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The insulation market was USD 65.9 billion in 2022, which
will increase to USD
117.4 billion, growing at a 7.5% compound annual growth rate, by 2030.
The other reasons supporting the expansion of this industry
include the high need for thermal and acoustic insulation, coupled with the
rising funding in the construction industry.
Aircraft insulation is attained to improve the level of
safety and comfort inside the aircraft. It has a key role in protecting crews
and passengers against very low temperatures at higher altitudes. Also, it offers
protection against engine noise and the aircraft insulation is employed to enhance
acoustic, anti-vibration, thermal protection, electrical insulation, and
fire-resistance properties.
Furthermore, EPS insulation is budget-friendly and is produced
with 98% air and 2% polystyrene. As still air is the most ideal thermal
insulator, EPS is an outstanding insulation material.
The glass wool category accounted for the second largest
share, because of the inexpensiveness, better life span, being non-hazardous to
health, and easy accessibility.
APAC accounts for the leading position in the industry, and
it is likely to remain leading, generating more than USD 50 billion, by the end
of this decade. This can be primarily because of the surging populace, which
subsequently boosts the need for industrial and commercial construction.
The increasing production of oil in China and India, rising
worries about substantial energy wastage, and the surging need for materials in
renovation and refurbishing also boost the industry expansion.
North America was the second-largest contributor to the
industry. This can be ascribed to the advancing construction industry as well
as the stringent government rules for enhancing energy efficiency.
With the rising
consciousness concerning energy conservation, the insulation industry
will progress continuously in the coming years.