Global Insulation Market Propelled by Demand for Eco-friendly Construction

Insulation materials are poor conductors of energy used to sequester the energy emitted by an object or to prevent energy from affecting the object. Three types of insulation are particularly important in the global market: thermal insulation, acoustic insulation, and electrical insulation. Due to their ability to sequester energy and prevent the inflow and outflow of energy, insulation materials have attained an important place in today’s environmentally conscious world. They are commonly used in residential and nonresidential construction to minimize the amount of heat lost to the surroundings and to minimize the noise leaving the construction.

Due to the booming global construction industry, the global insulation market is expected to rise from a valuation of US$37.8 bn in 2013 to a value of US$64.9 bn in 2020. This represents a stellar 8% CAGR for the global insulation market.

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Rising Emphasis on Green Construction Drives Global Insulation Market
The global insulation market is propelled mainly by the growing application of the property of insulation materials to reduce the amount of heat lost from a building. This helps cut down on the costs of warming up the building. Since HVAC constitutes a major part of the total expense of maintaining a building, the reduction in the amount spent on heating adds up to a considerable saving over time. The rising acknowledgement of this benefit has resulted in the growing usage of insulation materials in green construction, which is an emerging mode of architecture that focuses on minimizing the amount of energy consumed within the building.

The rising construction industry in booming Asia Pacific countries such as China, India, Japan, South Korea, Indonesia, Thailand, etc. is replete with construction companies making an effort to make their projects as environmentally viable as possible. The steady growth in the number and stringency of regulations mandating the usage of environment-friendly features in new construction has thus helped the Asia Pacific market for insulation massively. The Asia Pacific market for insulation held a 41% share in the global insulation market in 2013, and is expected to remain the leader in the market in the forecast period.

The demand for insulation materials in North America and Europe is mainly comprised of demand to retrofit insulation materials into existing constructions. Rising environmental awareness in these developed regions has helped the insulation market gain government support in the form of supportive regulations and tax cuts.

Fiberglass Insulation Leads Demand from Global Insulation Market
Of the major product segments of the global insulation market - cotton wool, slag wool, plastic foam, fiberglass, and mineral wool - the demand for fiberglass comfortably led the global insulation market. Fiberglass insulation accounted for a massive 42% of the global insulation market in 2013.

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Many types of insulation materials are, ironically, not environmentally viable when used on a large scale, since they are not biodegradable. The demand for environment-friendly insulation materials is expected to be a major feature of the global insulation market in the coming years and major R&D in the insulation industry is focused on discovering or synthetically creating an eco-friendly insulation material.

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