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      Building Insulation Materials Market Size Forecast to Reach $26 Billion by 2026

      admin by admin
      February 5, 2022
      in Press Releases
      Phototherapy Equipment Market Size Forecast to Reach $1.2 Billion by 2026
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      (EMAILWIRE.COM, February 01, 2022 ) Building Insulation Materials market size is forecast to reach US$26 billion by 2026, after growing at a CAGR of 5% during 2021-2026. The market is growing because of the extended demand for, rising infrastructure, and industrialization globally. Building Insulation is an important economic and environmental investment, as installing thermal insulation, buildings use less energy for heating and cooling thus occupants experience less thermal variability. Insulating concrete forms (ICFs), used to hold fresh concrete that remain in place permanently to provide insulation, and energy efficiency. Developing countries are heavily investing in infrastructure and industrialization, as developed countries broke the poverty cycle by industrializing rather than focusing on agriculture and other industries. This aids in the growth of the Building Insulation Market.

      COVID-19 Impact

      Due to the COVID-19, many Building insulation materials manufacturing companies shut down due to lockdown restriction, cross border import export restrictions, till receipt of further directions from the government authorities. There has been a significant undersupply of housing globally to match demand. This created a major opportunity for investors and developers to adopt innovative construction technologies and partnerships in order to accelerate development. However, production at certain manufacturing companies’ plants later resumed, which is a positive signs. Residential Constructions are increasing due to increased population globally, thus the market is expanding rather than experiencing minor economic disruptions.

      Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=11675

      Report Price: $4500 (Single User License)

      Building Insulation Market Segment Analysis – By Type

      The Polystyrene segment held the largest share of 30% in the Building Insulation Materials Market in 2020.Among the many types of plastics, Polystyrene (PS) foam is a lightweight, rigid plastic insulation material, and is widely recognized as the most immediate and affordable means to fight climate change. Polystyrene also is made into a foam material, called expanded polystyrene (EPS)has no global warming potential as the material does not decompose at the end of its life and it does not release any ozone-depleting substances. The plastic insulation materials were compared to mineral wool and glass foam, with the result that on average plastic insulation materials consume 16 % less energy and produce 9% less GHG emissions than the alternative mix of mineral wool and glass foam. Polystyrene Insulation enable significant energy savings during their entire lifecycle. For example, the energy needed to produce the panels is offset by the energy savings recovered during their first four months use. In fact, across their total life cycle, Polystyrene Insulation boards save 150 times more energy than is needed for their production.

      Rigid insulation panels made from polyurethanes are light but strong, moisture-resistant and easy to install. Insulation panels and other types of foam insulation can retain their energy-efficient properties for as long as the building exists. Compared to other forms of insulation polyurethane foams are much more space-efficient, allowing architects and designers to maximise use of internal spaces. Sustainable insulation aid to sustainable buildings thus boosting the infrastructure sector and aiding to the growth of Building Insulation Materials Market.

      Building Insulation Materials Market Segment Analysis – By Application

      Residential segment held the largest share in the Building Insulation Materials market in 2020 and is growing at a CAGR of 5% during 2021-2026. In US, Spending for energy efficient buildings has shown an increase in 2019,with investment in building energy efficiency across global markets increasing to USD $152 billion in 2019, an increase of 3% from 2018. However, this remains a small proportion of the USD $5.8 trillion spent in the building and construction sector. According to the U.S. Census Bureau The total Construction spending during April 2021 was estimated at a seasonally adjusted annual rate of US$1,524.2 billion .Generally, the U.S. construction industry is linked to the economic wellbeing of the country. According to the U.S. Census Bureau the Non-residential construction was at a seasonally adjusted annual rate of US$451.4 billion in April 2021.

      Building Insulation Materials Market Segment Analysis – By Geography

      North American region held the largest share in the Building Insulation Material market in 2020 up to 36%, owing to the need of thermal Insulation due to cold climatic condition and the rapid urbanization in the region. Another factor contributing to the growth of the Building Insulation Market in this area is growing population and the need to create a new eco friendly urbanization that can help achieve high-quality growth in the coming decade and create an economy based on high value-added manufacturing and services while avoiding enormous environmental costs. Globally, over 50% of the population lives in urban areas today. By 2045, the world’s urban population will increase by 1.5 times to 6 billion. 55% of the world’s population – 4.2 billion inhabitants live in cities. This trend is expected to continue. By 2050, with the urban population more than doubling its current size, nearly 7 of 10 people in the world will live in cities.

      With more than 80% of global GDP generated in cities, urbanization can contribute to sustainable growth of construction and housing sector and thus aid to expansion of Building Insulation Material Market globally.

      Building Insulation Materials Market – Drivers

      Rise in Population and Urbanization globally:

      The two causes of urbanization are natural population increase and rural to urban migration. Urbanization affects all sizes of settlements from small villages to towns to cities, leading up to the growth of mega-cities which have more than ten million people .According to the National Mission for Urban Housing, The Indian government’s ‘Housing for All by 2022’ is also a major game changer for the Building Insulation Materials market. The Mission also prescribes certain mandatory reforms for easing up the urban land market for housing, to make adequate urban land available for affordable housing. Central assistance at the rate of US$2300 (Rs.1.5 lakh) per house for EWS (Economically Weaker Section) category will be provided under the Affordable Housing in Partnership and Beneficiary-led individual house construction or enhancement. Insulation will help Buildings keep the desired temperature all the year-round, protecting it against cold in winter and excess heat in summer. Insulation is also useful to reduce noise pollution. A well-insulated house is very energy efficient and will need very little additional heating and cooling.

      Conservation Of Energy:

      Insulation is one of the most efficient ways to save energy, since it keeps it warm in the winter and cool in the summer. In fact, the Energy Saving Trust estimates that in one year a typical three-bedroom semi-detached house can save up to US$354 Billion (£310)on energy bills by installing loft and cavity wall insulation. Building Insulation leads to energy savings, which reduce the demand for fossil fuels and associated GHG emissions and other environmental impacts. It is estimated that improvements in the level of insulation of the existing building stock can reduce heating requirements by a factor of two to four.

      For countries with milder winters, where heating is still required, as is the case in many developing countries, modest levels of insulation at a reasonable cost may already reduce the heating requirements by more than half of current levels, and in addition may contribute to reducing indoor temperatures in summer. If there is no air conditioning, lower temperatures in summer improve indoor comfort, or, if air conditioning is used, lead to additional energy savings. As 10% of the energy for heating than houses built according to the local national building codes.

      Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=11675

      Building Insulation Materials Market – Challenges

      High Initial Investment Cost :

      Common barriers for Building Insulation materials are high investment costs, lack of financing options for the up-front investments, the time and effort required to undertake renovation measures in existing buildings, lacking knowledge and awareness, and split incentives .Governments in different regions of the world have introduced measures to reduce these barriers, including mandatory energy efficiency standards, building certification, voluntary labeling, and financial incentives to stimulate investments into increased insulation and other energy saving measures in buildings. Moreover governments, civil society and industry organizations use information campaigns to increase awareness and knowledge of energy saving options in buildings. In the EU the Energy Performance of Buildings Directive (EPBD) is the main regulatory framework to prescribe the use of energy labels for European buildings. In other regions such as the United States and some Asian countries, there is a stronger focus on a combination of mandatory regulation

      Building Insulation Materials Market Landscape

      Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Building Insulation Materials market. Building Insulation Materials Market top companies Johns Manville Corporation, Saint-Gobain S.A., BASF SE, Kingspan Group plc, Knauf Insulation, Inc., Owens Corning, Huntsman Corporation, Rockwool International A/S, Firestone Building Products Company, Cabot Corporation, Dow Corning Corporation, Covestro AG, URSA Insulation, S.A., Paroc Group Oy, Atlas Roofing Corporation

      Acquisitions/Technology Launches/Product Launches

      On 15th February 2021,Hira Industries has announced the launch of Aero foam NBR Lap Seal Tubes – an effective and efficient thermal insulation solution that can be installed in various residential and commercial complexes to provide corrosion protection, whilst improving safety, efficiency, and durability of the building.

      On 23rd September 2019,Demilec, Inc., a subsidiary of Huntsman Corporation and one of North America’s manufacturers of open- and closed-cell spray polyurethane foam (SPF) insulation and coatings, announced the launch of several spray foam insulation products for the Middle East market and the opening of its Spray Foam Technical Application and Training Center in Dubai.

      Related Reports:

      A. Insulation Materials Market

      https://www.industryarc.com/Research/Insulation-Materials-Market-Research-501610

      B. Extruded Polystyrene Insulation Material Market

      https://www.industryarc.com/Research/Extruded-Polystyrene-Insulation-Materials-Market-Research-501444

      For more Chemicals and Materials Market related reports, please click here



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