GCC Thermal Insulation Market growth to Grow with a robust CAGR through to 2028
Growing popularity of plastic foam as a lightweight
material in building and construction is expected to drive the GCC Thermal
Insulation Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “GCC Thermal
Insulation Market - By Country, Competition, Forecast and Opportunities,
2018-2028”, the GCC Thermal Insulation Market is expected to register robust
during the forecast period, 2024-2028.
The rural-to-urban mitigation in developing countries of the
MEA region is expected to spur building activity in urban areas, resulting in a
growing need for thermal insulation in residential buildings. Additionally,
stringent government regulations pertaining to the installation of thermal
insulation in buildings are fuelling the expansion of the thermal insulation
market in the region.
GCC governments have implemented
rigorous energy efficiency regulations and building codes to mitigate energy
consumption and carbon emissions. This presents a substantial opportunity for
thermal insulation manufacturers and service providers. Adhering to these
regulations necessitates the utilization of premium insulation materials and
solutions. Enterprises capable of delivering innovative, code-compliant
insulation products will tap into a burgeoning market.
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Thermal Insulation Market”
Based on material type, Fiberglass segment has emerged
as the predominant market leader. The fiberglass insulation sector has
witnessed significant technological advancements, resulting in enhanced product
performance. These advancements encompass innovations in fiberglass composition
and coatings, leading to materials that exhibit superior resistance to extreme
temperatures and moisture. Improved durability and thermal efficiency are
primary factors driving the adoption of fiberglass insulation. The GCC's
government regulations and energy efficiency standards necessitate the use of
insulation materials with specific performance characteristics. Fiberglass
insulation often exceeds these requirements, making it the preferred choice for
builders and contractors who must comply with these regulations. The fiberglass
insulation sector in the GCC is highly competitive, with numerous international
and regional manufacturers operating in the region. To maintain a competitive
edge, companies are investing in research and development to create advanced
fiberglass insulation products tailored to the unique needs of the market. GCC
fiberglass insulation manufacturers have the opportunity to export their products
to neighboring countries and regions that share similar climate conditions. The
demand for high-quality insulation materials extends beyond the GCC, presenting
export prospects for local producers.
Based on End Use Industry, Construction segment is
expected to grow during the forecast period. The construction segment of the
GCC Thermal Insulation Market holds significant importance and continues to
experience rapid growth. The GCC countries are currently undergoing extensive urbanization
and infrastructure development, which in turn is driving the demand for thermal
insulation solutions in residential, commercial, and industrial construction
projects. In the residential construction sector, thermal insulation plays a
critical role in ensuring energy-efficient homes that provide comfortable
living conditions throughout the year. It is commonly employed in the
insulation of roofs, walls, floors, and attics. The increasing awareness among
homeowners regarding energy savings and indoor comfort is fueling the demand
for thermal insulation in residential buildings. Commercial and institutional
buildings, including offices, schools, hospitals, and government facilities,
require thermal insulation to meet stringent energy efficiency standards and
create conducive working and learning environments. The emphasis on green
building practices and sustainability in this sector further amplifies the
demand for high-performance insulation materials. Industrial construction
projects, such as petrochemical complexes, power plants, and manufacturing
facilities, heavily rely on thermal insulation for safety, operational
efficiency, and energy conservation. The expansion of these industrial zones in
the GCC provides significant opportunities for insulation manufacturers and
service providers catering to high-temperature insulation requirements.
Major companies operating in GCC Thermal Insulation
Market are:
- Armacell
- Knauf Insulation
- Johns Manville
- Rockwool Group
- Saint-Gobain
- Owens Corning
- Elastomeric Insulation Company
- Nafal Contracting and Trading Co.
- Saudi Rock Wool Factory
- Dolphin Insulation
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“Saudi Arabia is expected to dominate the market
during the forecast period.
Saudi
Arabia is actively promoting sustainability and green building practices.
Developers and builders are progressively embracing eco-friendly insulation
materials that align with sustainability goals and contribute to the reduction
of carbon emissions. This emerging trend presents opportunities for
manufacturers and suppliers of sustainable insulation products.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“GCC
Thermal Insulation Market By Material Type (Fiberglass, Stone Wool, Foam, Wood
Fiber and Others), By Temperature Range (0-100 °C, 100-500°C, 500°C and Above),
By End Use Industry (Construction, Automotive, HVAC, Industrial and Others), By
Country, By Competition Forecast & Opportunities, 2018-2028”,
has evaluated the future growth potential of GCC Thermal Insulation Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in GCC Thermal Insulation Market.
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