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Building thermal insulation market to get massive returns from construction sector, global industry valuation to cross USD 34.9 billion by 2024

Author : Rahul Varpe | Published Date : 2019-06-13 

Global Market Insights add Building Thermal Insulation Market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.

Wool insulation material contributes more than 50% of consumption in Building Thermal Insulation Market in 2016. Increasing demand from commercial and residential construction will drive the product demand. It is extensively used in sheets & blankets form with a temperature sustaining capacity of above 400 degrees Celsius.

UAE is anticipated to worth more than USD 260 million in 2016 and has become one of the most attractive hub for infrastructure spending. Increased adoption of technologies for curbing hot weather conditions, greenhouse gases and improved business environment will strengthen the product demand.

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High energy saving, reduced carbon footprints, and easy product availability are key factors fueling building thermal insulation market. Heat loss in a building through its walls, roofs and floors accounts for more than 70%. Benefits offered such as room temperature maintenance at minimum possible energy consumption will increase the product penetration.

Increasing adoption rate of International Energy Conservation Code (IECC) from 2012 has stimulated product growth in construction sector. Additionally, government norms corresponding to limited greenhouse gas emissions and energy conservation is anticipated to drive building thermal insulation market.

Building Thermal Insulation Market size is estimated to exceed USD 34.9 billion by 2024. Rising demand for energy conservation and high growth in construction spending will propel building thermal insulation market. Global construction industry was valued above USD 7 trillion in 2015 and will exceed USD 14 trillion by 2024. China, U.S and India together accounted for nearly 55% share in the same year.

Expanded polystyrene will witness 4.2% CAGR up to 2024. Superior properties including lightness, durability and process ability of the material have enhanced the industry growth. It offers similar thermal resistance as that of its counterparts with even lesser quantity due to high R-value.

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Ease of installation, along with high moisture sensitivity, compressive strength, better thermal conductivity and durability are key properties encouraging product penetration. Technological enhancement such as multi chamber profiles, double and triple insulated glass will promote industry growth.

Residential market is set to grow over 4% through to 2024. High consumer spending, nuclear family evolutions, and rising population will have a positive influence product demand. 

Global industry share includes Dow, Owens Corning, Johns Manville, Huntsman International, CertainTeed, Kingspan Group, BASF Polyurethanes, and Saint-Gobain.

Related News -  http://technologymagazine.org/europe-building-materials-market-3/ 

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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