HIGH PERFORMANCE INSULATION MATERIALS MARKET ANALYSIS

High Performance Insulation Materials MarketSize and Trends

High Performance Insulation Materials Market Outlook – Growing Construction Industry To Drive Market Growth

The growing construction sector is expected to have an immense positive impact on the growth of high performance insulation materials market. According to a study conducted by Coherent Market Insights, the global construction industry is projected to be pegged at over US$ 15 trillion by 2024, with Asia Pacific positioned as the growth engine (the regional market is expected to witness a massive 30% CAGR over 2016–2024). Growing population is a key factor towards growth of the construction industry. Rapid growth of retail industry is also fueling market growth.

Asia Pacific is projected to be the fastest growing region in the global high performance insulation materials market, mainly due to rampant growth of end-use industries such as construction and automotive, especially in emerging economies of India and China. As per stats released by Indian Brand Equity Foundation—part of the Department of Commerce, Ministry of Commerce and Industry, Government of India—the real estate market is expected to be valued at US$ 180 billion by 2020. The automotive sector in India has attracted FDI worth US$ 15.79 billion during April 2000–September 2016, as per statistics released by Department of Industrial Policy and Promotion (DIPP). On the other hand, Europe is expected to hold the largest share of the market throughout the forecast period, owing to its large base of end use industries and high awareness about greenhouse effect and lower energy usage among people.