Commercial Insulation Market

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Commercial Insulation MARKET 2020
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Commercial Insulation MARKET 2020
Commercial Insulation Market 2020 Industry
Survey, Growth, CompetitiveLandscape and
Forecasts to 2023
As per the MRFR analysis, the global Commercial
Insulation market is exhibiting a significant
growth, and is anticipated to retain this growth
through the forecast period, to reach USD 2,708.1
million by 2024. The market growth is attributed
to increasing demand from building construction
industry for various applications, such as
institutions, hospitals, office buildings, malls,
airports, food beverage, residential buildings,
general commercial buildings, warehouses, and
others. Office buildings is the major application
for accounting major share and general commercial
buildings is the fastest growing application in
the overall commercial insulation consumption. In
addition to this, the global market is driven by
the increasing installation of insulation
material in commercial applications to reduce
energy cost. Owing to such factors, the global
market is anticipated to witness significant
growth at a CAGR of 5.71 through the forecast
period.
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Commercial Insulation MARKET 2020
Market Segmentation The global Commercial
Insulation market is segmented on the basis of
type, application, and region. The type of
commercial insulation needed to provide energy
efficiency includes wraps/sheets, coatings, and
adhesives sealants. By 2024, wraps/sheets is
estimated to dominate the commercial insulation
market, growing at a CAGR of 6.26. The type of
wraps/sheets commercial insulation include
aluminum foil laminate, multi-ply composite
membrane, insulation jacketing tapes,
polyethylene duct wraps, and others. Among the
type of wraps/sheets, aluminium foil laminates
accounted for the largest market share of 41.8
in 2016 and is projected to lead the market,
growing at a CAGR of 6.78 by 2024. Aluminum foil
laminates are used in commercial building for
insulating ducts and pipes. Enquiry of the
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Commercial Insulation MARKET 2020
Regional Analysis
The demand for commercial insulation in Asia and
the Middle East has been expected to grow due to
ample opportunities available because of the
development of infrastructure. Asia Pacific
accounted for the fastest growing market with a
CAGR of 6.79 during the forecast period, due to
the growing demand for energy efficient materials
to enhance and maintain building
temperature. Furthermore, the growing
opportunities in the Middle East offer various
opportunities for investors, as several
commercial buildings and offices are under
construction with huge investments in the UAE,
Qatar, and Iran. Some of the underconstruction
projects in the UAE are Capital District,
Business Bay, Masdar City, and Al Burjeel
Hospital. North America is highly focused on
providing cost-effective and secured insulation
for commercial applications. The renovation of
buildings and regulations of control environment
act increases the opportunity for manufacturers
to provide energy efficient insulation in
commercial pipes and buildings. Hence, commercial
insulation market has enough potential to sustain
in North America.
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Commercial Insulation MARKET 2020
Application Major Players in this Research
Commercial Insulation Market Prominent
Players The study was conducted using an
objective combination of primary and secondary
information, including inputs from key
participants in the industry. The report contains
a comprehensive market and vendor landscape, in
addition to a SWOT analysis of key vendors.
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