Global Insulation Market is Expected to Reach USD 56.6 Billion in 2018: Transparency Market Research
Albany, New York (PRWEB) May 15, 2013
The U.S. market for insulation was valued at USD 6.05 billion in 2011 and is expected to reach USD 10.36 billion by 2018, growing at a CAGR of 8% from 2012 to 2018. The demand for insulation is expected to be driven by the growth of construction industry in developing countries of Asia Pacific and the growth of re-insulation market in the developed economies of the U.S. and Europe.
Increasing awareness about the depleting earthly resources and the urgent need to conserve energy, has manifested into amplified demand for insulation in homes and offices.
Related Report : Crop Protection Chemicals Market
Fiberglass is the most widely used insulation material worldwide and accounted for more than 43% of the global insulation market in 2011 and approximately 48.3% of the total U.S. market for the same year.
Fiberglass is also the fastest growing insulation material and is expected to grow at a CAGR of 8.9% from 2012 to 2018. Foamed plastics are the second biggest insulation material consumed globally as well as in the U.S. and is expected to grow at a steady pace over the forecast period.
Related Report : Pesticides Market
Residential construction emerged as the leading end use application for insulation and accounted for approximately half of the total U.S. insulation market in terms of volume for the year 2011. Nonresidential construction market for insulation in the U.S. is expected to grow at a CAGR of 5.4% from 2012 to 2018.
Browse the full report with TOC at http://www.transparencymarketresearch.com/insulation-market.html
Asia Pacific was the biggest consumer of insulation material and accounted for more than 40% of the global market in 2011. Asia Pacific is also expected to be the fastest growing market for insulation at a CAGR of 9.2% from 2012 to 2018. The North American market for insulation is also expected to grow at a healthy pace over the forecast period.
Some of the leading companies operating in the global and in the U.S. insulation market include Owens Corning, Certain Teed, Johns Manville, Huntsman Corporation, Guardian Building Products, Knauf Gips KG, Dow Building Solutions, and Rockwool International among others.
Browse all market research reports: http://www.transparencymarketresearch.com/