Report Description
ALBANY, New York, April 22, 2015 : According to the latest report added to Market Research Reports Search Engine (MRRSE), the global market for insulation will reach a total value of US$64.91 billion by 2020. The report is titled “ Insulation (Fiberglass, Plastic Foam, Mineral Wool and Others) Market for Residential Construction, Industrial, HVAC & OEM, and Nonresidential Construction Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020 ”.
The product segment of fiberglass dominated the global insulation market with a total market share of 42% in 2013. However, this sector might not be able to maintain its dominance in the coming years. The number of fiberglass insulation producers has increased as a result of American subsidiaries of foreign firms and enhancements in productivity by U.S. manufacturers. It has led to excess production that the current and future market for fiberglass insulation cannot accommodate.
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Scope
This report from Transparency Market Research states that the global insulation market will grow at an 8.0% CAGR during the forecasting horizo n of 2014 to 2020. The market was valued at US$37.87 billion in 2013.Rising infrastructure in commercial and nonresidential sectors is boosting the demand for insulation in the developing economies of Asia Pacific such as China, Japan, South Korea, and India. Regulatory organizations in the U.S. and European Union have adopted legislations to encourage energy-efficient buildings. These regulations are driving the insulation materials market in North America and Europe.
Key Players
Some of the key players in the insulation market are Owens Corning, Johns Manville, CertainTeed Corporation, Huntsman Corporation, and Knauf Gips KG.
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