The global active insulation market is projected to reach USD 401.9 million by 2027, and is projected to grow at a CAGR of 5.9% from 2020 to 2027, according to a new report by Million Insights. Growing demand for insulation material to maintain the internal temperature in a building structure is a key factor to drive the market growth over the forecast period. In addition, growing re-insulation in under-insulated houses in order to save energy are expected to drive market growth.
The Increasing popularity of outdoor activities like sports, yoga, workouts and cycling are expected to surge the demand for sportswear and active wear, which, in turn, support the market growth. Easy availability of active insulating materials coupled with properties such as quick-drying, stretching, and shrinking are expected to drive the market growth.
Rising consumer awareness regarding the benefits of building insulation and growing energy costs are expected to fuel the active insulation market growth in the near future. The application of building insulation products is expected to gain traction due to their properties such as recycle property, fireproof, and easy installation.
In 2019, Europe accounted for the largest market share of more than 33% in terms of volume. Favorable government norms that are supporting to use active insulation in building structure is a key factor for regional market growth. Growing production of active wear and sportswear in countries such as India and China is expected to drive the market growth in Asia Pacific during the forecast period.
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Further key findings from the report suggest:
• Glass wool product for construction and building application is projected to grow with the CAGR of 5.1% during the forecast period due to its superior insulation property coupled with ease of application in construction industry.
• In 2019, polyester segment accounted for the largest market share in textile category and was valued at 63.4 million by the end of projected year, 2027 due to its non-rich, non-allergic, and moisture handling properties.
• In building and construction application, in 2019, the EPS sub segment accounted revenue of 56.7 million and expected to witness substantial growth from 2020 to 2027.
• In sportswear application, the U.S. market was valued USD 7.1 million, in 2019 and projected to witness noticeable growth during the forecast period.
• Market players such as Economical Building Systems, Polartec; and PrimaLoft, Inc. are dominated the active insulation market and accounted for more than 65%, in 2019.
Million Insights segmented the global active insulation market on the basis of active insulation product, application, and region:
Active Insulation Product Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
• Building & Construction
• Glass wool
• Mineral wool
Active Insulation Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
• Building & Construction
Active Insulation Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• Central & South America