Market Demand For Flexible Insulation Materials Will Exceed $ 10.8 Billion In 2021
A report released by market research company MarketsandMarkets shows that the size of the flexible insulation material market was US $ 7.77 billion in 2015 and is expected to reach US $ 10.84 billion by 2021, with a compound annual growth rate of 5.54%.
Increasingly stringent building codes in Europe, North America, the Middle East and Africa are expected to drive market demand for flexible insulation materials. In addition, increasing demand for flexible insulation materials such as thermal, acoustic and electrical insulation is driving this market.
Flexible insulation materials can generally be divided into glass fibers, elastomers, and other (including aerogels, cross-linked polyethylene). Among them, glass fiber will occupy the largest market share. The growing global demand for green buildings and greenhouse gas emission reductions provides an excellent opportunity for the development of fiberglass materials. In addition, applications such as cavity wall insulation, heating and ventilation, and air-conditioning pipe thermal insulation, flexible vents, jet engine ducts, aircraft components, and commercial buildings all have huge demands for fiberglass.
"In 2016, thermal insulation materials accounted for the largest share of the flexible insulation materials market"
According to type estimates, the value and quantity of thermal insulation materials in 2016 accounted for the largest share of the flexible insulation material market, mainly due to the increasing awareness of energy saving. In addition, the growth of the construction and heating, ventilation and air conditioning industries in North America, the Middle East, Africa and Asia Pacific is expected to drive demand for flexible insulation materials.
"Europe is the largest market for flexible insulation materials"
The European region led the global flexible insulation market in 2015. European interest in improving building efficiency has become increasingly apparent, and related policies have also raised higher demand for insulation materials. In addition, German homes and French commercial establishments are increasingly using flexible insulation materials.
The main market participants in the report are Saint-Gobain (France), Alles (Luxembourg), BASF (Germany), Johns Manville (USA), Owens Corning (USA), Knauf Insulation (USA), Continental (Germany), Kingspan Group (Ireland), Dow Corning (USA), Superlon Holdings (Malaysia), LISOLANTE K-FLEX (Italy), Fletcher Building (New Zealand), KCC (Korea), Thermaxx Jackets (USA), Beijing New Building Materials Co., Ltd. (China ), Pacor (USA), Thermaflex International Holding (Netherlands), Nichias Corporation (Japan), ALP Group (India), ALTANA (Germany), Cabot Corporation (USA), Aspen Aerogels (USA), Trocellen (Germany), Aeroflex ( Switzerland) and Sekisui Pilon (Australia).