Increasing energy costs have resulted in
greater operational expenses across a majority of industries. As a result,
companies worldwide are actively inclined toward employing acoustic and thermal
insulation technologies to challenge rapidly increasing costs.
High rate of industrialization and rapid
urbanization in emerging markets of China and India, along with Philippines,
Malaysia, Thailand, and Indonesia, have driven the need for quality
infrastructure. Increasing construction spending to improve residential,
public, and industrial infrastructure in Asia Pacific, coupled with energy
conservation initiatives, is expected to drive regional demand for insulation
over the forecast period.
Rising demand for wall and blanket
insulation in residential, commercial, and industrial buildings is also
expected to boost market growth over the forecast period. Major companies are
adopting insulation in order to reduce their operational costs by limiting
energy utilization. Increasing presence of manufacturing companies in various
countries across the world, including China, India, Brazil, and Mexico, is
expected to drive demand for insulation materials in industrial buildings.