Selbyville, DE -- (SBWire) -- 05/13/2020 --Changing demographics in terms of urbanization and population growth have created a strong need for smart infrastructure solutions. Considering the current rate of climate and environmental change, the need for sustainable infrastructure is greater than ever. Urban builders and city planners are adopting effective building approaches through smart and efficient planning, designing, and integration.
In order to reduced surging electricity bills, more and more consumers are switching to ecofriendly insulating products. An extensive range of insulating materials is available in numerous forms, such as blanket form which is prominently used in residential establishments. Consumer preference for insulation materials highly depends upon the application and the required R-value. The upsurge in urban residential construction over the past several years has increased the demand or efficient insulating materials. According to the latest research, the insulation market is estimated to surpass $ 81.69 billion mark by 2026.
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Fiberglass, also known as glass wool, is among the most popular and most widely used insulation materials. This can be associated with advantages such as low costs and easy and convenient application compared to other materials. Fiberglass exhibits excellent properties such as improved absorption of sound waves. In addition, it offers a greater degree of design flexibility. Its radio frequency transparent and non-conductive characteristics makes it an attractive option in modern smart home designs.
In terms of the geographical outlook, Asia Pacific region poised to dominate global insulation industry in the upcoming years. Majority of the growth will be led by China and Japan. The regional construction and industrial sectors have experienced dramatic growth in recent years. For future infrastructure development projects, the Chinese government has introduced new insulation requirements for buildings to minimize power consumption. The country has also introduced new design standards to ensure energy-efficiency of residential buildings.
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Similarly, the Japanese government has also enforced several regulations for the development of smart, sustainable and energy-efficient infrastructure. Insulation material manufacturers are required to undergo strict tests to ensure that their products are in compliance with carcinogenicity and toxicity standards.
Although the current coronavirus situation has temporarily halted all infrastructure development projects and manufacturing operations across the Asia Pacific, manufacturers are expected to witness a significant demand once the situation improves. These companies will need to boost their production capacities in order to address the future demand.
The global insulation industry is highly fragmented with the presence of several leading industry participant. These include Owens Corning, Dow Chemicals, BASF, Knauf Insulation, Huntsman International, Rockwool International, CertainTeed, Recticel Insulation, and Armacell, among others.
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Market players adopt numerous growth and expansion strategies from time to time to expand their local as well as international presence. These include strategic mergers, acquisitions, and collaborations. Citing an instance, Rockwool International had acquired Flumroc AG in November 2017. The acquisition enables the company to expand its footprint in the Swiss insulation market.
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