Press Release / Business / APAC to Retain Dominance Over Global Advanced Insulation Materials Market

APAC to Retain Dominance Over Global Advanced Insulation Materials Market

Industry Update
July 2019: A new kind of material could unlock new applications for solar heat. It can be used for home heating or industrial processes which uses a new kind of aerogel, using a structure made of silica. This material is developed by Lin Zhao, and Evelyn Wang, along with six others
Global Advanced Insulation Materials Market Overview
Insulation materials are used to create a barrier and stop the heat flow. It is essentially used for different types of insulation such as building insulation, electrical insulation, as well as soundproofing. There are different types of insulation materials used to carry out these applications of insulation. Market Research Future (MRFR), recently published a report on advanced insulation materials, which states that the global market is expected to witness an 11% CAGR over the forecast period.
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Various factors are impacting the advanced insulation materials market positively over the assessment period. An increase noted in demand for efficient insulation in both residential sector as well as commercial sector is posing as the primary factor pushing sizeable growth in the global advanced insulation materials market over the forecast period. Further, increasing cost of energy and an elevated demand for the same across the globe is expected to promote growth in the advanced insulation materials market.
Moreover, governments across the globe have started to introduce regulations making insulation in houses and other buildings compulsory. This has fueled the upsurging of the advanced insulation materials market. Additionally, a wide scope of application of insulation materials in different end-user industries is accelerating growth in the global advanced insulation materials market. However, many advanced insulation materials are carcinogenic in nature and have high production costs. This is expected to pose as a hindrance in the growth of the advanced insulation materials market.
Key Players
The global advanced insulation materials market report has profiled several distinguished market vendors including Aspen Aerogels Inc., Cabot Corporation, 3M Company, Aerogel Technologies LLC, Nano High-Tech Co. Ltd., Guangdong Alison Hi-Tech Co. Ltd., Morgan Thermal Ceramics, Unifrax Corporation, and Shandong Luyang Share Co. Ltd.
Market Segmentation
The global Advanced Insulation Materials Market is studied for various segments on the basis of materials, application, and region. Based on materials, the global advanced insulation materials market is segmented into ceramic fibers, aerogels, glass bubbles, EPS, and XPS. The aerogel materials segment is expected to ascend at the fastest CAGR over the forecast period. Superior properties of insulation and increasing concerns over energy conservation are some of the factors leading to heavy growth to the aerogel segment in the global advanced insulation materials market.
Based on application, the global advanced insulation market is segmented into industrial, construction, oil & gas, power, and automotive. Among these end-user industries, the oil & gas sector dictated the global advanced insulation materials market at the beginning of the forecast period. The sector is expected to witness significant growth during the forecast period owing to the increasing demand for advanced insulation materials in the sector owing to the rising concerns over energy conservation. The automotive segment is also anticipated to witness significant growth during the forecast period owing to the applications of enhanced acoustic performance, thermal signature reduction for hot engine components, impact damping, fire protection, and lightweight thermal insulation for the exhaust.
Detailed Regional Analysis
The global advanced insulation materials market is geographically segmented into four regions viz Europe, Asia Pacific, North America, and the Rest of the World. The APAC dominated the global advanced insulation materials market at the beginning of the forecast period. Within Asia Pacific, China is expected to lead the country-specific advanced insulation materials market over the forecast period. Demand for advanced insulation materials in the region is driven by rising consumption of the same in various end-user industries residing in the APAC region. These end-user industries include construction, automotive, oil & gas, and industrial sectors. Moreover, a rise in the infrastructural investments and increasing expansion opportunities in the region for market players are impacting the growth chart of Asia Pacific’s advanced insulation materials market in a positive manner.
North America is expected to trail behind the APAC and garner the second-largest share of the global advanced insulation materials market. Rising consumer preference for green buildings and sustained investments in commercial real estate has contributed heavily to the growing advanced insulation materials market. Ascension in the popularity of panelized and modular housing is boosting North America’s advanced insulation materials market exponentially.
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