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Insulation Market Size, Share, Trends Analysis Report, 2030GVR Report cover
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Insulation Market Size, Share & Trends Analysis Report By Product (Glass Wool, Mineral Wool, EPS, XPS, CMS Fibers), By End-use (Construction, Industrial, HVAC & OEM), By Region, And Segment Forecasts, 2024 - 2030
- Report ID: 978-1-68038-196-2
- Number of Report Pages: 171
- Format: PDF, Horizon Databook
- Historical Range: 2018 - 2023
- Forecast Period: 2024 - 2030
- Industry: Advanced Materials
Insulation Market Size & Trends
The global insulation market size was estimated at USD 65.11 billion in 2023, expanding at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2030. Rising consumer awareness pertaining to energy conservation is likely to remain a crucial driving factor for the global insulation market. Favorable regulations in a majority of regions are also expected to have a positive impact on the market growth. Additionally, increased infrastructure spending in the emerging markets of Asia Pacific & Latin America is expected to propel the insulation market growth. On the other hand, fluctuating prices of the fundamental raw materials are expected to continue to pose a challenge for market participants.
The spread of COVID-19 in the U.S. affected the growth of the engineering and construction industries. The stay-at-home instructions and social distancing mandates have slowed new and retrofit project sites in residential and commercial fields. In the U.S. insulation market, the glass wool sector accounted for the largest market share of 25.9% in 2022 and is estimated to expand at a CAGR of 6.0% over the forecast period. Glass wool is a thermal insulator consisting of flexible and knotted glass fibers which trap air inside resulting in low density. The segment was followed by mineral wool and EPS, respectively.
The high rate of industrialization, along with rapid urbanization in the emerging markets of China and India, as well as the Philippines, Malaysia, Thailand, and Indonesia, have driven the need for better infrastructure. Moreover, increasing regulatory support and rising demand for residential and industrial insulation are the factors estimated to fuel market demand over the projected period.
However, fluctuating raw material prices and strict environmental regulations are estimated to hamper the overall market growth in the coming years. The rising presence of manufacturing industries in China, India, Brazil, and Mexico is estimated to boost the demand for fiberglass insulation in industrial buildings. This trend is anticipated to boost the market growth further.
Rising demand for sustainable residential buildings due to growing population and urbanization is a recent end-use trend estimated to drive industrial growth. Furthermore, technological enhancements in thermal insulation, like vacuum insulation panels and R&D activities to advance transparent thermal insulation, are the factors estimated to create new opportunities for industrial development.
Companies in the global insulation market continuously offer extensive product portfolios to meet the current and future demands from varied customer demands in different application industries such as petrochemical, oil & gas, construction, and transportation, having significant prominence of product innovation. Moreover, strategic product development, mergers, acquisitions, a vast distribution network, and geographic expansion are expected to drive the market competition.
Market Concentration & Characteristics
Market growth stage is medium, and pace of the market growth is accelerating. The market is fragmented as various companies have evolved as major players in the production and supply of insulation products. Furthermore, with an aim to serve a large industry base, they are also trying to expand their product portfolio by focusing on developing cost effective material with enhanced properties. This is further expected to increase the competition in the market.
Insulation products are inclusive of alumina, silica, lime, reinforcing fibers, fiberglass, CMS wool, ceramic fibers, polycrystalline fiber, and others. Prominent players in the industry are aiming to achieve optimum growth by introducing enhance insulation products with the implementation of the latest technologies and product innovation. Moreover, the enhancement of characteristics of the insulating material has created a wide scope for technological improvements in the temperature insulation market.
The market is dominated by major firms and these firms have implemented mergers and acquisition as an effective strategy to expand their market offerings. Furthermore, the market is governed by various regulations including Construction Products Regulation (CPR), ETAG 004, European Standards, and American Society for Testing and Materials.
Plastic foam and wool-derived insulation materials are the most preferred choice globally owing to their superior insulation performance, vast availability, and comparatively affordable cost. However, materials such as wood fiber are used for numerous applications in spite of their high costs. Hence the threat of internal substitution is expected to remain moderate.
The end users in insulation market are mostly homeowners, building insulation contractors, and HVAC & OEM appliance manufacturers. Insulation is used in building structures such as hospitals, airports, universities, auditoriums, schools, factories and movie theaters.
Product Insights
The EPS insulation product segment led the market and accounted for more than 27.4% share of the global revenue in 2022. Expanded polystyrene is a lightweight and high-tensile plastic foam insulation made out of rigid polystyrene pellets. The product is estimated to continue its dominance over the forecast period.
The glass wool product segment is expected to expand at a CAGR of 6.4% over the forecast period. Glass wool is made of sand and has thermal and acoustic insulation properties such as low weight and high tensile strength. Removable blankets are a byproduct of glass wool and make an excellent cover for turbines, pumps, heat exchangers, tanks, expansion joints, valves, flanges, and other irregular surfaces generating heat in industrial environments.
In 2022, extruded polystyrene foam insulation (XPS) segment held a share of 9.5% of the total market revenue. The product is potentially an environmentally responsible alternative to other building insulation materials market. Moreover, stone wool occurs naturally as a byproduct of volcanic eruptions. It is highly resistant to heat transfer since it combines the capabilities of thermal insulation characteristics inherent to wool and the strength of stone.
The Aerogel segment is projected to register a CAGR of 6.5% in value over the forecast period. The product is a solid, open-celled, mesoporous foam of nanostructures interconnected in a network. Aerogel is claimed as the lightest solid material in comparison with other insulation materials. Aerogel bears many advantages, such as optimized thermal conductivity in high-temperature service, faster application on large-bore piping and vessels, quick application on large-bore piping and vessels, etc.
End-use Insights
The construction sector led the market and accounted for the largest market share of 33.3% in 2022 overall revenue. The sector is expected to grow due to the increasing number of insulation-intensive buildings in urban areas compared to rural ones. The construction sector was followed by the transportation and residential construction sector, which are estimated to expand at a CAGR of 6.9% and 6.8%, respectively. Petrochemical industries and refineries are insulated for energy conservation, heat gain/loss reduction, maintaining a uniform temperature, effective operation of equipment or chemical reaction, condensation prevention, etc.
Heating, ventilation, and cooling systems are usually insulated by employing a solution that caters to superior thermal insulation characteristics other than noise reduction and fire protection. Appliances such as refrigerators, microwaves, ovens, and water heaters require insulation to resist heat transfer and absorb sound. Dehumidifiers, air purifiers, refrigerators, washing machines, and dishwashers are some other significant appliances that require insulation.
The transportation sector, which comprises automotive, marine, and aerospace, emerged as a significant end-use segment in the global insulation market in 2022. Automakers are constantly looking to enhance the safety and comfort of vehicles, which is a significant factor driving the demand for insulation in this sector.
Regional Insights
Asia Pacific region led the market and accounted for the largest market share of 41.5% in 2022. The reason is, rising oil production in the economies of China and India and rising concerns regarding significant energy wastage coupled with the demand for materials in refurbishing and renovation. The market for insulation in North America is highly influenced by demand from oil and gas, manufacturing, metal and mining, power, and other industries, where operating temperature is high. In addition, companies in this region are focusing on reducing losses to improve their performance by practicing regular maintenance inspections.
Europe accounted for 26.6% of the total market share in 2022. The market is projected to be an early adopter of emerging insulation materials owing to the rapid industrialization and the presence of significant insulation product manufacturers in the region. The GDP of Central & South America has exhibited a slow growth rate on account of political and economic disturbances in Brazil, which is one of the leading users of industrial insulation products. The demand for insulation materials in the Middle East & Africa region is expected to be driven by the growth of the downstream petrochemical industry and rising product demand for the maintenance & repair of existing infrastructure.
Key Companies & Market Share Insights
The industry is characterized by the presence of various small- and large-scale vendors, resulting in a moderate level of concentration in the market. The surging requirement for insulation solutions is fueling the growth of the market. The market players are concentrating on new joint ventures, collaborations, agreements, and strategies to advance their production facilities and gain a larger market share.
Biesanz Stone Co. and Michigan Limestone & Chemical Company are the major limestone suppliers, while Alfa Aesar and American Borate Company supply borates. Raw material supply for foamed plastic insulation products is dominated by companies such as BASF, Bayer, and Dow Chemical Company.
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In August 2022, Owens Corning acquired Natural Polymers, LLC, which is a Cortland, Illinois-based manufacturer of spray polyurethane foam insulation for building and construction applications.
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In January 2022, Knauf Insulation acquired glass mineral wool plant in Romania. This acquisition will provide Knauf Insulation a better reach to its customers in Europe.
Key Insulation Companies:
- GAF Materials Corporation
- Huntsman International LLC
- Johns Manville
- Cellofoam North America, Inc.
- Rockwool International A/S
- DuPont
- Owens Corning
- Atlas Roofing Corporation
- Saint-Gobain S.A.
- Kingspan Group
- BASF
- Knauf Insulation
Recent Developments
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In July 2023, Kingspan Group announced its plan to acquire majority of Steico SE’s shares, a key wood fibre insulation manufacturer. The acquisition is based on regulatory clearance and is scheduled for early 2024.
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In February 2023, GAF launched its Timberline® Ultra HDZ™ shingles for efficient insulation, waterproofing, and faster installation.
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In February 2023, Saint-Gobain acquired U.P. Twiga Fiberglass Ltd. (UP Twiga), the glass wool insulation market leader in India. This acquisition is expected to consolidate Saint-Gobain’s positioning in energy-efficient and façade solutions in India.
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In September 2022, GAF announced its insulation and roofing operations expansion in Savannah, Cumming, and Statesboro in Georgia. This expansion was aimed to expand the GAF’s thermoplastic polyolefin (TPO) roofing manufacturing capabilities.
Insulation Market Report Scope
Report Attribute
Details
Market size value in 2024
USD 69.23 billion
Revenue forecast in 2030
USD 102.46 billion
Growth rate
CAGR of 6.8% from 2024 to 2030
Base year for estimation
2022
Historical data
2018 - 2023
Forecast period
2024 - 2030
Quantitative units
Volume in Kilotons, Revenue in USD Million, and CAGR from 2024 to 2030
Report coverage
Volume forecast, revenue forecast, competitive landscape, growth factors, and trends
Segments covered
Product; end-use; region
Regional scope
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; India; Japan; South Korea
Key companies profiled
GAF Materials Corp.; Huntsman International LLC; Johns Manville; Cellofoam North America, Inc.; Rockwool International A/S; DuPont; Owens Corning; Atlas Roofing Corporation; Saint-Gobain S.A.; Kingspan Group; BASF; Knauf Insulation; Armacell International Holding GmbH; URSA; Covestro AG; Recticel NV/SA; Carlisle Companies, Inc.; Bridgestone Corporation; Fletcher Building, 3M
Customization scope
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Global Insulation Market Report Segmentation
This report forecasts revenue growth at global, regional, country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global insulation market report on the basis of product, end-use, and region:
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Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
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Glass Wool
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Mineral Wool
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EPS
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XPS
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CMS Fibers
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Calcium Silicate
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Aerogel
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Cellulose
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PIR
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Phenolic Foam
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Polyurethane
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End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
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Construction
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Industrial
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HVAC & OEM
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Transportation
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Appliances
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Furniture
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Packaging
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Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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U.K.
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France
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Italy
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Spain
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Asia Pacific
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China
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Japan
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India
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South Korea
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Central & South America
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Middle East & Africa
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Frequently Asked Questions About This Report
b. The global insulation market size was estimated at USD 61.36 billion in 2022 and is expected to reach USD 65.11 billion in 2023.
b. The global insulation market is expected to grow at a compound annual growth rate of 6.6% from 2023 to 2030 to reach USD 102.47 billion by 2030.
b. EPS led the market and accounted for about 27.4% share of the revenue in 2022. Expanded polystyrene is a lightweight and high-tensile plastic foam insulation made out of rigid pellets of polystyrene.
b. Some of the key players operating in the global insulation market include GAF Materials Corp., Huntsman International LLC, Johns Manville, Cellofoam North America, Inc., Rockwool International A/S, DuPont, Owens Corning, Atlas Roofing Corporation, Saint-Gobain S.A., Kingspan Group, BASF, Knauf Insulation, Armacell International Holding GmbH, URSA, Covestro AG, Recticel NV/SA, Carlisle Companies, Inc., Bridgestone Corporation, Fletcher Building, 3M.
b. The key factors that are driving the global insulation market include, increasing regulatory support and rising demand for residential and industrial insulation are the factors estimated to fuel market demand over the projected period.
Table of Contents
Chapter 1. Insulation Market: Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Insulation Market: Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Insulation Market: Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Size And Growth Prospects, 2018 - 2030
3.3. Insulation Material Value Chain Analysis
3.3.1. Major Raw Material Trends
3.3.2. List of Key End-Users, by region
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.7. Business Environment Analysis: Insulation Market
3.7.1. Industry Analysis - Porter’s
3.7.1.1. Supplier Power
3.7.1.2. Buyer Power
3.7.1.3. Substitution Threat
3.7.1.4. Threat from New Entrant
3.7.1.5. Competitive Rivalry
3.7.2. PESTEL Analysis by SWOT
3.7.2.1. Political Landscape
3.7.2.2. Environmental Landscape
3.7.2.3. Social Landscape
3.7.2.4. Technology Landscape
3.7.2.5. Economic Landscape
3.7.2.6. Legal Landscape
3.7.3. Market Disruption Analysis
Chapter 4. Insulation Market Product Estimates & Trend Analysis
4.1. Global insulation market: Product key takeaways
4.2. Global insulation market share, by product, 2022 & 2030
4.3. Glass Wool
4.4. Mineral Wool
4.5. EPS
4.6. XPS
4.7. CMS Fibers
4.8. Calcium Silicate
4.9. Aerogel
4.10. Cellulose
4.11. PIR (Polysio)
4.12. Phenolic Foam
4.13. Polyurethane
Chapter 5. Insulation Market - End-Use Estimates & Trend Analysis
5.1. Global insulation market share, by End-Use, 2022 & 2030
5.2. Construction
5.2.1. Residential Construction
5.2.2. Non-residential & Commercial Constructions
5.3. Industrial
5.4. HVAC & OEM
5.5. Transportation
5.5.1. Automotive
5.5.2. Marine
5.5.3. Aerospace
5.6. Appliances
5.7. Furniture
5.8. Packaging
Chapter 6. Insulation Market - Regional Estimates & Trend Analysis
6.1. Insulation Market: Regional key takeaways
6.2. Global insulation market share, by region, 2022 & 2030
6.3. North America
6.3.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.2. U.S.
6.3.2.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.3. Canada
6.3.3.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3.4. Mexico
6.3.4.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4. Europe
6.4.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.2. Germany
6.4.2.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.3. U.K.
6.4.3.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.4. France
6.4.4.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.5. Italy
6.4.5.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4.6. Spain
6.4.6.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5. Asia Pacific
6.5.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5.2. China
6.5.2.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5.3. India
6.5.3.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5.4. Japan
6.5.4.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5.5. South Korea
6.5.5.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.6. Central & South America
6.6.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.7. Middle East & Africa
6.7.1. Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Insulation Market: Competitive Analysis
7.1. Key Global Player, Their Initiatives, & Their Impact on the Market
7.2. Participant Categorization
7.3. Vendor Landscape
7.3.1. List of Key Distributors & Channel Partners
7.3.2. Key Customers
7.4. Company Market Positioning
7.5. Competitive Environment
7.6. Strategy Framework
7.7. Company Listings (Overview, Financials, Product Portfolio, Strategy)
7.7.1. GAF Materials Corporation
7.7.1.1. Company overview
7.7.1.2. Financial performance
7.7.1.3. Product benchmarking
7.7.1.4. Strategic initiatives
7.7.2. Huntsman International LLC
7.7.3. Johns Manville
7.7.4. Cellofoam North America, Inc.
7.7.5. Rockwool International A/S
7.7.6. DuPont
7.7.7. Owens Corning
7.7.8. Atlas Roofing Corporation
7.7.9. Saint-Gobain S.A.
7.7.10. Kingspan Group
7.7.11. BASF Polyurethanes GmbH
7.7.12. Knauf Gips KG
7.7.13. Armacell International Holding GmbH
7.7.14. URSA
7.7.15. Covestro AG
7.7.16. Recticel NV/SA
7.7.17. Carlisle Companies, Inc.
7.7.18. Bridgestone Corporation
7.7.19. Fletcher Building
7.7.20. 3M Company
List of Tables
Table 1 Insulation market estimates & forecasts, by product 2018 - 2030 (USD Million)
Table 2 Insulation market estimates & forecasts, by product 2018 - 2030 (Kilotons)
Table 3 Insulation market estimates & forecasts, by end - use 2018 - 2030 (USD Million)
Table 4 Insulation market estimates & forecasts, by end - use 2018 - 2030 (Kilotons)
List of Figures
Fig. 1 Information Procurement
Fig. 2 Primary Research Pattern
Fig. 3 Primary Research Process
Fig. 4 Market Research Approaches - Bottom Up Approach
Fig. 5 Market Research Approaches - Top Down Approach
Fig. 6 Market Research Approaches - Combined Approach
Fig. 7 Market Outlook
Fig. 8 Segment Outlook
Fig. 9 Competitive Insights
Fig. 10 Market Segmentation
Fig. 11 Penetration and Growth Prospect Mapping
Fig. 12 Industry Value Chain Analysis
Fig. 13 Market Driver Analysis
Fig. 14 U.S. market for energy efficient HVAC equipment in residential buildings, 2022 - 2030, (USD Billion)
Fig. 15 China construction industry estimates and forecast, 2018 - 2030(USD Billion)
Fig. 16 Global crude oil prices, 2018 - 2030, (USD/Barrel)
Fig. 17 Insulation - Porter’s analysis
Fig. 18 Insulation PESTEL analysis
Fig. 19 Insulation Market: Product Movement Analysis, 2022 & 2030
Fig. 20 Global glass wool insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 21 Global mineral wool insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 22 Global EPS insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 23 Global XPS insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 24 Global CMS Fibers insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 25 Global calcium silicate insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 26 Global aerogel insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 27 Global cellulose insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 28 Global PIR (polyiso) insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 29 Global Phenolic Foam insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 30 Global polyurethane insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 31 Insulation Market: End - Use Movement Analysis, 2022 & 2030
Fig. 32 Global insulation market estimates & forecasts, in construction, 2018 - 2030 (Kilotons) (USD Million)
Fig. 33 Global insulation market estimates & forecasts, in residential construction, 2018 - 2030 (Kilotons) (USD Million)
Fig. 34 Global insulation market estimates & forecasts, in non - residential & commercial constructions, 2018 - 2030 (Kilotons) (USD Million)
Fig. 35 Global insulation market estimates & forecasts, in industrial, 2018 - 2030 (Kilotons) (USD Million)
Fig. 36 Global insulation market estimates & forecasts, in HVAC & OEM, 2018 - 2030 (Kilotons) (USD Million)
Fig. 37 Global insulation market estimates & forecasts, in transportation, 2018 - 2030 (Kilotons) (USD Million)
Fig. 38 Global insulation market estimates & forecasts, in automotive, 2018 - 2030 (Kilotons) (USD Million)
Fig. 39 Global insulation market estimates & forecasts, in marine, 2018 - 2030 (Kilotons) (USD Million)
Fig. 40 Global insulation market estimates & forecasts, in aerospace, 2018 - 2030 (Kilotons) (USD Million)
Fig. 41 Global insulation market estimates & forecasts, in appliances, 2018 - 2030 (Kilotons) (USD Million)
Fig. 42 Global insulation market estimates & forecasts, in furniture/bedding, 2018 - 2030 (Kilotons) (USD Million)
Fig. 43 Global insulation market estimates & forecasts, in packaging, 2018 - 2030 (Kilotons) (USD Million)
Fig. 44 Insulation Market: Regional Movement Analysis, 2022 & 2030
Fig. 45 North America insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 46 U.S. insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 47 Canada insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 48 Mexico insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 49 Europe insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 50 Germany insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 51 U.K. insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 52 France insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 53 Asia Pacific insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 54 China insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 55 India insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 56 Japan insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 57 South Korea insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 58 CSA insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig 59 MEA insulation market estimates & forecasts, 2018 - 2030 (Kilotons) (USD Million)
Fig. 60 Competitive Environment
Fig. 61 Company Market Position AnalysisMarket Segmentation
- Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Insulation End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Insulation Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- North America Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- North America Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- U.S.
- U.S. Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- U.S. Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- U.S. Insulation Market, By Product
- Canada
- Canada Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Canada Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Canada Insulation Market, By Product
- Mexico
- Mexico Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Mexico Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Mexico Insulation Market, By Product
- North America Insulation Market, By Product
- Europe
- Europe Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Europe Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Germany
- Germany Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Germany Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Germany Insulation Market, By Product
- U.K.
- U.K. Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- U.K. Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- U.K. Insulation Market, By Product
- France
- France Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- France Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- France Insulation Market, By Product
- Italy
- Italy Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Italy Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Italy Insulation Market, By Product
- Spain
- Spain Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Spain Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Spain Insulation Market, By Product
- Europe Insulation Market, By Product
- Asia Pacific
- Asia Pacific Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Asia Pacific Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- China
- China Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- China Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- China Insulation Market, By Product
- Japan
- Japan Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Japan Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Japan Insulation Market, By Product
- India
- India Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- India Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- India Insulation Market, By Product
- South Korea
- South Korea Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- South Korea Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- South Korea Insulation Market, By Product
- Asia Pacific Insulation Market, By Product
- Central & South America
- Central & South America Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Central & South America Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Central & South America Insulation Market, By Product
- Middle East & Africa
- Middle East & Africa Insulation Market, By Product
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
- Middle East & Africa Insulation Market, By End-use
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
- Middle East & Africa Insulation Market, By Product
- North America
Insulation Market Dynamics
Driver: Increasing regulatory support
Energy prices are growing in along with increased demand for energy in both developed and emerging nations. Insulation has been a viable remedy for this issue in recent years. Insulated homes can reduce their annual energy expenses by up to 20% since insulation lowers the costs associated with heating and cooling in the summer and the winter, respectively. Approximately 45 million American homes were found to be under-insulated in a 2016 Harvard School of Public Health study, which indicates a significant opportunity for insulation in the country. The advanced status of the building industry in the region has benefitted the re-insulation business, despite the slower rate of development in the housing sector in the U.S. Systematic insulation installation may save a building's cooling and heating expenses by up to 18%, according to a U.S. EPA study. A building can meet overall energy efficiency requirements by using spray PU foams and stiff PU foams, which are commonly used as insulation in construction to stop losses associated with heating and cooling.
Driver: Increasing demand for residential and industrial insulation
A decline in housing demand and the nation's appalling financial situation contributed to a historic decline in real estate prices in the U.S. during the 2008–09 economic slump. Recently, though, the pattern has reversed, with house prices rising in 17 of the 20 largest cities. This may have to do with the rising demand for homes in the United States, which is fuelling the expansion of the new home insulation industry. European nations, who are only now beginning to recover from the dismal economic development of not too long ago, are showing similar tendencies. Since re-insulation can transform under-insulated homes into contemporary, energy-efficient homes, the demand for residential re-insulation is a major factor driving the insulation business. The industrial sector makes extensive use of insulation, particularly for thermal and acoustic purposes. Based on the location and operational procedures, each plant has a different demand for insulation. There are several applications for insulation, including stacks, incinerators, turbines, exhausts, and breechings.
Restraint: Volatile raw material prices
Polyethylene, elastomers, and extruded polystyrene (EPS), which are components of plastic foam insulation, are petroleum-derived materials that are processed downstream. The instability in crude oil price in the worldwide market is therefore a key problem for the insulation business, as it makes it impossible to obtain an ideal pricing range for insulating products. Therefore, under very bad circumstances, there is always a chance of losing market share to other categories, such glass fiber insulation. A substantial percentage of the world’s crude oil production is centered in Middle Eastern nations such as Saudi Arabia, Iran, Iraq, the UAE, and Kuwait. The price of crude oil is largely influenced by political unpredictability in these nations. The supply-demand balance is another significant element influencing crude oil prices, which contributes to the volatile character of crude oil pricing. The price of crude oil in the United States dropped to less than USD 28 a barrel in 2016, marking the first time since 2003 that this had happened.
What Does This Report Include?
This section will provide insights into the contents included in this insulation market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Insulation market qualitative analysis
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Industry overview
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Industry trends
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Market drivers and restraints
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Market size
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Growth prospects
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Porter’s analysis
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PESTEL analysis
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Key market opportunities prioritized
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Competitive landscape
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Company overview
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Financial performance
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Product benchmarking
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Latest strategic developments
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Insulation market quantitative analysis
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Market size, estimates, and forecast from 2018 to 2030
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Market estimates and forecast for product segments up to 2030
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Regional market size and forecast for product segments up to 2030
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Market estimates and forecast for application segments up to 2030
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Regional market size and forecast for application segments up to 2030
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Company financial performance
Research Methodology
A three-pronged approach was followed for deducing the smart home market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for insulation market to gather the most reliable and current information possible.
- We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
- We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
- We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
- We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
- We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of insulation market data depending on the type of information we’re trying to uncover in our research.
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Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
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Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
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Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
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Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
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Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
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Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
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This step also entails the finalization of the report scope and data representation pattern.
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Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
Insulation Market Categorization:
The insulation market was categorized into three segments, namely product (Glass Wool, Mineral Wool, EPS, XPS, CMS Fibers, Calcium Silicate, Aerogel, Cellulose, PIR, Phenolic Foam, Polyurethane), end-use (Construction, Industrial, HVAC & OEM, Transportation, Appliances, Furniture, Packaging,), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
Segment Market Methodology:
The insulation market was segmented into product, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Market research approaches: Bottom-up
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Demand estimation of each product across countries/regions summed up to from the total market.
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Variable analysis for demand forecast.
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Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
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Primary interviews for data revalidation and insight collection.
Market research approaches: Top-down
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Used extensively for new product forecasting or analyzing penetration levels.
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Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
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Primary interviews and vendor-based primary research for variable impact analysis.
Market research approaches: Combined
- This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.
Regional Market Methodology:
The insulation market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twelve countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; France; Italy; Spain; China; India; Japan; South Korea.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
Insulation market companies & financials:
The insulation market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
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GAF Materials Corporation - As a manufacturer and supplier in the building material sector, GAF Materials Corporation is a division of Standard Industries. The firm has a large market share in North America and offers roofing and other construction goods for both residential and commercial use. The firm offers a range of roofing shingle solutions and products, including lifetime roofing systems, slate roofing, designer roofing, architectural roofing, 3-tab shingles, attic vents, and roof ventilation, through its residential roofing shingles and accessories sector. The firm offers a variety of goods and services for commercial buildings, including adhesives, primers, sealants, built-up roofing, modified bitumen roofing materials and systems, flat roofing systems, and asphaltic accessories. Additionally, the organization also gives solutions concerning ducting, fibre-cement siding, non-woven textiles, decorative iron, pavement coatings, and polyiso-insulated sheathing. Glass fibre-reinforced cellulosic felt facers connected to a core of closed-cell polyisocyanurate foam are produced and marketed under the EnergyGuard name by the firm. Installing and handling the material is simple because of its low weight. Made without CFCs or HCFCs, the company uses components that have been certified by the EPA for use as blowing agents. High moisture resistance and stability are further features of the material.
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Huntsman International LLC - Publicly listed worldwide producer and marketer of specialized chemicals, Huntsman International LLC serves a range of end sectors, including home and living, construction, apparel, footwear, and energy. The business has 75 operating, manufacturing, and research and development locations spread around 30 nations. The corporation has divided its operations into five areas. The division of polyurethanes is responsible for producing comfort foam, coatings, adhesives, bedding, and furniture based on MDI. The company is divided into four divisions: performance products, which produces products based on amines, carbonates, maleic anhydride, and surfactants; advanced materials, which oversees the production of technologically advanced epoxy, acrylic, and polyurethane-based polymer products; textile effects, which offers textile dye, digital ink, and chemical solutions; and pigments and additives, which produces and sells titanium dioxide pigments, functional additives, timber, and water treatment chemicals.
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Johns Manville - the Manville Covering Company and the H.W. Johns Manufacturing Company merged to establish the American firm known as Johns Manville in 1901. Owned by Berkshire Hathaway, the parent company, Johns Manville produces materials, mechanical insulation, commercial roofing, and insulation for residential and commercial use. These products are used in end-use markets like building insulation, waterproofing, automotive, and aerospace. The company purchases about 49,000 technical and material items from close to 9,000 vendors worldwide, managing its operations via three sectors: engineered products, commercial roofing, and insulation systems. End-use markets for these items include wind energy, interiors, flooring, building, waterproofing, filtration, pipe and equipment, HVAC, commercial/residential construction, appliance, transportation, automobile, and aerospace. There are 44 production locations spread across the United States, Canada, Germany, Slovakia, and China that oversee the company's activities. The production of insulating goods is carried out at Phoenix City, Tucson, Willows, Innisfail, Fruita, Brunswick, Winder, McPherson, Ruston, Belgrade, Edison, Penbryn, Defiance, Cleburne, Houston, and Richmond.
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Cellofoam North America, Inc. - Cellofoam North America, Inc. produces copolymer plastic foams, polyurethane, polyethylene, and molded and fabricated expanded polystyrene (EPS). These foams are used as precursors in end-use products like temperature-controlled packaging, protective packaging, and insulation and building applications. Along with bespoke rotational molded goods, the firm also produces a variety of maritime flotation equipment. Thirteen manufacturing facilities, carefully positioned as follows, make up its logistical network: 3 facilities in Conyers; 2 facilities each in Fredericksburg, Greenwood, and Sallisaw; and 1 each in Gainesville, Orlando, Falmouth, and Winchester. The business has invested heavily in new rotational molding equipment to support the expansion of its custom rotomolded product line, which includes bollard covers, equipment covers, plastic moldings, plastic tanks, and flotation devices.
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Roxul Inc. - As a part of Rockwool Group, Roxul Inc. operates 21 plants in North America, Europe, and Asia. Via three specialized facilities, the firm provides industrial and technological solutions as well as cutting-edge building insulation. Since November 1999, it has been operating out of Grand Forks, British Columbia, on the western side. The company's stone wool insulation products are the mainstay of the North American market. The firm is a member of the U.S. Green Building Council (USGBC), promoting environmental responsibility and sustainability, and its products have gained GreenGuard’s highest demanding accreditation for indoor air quality. Additionally, the company provides knowledge on building and construction, such as technical support for "Building Science," which gives specifiers, designers, and architects more cognitive resources for their projects. Calculation tools like the materials calculator, effective R-value calculator, and LEED calculator are also provided by the firm.
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Dow Building Solutions - A Part of Dow Chemical Company's infrastructure solutions business, Dow Building Solutions is a subsidiary that produces and distributes building materials, polymers, chemicals, and biological products globally. The other building and construction-related businesses of The Dow Chemical Company, such as Dow Building & Construction, Dow Coating Materials, energy and water solutions, performance monomers, and infrastructure solutions - silicones, have joined forces to form the infrastructure solutions business division. Dow Building & Construction is further separated into two categories, Dow Building Solutions and Dow Construction Chemicals. In addition to advanced wall enclosures, the company offers a wide range of solutions for a variety of end uses and applications, including retrofitting into existing constructions, tilt-up and precast for the commercial construction market, smart building, multifamily building expertise, geometrically advanced buildings for residential construction, geotechnical installations for infrastructural necessities, boat solutions and floating structures for the marine sector, and refrigerated trucks, caravans, and motorhomes for the transportation sector.
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Owens Corning - Owens Corning is mainly a glass fibre producer and also produces reinforcements for composite systems and residential and commercial construction materials. Roofing, composites, and insulation are the three business segments in which it works. For acoustic and thermal uses, the insulation section produces and provides fibreglass insulation to industrial, commercial, and residential builders. Foam, bonded and granulated mineral wool insulation, fibreglass pipe insulation, and flexible duct media are other products in the insulation industry category. The firm supplies its goods for new home building, renovation and repair projects, and commercial and industrial construction projects. Under the brand name Owens Corning PINK FIBERGLAS Insulation, the firm sells loosefill insulation, foam sheathing, acoustical and thermal batts, and accessories. In addition, glass fibre pipe insulation, duct media, bonded and granulated mineral fibre insulation, and foam insulation for above- and below-grade building applications are produced and sold by its Insulation section. Its main customers in the US and Canada include insulation installers, home centres, lumberyards, merchants, and distributors.
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Atlas Roofing Corporation - Atlas Roofing Corporation is a manufacturer of construction supplies for residential and commercial constructions. The company’s business is separated into four segments, viz. atlas roof and wall insulation, atlas roof shingles and underlayment, atlas web technologies, and atlas EPS. Using 24 locations spread across North America, the corporation manufactures its goods and maintains global distribution networks. In addition to tapered and nailable boards, Atlas provides the full line of polyiso insulating boards. With eight production sites spread across Canada and the United States, the firm boasts over thirty years of experience in the polyiso manufacturing industry. State of Florida Product and California State Insulation Quality Standards approval certificates have been acquired by the firm. The Microbial Certification, GreenGuard Gold Certification, and other environmental protection criteria are met by the products of Atlas Roofing Corporation.
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Saint-Gobain S.A - A multinational company, Saint-Gobain S.A. is a building and high-performance material maker, fabricator, and distributor. Four business segments comprise the company: construction goods, building distribution, innovative materials, and Verallia packaging materials. The company's construction products include both indoor and external solutions for increased comfort. Plasterboard and plaster goods, ductile cast iron pipe systems, external products, plasterboard recycling services, and insulation materials are among the products manufactured by this division. Within the company's construction division are brands such as CertainTeed Corporation, ISOVER, Weber, PAM, Gyproc, and Placo.
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Kingspan Group - Kingspan Group and its subsidiaries provide building solutions for the construction industry in Europe, the Americas, and beyond. Five divisions comprise its primary operations: Light and air, Access Floors, Insulated Boards, Insulated Panels, and Environmental. Located in the United Kingdom, Kingspan Insulation Ltd is a part of Kingspan Group that specializes in producing rigid insulation materials with excellent performance as well as insulated systems for building fabric and building services applications. The products of the firm find several uses, including ducting in building services, hollow walls, solid walls, pitched roofs, and dry lining. The company’s Wales-based insulated panel factory is among the biggest in the world.
Value chain-based sizing & forecasting
Supply Side Estimates
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Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
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Segment revenue determination via variable analysis and penetration modeling.
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Competitive benchmarking to identify market leaders and their collective revenue shares.
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Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
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Identifying parent markets and ancillary markets
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Segment penetration analysis to obtain pertinent
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revenue/volume
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Heuristic forecasting with the help of subject matter experts
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Forecasting via variable analysis
Insulation Market Report Objectives:
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Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
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Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
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Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 20222, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
Insulation Market Report Assumptions:
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The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
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The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
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We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
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All market estimates and forecasts have been validated through primary interviews with the key industry participants.
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Inflation has not been accounted for to estimate and forecast the market.
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Numbers may not add up due to rounding off.
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Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
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Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
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Latin America includes Central American countries and the South American continent
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Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
Primary Research
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
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Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
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Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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