Global demand for insulation has been on the rise. It is rising year on year on account of the following-
- Residential constructions which are on the rise: There has been a sustained growth in the residential building construction year on year. These residential construction jobs are the highest drivers of demand in the global insulation need. In NA, residential construction market is driving up the growth by almost 4 percent per annum when it comes to the R-1 value. Besides, even in Western Europe, the construction of buildings are forecasted to accelerate through the year 2020 which would boost insulation sales. Thus, thanks to the increase in construction activity in many parts of the world, insulation sales are also growing.
- Greater activity is happening in the non-residential & manufacturing industries: There has also been a steady rise in the non-residential buildings being developed. Due to the recent green initiatives taken by many countries, the demand for insulation is on the rise. There has also been an increase in the output of manufacturing, appliances and HVAC system activity. This is pushing up the demand for industrial, HVAC & OEM markets insulation.
Why is there a rise in the construction activity?
There has been a rise in the construction activity due to migration. There has been a high rate of migration from rural to urban areas in pacific/ Asia/ Africa and Mideast. As the migration increases, so does the demand for construction, thus pushing up the demand for insulation. Besides, there has also been a rise in the per capita incomes of the families which is leading to increased use of modern techniques for building, thus pushing up the demand for insulation.
Which insulation type gives the biggest Push
Of all the important insulation types available in the market, foamed plastic has been found to be posting the highest growth. And even in the coming years, it will continue posting a faster growth as it is used more frequently in the construction sector. This material offers higher insulation values over its alternatives which helps it capture the share from mineral wool insulation and fiberglass. Coming at close second is fiberglass insulation. This material is extensively used in the residential construction activity in North America. Mineral wool insulation products are expected to post the slowest growth amongst all the major insulation types. However, it is expected that they would continue to grow on account of the growing demand from China, where safety from fire is still a big concern.
This is what the forecast is going to be for insulation till 2020. The study and the facts which are presented are done keeping in mind the regions of the world and their usage pattern. The sorts of materials utilized are also given a priority. This study also includes key market environmental factors, industry structures, company market shares and the profiles of industry players like Rockwool, CSR Limited, Owens Corning and Fletcher Building. To know more, log on to https://www.insulation4us.com/ and find out answers to your questions, whether they are related to this or more.