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Insulation market to garner commendable revenue by 2024, Rising demand from the Residential sector.

Author : Rahul Varpe | Published Date : 2019-04-04 

Global Market Insights provides a detailed overview of insulation market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of insulation market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Fiberglass Insulation Market generated sales over 6 billion square feet in 2017 owing to the wide application include wall cavities, attics, and small cavities spaces. Fiberglass majorly used in construction for providing high energy efficiency in commercial and domestic buildings owing to excellent thermal resistance, lightweight, fire resistance and acoustic resistance properties propelling insulation market. 

North America Insulation Market is expected to surpass USD 16 billion revenue. Residential application contributed over 50% of market share in 2017.

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U.S., Canada, Germany and other emerging economies are focusing on spreading awareness to achieve optimum utilization of resources. Continuous advancements in energy efficient technology in sustainable products for ventilation, insulation, and environmental protection to achieve high quality material will drive demand. Active involvement of authorities in sustainable energy audits emphasizing homeowners for presenting eco-friendly solution for domestic houses and public buildings positively impacting product market.

Insulation Market By Product

  • Fiberglass/Glass Wool
  • Mineral Wool
  • Plastic foam
    •    EPS
    •   XPS
    • Others
  • Others

Insulation Market By Application

  • Residential construction
  • Industrial, HVAC & OEM
  • Non-residential construction

U.S. government and Department of Energy was estimated rising electricity prices over 4% annually. Thereby, the government of various countries such as Canada, Mexico, China, South Korea, and Brazil are directly focusing on applying proper insulating materials include fiber wool, mineral wool, plastic foam and aerogel products are fostering insulation market share.

Increasing expenditure on energy efficiency infrastructure is primarily fueling insulation market growth. As per U.S. Census Bureau, construction spending has increased by 6.7% and observed over USD 13.3 trillion expenditure in 2016. Surging construction to improve residential, commercial, and industrial infrastructure along with energy conservation initiatives are key aspects fueling product demand.

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U.S. government and Department of Energy focusing on promotional activities for appropriate energy use by the adoption of proper insulating materials in building and houses to reduce energy losses are key factors boosting insulation market share during forecast time frame.

Global insulation market share is highly fragmented in nature due to the presence of internal as well as local manufacturers offering wide product range. Some major companies are Owens Corning, Rockwool International, Armacell, Knauf Gips, KG Huntsman International on improving production efficiency of several materials. These companies are focusing on reducing prices of material in order to strengthen market share.

Read More @  http://constructioncu.com/ 

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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