Insulation Materials Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $92,570 million by 2020, registering a CAGR of 6.2% during the period 2015-2022. The global insulation materials market with major revenue contributor from wires & cables application segment. Asia-Pacific holds the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
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Growth of the automotive and oil & gas industry is expected to fuel the
market growth during the forecast period. Growing use of microporous insulation
in industrial & aerospace sectors, and demand for high temperature
insulation in oil & gas sector drive the world insulation materials market.
Growing concept of green building concept are expected to offer major
opportunities to the world insulation materials market. The overall slowdown in
the construction sector and volatility in the pricings of raw materials are
expected to affect the growth of the world insulation materials market during
the forecast period.
Polyethylene is expected to be the fastest growing
type segment for insulation materials market during the forecast period as it
offers excellent insulator has a low coefficient of friction and is excellent
for guides and other moving parts. Rapid urbanization in the emerging
economies, such as India, China, Brazil, and others, have led to upsurge in
construction activities and manufacturing automobiles, which is a key driving
factor of the insulation materials market. In 2015, construction application
segment accounted for over one-fourth of the market in terms of value, and is
expected to maintain its dominance throughout the forecast period. Moreover,
upsurge in HVAC & OEM and wires & cables industry in the emerging
economies, such as India and China, drive the insulation materials market in the
Asia-Pacific region.
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Key Findings of the Insulation Materials Market:
- Insulation materials in wires
& cables application segment occupied the highest share in 2015, and
is expected to grow at a CAGR of 6.6% in terms of value during the
forecast period.
- China is the leading consumer of
insulation materials accounted for approximately one-third share of the
Asia-Pacific market, followed by Japan
- The polyethylene segment is
expected to expand with the highest CAGR of 8.2% in the type segment in
terms of value during the forecast period
- Polyurethane segment accounted
for two-fifths of the global insulation materials market in 2015.
- U.S. is the leading market for
insulation materials in the North American region, growing at a CAGR of
5.3% in terms of value during the forecast period
Asia-Pacific accounted for the largest share in the
global insulation materials market in 2015 and is expected to maintain its
leading position. This is attributable to increase in building &
construction and automotive segment and improvement in economy. China is the
fastest growing country for the consumption of insulation materials, which is
expected to continue this dominance.
The key players operating in the world insulation materials market have adopted
diverse strategies such as product launch, expansion, acquisition, joint
venture, partnership, and investment to gain competitive advantage in this
market. The prominent players profiled in this report include Saint Gobain, GAF
Materials Corporation, The DoW chemical company, BASF SE, Kingspan group PLC
and Evonik Industries AG.
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of domain concerned. Our secondary data procurement methodology includes deep
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