Insulation Products Market to See CAGR of Almost 7.5% through 2021, Says M&M in Its New Report Available at MarketPublishers.com
29 Aug 2016 • by Natalie Aster
LONDON – The value of the world insulation products market stands at more than USD 43.8 billion in 2016. It is expected to post a CAGR of almost 7.5% in the next 5 years and exceed USD 62.8 billion by 2021. Key market growth driver is the increasing demand for insulation products from the construction, automotive, defense, aerospace, maritime and OEMs industries.
Basing on type, the thermal insulation sector will likely see the highest CAGR in the next five years. The highest demand for thermal insulation products comes from the commercial and residential construction as well as from OEM manufacturing industrial sites.
In 2015, China was the key consumer of insulation products worldwide. It was followed by Japan. In the next 5 years, APAC is predicted to be the most rapidly-growing regional market for insulation products. Growth in this regional market is propelled by rapidly developing emerging economies, enhancing awareness of insulation products, favourable government regulations and also expanding trends in the key end-use industries.
Insightful report “Insulation Products Market by Insulation Type, Material, End-use Industry and Region - Global Forecast to 2021” prepared by MarketsandMarkets (M&M) gives reliable data on the performance of the world’s insulation products market on the global as well as regional scales. It offers details on the key market growth barriers and drivers, identifies lucrative growth opportunities, discusses top challenges, covers prevailing development trends, provides in-depth analyses of the regulative landscape and competitive scenario. The research study describes the current state of the market, presents historical insights and gives future market outlook through 2021.
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