- The key vendors in the global insulation market 2015-2019 are BASF SE, Huntsman International, Knauf Insulation Group, Owens Corning Corp. and Recticel SA
London, 28 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global insulation market 2015-2019. Government regulatory policies worldwide is one of the major trends being witnessed in this market. Various government regulators have proposed regulations regarding the construction of buildings and energy efficiency. This is expected to compel industries and residential users to use insulation as a means of attaining energy efficiency. The global insulation market is expected to grow at a CAGR of 7.94% during the forecast period of 2014-2019.
Construction activities in both residential and non-residential sectors and increased retrofitting activities in Europe and North America will act as key drivers for the market growth. The major source of revenue for refurbishment and renovation activities for insulation materials is likely to come from developed countries such as the US in North America, and the UK, Germany, and France in Europe. As most of the developed countries in these regions are early adopters of insulation materials, there is a need to replace insulation materials as use of fiberglass and stone wool will give better insulation.
“The development of eco-friendly insulation materials has created a need for increasing the use of recyclable insulation materials,” says Faisal Ghaus, Vice President of Technavio Research.
“Usage of recyclable materials is not only environmental-friendly but also helps in reducing the cost of production for insulation vendors.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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