North America Insulation Market is expected to exceed $16 Billion by 2024
Date: 2019-05-14   Author: Rahul Varpe  Category: #news

North America Insulation Market is expected to exceed $16 Billion by 2024

North America has turned out to be one of the potential hotbeds for market investment. This can be primarily attributed to the increasing governmental initiatives with regards to energy efficient housing schemes across the belt. Moreover, the active participation by the private entities has also added substantially to the regional landscape. In this regard, the IEX USA (Insulation Expo USA) event held last year created a significant buzz in the North America market.

Europe procured 25% of the global market size in 2017, Asia Pacific has also registered lucrative proceeds with an anticipated CAGR of 6% over 2018-2024. Backed by a barrage of such strong regulatory guidelines to promote advanced insulating techniques, the insulation market stands to gain much over the ensuing years. Speaking of the competitive landscape, the industry is rather fragmented with the participation of myriad players inclined toward adoption of modern and sustainable technologies.

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Fi-Foil’s launch of two revolutionary insulation products in 2017 NAHB sent out waves of anticipation in insulation market, especially amidst the backdrop where energy efficiency trends are predominantly shaping the business landscape. Reportedly, these two highly innovative, environmentally viable reflective insulators, brainstormed by renowned architect Phil Kean, were presented at the yesteryear International Builders Show in Orlando. The two products dubbed HY-Fi and M-Shield were allegedly chosen for The New American Remodeled Home and The New American Home respectively.

While HY-Fi is claimed to be a hybrid insulation system which works in conjunction with spray foam, M-Shield is a paperless insulation for masonry walls. Fi-Foil has already gathered rave reviews across the entire insulation market for these two products, primarily for its groundbreaking in built technology. The U.S. based company reportedly has utilized cavity air space in manufacturing these flagships to ensure improved performance with reduced radiant heat transfer. The huge popularity of these devices depicts a fraction of the ongoing developments underlining globally that grabbed a valuation of USD 45 billion in 2017.

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Major players in Insulation market includes: Armacell, Johns Manville, Edge-Sweets Company, Roxul Technical Insulation, and Climatech International attended the event which encompassed innovative technologies around thermal insulation for industrial as well as commercial applications. In terms of profitability potential, North America is forecast to surpass USD 16 billion by 2024.

Rockwool International, Huntsman International have already procure a major portion of the market share, the anticipated trends point toward various small-scale manufacturers and regional players gaining a substantial edge in the competitive terrain. All in all, the global insulation market share is projected to exceed a valuation of USD 70 billion by 2024.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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