid market expansion?
Climate control systems are gaining ground in the global car industry quickly as passenger comfort is being prioritised more and more. The sector is finding uses for advancements in ventilation, integrated heating, and air conditioning systems to maintain ambient comfort levels.
The requirements for automobile climate control technologies are changing due to shifting market demands, mounting environmental challenges, and shifting consumer expectations. Because of this, concerns now include not only insulating technology but also environmental friendliness, passenger comfort, and fuel efficiency. In consequence, this has greatly increased the market for thermal insulation products.
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What obstacles must leading manufacturers prepare for?
Production and sales of thermal insulation products were significantly affected by the COVID-19 pandemic. The market has been significantly impacted by restrictions put on the building and automotive industries. The desire for more infrastructure, particularly in the healthcare industry, has, on the other hand, helped to lessen some of the losses.
Additionally, a number of thermal insulation materials, including stone and glass wool, have negative health impacts that include eye and respiratory discomfort. Due to production-related carcinogen emissions, polymer-based insulating materials are likewise subject to severe regulations. During the projection period, these health and environmental issues will still be major factors impeding market growth.
How is the German market for thermal insulation materials expected to perform?
Construction accounts for 40% of energy use and a sizable portion of carbon dioxide emissions, according to a report by the German Federal Ministry for Economic Affairs and Energy.
Through the year 2030, the EU Structures Directive has established severe energy standards for buildings. As a result, not just for brand-new construction but also for existing buildings, the technical specifications for energy-efficient buildings are getting more and more stringent. Germany is also a significant contributor to the European automobile industry, thus its demand for thermal insulation materials will likely continue to expand faster than average for the foreseeable future.
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By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
