Insulation Materials Market by Regional Analysis, Key Players and Forecast 2026
The global insulation materials market was valued at US$ 65 Mn in 2017 and is anticipated to expand at a CAGR of more than 8% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Insulation Materials – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ The global insulation materials market has been expanding due to the rise in demand for these materials in building & construction, aerospace, and automotive industries. In terms of volume, the insulation materials market in Asia Pacific is expected to expand at a CAGR of more than 9% during the forecast period. Rise in cost of energy and enactment of building regulation codes are likely to propel the insulation materials market in this region.
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Rise in Demand for Fiberglass Material in End-use Industries
Increase in usage of fiberglass in construction and automobile industries is estimated to propel the insulation materials market. Consists of fine glass fibers, fiberglass is one of the ubiquitous insulation materials that is commonly used in two different types of insulation: blanket (batts and rolls) and loose-fill. It is also available as rigid board and duct insulation. Fiberglass is a non-flammable insulating material with R-values ranging from 2.9 per inch to 3.8 per inch. It is made by weaving fire strands of glass into insulating materials. It is a low-cost form of insulation material. Fiberglass is anticipated to be an attractive segment of the global insulation materials market during the forecast period, led by the increase in demand for insulation materials in building & construction, automotive, and aerospace applications.
Rise in Demand for Foam Board and Blanket Insulation in Building & Construction Industry
In terms of type, the insulation materials market can be classified into blanket insulation, concrete block insulation, foam board, insulating concrete form, loose-fill insulation, radiant barriers, rigid fiber board insulation, spray foam insulation, structural insulated panels, and others. Blanket insulation is a common and widely available type of insulation. It is available in the form of batts or rolls. It consists of flexible fibers, most commonly fiberglass.
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After foam board, the blanket insulation segment is anticipated to constitute major share of the global insulation materials market. Foam board is also a key segment of the insulation materials market. Foam board can be used to insulate almost any part of a home (from roof to foundation). It is effective in exterior wall sheathing, interior sheathing for basement walls, and special applications such as attic hatches.
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