Thermal Insulation Material Market 2022
The study of market analysis of Thermal Insulation Material Market focuses on the key elements and the market dynamics of a specific market within that industry. Thermal Insulation Material Market study is an essential part of the industry analysis that focuses on the aspects associated with the SWOT analysis. The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company.
PMR indicates steady growth for the global thermal insulation material market over a four-year forecast period, 2016-2022. By 2016 end, the revenues are likely to reach US$ 45.073.8 Mn and is expected to reach a valuation of US$ 53,286.8 Mn in 2022. The market will observe stable growth at a CAGR of 4.1% during the forecast period. Developing economies will continue to lead the market globally, witnessing strong growth throughout the next four years.
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With the rapid development of the construction industry all over the world, there is a steady demand for thermal insulation materials globally and this is a major factor boosting the growth of the global thermal insulation material market. In addition, various initiatives of the government all across the world in the field of energy conservation in buildings also aid the development of thermal insulation material market. These are some of the findings of the latest in-depth report released by Persistence Market Research titled as ‘Thermal Insulation Material Market: Global Industry Analysis and Forecast 2017 – 2022’.
Key Companies-
- Saint-Gobain S.A.
- Kingspan Group
- Dow Chemicals Company
- Asahi Kasei Corporation
- BASF SE
- Owens Corning
- Bayer AG
- EI du Pont de Nemours and Company
- Rockwool International
- Berkshire Hathaway (Johns Manville)
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Global Thermal Insulation Material Market: Market Dynamics
Macroeconomic factors such as growing GDP, increasing income levels and rising purchasing power of consumers in emerging economies such as China and India have increased significantly in the last three to five years, due to which, consumer electronic products have gained traction. This has increased demand for raw materials such as thermal insulation used in refrigerators and air conditioners. Moreover, the transportation medium for LNG/cryogenic gas requires thermal insulation materials for lining of pipelines and barrels to maintain the required temperature. Insulation materials generally used include polyurethane, polystyrene and other foams. These thermal insulation products are widely used for transportation of LNG in barrels and pipelines. This is expected to continue to drive demand for thermal insulation materials in the global thermal insulation material market.
The global thermal insulation material market is weak in terms of distribution channels and hence, it is difficult for manufacturers to reach target audiences easily or to effectively create awareness about products. As a result, growth of the thermal insulation material market is not expected to be robust over the forecast period despite growing concern about energy conservation.
Global Thermal Insulation Material Market: Segmentation and Forecast
The global thermal insulation material market is segmented on the basis of material type, temperature range and region.
- On the basis of material type, fibreglass is the largest segment in the global thermal insulation material market, and is likely to represent nearly 43% of the total market revenue by 2020 end. Fibreglass is expected to account for US$ 22,534.8 Mn in 2020, gaining some amount of market share as compared with year 2017.
- On the basis of temperature range, thermal insulation material market for temperature ranges −49?C to 0?C and 1?C to 100?C are estimated to aggregately represent 86.4% market value in 2020 with a gain in market shares for both of these segments.
- On the basis of region, Asia Pacific is the largest and fastest growing market and is projected to account for US$ 22,250.4 Mn by 2020, gaining a considerable amount of market share.
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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