Global Commercial Insulation Market is projected to reach USD 2,708.1 million by 2024 at a CAGR of 5.71% during the review period of 2017-2024.

Commercial insulation is used to retard the flow of heat. The quality of insulation in buildings provide higher comfort, which can be measured by R-value to provide better energy efficiency and to reduce carbon emission. Insulation materials used in commercial applications require higher R-value to provide superior adhesion to low and high temperatures. Commercial insulation are prominently used in applications, including institutional, hospitals, office buildings, malls, airports, food & beverages, residential buildings, general commercial, warehouses, lodging, and others. In 2016, office buildings, malls, and institutional applications cumulatively accounted for 43.0% of the overall commercial insulation consumption.

Key Players

Some of the key players operating in the global commercial insulation market are 3M (U.S.), Design Polymerics (U.S.), Vimasco Corporation (U.S.), Mon Eco Industries Inc. (U.S.), Henry Company (U.S.), and Polyguard (U.S.) among others.

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Global commercial Insulation consumption is anticipated to be pegged at 261.5 KT by the end of 2024, growing at a CAGR of 5.49% over the forecast period. Major factors influencing the market demand include developing infrastructure in emerging markets and need of energy efficient insulation in commercial buildings to reduce carbon emission/greenhouse gas (GHG) effect. Increasing demand for installation of commercial insulation is expected to influence the market growth at a CAGR of 5.71% through the forecast period, in terms of value.

Regional Analysis

Geographically, the global commercial insulation market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among these regions, North America dominated the global market in terms of consumption and production in 2017 and is expected to retain its dominance through the forecast period. In terms of value, North America commercial insulation market is projected to reach USD 872.6 million by the end of 2024, growing at a CAGR of 5.39% through the forecast period. North America market is followed by Europe and Asia Pacific, respectively.

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Segmentation

The global commercial insulation market is segmented into type, application, and region. On the basis of type, commercial insulation market is segmented into wraps/sheets, coatings, and adhesives & sealants. Wraps/sheets include aluminium foil laminate, multi-ply composite membrane, insulation jacketing tapes, polyethylene duct wrap, and others; Coating includes vapour barrier coatings, weather barrier coatings, condensation control coatings, and others; and Adhesives & Sealants includes PVC adhesives, polystyrene foam adhesives, waterbased insulation adhesives, and others. On the basis of application, market is segmented as institutional, hospitals, office buildings, malls, airports, food & beverages, residential buildings, general commercial, warehouses, lodging, and others.

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Key Market Opportunities

Need of energy efficient insulation in commercial buildings to reduce carbon emission/greenhouse gas (GHG) effect.

Key Market Drivers

Increasing demand for installation of commercial insulation is expected to influence the market growth

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