Insulation Market - Overview
The global insulation material
market is expected to witness moderate growth over the forecast period. The
growth of building insulation material market is influenced by increased
consumption in Asia, increasing FDI in construction, supportive government
regulations on building insulations, and supportive government regulations
& initiatives to promote construciton. Fluctuation in raw material prices
and unavailability of skilled labor hinder the growth of the market.
The rise in FDI inflows was more
prominent in developed economies, which received USD 962 billion in 2015, i.e.
84% more than in 2014. The Asia-Pacific region continued to receive a
significant amount of FDI inflows, totaling USD 559 billion in 2015, an
increase of 5.6% over 2014 level. The FDI inflows in construction in
Asia-pacific region has led to increased construction projects and real-estate
development. This would induce the demand for insulation in the construction
scto in Asia Pacific region.
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There are various organizations
and departments across the globe that govern the application of insulation in
the construction. This induces the market of building insulation material on a
global level. In the U.S., bodies such as The American Society of Heating,
Refrigerating, and Air-Conditioning Engineers (ASHRAE) Standard 90.1 Energy
Standard for Buildings Except Low-Rise Residential Buildings provides minimum
requirements for the energy-efficient design of commercial and high-rise
residential buildings. ASHRAE 90.12 is a consensus standard that provides
minimum requirements for the design of energy-efficient buildings. Such
regulations has spiked the demand for building insulation material across the
globe.
Insulation acts as a barrier to
heat loss and heat gain, particularly in roofs, ceilings, walls and floors.
Insulation in any building provides resistance to heat flow and lowers the
heating and cooling costs. In addition, insulation may reduce condensation
in the home. This can provide health benefits by reducing mould and damp. This
would drive the market for insulation.
Global Insulation Market
- Competitive Analysis
The key players adopted various
strategies to retain and/or expand their market share. The key strategies
followed by most companies within the global building insulation material
market were expansion followed by the product development. Extensive growth in
building insulation material market has brought to light that companies are
investing heavily in expanding its presence across borders. The increasing
demand and private construction has led to investment by manufacturers to
expand the market share and brand name. Thus the next strategy followed by the
companies is product development. It is a key strategy adopted to expand their
product portfolio and meet expanding customer base. The market is governed by
favourable government regulations pushing the use of insulation in the
construction to balance the energy conservation.
BASF has resorted to securing its
position in Europe market remains as one of the key strategies along with its
expansion plans in North America, Asia, South America, Eastern Europe, and the
Middle East.
On the other hand, Owens also
believe that the geographic, product and channel mix of their portfolio may
continue to moderate the impact of any demand-driven variability associated
with United States new construction. Furthermore increasing R&D expenses
since FY2014 shows the focus of the company on the product development and
innovation. It made an expenditure of USD 82 million in FY2016 as compared to
USD 73 million in FY2015 in R&D.
Paroc Group has made various
capital investments for the financial period 2016 in order to upgrade the
capacity and expand the Polish factory that was completed in 2016. Furthermore
investments were also made on new packing end equipment for Lithuanian
factory.
Global Insulation Market
- Segments
Global Insulation
Market is segmented in to 3 Key dynamics for an easy grasp and enhanced
understanding.
Segmentation By Material : Comprises
– Fiberglass, Plastic fibers, Mineral Wool, Natural fibers and others
Segmentation By
Application :
Comprises – Residential, and Non-residential
Segmentation By Regions
: Comprises
Geographical regions - North America, Europe, APAC and Rest of the World
Global Insulation Market
- Regional Analysis
North America is the second
largest region for the building insulation material market. The North America
building insulation material market is driven by various factors such as
consumer preference for green buildings and sustained investments in commercial
real estate. In North America, U.S. is the largest market for the modular
construction. It accounted for the largest market share in 2016. In the past
few years, the annual value of construction in U.S. had been increasing
continuously. Strong development in commercial and residential structures in
the U.S., is projected to fuel the demand for insulation in the construction
market in the region.
Europe is an important market for
the global building insulation material. Increasing up gradation of the
existing infrastructure, rising environmental concerns and the growing interest
in energy saving & cost benefit construction, are the factors driving the
growth of the market in European region. In Europe, U.K. is major market
for the building insulation material. The rise in construction output is
attributed to private housing, commercial and infrastructure construction
growth coupled with growth in privately funded projects in the education and
the health sector.
