Feb 27 2011
MarketResearch.com has announced the addition of Freedonia Group Inc's new report "World Insulation," to their collection of Construction market reports.
World insulation demand is forecast to increase 5% per year through 2014 to 22.9 billion square meters of R-1 value, a substantial improvement over the 2004-2009 rate. Insulation consumption in most industrializing nations will continue to expand at a healthy pace. In developed countries, sales of insulation materials are expected to rebound after falling sharply in 2008 and 2009 because of the global financial crisis.
Impressive residential building construction spending gains will be the primary driver of growth. Sales of insulation for residential applications in North America will rise at a double-digit pace between 2009 and 2014, as the US housing market recovers. In Western Europe, both residential building construction activity and related product demand will expand at a much faster pace than during the previous five-year period. Solid residential construction expenditure gains in the Asia/Pacific region, the Africa/Mideast region, Central and South America, and Eastern Europe will stimulate insulation consumption as well.
Numerous other trends will also contribute to advances in the global insulation market. Worldwide industrial output is projected to increase considerably during the 2009-2014 period, generating additional demand for insulation. Shipments of refrigerators and freezers, for example, are expected to climb almost four percent per annum. Nonresidential building construction activity and associated insulation demand are forecast to expand at a healthy pace as well. The adoption of new insulation standards for buildings, and the implementation of government programs to encourage insulation use will spur product sales in many countries.
The insulation market in North America will register the fastest growth through 2014, as product sales in the US recover. Insulation consumption in the US is expected to increase more than seven percent per year during this time, after it declined dramatically between 2007 and 2009 because of turmoil in the housing sector. The US residential segment will be responsible for nearly all insulation market gains through 2014.
More than 40 percent of all new insulation demand generated worldwide during the 2009-2014 period will be attributable to the Asia/Pacific region. Insulation consumption in the region is predicted to increase almost six percent annually through 2014 because of solid advances in fixed investment spending, manufacturing activity, and residential and nonresidential building construction expenditures. Several Asia/Pacific countries are forecast to record rapid growth, including India, China and Indonesia. China alone will account for 29 percent of all new global insulation demand between 2009 and 2014.
Source: http://www.marketresearch.com/