Increasing initiatives of governments across the world in the field of energy conservation to positively impact the thermal insulation material market
In most countries across the world, governments are actively promoting construction of zero energy buildings, which is increasing demand for thermal insulation products globally. According to the Concerted Action for the Energy Performance of Buildings Directive (a joint initiative of member states of the European Union and the European Commission), all buildings constructed in member states should comply with zero-energy standards by 2020. Energy conservation in buildings in China and Japan has become stringent 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
Plastic foam segment in the global thermal insulation material market is expected to exhibit highest growth during the forecast period, and is estimated to register a moderate annual growth by 2015 end. Demand for plastic foam material type is considerably higher in Asia Pacific, and is expected to represent a robust annual growth by 2020 end, owing to higher preference for this material type in the region. Growth of this segment is anticipated to be driven by increasing global demand for LNG and LPG, and also growth in demand for refrigerators and air conditioners in the OEM market.
Annual growth of fibreglass segment is expected to be moderate by 2015 end, which is relatively close to that of plastic foam segment. This trend is expected to continue over the forecast period. This segment is likely to witness steady growth from 2017 to 2020 aided by growing demand for fibreglass thermal insulation material in North America and Europe. Support from thermal insulation material market associations in these regions is expected to drive growth of this segment. Increasing number of supermarkets and growing demand for packaged food is also expected to boost growth of this segment.
The others segment includes cellular glass, slag wool and other mineral materials. Revenue of this segment is estimated to increase sluggishly by 2015 end. However, it is expected to witness moderate growth between 2017 and 2020. Growth of this segment is expected to be driven by increasing number of FPSO and FSRU plants in China, South Korea and Japan.
Manufacturers are concentrating on making thermal insulation materials lightweight by reducing the thickness
Key manufacturers of thermal insulation materials are focusing more on increasing the overall performance of materials. Application-specific materials are designed in a way to reduce assembly and overall installation time due to reduced thickness of material etc. Low thickness materials often provide benefits in material handling and also enhance the load bearing capacity of the building structures, thus enabling the designers and architects to design an efficient building structure.
OEMs are demanding lightweight thermal insulation materials such as plastic foam in order to ensure lighter weight of end-products. For instance, heavier insulation material is used in refrigerators and incurs more in terms of labor costs for installation. On the other hand, lightweight thermal insulation material requires less effort and time for installation. As a latest trend many products are undergoing miniaturization by not compromising over the performance parameters. Thus, lightweight products become a preferred choice for manufacturers for complex and high quality end product designs.
Persistence Market Research (PMR) analyzes the global thermal insulation material market for the period 2017–2020. The core objective of the report is to offer an in-depth view of the key factors impacting the global thermal insulation material market, along with analyzing the future scope and opportunities in this market. The global thermal insulation material market report has been divided into the following four parts for better understanding and assessment of the global market scenario – market analysis by material type, temperature range, and region.
A clear-cut report structure for lucid understanding
The report starts with an overview of thermal insulation material and its usage in various applications across the globe. In the same section, the report covers the global thermal insulation material market performance in terms of value. This section includes a detailed analysis of key trends, drivers, and restraints from the supply and demand perspectives.
The next section of the report analyzes the market based on material type and presents a comprehensive forecast in terms of value for the next four years. Another section of the report analyzes the market based on the temperature range within which the insulation material functions and presents an in-depth forecast in terms of value for the next three years. This report also analyzes the global thermal insulation material market in terms of region and the regions are chosen as per the given market taxonomy.
A robust research methodology for arriving at accurate numbers
The forecast presented in this report assesses the total value of the global thermal insulation material market. The starting point is sizing the current market, which lays the foundation for forecasting how the market is anticipated to shape up in the near future. Given the characteristics of the market, in-depth analysis based on supply side and demand side is taken into account. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
In addition, the report takes into consideration Year-on-Year growth to understand the predictability of the market and to identify the right opportunities across the global thermal insulation material market.
As previously highlighted, the market for thermal insulation material is split into various sub categories based on region, material type, and temperature range segments. All individual segments and sub segments have further been analyzed in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth as this detailed level of information is important for identifying key trends governing the global thermal insulation material market.
Also, another key feature of this report is the analysis of the global thermal insulation material market by its revenue forecast in terms of absolute dollar opportunity, which is traditionally overlooked while forecasting the market. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global thermal insulation material market.
Furthermore, Persistence Market Research has developed a market attractiveness index for all the segments–product type, material type, application and region – to help identify the real opportunities that lie in the global thermal insulation material market.
A detailed section on the competition landscape to understand the market structure
Another part of the report features the competition landscape of the global thermal insulation material market and has information on the key players operating in this market. The competition landscape contains detailed information on the important companies operating in the global thermal insulation material market in the form of company description, product overview, key developments, strategic overview and key financials of each of the featured companies along with the SWOT analysis of the companies. This competition landscape is a valuable part of the report as it contains all the necessary information to study the leading companies operating in the global thermal insulation material market in detail and also reveals how they implement their strategies and vision to stay at top in this highly competitive market.