Market Research Reports Search Engine (MRRSE) has announced an addition to its online repository of market studies. The report, titled ‘Insulation (Fiberglass, Plastic Foam, Mineral Wool and Others) Market for Residential Construction, Industrial, HVAC & OEM, and Nonresidential Construction Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020’, is authored by Transparency Market Research.

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According to the report, the global insulation market had a valuation of US$37.8 bn in 2013. Exhibiting an 8% CAGR from 2014 to 2020, the market is expected to rise to US$64.9 bn by 2020. The rapidly rising global construction industry, particularly in emerging countries in Asia Pacific and Rest of the World, is a major factor enabling the steady growth of the global insulation market.

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The report uses reliable analytical tools such as Porter’s five forces analysis and SWOT analysis to examine historical and current data regarding the global insulation market, accrued through reputable primary and secondary sources. On the basis of the information gained from the extensive analysis, the report presents predictions for the market in general as well as the various segments of the market.

By product type, the report segments the global insulation market into fiberglass, plastic foam, mineral wool, and others such as cotton wool and slag wool. Of these, fiberglass insulation leads the global insulation market, accounting for a 42% share in 2013. Other products in the global insulation market are hamstrung by their environmental unviability, and innovation of eco-friendly insulation materials remains a promising R&D avenue for major players participating in the global insulation market.

Another aspect of environmental regulations, however, favors the growth prospects of the global insulation market. Since insulation reduces the amount of energy consumed in a complex, insulation is a crucial component of ‘green buildings.’ The rising support to green construction from governments all over the world is a major factor propelling the global insulation market. Green construction is designed to cut down on the amount of energy expended in maintaining the ambient temperature and humidity in the building, thus preventing the need for excess energy. Accordingly, residential construction emerged as the largest application segment of the global insulation market in 2013.

The rising automotive and consumer electronics industries are leading to sustained demand for electronic and automotive insulation, further driving the global insulation market.

Consistently high demand from all of the application segments of the insulation market has led to the Asia Pacific market for insulation emerging as the largest regional segment of the global market, holding a 41% share in 2013. China and India were the two largest consumers of insulation materials. The insulation market in the developed world is expected to be propped up by the demand for retrofitting and refitting of insulation in residential as well as commercial construction.

Major players in the global insulation market are Huntsman International LLC, CertainTeed Corporation, Johns Manville, The Dow Chemical Company, Atlas Roofing Corporation, and Owens Corning. These and other key players in the market are studied in the report on the basis of their financial and business profiles.

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