New York, NY, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Thermal Insulation Market by Product (Cellular Material, Fibrous Material, and Granular Material), by Foam (Rigid Board, Rigid Foam/Foam Board, Flexible Foam, Sprayed Foam, Batts, Loose Fillers, Barriers, and Others), by End-User (Building & Construction, Oil & Gas, Aerospace & Aviation, Mechanical Systems, Clothing, Automotive, Industrial, and Others) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024’’. According to the report, global thermal insulation market was valued at around USD 50,000 million in 2017 and is expected to reach approximately USD 70,000 million in 2024, growing at a CAGR of slightly above 5% between 2018 and 2024.
The thermal insulation is used to maintain a hygienic indoor climate at low ambient temperature. The major application of the thermal insulation is to save energy in the cold climate and decrease the heating demand in order to protect the environment. The various end-users for thermal insulation are building & construction, oil & gas, aerospace & aviation, mechanical systems, and others.
Browse through 81 Tables & 36 Figures spread over 110 Pages and in-depth TOC on “Global Thermal Insulation Market: By Type, Share, Size, Industry Growth, Segments, Analysis and Forecast, 2017-2024”.
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In various countries, the government is promoting the construction of buildings that are zero energy buildings. There is a high growth in the application of thermal insulations in the single-unit houses, office buildings, hospitals, hotels, and lodging, which is expected to drive the market in the upcoming period. The real estate market is growing at a high rate. The refurbishment activates are also been carried out for the old homes in order to develop the insulation system. Moreover, the key players are also making various developments in the market. For instance, Ashburton Ventures which is one of the key players in the market has done a partnership with ZMM Canada Minerals and has entered the vacuum insulation panel and aims to target the construction industry.
The major restraining factor for the global thermal insulation market is high prices of the insulation materials. However, high energy requirements are likely to provide many opportunities for the key players operating in the global thermal insulation market.
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The global thermal insulation market is fragmented based on product, foam, and end-user. Based on product, the segmentation is done as fibrous material, cellular material, and granular material. Based on foam, the segment is divided into the rigid board, rigid foam/foam board, sprayed foam, loose fillers, flexible foam, barriers, batts, and others. Based on end-user, the market is segmented into building & construction, aerospace & aviation, oil & gas, automotive, mechanical systems, clothing, industrial, and others. Buildings & construction is estimated to be the most dominant segment of the global thermal insulation market and is anticipated to maintain this trend over the predicted period. Increase in the construction industry is expected to drive the need for thermal insulation in the years to come.
The regional segmentation of thermal insulation market is categorized into Europe, Asia Pacific, North America, Latin America, the Middle East, and Africa. North America thermal insulation market is expected to witness major growth over the forecast period. The various end-users of the market are building & construction, oil & gas, aerospace & aviation, mechanical systems, clothing, automotive, industrial, and others which are driving the growth of the market.
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Europe is likely to witness a substantial growth for thermal insulation due to the favorable regulatory inclinations in the region. The government is boosting various policies in the region which makes the states comply with zero energy standards by the end of 2020.
North America thermal insulation market is expected to witness major growth over the estimated period. The growth in the construction industry is the major factor that is driving the growth of the thermal insulation market in the region. The presence of strict building energy codes along with demand for thermal insulation in the housing sector is expected to be a major factor that is helping in the growth of the market.
Browse the full "Thermal Insulation Market by Product (Cellular Material, Fibrous Material, and Granular Material), by Foam (Rigid Board, Rigid Foam/Foam Board, Flexible Foam, Sprayed Foam, Batts, Loose Fillers, Barriers, and Others), by End-User (Building & Construction, Oil & Gas, Aerospace & Aviation, Mechanical Systems, Clothing, Automotive, Industrial, and Others) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017-2024" report at https://www.zionmarketresearch.com/report/thermal-insulation-market
Asia Pacific is likely to witness slow growth in the thermal insulation market during the forecast period. Construction is likely to be the most prevailing end-user in Asia Pacific which increases the use of thermal insulation in the region.
Some of the major players operating in the global thermal insulation market are Asahi Kasei Corporation, Kingspan Group Plc, Johns Manville, Covestro AG, The Dow Chemicals Company, Armacell, Insulcon Group, Isolatek International, BASF SE, Owens Corning, Saint-Gobain S.A., and Saint-Gobain S.A., amongst others.
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The report segments the global thermal insulation market as follows:
Thermal Insulation Market: Product Segment Analysis
- Cellular Material
- Fibrous Material
- Granular Material
Thermal Insulation Market: Foam Segment Analysis
- Rigid Board,
- Rigid Foam/Foam Board
- Flexible Foam
- Sprayed Foam
- Batts
- Loose Fillers
- Barriers
- Others
Thermal Insulation Market: End-User Segment Analysis.
- Building & Construction
- Oil & Gas
- Aerospace & Aviation
- Mechanical Systems
- Clothing
- Automotive
- Industrial
- Others
Thermal Insulation Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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