Insulation boards are boards having insulating properties. They are the most commonly used type of insulation material. They enhance the level of comfort & reduce the energy bill considerably. Based on the type of board material used, insulation boards are available in a wide range. Boards are selected based on their application, which is the most important criteria considered while selecting a board. Insulation boards find huge applications in residential, commercial & industrial sectors where they are used to insulate walls, roofs and floors. Industrial boards are available in various sizes and insulation values.
Growing construction activities across the globe due to growing urbanization are expected to create healthy demand for advanced construction materials, such as insulation boards, in the coming years. Moreover, insulation boards are being increasingly used in regions with extreme temperatures as they help in saving energy. This is expected to create healthy demand for insulation boards in future.
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Global Insulation Boards Market: Dynamics
Increasing population and rising urbanization have given birth to rapid industrialization and construction activities across the globe. This, in turn, is anticipated to create healthy demand for insulation boards during the forecast period. Moreover, growing demand for insulation boards from the electrical & electronics industry will also give a boost to the market during the forecast period.
Additionally, growing adoption and consumption of advanced building materials to enhance the durability and energy efficiency of homes is further expected to fuel the demand for insulation boards in future as the use of efficient insulation can help reduce the overall energy consumption. Furthermore, green building initiatives being taken by governments of various countries are also expected to drive the concerned global market during the forecast period.
Global Insulation Boards Market: Segmentation
The global insulation boards market can be segmented on the basis of material type, density, application and regions.
On the basis of material type, the market is segmented into:
Extruded Polystyrene (XPS)
Expanded polystyrene (EPS)
On the basis of density, the market is segmented into:
On the basis of application, the market is segmented into:
Global Insulation Boards Market: Regional Outlook
In the global market, Asia pacific is anticipated to dominate the market and is expected to maintain its dominance throughout the forecast period. This can be attributed to the rapid growth of the construction sector in the region. Moreover, rising urbanization will lead to the establishment of various industries. This, in turn, is expected to create healthy demand for insulation boards in the Asia Pacific. China and India are the key countries contributing majorly to the overall growth of the region as a huge number of market players involved in the manufacturing of insulation boards are located in these two countries. Moreover, growing construction industry and rapid industrialization across the globe will uplift the overall demand for insulation boards during the projected time period.
In cold countries of North America and Europe, insulation boards are mandatorily used during the construction of new houses and buildings and thus, the market in these regions will witness robust growth during the forecast period.
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Global Insulation Boards Market: Market Participants
Some of the manufacturers involved in the manufacturing and sales of insulation boards are mentioned below:
The Dow Chemical
Fibretex India Private Limited