Quadintel recently added a new market research report named “Building Insulation Materials Market.” The research provides a thorough analysis of the global market in relation to the major growth-influencing opportunities and drivers. The study also maps emerging trends and their effects on current and forthcoming market developments.
The research sheds light on the industry-specific difficulties that the major companies and the Building Insulation Materials market as a whole are now experiencing. This will eventually assist market players in making profitable investment decisions. Market analysts have researched the market using numerous market segmentations in order to help the main players comprehend its structure.
Global Building Insulation Materials Market is valued at approximately USD 27 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4% over the forecast period 2022-2029.
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Russia-Ukraine War Impact Analysis:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
The building insulation materials are the type of materials that are formed through the thermal envelope of a building, thereby reducing the heat transfer off from the building. The Building Insulation Materials market is expanding because of factors such as increasing infrastructural and construction activities and rising demand for energy efficiency. The market for the Building Insulation Materials may rise in the forecast period, owing to Rising disposable income and rapid urbanization in the global market. However, high cost of insulation materials may halt market growth.
Rising construction projects, globally has envisaged a tremendous pace. According to Statista, the construction industry spending is expected to go to USD 19.2 Trillion, by the year 2035 from USD 16.2 Trillion, by the year end 2028 and USD 12.5 Trillion, in the year end 2020. Additionally, according to Statista, in 2020, 81.41% of the total South Korea’s population lived in urban areas and cities. Further, with rapid increase of the chemical, construction, and automotive sectors in the region. There will be fostering of the residential and commercial activities that will consequently pave the way for growth of the Building Insulation Materials market.
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The key regions considered for the Global Building Insulation Materials Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the space in terms of revenue, owing to rising numbers of construction projects for instance:. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to rising growth of R&D activities.
Major market players included in this report are:
- Rockwool International A/S
- Atlas Roofing Corporation
- BASF SE
- Beijing New Building Material (Group) Co Ltd
- DuPont
- GAF
- Huntsman International LLC
- Johns Manville
- Kingspan Group
- Knauf Gips KG
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The detailed segments and sub-segment of the market are explained below:
By Type:
Fiberglass
Mineral Wool
Cellulose
Polyurethane/ Polyisocyanurate Foam
Polystyrene
Other Insulation Materials
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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