Insulation Materials Market Size, Share, Trends, Development by 2023

Posted by pooja on June 3rd, 2019

The increased use of insulation materials in the automotive and oil & gas industries is expected to offer significant market opportunities. Due to the large number of construction activities during the Rio Olympics and the upcoming FIFA World Cup to be hosted by Qatar in 2022, the region of Brazil and Qatar offers promising opportunities.

Latin America, Middle East and African (LAMEA) Insulation Materials Market Report, published by Allied Market Research, forecast that the LAMEA Insulation Materials market is expected to reach ,330 million by 2023, growing at a CAGR of 6.9%. Wires & cables application was the highest contributor in terms of revenue to the LAMEA insulation materials market in 2016. Brazil held the leading position in 2016, and is expected to lead in the forthcoming years, owing to the construction activities of various facilities for hosting Rio Olympics. Brazil is also expected to dominate the residential construction segment, as the country is expected to need 11.5 million new homes over the next seven years, which means it needs to build around 1.4 million homes per year, according to a study by the So Paulo Federation of Industries (FIESP), and the Brazilian Equipment and Maintenance Technology Association (Sobratema) in 2015.

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Key players profiled in the report include, BASF SE, Bayer AG, Bridgestone, Evonik Industries AG, Huntsman International LLC, Kingspan, Rockwool International A/S, and Saint Gobain.

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Joined: May 29th, 2019
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