Glass Wool Insulation: A Global Strategic Business Report - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-13 03:45:03
The global Glass Wool Insulation market is projected to reach 4.5 million tons by the year 2018, driven by growing demand for energy efficiency, favorable government policies encouraging the use of insulation, and increasing demand from emerging countries.
Glass wool insulation is one of the most widely used types of insulation in the world. Preference for glass wool as an insulation material in select applications can be primarily attributed to its light weight, high resilience and superior tensile strength, in addition to its acoustic and thermal insulation properties. Following a drastic decline in revenue growth during 2008 and 2009, the market for insulation in most countries is currently staging a recovery driven by favorable gains in building construction spending. Growth in the developed markets would be primarily driven by the implementation of more stringent regulations pertaining to building energy requirements in developed regions, especially the US and Western Europe.
The US represents the largest market worldwide, followed by Europe. Currently, the recovery in demand for glass wool insulation in the US remains modest. The implementation of stringent energy requirements for new buildings has in part countered the decline in the overall construction sector in recent years. However, the market is expected to pick up momentum in the coming years with the housing construction sector and energy-efficiency code adoption pitching in the maximum. The 2012 International Energy Conservation Code (IECC) is expected to drive the demand for insulation products with the adoption of increased R-values and expanded requirements for insulation in the US. Additionally, builders are expected to utilize large amounts of insulation material per unit built area to make the houses more appealing to prospective buyers. Legislations in Europe are also expected to offer significant growth opportunities for glass wool insulation in the regions construction markets. Adoption of stringent EPBD directive focused on reducing CO2 emissions and bringing down the consumption of energy in buildings is expected to drive the demand for insulation products in the EU.
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