Market Research Report
Insulation Market Size, Share & Trends Analysis Report By Product (EPS, XPS, Glass Wool, Mineral Wool), By Application (Infrastructure, Industrial, HVAC & OEM), By Region, And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||352296|
|Published||Content info||375 Pages
Delivery time: 2-3 business days
|Insulation Market Size, Share & Trends Analysis Report By Product (EPS, XPS, Glass Wool, Mineral Wool), By Application (Infrastructure, Industrial, HVAC & OEM), By Region, And Segment Forecasts, 2019 - 2025|
|Published: July 9, 2019||Content info: 375 Pages||
The global insulation market size is expected to reach USD 76.93 billion by 2025, as per a new report by Grand View Research Inc. It is anticipated to expand at a CAGR of 5.7% during the forecast period. Rapid urbanization, population growth and industrialization in developing countries is estimated to boost the growth.
Moreover, government initiatives to promote energy efficiency and sustainable development through insulation technologies are estimated to fuel growth of the global insulation market. Initiatives through the Weatherization Assistance Program (WAP) by the U.S. government through federal funding to encourage the use of thermal insulation in low-income households are likely to drive the market growth in North America.
Strict insulation codes and laws effectuated by the European regulatory authorities have contributed to the rising awareness regarding rising energy costs and the need for energy efficiency. The market for industrial insulation is estimated to exhibit high growth owing to the growing thermal energy production which calls for the extensive need of insulation to maximize efficiency.
Additionally, the U.S. industrial insulation market is expected to benefit from recovering nonresidential building construction expenditures, particularly in the office and commercial segments. Rising awareness regarding environmentally friendly construction practices is expected to propel insulation use with an aim to reduce energy consumption.