Product Code: 69503
The market for Active Insulation is expected to grow at a CAGR of around 5% during the forecast period. Major factors driving the market studied are increasing demand from the construction industries in the Asia-Pacific and rising usage in the textile industry. On the flipside, procurement of high quality raw materials and unfavorable conditions arising due to COVID-19 outbreak are the major restraints hindering the growth of market.
- Development of new technologies for various construction and textile applications is expected to offer various lucrative opportunities for the growth of market.
- By application, buildings & construction segment is expected to grow at a significant rate during the forecast period owing to increase in commercial, residential, industrial and infrastructure construction projects.
- Asia-Pacific dominated the market across the globe with the largest consumption from the countries such as China and India.
Key Market Trends
Growing Demand from the Building & Construction Segment
- The building & construction segment is the largest application of the market studied. Increasing usage of advanced knitting techniques for converting normal materials and fibers into insulation fibers and construction boards are expected to boost the active insulation market demand over the forecast period.
- Expanded Polystyrene insulation is a lightweight, rigid, and closed cell insulation, which is widely used in building & construction sector as it can withstand high loads & back-fill forces and has various advantages such as long-term R-Value ("R" is the resistance to heat flow), chemical inertness, energy efficiency, anti-bacterial, dimensional stability, high thermal resistance, and measurable energy savings.
- The global construction industry is projected to grow at a CAGR of over 4% during the forecast period and is estimated to reach USD 10.5 trillion by 2023. Owing to this, the demand for active insulation is likely to increase in construction of new buildings and infrastructure, which is expected to boost the market studied during the forecast period.
- Government initiatives, such as the Saudi Arabia Vision 2030, are expected to support the growth of the commercial building activities at a significant rate in the coming years. This, in turn, is expected to augment the growth of the active insulation market in the country.
- Owing to all the above-mentioned factors for active insulation, its market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is likely to dominate the active insulation market during the forecast period. In countries like China and India, owing to increasing residential, commercial and industrial buildings, the demand for active insulation is increasing, which in-turn will stimulate the market growth rate in the coming years.
- The construction sector of Asia-Pacific has been witnessing a steady growth, in the recent past, owing to the presence of fast-growing economies, rapid urbanization, and rising infrastructure spending. For instance, in China, the housing authorities of Hong Kong have launched several measures to push-start the construction of low-cost housing. The officials aim to provide 301,000 public housing units for the 10-year period to 2030.
- Shift in consumer awareness pertaining to fitness, health and outdoor activities along with growing consumer spending on performance clothings such as active and sportswear is expected to support active insulation market demand for textile applications.
- In India, the increasing per capita income, favorable demographics, and a shift in preference to branded products are expected to boost the demand for the textile industry. According to the IBEF, the textile industry in India is estimated to reach about USD 223 billion by 2021.
- Some of the major companies operating in Asia-Pacific region are - Remmers India Pvt. Ltd, W. L. Gore & Associates, Inc., and PrimaLoft,Inc..
- The aforementioned factors, coupled with government support, are contributing to the increasing market demand for active insulation during the forecast period.
Competitive Landscape
The global active insulation market is fragmented in nature with a few major players dominating a significant portion of the market. Some of the major companies are Polartec, PrimaLoft, Inc., W. L. Gore & Associates, Inc., H.Dawson Sons and Company (Wool) Ltd, and INVISTA among others.
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TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Demand from the Construction Industries in Asia-Pacific
- 4.1.2 Rising Usage in the Textile Industry
- 4.2 Restraints
- 4.2.1 Procurement of High Quality Raw Materials
- 4.2.2 Unfavorable Conditions Arising due to COVID-19 Outbreak
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Product
- 5.1.1 Polyester
- 5.1.2 Cotton
- 5.1.3 Nylon
- 5.1.4 Glass Wool
- 5.1.5 Mineral Wool
- 5.1.6 Expanded Polystyrene (EPS)
- 5.1.7 Others
- 5.2 Application
- 5.2.1 Textile
- 5.2.2 Buildings & Construction
- 5.2.3 Others
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 ACTIS
- 6.4.2 Autex Industries Limited
- 6.4.3 Ecological Building Systems
- 6.4.4 H.Dawson Sons and Company (Wool) Ltd.
- 6.4.5 Invista
- 6.4.6 Polartec
- 6.4.7 PrimaLoft, Inc.
- 6.4.8 Remmers India Pvt. Ltd
- 6.4.9 Sintex
- 6.4.10 UdiDAMMSYSTEME GmbH
- 6.4.11 Wacker Chemie AG
- 6.4.12 W. L. Gore & Associates, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of New Technologies for Various Construction and Textile Applications
- 7.2 Other Opportunities