Global Radiant Barrier & Reflective Insulation Market Expand at a Robust CAGR of 9% by the end of 2026

Albany, USA, 2018-Jun-22 — /EPR Network/ —An insightful study, titled “Global Market Study on Radiant Barrier & Reflective Insulation: Green Building Initiative to Spur Adoption in the Near Future” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This 177 page research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.

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Predominantly driven by surging demand for energy efficient passive cooling systems and evidently growing advantages of green building initiatives by several countries across the world, the global radiant barrier and reflective insulation is thriving at a significant pace. The global sales were recorded at US$ 890.7 Mn in 2017 and are anticipated to expand at a robust CAGR of 9% by the end of 2026. Over the assessment period 2018-2026, the global radiant barrier and reflective insulation market is predicted to reach US$ 1,927.0 Mn in terms of value.

The market for radiant barrier and reflective insulation has been categorized on the basis of type, end-use, and geographical region. By product type, reflective insulation segment is likely to win over radiant barrier segment throughout the forecast period. On the basis of regional segmentation, North America is expected to continue dominance with the maximum market revenue share, followed by South East Asia and Pacific region. By end-use industry, the market is segmented into residential, commercial and agricultural, industrial, and institutional and others. While the commercial and agricultural segment is further classified as commercial buildings, agriculture, and other commercial sectors, the industrial segment is sub-segmented into manufacturing/plant and storage facilities. Growing consumption by various end-use industries has been identified to be a major factor expected to boost the growth of market during the forecast period.

According to research, the commercial and agricultural segment will reportedly retain its dominance over others through to 2026, owing to soaring demand from animal husbandry domain. This segment is foreseen to maintain a major revenue share of over 39% in the market over the forecast period. Other commercial buildings including office buildings, retail stores, warehouses, and shopping malls are also observed to consume a substantial amount of reflective insulation materials and radiant barriers. As far as applications in agriculture are concerned, poultry houses, hog barns, dairy barns, and stables are found to generate significant demand for radiant barriers and reflective insulation materials.

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Use of radiant barriers and reflective insulation has been proved to be immensely beneficial to farmers and their livestock, as it helps in mitigating for the ‘black-globe effect’ on animals. Research indicates around 10% increase in milk production after using radiant barriers, in addition to improved conception rate among animals by almost 24%. There have been instances which reflect faster and more efficient animal growth after using radiant barriers and reflective insulation, besides reduced death loss due to extreme heat.

Industrial sector will represent the second largest segment accounting for more than 28% share of the total revenues, attributed to growing demand from factories, manufacturing units, and industrial premises, and processes such as cleaning, washing, repairing, altering, adapting, and livestock slaughtering.

Key Highlights

• By end-use industry, commercial and agricultural sector will be the fastest growing segment foreseen to expand at a robust 10.1% CAGR during 2018-2026.
• Commercial and agricultural segment will be followed by the industrial sector, which is apprehended to grow at a healthy CAGR of around 9% by 2026 end.
• Residential segment will also witness robust growth at a CAGR of over 7.5% due to steady demand from vaulted ceiling/cathedral, garage, workshops, single and multi-family units, and metal and wooden frame buildings.
• The institutional and others segment is foreseen to experience impressive growth at a CAGR of over 7% owing to a growing number of healthcare, educational, R&D, and administrative buildings, as well as sports complexes and training facilities.

Certain countries have set stringent regulations for mandatory installation of radiant barriers, which is expected to fuel market growth in upcoming years. The market has been seeing the introduction of a few innovative products, such as see-through radiant barrier for installation on windows. Bubble type reflective insulation and metallized film type radiant barrier are among the recent trends driving the sales of radiant barriers and reflective insulation materials.

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