The flexible insulation market size was USD 7.77 Billion in 2015 and is projected to reach USD 10.84 Billion by 2021, at a CAGR of 5.54% from 2016 to 2021. In this study, 2015 has been considered the base year, and 2016–2021 the forecast period to estimate the market size of flexible insulation.
Objectives of the study:
- To analyze and forecast the market size of flexible insulation in terms value and volume
- To define, describe, and segment the global flexible insulation market by material, and insulation type
- To forecast the sizes of the market segments based on regions such as the Asia-Pacific, North America, Europe, South America, and Middle East & Africa
- To provide detailed information regarding the important factors influencing the growth of the market (drivers, restraints, challenges and opportunities)
- To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contribution to the overall market
- To identify and analyze opportunities for stakeholders in the market
- To analyze competitive developments such as expansions, joint ventures, agreements, acquisitions, and new product developments in the global flexible insulation market
- To strategically profile key players and comprehensively analyze their core competencies
In this report, market sizes have been derived using both, bottom-up and top-down approaches. First, the market size for material (fiberglass, elastomer and others); insulation type (thermal, acoustic, and electrical) and for various regions (Asia-Pacific, North America, Europe, South America, Middle East & Africa) is identified through both, secondary and primary research. The overall flexible insulation market sizes for various regions and countries have been calculated by adding these individual market sizes. For future growth (CAGRs) trends of flexible insulation, the insulation type–thermal, acoustic and electrical have been analyzed. The secondary resources include annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and so on. Findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives.
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“Fiberglass is the largest material segment for flexible insulation”
Fiberglass, by material is estimated to account for the largest share in the global flexible insulation market in 2016, in terms of both, value and volume. This material segment is projected to drive the flexible insulation market from 2016 to 2021, due to the growing demand for green buildings and greenhouse gas emission reduction programs. Also, the demand for fiberglass insulation is rising from applications such as cavity wall insulation, thermal insulation for pipe work in HVAC industries, flexible air ducts, residential and commercial refrigerators & freezers, jet-engine ducting, aircraft components, and commercial construction.
“Thermal insulations, by type are estimated to hold the largest share in the flexible insulation market in 2016”
Thermal insulations, by type are estimated to have accounted for the largest share in the flexible insulation market, both, in terms of value and volume, in 2016. This is owing to the rising awareness about energy conservation. Also, the growth of building & construction, and HVAC industry in regions such as North America, Middle East & Africa, and Asia-Pacific is expected to drive the demand for flexible insulations.
“Europe is the biggest market for flexible insulations”
The European region led the global flexible insulation market in 2015. An increased concern over improving efficiency in buildings, and policies for insulation material requirements in Europe is expected to drive the demand for flexible insulation. High level of industrialization in Germany accompanied by the growing demand for residential, and commercial spaces in France is expected to drive the demand for flexible insulation. marine insulation