Cleveland, Ohio -- According to a new study published by the Freedonia Group, demand for insulation in China is forecast to increase 9 percent annually through 2011 to ¥2840 million ($3800 billion) due to strong building construction activity and increasing production of products that incorporate insulation materials.The report -- Insulation in China -- analyses the foamed plastics, construction and building industries.
According to the study, demand for insulation materials in residential building and the industrial and HVAC equipment markets will remain healthy as the economy continues to expand and living standards rise. Residential uses for insulation will be driven by the development of new houses, and industrial and HVAC equipment applications will be fueled by further increases in manufacturing activities and continued efforts to improve energy efficiency in manufacturing processes, said Freedonia, in a 29 Jan statement.
The report states that it expects foamed plastic to remain the largest segment and post the fastest growth through 2011 because it offers higher R-values per metre than fiberglass, mineral wool, perlite and vermiculite. The foamed plastic sector will also experience growth opportunities in construction, industrial and original equipment manufacturer (OEM) applications. Freedonia said that favorable growth prospects for insulation will exist in nonresidential building construction, and the appliance and transportation equipment markets.
Demand for insulation in appliance and transportation equipment markets will be boosted by growing production of such equipment, as well as by efforts to reduce their energy consumption, said the company.
Insulation in China is 185 pages long and costs $5100 from the Freedonia Group. To find out more please visit www.freedoniagroup.com (ss)