The insulation market is growing with a significant rate due to urbanization, increasing energy cost and building regulation codes, and growing construction industry. As green buildings are gaining high popularity among consumers, the insulation market is expected to grow in the coming years. Insulating buildings are most financially appealing of renewable energy measures and all energy efficiency to reduce greenhouse gas emissions.
The insulation materials are non-conducting in nature and are used to separate things from its adjacent atmosphere for sustaining its normal state. Acoustic insulation, thermal insulation and electrical insulation are the types of insulation. Acoustic and thermal insulation are essential to improve the quality of life due to their advantages such as to provide an environment that is more comfortable for the consumers. Generally atoms are packed in insulators in such a way that they are not able to vibrate for transferring the required amount of electrical energy, heat energy or sound energy applied to it. R-value (resistance value), the amount of thermal resistance of material, is used to determine the quality of the insulator. As much high the R-value of the material is, more better will be the insulator.
Insulation is a cost effective way by which greenhouse gases emissions in the built environment can be decreased and energy consumption can also be reduced. Gases own poor thermal conduction properties as compared to solids and liquids, therefore if gases are trapped; it makes a superior insulation material. Gases can be disrupted into small cells to increase its effectiveness, which will not allow the gas to transfer heat efficiently by natural convection. Insulation performance can be disrupted by some factors such as surface emissivity, density, thermal conductivity, thermal bridging and specific heat capacity.
On the basis of products, the insulation market can be categorized as mineral wool, slag wool, fiberglass, cotton wool and plastic foam. Plastic foam are of various types such as polyurethane (PUR) foams, expanded polystyrene (EPS), extruded polystyrene (XPS), phenolic foams and polyisocyanurate insulation. Fiberglass insulation had become famous under all the products for the construction professionals and homeowners due to its properties such as insulative properties, material’s low cost, ease of installation and fire resistance. The insulation market can be categorized on the basis of applications as nonresidential construction, original equipment manufacturing, residential construction, industrial, and heating, ventilating and air conditioning (HVAC).
Some of the factors driving the growth of the insulation market are stringent regulatory environment and cost efficiency. Insulation improves and protects the quality of life by reducing business running and household costs. The higher energy requirement is creating an opportunity for the insulation market to grow at a more significant rate. However, lack of awareness about the insulation among the consumers and volatile price of raw materials are some of the factors restraining the growth of the insulation market to some extent.
Recently, in June 2015, a Berkshire Hathaway company Johns Manville had introduced lightweight spunbond line Euro32m. The Euro32m line supports the rising demand for high end polyester filtration media and is expected to raise the Berlin plant's spunbond lightweight capacity by more than 40%.
Some of the competitors in the insulation market are Duro-Last Roofing, Inc., Atlas Roofing Corporation, Knauf Gips KG, ROCKWOOL International A/S, CertainTeed Corporation, Owens Corning, The Dow Chemical Company, Johns Manville, and Huntsman International LLC.