BUILDING THERMAL INSULATION MARKET PROJECTED TO GROW AT A CAGR OF 5.09% The market was extensively studied for important countries in Asia-Pacific along with all the leading countries, the market was also studied for China, Japan, South Korea, India, Thailand, Malaysia, Indonesia and rest of APAC
Axiom Market Research & Consulting™ added a report on APAC building thermal insulation market. The APAC building thermal insulation market is anticipated to grow at a CAGR of 5.09% for the forecast period 2019 to 2025. The Asia Pacific market is estimated and forecasted in terms of volume (KT) revenue (USD million) generated by the APAC building thermal insulation market. The market was studied for material type such as plastic foam, glass wool, stone wool and others. Based on application, the APAC thermal insulation market is categorized into roof, wall and floor. By type of construction, the APAC building thermal insulation market is segmented into, residential building and non-residential building. Moreover, the key countries considered for the study were China, Japan, South Korea, India, Thailand, Malaysia, Indonesia and Rest of Asia-Pacific.
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Growth in infrastructure investment and industrialization development is driving the market
The APAC building thermal insulation market has a developing potential owing to factor such as increasing investment in infrastructure development in developed and developing countries and rising focus on green buildings. However, lack of awareness and fluctuation in the raw material prices is anticipated to hamper the growth of APAC building thermal insulation market during the forecast period.
Glass wool segment is forecasted to grow at a faster CAGR during the projected period
Glass wool segment is anticipated to grow at a faster pace during the forecast period owing to its properties which includes low thermal conductivity, flexibility and high fire performance. Moreover, the demand for glass wool material has increasing in recent time due to rising demand from various applications like wall, floor and roof.
In 2017, the wall segment accounted for the largest market share in the APAC building thermal insulation market
By application, the wall segment accounted the highest market share in 2017 and is estimated to grow rapidly due to rising demand for energy efficient buildings and maximum loss of energy through walls in a building drive the demand for wall insulation.
The residential segment accounted largest market share in 2017
The growth of the residential segment is primarily attributed to increasing number of residential buildings in developed and developing countries like China, Japan and India and rapid urbanization. Additionally, the non-residential segment is anticipated to record the highest CAGR during the projected period.
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India is anticipated to be the fastest growing market during the forecast period 2019 to 2025
China is expected to grow at a faster pace owing to rising focus on energy conservation and environmental issues. In China, building energy consumption makes up to nearly 20.9 percent of total national energy consumption according to the National Bureau of Statistics of China. And the largest proportion of the building energy consumption is building daily energy consumption, which accounts for 80% of the national total energy consumption.
The market is extensively studied for important countries of Asia Pacific such as China, Japan, South Korea, India, Thailand, Malaysia, Indonesia and Rest of Asia-Pacific
The key competitors of the APAC building thermal insulation market include BASF SE, Saint-Gobain S.A, Owens Corning, Dow Building Solutions, Kingspan Group PLC, Johns Manville Corp, Rockwool International A/S, Paroc Group Oy, GAF Materials Corp, Beijing New Building Material (Group) Co., Ltd, Knauf Insulation, Inc. and among others
Other Related Report:
- Global Building Thermal Insulation Market: https://axiommrc.com/product/cm1811building-thermal-insulation-market/
- Composites Market: https://axiommrc.com/product/cm1805composites-market-report/
- Thermal Interface Materials Market: https://axiommrc.com/product/1338-thermal-interface-materials-market-report/
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