According to the research report titled ‘Insulation Market Size By Product (Fiberglass/Glass Wool, Mineral Wool, Plastic Foam [Expanded Polystyrene, Extruded Polystyrene], By Application (Residential Construction, Industrial, HVAC & OEM, Non-residential Construction) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with MarketStudyReport, global insulation market is estimated to surpass USD 80 billion by the end of forecast timeframe 2019-2026.
 

Proliferation of real-estate investments is primarily driving the global insulation market growth. Rising demand for sustainable and smart infrastructure solutions fueled by growing population, rapid urbanization, and environmental changes are adding considerable traction to the industry growth.
 

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Moreover, effective building approaches along with the ability to provide planning, designing, and integration will play a major role in accelerating market expansion.
 

Further, stringent regulations concerning energy use and sustainable development are compelling industry players to go through rigorous testing to ensure that their products meet carcinogenicity and toxicity standards. Companies all over the world are working to develop ecologically friendly, recyclable insulating materials that are safe for human health.
 

Based on product, global insulation industry from fiberglass/glass wool will showcase a strong growth rate over the projected timeframe. This can be attributed to material's advantages such as low cost and a simpler application technique. Further, improved features like design flexibility, non-conductivity, radio frequency transparency, and sound absorption have accelerated product demand.
 

With respect to application, the demand for insulation solutions in the residential segment is slated to grow considerably in the upcoming years, creditable to increased demand for requisite insulation in the expanding residential construction sector. In addition, product prominence will be boosted by the availability of a wide range of products in various forms such as blanket form required for residential applications.
 

From the regional aspect, Asia Pacific is expected to capture a major portion of the overall insulating industry share, attributable to rising demand from rapidly growing construction & industrial markets in China. The country’s government updated insulation building requirements to reduce energy consumption and energy efficiency design standards of public, green, and residential buildings, further enhancing the industry’s remuneration prospects.
 

Moreover, Japan, with its rising population along with mandatory regulations, will significantly contribute towards the market growth over study period.
 

Considering the competitive landscape, Dow Chemical Company, Owens Corning, BASF SE, Recticel Insulation, Huntsman International LLC, Knauf Insulation, Armacell, CertainTeed, and Rockwool International A/S are among the major companies influencing global insulation market trends.