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Insulation market to gain commendable proceeds from residential & construction applications, global industry revenue to surpass USD 70 billion by 2024

Author : Rahul Varpe | Published Date : 2019-03-12 

Citing yet another instance of a significant takeover, the Texas-based insulation market behemoth, Huntsman Corporation, has recently declared to have concluded the purchase of one of the leading distributors and manufacturers of spray polyurethane foam (SPF) insulation systems in the U.S., Demilec. Industry observers claim that the latest buyout is in line with Huntsman’s strategy to leverage Demilec’s portfolio of SPF insulation systems and enhance its downstream polyurethanes business in the times to come. It would be prudent to mention that Demilec specializes in both open cell and closed cell formulations with a focus on products with recyclable and renewable content that are ecologically sound and help in lowering energy consumption through highly-efficient insulation properties. It goes without saying that the latest acquisition would aid Huntsman Corporation to contribute enormously toward propelling the revenue share of the insulation market in the U.S.

Over the recent years, the global insulation market has been traversing along an exponential growth path owing to the escalating concerns pertaining to global warming along with the need to replace insulating materials in both commercial and residential complexes to promote energy efficient systems. Moreover, it has been observed that a plethora of favorable government policies and stringent building regulations being prescribed by numerous governmental agencies have further fueled the growth prospects of this business space. Indeed, the overall insulation industry would undoubtedly remain to be a vital business domain which would assist developed and developing nations in achieving their carbon emission and energy saving targets in the times to come.

Speaking of the major governmental guidelines which have influenced the commercialization potential of the overall insulation market, the Concerted Action Energy Performance of Buildings Directive (CA EPBD) has emerged as one of the foremost regulatory structures of all. Apparently, the CA EPBD is being termed as the cornerstone in the European Union (EU) legislation which aims to contribute toward a significant reduction of energy utilization in the buildings across the continent through the exchange of best practices and knowledge in the field of energy savings and energy efficiency among all Member States of the EU.

To access a sample copy or view the insulation market report in detail along with the table of contents, please click the link below: www.gminsights.com/request-sample/detail/2579 

A joint program of the European Commission and the member states of the EU, CA EPBD promotes new buildings construction complying zero-energy standards up to 2020 and realize the saving potential in buildings given that they account for around 40 percent of the total energy consumption in the EU. Needless to mention, such comprehensive and robust regulatory structures would undeniably assist the insulation market share to achieve greater heights in the forthcoming years.

Speaking of the business tactics being adopted by prominent players partaking in the insulation industry, it would be imperative to mention the strategic acquisition bids that have been concluded in the recent past. Owens Corning, for instance, has recently announced to have completed the takeover of a Chinese mineral wool manufacturer, Guangde SKD Rock Wool Manufacture Co., Ltd. According to the statement released by the firm, the latest buyout would provide its consumers in China with cutting-edge products in both high-temperature industrial-application and mid-temperature building space. Apparently, as a consequence of the latest acquisition, the U.S. based insulation market giant has undeniably scaled up its manufacturing capabilities and technology portfolio in China.

The ever-increasing construction activities and a swift pace of industrialization across numerous emerging economies would primarily drive the need for advanced insulating materials. In addition to this, the rising demand for energy efficient and durable homes coupled with technological developments in insulation technology would further boost the commercialization scale of the overall insulation industry in the ensuing years. In fact, as per a research report collated by Global Market Insights, Inc., the total revenue collection of the worldwide insulation market is estimated to surpass a humongous USD 70 billion by 2024.

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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