Global Thermal Insulation Materials Market to Expand at a Steady CAGR during 2015-2020

Thermal Insulation Material

To curb the temperature of heat energy outflow from high to low, thermal insulation materials are applied. By retarding the temperature range, materials for thermal insulation preserve energy. Besides, these materials also regulate surface temperature to provide protection and comfort to the working personnel. Most of the industries are employing these thermal insulation materials for reducing energy applications. Devoid of extra heating or cooling tools, these materials are used to maintain an area with a preferred temperature. Additionally, construction industry is the primary focused area of thermal insulation materials’ application. In this industry, these thermal insulation materials are utilized to regulate an average temperature between 1°C and 100°C.

In an on-going study by Future Market Insights (FMI), the global market for thermal insulation materials is expected to witness a stable CAGR of 4.2 % over the forecasted period, 2017-2027 to justify US$ 53,286.81 Mn by 2020. The report is estimating comprehensive development through the forecast period on the global thermal insulation materials market. Besides, this study is analyzing a wide-range of factors that are driving the global approval of thermal insulation materials.

Global Thermal Insulation Materials Market: Dynamics

The report is highlighting on some factors such as producing industry output, building industry spending, urbanization trend and construction sector output are macro-economic drivers that are influencing the global market for thermal insulation materials through 2020. In regard to buildings with energy capacity, some principles have already been introduced by developed regions include Europe and North America. Concerted action energy performance of buildings stated that most of the constructed buildings in countries of UK region must obey the zero-energy criteria by 2020. Besides, the support from the governments for promoting the applications of thermal insulation materials is influencing the market to grow rapidly. With the expectation to decrease the expense, to curb energy usage & to employ materials for green buildings, Andhra Pradesh in India (Asia-Pacific region) has accepted Energy Conservation Building Code (ECBC).   

Global Thermal Insulation Materials Market: Key Segmentation

As per FMI analysis, the global market for thermal insulation material is segmented into material type, temperature range and regional insights. Depending upon some materials such as plastic foams, stone wool, fiberglass and other thermal insulation materials, the market is segmented. Temperature range between 1°C and 100°C for thermal insulation material application is predicted to observe the highest growth through 2020. To store cryogenic gases, thermal insulation material is applied with the temperature range between −160°C and −50°C. Cryogenic gas is anticipating to influence the demand for thermal insulation material in some developing countries include Asia-Pacific region due to growing demand for LPG.    The research is also developing a wide-ranging regional analysis on the forecasted expansion of global thermal insulation material market. Based on the regional segmentation, the global market for thermal insulation material has seven provinces includes North America, Latin America, Middle East & Africa, Asia-Pacific except Japan, Eastern Europe, Japan and Western Europe

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