Insulation Market Size to Reach USD 79.06 Billion by 2026; Increasing Consumer Awareness about Energy and Environmental Conservation Will Favor Growth

The global insulation market size is anticipated to reach USD 79.06 billion by 2026, attributable to the rise in demand for cold storage units for food preservation and the substantial investments in industrial infrastructure worldwide. This information is presented in a recently published report by Fortune Business Insights™ titled, “Insulation Market Size, Share & Industry Analysis, By Material (Mineral Wools {Glass Wool, Stone Wool}, Foamed Plastics {Expanded Polystyrene [EPS], Extruded Polystyrene [XPS], Polyurethane [PU], Polyisocyanurate [PIR], Others}, Cellulose, Aerogels, Others), By Application (HVAC & OEM, Transportation, Packaging, Building & Construction, Others), and Regional Forecast, 2019-2026,” According to this report, the value of the market was USD 55.16 billion in 2018 and is expected to rise at a CAGR of 4.6% from 2019 to 2026.

Collaborative Agreement Signed between ITW Insulation Systems and Johns Manville (JM) to Aid in Expansion of Market

The Berkshire Hathaway manufacturer of building products Johns Manville (JM) acquired ITW Insulation Systems by signing an agreement for offering expanded insulation solutions to the industrial market in November 2019. The CEO and President of KM, Mary Rhinehart, said, “this acquisition is likely to give JM a versatile platform and expand our product portfolio at a rapid pace.” ITW Insulation Systems is a business owned by Illinois Tool Works Inc. and is popular in the building and construction industry for its premium quality low-temperature polyisocyanurate foam jacketing solutions and insulations. Such collaborative ventures are expected to aid in the expansion of the market in the forecast duration.

To Get the detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/insulation-market-102423

Rise in Demand from Food and Beverage Sector to Help Market Gain Momentum

The increasing demand for insulation from vehicle manufacturers is a crucial factor in promoting insulation market growth. In addition to this, the need for reducing carbon footprint from buildings and heat transfer between adjacent environments for maintaining the interior temperature of the building is projected to aid in the expansion of the market. Furthermore, rapid industrialization and the need to install insulation systems in commercial buildings for conserving energy will also help attract high insulation market revenue in the forecast period.

On the contrary, factors such as health concerns related to some insulation products such as glass wool may pose a significant threat to the overall insulation market growth. Nevertheless, the rise in demand for cold storage buildings from the food and beverage industry to preserve food is likely to create lucrative growth opportunities for the market in the long run.

Merger and Acquisition Strategies Adopted by Players to Intensify Market Competition

Players functioning in the insulation market are emphasizing on product portfolio and are therefore investing massively on research and development of sustainable alternatives to traditional building materials. Companies are focusing on improving operational efficiency and are thus adopting strategies such as merger and acquisitions, contracts and agreements, acquisitions and partnerships, and others to gain momentum in the market. Besides this, companies are trying to provide quality services as per the customer’s needs and aiming to attain a reputable position in the market. Additionally, stringent regulations imposed by the government on environmental protection and control of carbon footprint are significant objectives set by players. Furthermore, manufacturers such as Thermtest Inc. and Element Materials Technology are offering measurement services for insulation resistance to consumers for ensuring that the environmental regulations are being followed strictly.

Key Industry Developments of the Insulation Market are:

• December 2019 –Huntsman acquired the manufacturer and distributor of spray polyurethane foam (SPF) insulation systems, Icynene-Lapolla, for USD 350 million for strengthening their energy-saving insulation business.

List of Best Manufacturers in Insulation Market includes:

• DuPont


• Owens Corning


• Atlas Roofing Company


• Beijing New Building Material (Group) Co., Ltd.


• PT. Bondor Indonesia


• Huamei Energy-saving Technology Group Co., Ltd.


• Kaneka Corporation


• Kingspan Insulation LLC


• Luyang Energy-saving Materials Co., Ltd.


• ROCKWOOL International A/S


• GAF


• Reciticel Group


• Firestone Building Products


• K-FLEX S.p.A.


• Huntsman International LLC


• Bridgestone Chemitech Co., Ltd.


• Sound Seal


• Ursa


• Superglass Insulation Ltd.


• U.P. Twiga Fiberglass Limited


• NICHIAS Corporation


• Lloyd Insulations (India) Limited


• KCC Corporation


• Johns Manville


• BYUCKSAN


• Evonik


• Armacell S.A.


• Knauf Insulation


• Cellofoam North America Inc.

Further Report Findings

• Asia Pacific is holding the dominant insulation market share on account of the rapid development of the economic powerhouse that strongly emphasizes on infrastructural development. However, North America generated an insulation market revenue of USD 12.8 billion. The current insulation market trend of zero-energy-buildings policies will further help North America and Europe market witness significant shares in the forecast period.


• Based on application, the market is the transportation segment is anticipated to emerge as the fastest-growing segment. In 2018, This segment earned a 14.3% share in the market. Automotive body parts are manufactured with the help of insulating materials to maintain the ambient temperature of the interiors of the vehicle.

The Global Insulation Market is classified into: