THERMAL INSULATION MATERIALS Thermal insulation materials are used to limit the flow of heat energy between two temperatures. The global Thermal Insulation Materials Market is projected to reach US$ 70 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.2% during the forecast period (2019 to 2027).
Normally, heat flows from high to low temperatures.
Thermal insulation material provides insulation in which radiant heat is reflected rather than absorbed.
Fiberglass, stone wool, and plastic foam are examples of common thermal insulation materials.
Buildings, clothing, mechanical systems, natural animal insulation, spacecraft, and automobiles all use these materials.
Aluminum cladding is used to cover fibreglass material used in industrial applications.
It aids in extending the duration of thermal comfort without relying on mechanical air-conditioning, particularly during inter-seasonal periods, in the construction industry.
GROWTH DRIVERS
The Indian government's increased spending on the construction industry is primarily driving the market growth of thermal insulation materials.
According to the India Brand Equity Foundation, private equity and venture capital investments in India's infrastructure sector totaled US$ 1.97 billion in 2018.
As a result, rising government investment is expected to boost market growth over the forecast period.
Companies
involved- Saint-Gobain S.A., Kingspan Group, Dow Chemicals Company, Asahi Kasei Corporation, BASF SE, Owens Corning, Bayer AG Rockwool International, E. I. du Pont de Nemours and Company, and Berkshire Hathaway.
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more insights, visit- https://cmilatestreportorientedblogs.blogspot.com/2022/ 08/thermal-insulation-materials-market.html
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