News dynamics
China's demand for insulation materials will grow year by year
Release time:
2019-10-17 11:29
The demand for insulation materials in the industrial and HVAC (heating, ventilation , and air conditioning ) equipment markets will grow by 8.4% annually over the next few years. Efforts to reduce energy consumption and costs in these applications will drive the growth of the insulation materials market.
Driven by the expanding construction and manufacturing sectors, China's demand for insulation materials will grow 9.4% annually and reach $10.56 billion this year.
According to a newly released report, foam plastics will continue to dominate the Chinese insulation materials market, accounting for more than 80% of total demand (by value) by 2019. Foam plastics will continue to drive demand growth due to their high insulation properties, good water resistance and easy installation.
Overall, the report said, “Further growth in this category will be driven by building regulations requiring reduced energy use in building applications and reduced energy consumption in production processes.”