Increasing government activities in the field of energy saving, having a favorable impact on the thermal insulation material market

 


Introduction

Governments in most countries across the world are actively encouraging the construction of zero-energy buildings, which is driving up demand for thermal insulation materials worldwide. By 2020, all buildings constructed in EU member states shall meet zero-energy norms, according to the Concerted Action for the Energy Performance of Buildings Directive (a collaborative initiative of EU member states and the European Commission). Building energy conservation has become more strict in China and Japan in recent years.

China’s residential energy standard requires new buildings to be 65 percent more energy efficient than those constructed in the 1980s. Other APAC countries are also implementing stringent regulations for energy conservation. In 2014, the Energy Conservation Building Code (ECBC) was adopted in Andhra Pradesh, India. Under this code, commercial and public buildings in the state are expected to cut costs and slash energy use by 40%–60%.

Global Thermal Insulation Material Market Analysis By Material Type

The plastic foam segment of the worldwide thermal insulation material market is predicted to increase the most throughout the forecast period, with a moderate annual growth rate by the end of 2015.

Due to a stronger preference for this material type in the region, demand for plastic foam material is significantly higher in Asia Pacific, and is predicted to rise at a robust annual rate by the end of 2020. Increased global demand for LNG and LPG, as well as increased demand for refrigerators and air conditioners in the OEM market, are expected to propel this category forward.

By the end of 2015, annual growth in the fiberglass segment is predicted to be moderate, similar to that of the plastic foam segment. Over the predicted term, this tendency is expected to continue. From 2017 to 2020, this category is expected to rise steadily, owing to the rising demand for fiberglass thermal insulation material in North America and Europe.

The growth of this category is projected to be fueled by support from thermal insulation material market associations in these areas. This segment's growth is likely to be aided by an increase in the number of supermarkets and rising demand for packaged foods.

Cellular glass, slag wool, and other mineral materials are included in the others sector. By the end of 2015, revenue in this area is expected to grow slowly. However, between 2017 and 2020, it is predicted to increase at a moderate rate. The increasing number of FPSO and FSRU facilities in China, South Korea, and Japan is likely to boost this segment's growth.

 Market Forecast:

The market for building thermal insulation was worth USD 23.89 billion in 2016, and is expected to grow to USD 29.62 billion by 2022, with a CAGR of 3.65% from 2017 to 2022. Thermal insulation in buildings is used to reduce the amount of energy required to heat or cool a dwelling, as well as to minimize heat loss in the winter and hot air penetration in the summer. In locations with a large range of yearly average temperatures, building insulation is usually the most cost-effective strategy. The market size of the building thermal insulation market is estimated using 2016 as the base year and 2017-2022 as the forecast year in this analysis.


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