Global Energy Efficient Materials Market:
As per GMI Research’s latest analysis, the global Energy Efficient Materials market reveals that the market is slated to register a higher CAGR over the forecast period. The accelerating energy consumption in the building & construction industry for different electrical appliances and peripherals followed by the rising awareness related to energy saving are the two major factors contributing to market growth.
Global Energy Efficient Materials Market’s leading Manufacturers:
- PPG Industries, Inc.
- AGC, Inc.
- Saint-Gobain
- Cornerstone Industrial Minerals Corporation
- BASF SE
- Loyal Group
- INEOS Group
- LG Chem, Ltd.
- Owens Corning
- Solvay Group
Global Energy Efficient Materials Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global energy efficient materials market is projected to witness strong demand during the forecast period. The increasing energy consumption in the building & construction industry for electrical appliances and peripherals is one of the biggest factors that is driving the market growth. In addition to this, the increasing awareness related to energy saving is rising its adoption for energy materials over the coming years. These materials provide thermal insulation, which uses less heating and cooling power in buildings to attain and preserve indoor heat and cold in winters and summers.
This type of material provide remarkable advantages such as water-resistant, air leakage resistance, vapor-permeability, and lowers heating & cooling costs. The stringent government and environmental regulations related to tax credits, energy-efficient buildings, and other incentives provided by government bodies to support the adoption of energy efficient materials by builders and construction companies is boosting the market’s growth. On the other hand, fluctuation in raw material prices and less consumer awareness related to the use of energy efficient products are the two factors that are likely to hinder the growth of the energy efficient material market size.
Product Type Segment Drivers
On the basis of product type, the fiberglass is projected to witness a faster CAGR during the forecast period. The exceptional advantages offered by fiberglasses such as high thermal insulation, anti-magnetic, fire-resistant, high mechanical strength, low maintenance, stability, and durability, are attracting consumers towards the use of this product type. Fiberglass is widely used for cladding, insulation, surface coating, and roofing raw material in the construction sector as it has the capacity to deal with harsh weather and prevent rusting, corrosion, rotting, and reusability.
Application Segment Drivers
On the basis of application, the commercial segment is predicted to grow at a faster CAGR over the forecast period. The increasing number of commercial buildings such as corporate offices, shopping malls, hotels, theatres, restaurants, sport complex, and educational institutes is boosting the demand for commercial applications of this type of material. The rising construction of energy efficient and green buildings followed by the strong demand for energy-efficient technologies to decrease the operating energy usage are certain other factors that are propelling the segment growth.
Global 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:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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