Global Energy Efficient Materials Market
The GMI Research projects that the Energy Efficient Materials Market will witness an expansion in demand over the forecast period. This is mainly due to the ongoing initiatives like tax credits by the government to stimulate their adoption by builders and increasing consciousness about power saving.
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Introduction of the Energy Efficient Materials Market
Energy-efficient materials help in enhancing the energy utilization and efficiency in the building. These materials keep buildings cool from the inside in summers while conserving the indoor heat in winters for better comfort. These materials include cementitious foam, Fiberglass, cellulose, natural fibers, mineral wool, polyisocyanurate, polystyrene, polyurethane, vermiculite, and perlite.
Leading Players of the Market:
- PPG Industries, Inc.
- Saint-Gobain
- AGC, Inc.
- BASF SE
- INEOS Group
- Cornerstone Industrial Minerals Corporation
- Loyal Group
- LG Chem, Ltd.
- Owens Corning
- Solvay Group
Energy Efficient Materials Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Growth in the global energy-efficient materials market is primarily driven by the mounting power usage in the building and construction sector for different electrical instruments and various beneficial features like vapor-absorbency, reduced heating & cooling costs, and resilience to water and air leakage. In addition, the rising knowledge about energy conservation and rigorous environmental and government norms concerned with power-efficient buildings. These materials provide thermal insulation that consumes less power to heat and cool buildings to acquire and preserve in winters and summers, leading to their progressive usage in residential and commercial sectors. Moreover, the energy-efficient material market research report states that various incentives offered by the government to promote their usage in building and construction companies have paved the way for market growth. However, the volatility in the prices of raw materials and inadequate awareness regarding their usage may curb market growth.
Product Type Segment Drivers
Based on the product type, Fiberglass is contemplated to expand at a faster rate owing to its beneficial properties like high thermal insulation, mechanical strength, fire-resistant, low maintenance, anti-magnetic, strength, and flexibility. Also, their implementation as insulation, cladding, surface coating, and roofing raw material in construction led by their potential to resist acute weather and avert corrosion, rusting, reusability, and rotting.
Application Segment Drivers
Based on application, commercial will hold a larger share in the market owing to the accelerating number of commercial buildings, which include shopping malls, corporate offices, restaurants, sports complexes, hotels, educational institutes, and theatres, and among other constructions. Additionally, the rising establishment of energy-efficient and green buildings coupled with the intensified demand for energy-efficient technologies to reduce energy usage have bolstered the energy-efficient materials market size.
Regional Drivers
Based on the regional coverage, Asia-Pacific is forecasted to lead the market in the near future due to the elevating population, soaring per capita incomes, growing demand for residential and commercial buildings. Additionally, the aggravating demand for effective power infrastructures, accompanied by the increasing industrial buildings including educational institutes, shopping malls, factories, and power plants across Japan, China, India, and South Korea, are contributing to the market growth. Besides this, Europe is projected to grow at a higher compound annual growth rate due to the outrageous disposable income and apprehension about energy efficiency. Further, fast economic growth and better living standards add to the energy-efficient materials market opportunities. The excessive usage of these solutions in commercial structures, residential buildings, healthcare facilities, and industrial buildings will impel market growth.
Energy Efficient Materials Market Segmentation:
Segmentation by Product Type
- Polyisocyanurate
- Extruded Polystyrene
- Expanded Polystyrene
- Fiberglass
- Cellulose
- Mineral Wool
- Others
Segmentation by Application
- Residential
- Commercial
Segmentation by Region:
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- South Africa
- UAE
- Brazil
- Saudi Arabia
About GMI Research
GMI Research, a market research and consulting company offers business insights and market research reports for small & medium enterprises and large organizations. Our team of analysts and industry experts conduct market intelligence studies to make sure that all fact-based research reaches a wide range of sectors such as FMCG, Technology, Energy, and Healthcare. The team collects information about the industry implementing both internal and external databases. Our prime emphasis is to acknowledge our clients with the emerging opportunities and challenges faced across different industries. Our step-by-step assistance through strategic and consulting services help clients reach a managerial and actionable decision. We at GMI Research organization make an effort to help business stay ahead of the line.
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