The thermal insulation market of the GCC region is projected to cross $975 Million by 2021.
Heat flows from one object to another by conduction, convection or radiation, depending on the physical state of the medium through which it must flow. Thermal insulation restricts this flow of heat either by reducing the thermal conduction between the objects or by reflecting the thermal radiation. In a building, thermal insulation plays a vital role in regulating the temperature, and saves it from extreme climatic conditions. Moreover, thermal insulation in building is permanent and has zero maintenance and operating cost, unlike air conditioner which has high recurring expenses.
Backed by growing construction industry, rising urbanization & industrialization and increasing disposable income, the demand for thermal insulation in the GCC region is expected to witness growth over the next five years. Moreover, greenhouse gas emission reduction, strict regulatory environment and cost efficiency delivered by these products are expected to have a positive impact on the region's thermal insulation market over the next five years. Furthermore, economic recovery as well as planned or underway infrastructure project are also expected to drive the GCC thermal insulation market during forecast period.
In 2015, Saudi Arabia was the largest demand generator for thermal insulation. In order to boost religious tourism, the Saudi Arabian government is investing heavily to develop the hospitality, retail and infrastructure sectors, which resulted in an increase in construction activities, thereby aiding the country's thermal insulation market. Segment-wise, fiberglass dominate the market, as it can be easily installed and are cost-efficient. However, the market for polyurethane foam in the GCC region is expected to outpace the rest of the thermal insulation segments in the coming years.
GCC Thermal Insulation Market report discusses the following aspects of GCC thermal insulation market: