Global Thermal Insulation Materials
market is projected to display a robust growth represented by a CAGR of 5.8 %
during 2018 to 2023.
The market is primarily driven by rising
construction and industrial activities along with the concern of improving
energy efficiency. Asia Pacific region is the biggest market in the current
period and expected to lead in forecast period. In the forecast period, APAC
region will witness strong growth backed by burgeoning construction and
industrial activities in emerging countries such as China, India, Japan, South
Korea, Indonesia, Malaysia and others.
The global market for Thermal Insulation
Material is mainly driven by the growth and development of residential and
commercial construction sector. Additionally, growth in industries related to
power, oil & gas, chemicals, automotive, HVAC, Pulp & Paper etc. is
also significantly driving the demand of thermal insulation material. The key
utilization of thermal insulation materials is to prevent significant heat flow
from one side of the insulation to another from buildings and industrial process.
Moreover, global initiatives to reduce carbon emission by improving energy
efficiency will boost the demand of thermal insulation materials in the