Global energy efficient materials market is expected to observe significant growth over the next seven years owing to increasing energy consumption in building & construction industry. These are used for improving energy efficiency and utilization in buildings and other construction structures. They offer thermal insulation by preserving indoor heat and cold during winters and summers respectively. This is expected to bolster the industry progress over the forecast period especially in the mature economies of Europe and North America on account of colder climates across most of its countries. Energy efficient materials include effective window insulations and lighting systems providing heat isolation. There are various rebates, tax credits and other incentives given by various governments including U.S. and EU nations to encourage usage of these materials by builders and construction companies. These aforementioned factors are anticipated to drive the market growth over the foreseeable future. Stringent government and environment regulations regarding material quality and specifications are anticipated to hinder product demand. EU regulations include Construction Products Regulation (CPR), REACH and waste directive, SVHV consultation along with EPA norms in U.S. Increasing consumer disposable income coupled with improving living standards in emerging economies of BRICS and South East Asia are presumed to open new avenues for industry participants and provide them with immense growth opportunities.
On the basis of product type, energy efficient materials have been segmented into polyisocyanurate, extruded polystyrene, expanded polystyrene, fiberglass, cellulose and mineral wool. Fiber glass was the dominant product segment in 2014 and the trend is anticipated to continue over the forecast period owing to superior properties such as excellent thermal insulation, stability and durability. Fiber glass is mostly used in windows and has the ability to withstand harsh weather and all the other elements preventing rusting, corrosion, splitting, warping and rotting. Extruded polystyrene is very effective in resisting moisture, convective currents and air infiltration. These properties are projected to augment their demand over the foreseeable future. Wool material is expected to witness considerable progress on account of its static and dirt resistance, noise reduction ability and natural, renewable nature.
Europe energy efficient materials market witnessed the highest penetration in 2014 and is expected to observe significant progress over the forecast period owing to favorable regulatory scenario encouraging the usage of these products. Countries such as UK, Germany, and Switzerland are projected to be the leading consumer markets in the region with countries such as Romania and Belgium showing considerable development over the foreseeable future. North America is anticipated to observe substantial industry growth on account of increasing investments in R&D associated with innovative product development in the region. U.S. is presumed to be the frontrunner in the region on account of widespread consumer awareness regarding the usefulness of these materials. Asia Pacific energy efficient materials market is expected to provide maximum growth opportunities to industry participants over the forecast period with countries such as China, India, Japan and Malaysia leading the industrial growth. Economic developments coupled with increasing consumer disposable income have improved living standards considerably in these countries. This has in turn led to shifting consumer preferences towards comfort oriented and eco-friendly products which are expected to augment energy efficient materials demand over the foreseeable future.
Major players operating in the global energy efficient materials market include PPG industries, AGC, NSG, Saint-Gobain, Cornerstone Industrial Mineral Corporation and Australian Perlite Pty Ltd. Other industry participants include BASF, World Minerals Inc., Loyal Group, LG Chem, INEOS Group, Asahi Fiber Glass Co Ltd., Solvay SA, Ameron International Corp and China Fiberglass Co. Ltd. Innovative product development satisfying environment and government regulations is anticipated to major strategy followed by industry participants over the forecast period to increase their market presence. M&A, JV’s and product line expansion are presumed to be other key strategies followed by major players to increase their market share over the foreseeable future. Additionally, establishing effective distribution channels along with innovative marketing strategies with substantial social platforms usage is expected to increase the industry share by major players over the next seven years.
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