Global Insulation Market by Product (Fiberglass, Foamed Plastic, Mineral Wool), by Application (Residential Buildings, Non-Residential Buildings, Industrial, Hvac & Oem) Expected to Reach Usd 67.16 Billion by 2020: Grand View Research, Inc

The global market for insulation is expected to reach USD 67.16 billion by 2020, according to a new study by Grand View Research, Inc. Growing awareness towards building energy efficient homes especially in Asia Pacific and Latin American countries coupled with growth in global construction market is expected to remain a key driving factor for the market over the forecast period. However, volatile pricing nature of key raw material is expected to hamper the market growth over the next six years.

Fiberglass emerged as the leading product segment and accounted for 43.9% of total market revenue in 2013. Fiberglass along with being the largest segment is also expected to be the fastest growing insulation product at an estimated CAGR of 9.1% from 2014 to 2020. Fiberglass was closely followed by foamed plastic, with market revenue estimated to reach USD 26.96 billion by 2020.

The report “Insulation Market By Product (Fiberglass, Foamed Plastic, Mineral Wool), By Application (Residential Buildings, Non-Residential Buildings, Industrial, HVAC & OEM) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/insulation-market

Further key findings from the study suggest:

• With increasing awareness for energy efficient homes, applications in residential construction emerged as the most dominant segment and accounted for over 50% of total market revenue in 2013. In addition to being the largest application, residential construction is also expected to be the fastest growing application segment, at an estimated CAGR of 10% from 2014 to 2020. Global demand for insulation products in non-residential applications is expected to exceed USD 16 billion by 2020, growing at an estimated CAGR of 7.9% from 2014 to 2020.
• Asia Pacific emerged as the leading the regional market for insulation and accounted for 41.8% of total revenue in 2013. Emerging real estate...