According to the latest report from the IMARC group, entitled “insulation market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, the global market reached a value of US$50.3 billion in 2021. Insulation represents a thick substance deployed to eliminate the transmission of electricity, sound, and heat in physical spaces. It involves various low thermal conductivity components including pipes, covers, panels, and foams that are generally accessible in mineral wool, polyethylene, and polystyrene types of materials. Insulation helps conserve non-renewable resources, mitigate corrosion, moisture condensation and carbon footprint, and promote minimal energy consumption. Therefore, they are widely employed in industrial and residential areas.
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Increase in construction activities, along with growing need to optimize machine performance and make manufacturing processes more efficient are majorly driving the growth of the global insulation market. Additionally, growing environmental concerns have prompted governments in various countries to implement favorable policies that promote the adoption of insulation materials, which further contributes to energy conservation and sustainable development. Additionally, the increasing incorporation of thermal insulation in heating, ventilation, and air conditioning (HVAC) systems to minimize energy consumption, ensure optimum environmental temperature, and prevent the risk of condensation is also propelling the growth of the Marlet. In addition, large financings in industrial infrastructure and growing demand for cold storage units in the food and beverage (F&D) industry are contributing to the growth of the market. Looking ahead, IMARC Group expects the insulation market to reach US$69.4 billion by 2027 growing at a CAGR of 5.4% during the period 2022-2027.
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Like the new coronavirus (COVID-19[female[feminine) the crisis is taking over the world, we are constantly monitoring the changes in the markets, as well as the behaviors of the consumers of the sector in the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
Competitive landscape with key players:
- Knauf insulation
- John Manville
- 3M Company
- Owens Corning
- Saint Gobain
- Kingspan Group
- Rockwool Group
- Atlas Roofing Corporation
- BASF Polyurethanes
- Byucksan Company
- Bridgestone Corporation
Breakdown by type of material:
- Mineral wool
- Glass wool
- Calcium silicate
Breakdown by function:
Breakdown by form:
Breakdown by end-use industry:
- Industrial and factory equipment
- HVAC equipment
- Transport equipment
Breakdown by region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market trends
- Market drivers and success factors
- Impact of COVID-19
- Value chain analysis
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.
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European acetic acid market: https://www.imarcgroup.com/europe-acetic-acid-market
Indian Acetic Acid Market: https://www.imarcgroup.com/india-acetic-acid-market
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