North America Spray Polyurethane Foam Market to witness remarkable returns over 2017-2024, residential walls to drive the application landscape
The competitive hierarchy of spray polyurethane foam market is all inclusive of renowned giants who have been investing heavily in novel product developments and sustainability trends. For instance, Canada based Icynene U.S. Holding Corp. and Lapolla Industries Inc., two of the acclaimed biggies of SPF market have recently inked a definitive merger agreement, where the former is reported to acquire all the significant shares of Lapolla. Reportedly the net financial transaction of the deal was valued at approx. USD 160 million, where the stakeholders of Lapolla are claimed to receive USD 1.03 in cash for each of their share. Allegedly, through the deal both the organizations are aiming to serve a wide variety of residential and commercial insulation projects across the globe with their collective product portfolio, comprised of innovative energy-conserving SPF insulation products.
Europe Spray Polyurethane Foam Market Size, by Application, 2013 – 2024 (USD Million)
The relentless proliferation of construction activities across major urbanized nations, undoubtedly has left an unparalleled impact on spray polyurethane foam market demand. The massive surge in the construction spending in tandem with increasing focus on public infrastructure by governmental organizations are the factors providing a substantial push to the exponentially expanding construction industry. In fact, as per reliable estimates, the overall construction spending crossed USD 5 trillion in 2016, and is slated to reach over USD 8 trillion by 2024. Spray polyurethane foam is basically a chemical composition, formed by two polymer based products isocyanate and polyol resins. This unique amalgamation scores them a competitive advantage over other traditional products in terms of insulation efficiency, making its application quite profound in residential and commercial construction sectors. Though still at a nascent stage, with increasing commercial popularity, spray polyurethane foam market is expected to be one of the most opportunistic business spheres of recent times.
Speaking of application matrix, the overall industry encompasses a host of opportunities across residential roofing, residential wall, commercial roofing, and commercial wall. Of late, energy crisis has become a global concern, a factor than has prompted many of these end-use sectors of SPF market, prominently residential walls, to look for alternatives that are energy efficient and environmentally viable. In fact, estimates depict, overall spray polyurethane foam industry share from residential walls recorded a revenue of USD 350 million in 2016, and is expected to record a lucrative CAGR over 2016-2024. As claimed by experts, the growth can be primarily credited to the rising energy conservation notion worldwide coupled with several other benefits like fire protection, moisture control, thermal performance, and termite control.
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SPF basically creates airtight and watertight seal directly against the substrates for eliminating the chance of any kind of air filtration, which by extension makes it highly energy efficient and sustainable. A recent report put forth by Center for Climate and Energy solutions claims that commercial and residential buildings account for almost 39% of the total energy consumption in U.S. The fact that inflow of air is one of the prime sources of energy loss in majority of the building infrastructure, sealing the buildings with thermal envelop has, of late, become a mandate to comply with the energy code. With the influx of stringent state and national building jurisdictions promoting high-end energy competency in commercial and residential infrastructure, manufacturers are increasingly inclining toward bringing energy efficient systems to limit the heat losses.
In this regard, North America has established itself as one of the most prominent avenues boosting SPF industry size. The regional growth is quite overt with the tax benefits promoting energy efficient infrastructure and supportive government regulations. In fact, standardization of several energy codes in U.S. like IECC (International Energy Conservation Code) makes it a major revenue pocket for the regional spray polyurethane foam market. Estimates depict that procuring almost 40% of the overall share, North America spray polyurethane foam industry size was almost USD 650 million in 2016. Trailed by North America, Asia Pacific is another profound region where the growth prospect of SPF market is forecast to be positively high. High GDP growth across major economies like China and India has provided a significant push to construction activities in these regions, the driving factor enhancing the regional industry trends. In 2016, APAC spray polyurethane foam industry size held a valuation of USD 400 million and is likely to garner a sizable portion of the global business space over 2017-2024.
One of the noteworthy transitions that SPF industry has been recently observing is growing consumer proclivity toward Low Global Warming Potential (GWP) blowing agents. Honeywell, one of the most renowned names in the spray polyurethane foam market, has already established strong grounds in the North America with the commercialization of LGWP products. With ongoing product innovations leading to a versatility in application matrix and the relentless efforts of the industry players to address the energy efficiency and sustainability trends, spray polyurethane foam market size is forecast to exceed a valuation of USD 2.5 billion by 2024.
Author Name : Satarupa De
Lubricant Packaging Market to garner sizable returns from the automotive sector, sustainability notion to drive the industry landscape over 2017-2024
The competitive hierarchy of lubricant packaging market in inclusive of renowned biggies that have been investing heavily in novel product developments to enhance the flexibility of packaging. For instance, a leading manufacturer and provider of branded commercial, industrial, and automotive lubricants, Valvoline Inc., has revealed its latest innovation in lubricant packaging industry, titled ‘the Easy Pour Bottles’. The design can apparently change the oil in much quicker a cleaner manner than its contemporaries, on the grounds of which Valvoline Inc., aims to quickly commercialize the product across lubricant packaging market. In a bid to accomplish the same, the company had actually developed the product alongside consumers. Valvoline’s initiative highlights the appreciable developments prevalent in lubricant packaging industry, prominent among them being, the efforts taken by companies to design products as per consumer requirements. Moreover, lubricant manufacturers are also working continuously to incorporate barrier properties in the packaging materials to maintain the integrity of high-performance lubricants, engine oils, and fuel additives. Estimates claim that in 2016, lubricant packaging market size was pegged at a revenue of USD 11 billion.
U.S. lubricant packaging market size, by packaging, 2013 – 2024 (USD Billion)
The exponentially growing automotive domain is one of principal end-use sectors that would considerably influence the revenue graph of lubricant packaging industry, subject to the increasing deployment of lubricants for enhancing engine performance. According to CalRecycle, in 2010, the consumption of lubricants for internal combustion engine applications was 9.7%, while DOT/FHA reported that automobiles across California had accounted for 13.7% of the total U.S. gasoline consumption. Unquestionably, to fulfill this substantially huge demand for lubricants, manufacturers have been increasingly installing lubricant packaging machines, which would help optimize the performance of handling processes such as filling, weighing, and sealing. In fact, considering the surging adoption of automobiles, Global Market Insights, Inc., estimates that lubricant packaging market would account for massive proceeds from automobile applications. The firm claims lubricant packaging industry size from automobile applications to grow at a rate of more than 3.5% over 2017-2024.
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Speaking of the numerous product innovations underlining lubricant packaging market, Fuchs, one of the many renowned lubricant manufacturers, in the beginning of Q3 2017, invested in new packaging machines, owing to the rise in the demand for its Lube Cube lubricants. The firm is also using smart alternative to rigid plastic bottles, which is entirely recyclable and easy to store. With this investment, it is expected that the commercialization scope of green products would soar greater heights, since they reduce disposal costs to quite an extent. Speaking of which, the competitive spectrum of lubricant packaging market is inclusive of renowned biggies such as Schultz Lubricants, Inc., Greif, Inc., Scholle IPN, Nye Lubricants, Time Technoplast Ltd., Mold-tek Packaging, Mauser, Balmer & Lawrie, Glenroy, and BWAY.
The rising awareness about the hazardous impact of industrial wastes on the environment has prompted most of the players in lubricant packaging industry to shift their focus on eco-friendly packaging. On these grounds, it has been observed that the latest trend proliferating this business space is that of lubricant pouches, that are designed to be rather eco-friendly, especially when compared to their plastic counterparts. Furthermore, these pouches generate less carbon emissions, produce commendably less landfill waste, and lead to a significantly high product-to-package ratio. In consequence, major players in lubricant packaging market have been striving to manufacture newer pouches endowed with an even more appreciable range of environment-friendly benefits. Driven by a considerably strict regulatory landscape, in tandem with the numerous efforts undertaken by industry giants, lubricant packaging market size has been forecast to surpass a valuation of USD 15 billion by 2024.
Author Name : Sunil Hebbalkar
An inherent realm of the mainstream construction sphere, roofing underlayment market is likely to garner massive acclaim in the forthcoming years. This prominence can be primarily attributed to the robustly expanding construction sector across the globe, subject to the housing requirement for the ever-growing population. Adhering the need for strong roofing components for residential homes, companies partaking in roofing underlayment industry share have been religiously adopting tried-and-tested as well as novel business growth tactics to manufacture a range of products that would prove beneficial for home construction. For instance, a year ago, Owens Corning, one of the most prominent roofing underlayment market players, inked a deal with the Canada-based roofing underlayment manufacturer, InterWrap, for a valuation of USD 450 million. The transaction, post receiving regulatory clearance, attained closure in the second quarter of 2016, and is expected to prove mutually beneficial for both the parties. While InterWrap’s brands would help Owens expand its presence further in roofing underlayment market, the latter’s innovations in building technology is expected to help InterWrap penetrate newer markets and expand its consumer base. The agreement was touted by experts to be one of most reciprocally advantageous deals of 2016 witnessed in roofing underlayment industry.
U.S. roofing underlayment market size, by application, 2013 – 2024 (USD Billion)
How roofing underlayment market would capitalize on natural catastrophes
A vital factor that has come to the fore lately, is the critical role that roofing underlays play in hurricane-prone areas. Residential homes in coastal regions, often prone to storms and hurricanes, necessitate the requirement of strong roofing components to sustain the hazardous weather calamities. Hurricane Irma, for instance, a category 5 hurricane, had fiercely destroyed the British Virgin Islands with a rather palpable retribution, damaging several coastal properties. While the destruction scale was being compiled, it was noted that the cost to repair damaged roofs accounted for most of the overall repair expenditure. On these grounds, it was suggested that the building codes be modified to sustain storms and other calamities, which has provided a rather lucrative avenue for roofing underlayment market players.
Hurricane Irma also prompted several companies partaking in roofing underlayment industry share, to come up with a range of strong, hurricane-proof underlays and related components. In consequence, the 3 in 1 Construction company introduced the 3 in 1 Roof – embossed with a patented, easily installable 100% durable foam embodiment inclusive of renewable solar modules, with a foam core that protects underlays from hot and cold temperature cycles. The company aims to popularize its star product across roofing underlayment market, to the extent of wanting every value oriented homeowner to choose 3 in 1 Roof as their sole option for re-roofing.
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The Alabama-based Mid-States Asphalt is another unique firm that specializes in manufacturing innovative underlays. The company’s products, with proper installation, prevent water intrusion even in the harshest weather. Taking cue from their contemporaries, pivotal players in roofing underlayment market such as Carlisle Companies, DuPont, GAF Materials, Atlas Roofing, and CertainTeed Corporation have been observed to have brought about changes in their product manufacturing strategies as well.
The Association focusing exclusively on underlays
Roofing underlayment industry, being an essential vertical of the construction sphere, is governed by the laws applicable for this rapidly expanding sector. However, recently, four major roofing companies aiming to expand the reach of roofing underlayment market in the overall construction space and manufacture cutting-edge underlayment products for building envelope applications, have formed the Asphalt Underlayment Council (AUC). This association, the first of its kind, focuses exclusively on underlays and identifies the need for a council that helps standardize the quality and performance of underlayment products. In the years to come, this association would focus on bringing forth regulatory issues to the fore by means of outreach programs and educational initiatives, that would have a considerable impact on the overall roofing underlayment industry trends.
With substantial rise in the requirement for building components across residential and commercial spaces, roofing underlays are expected to register extensive demand in the years to come. As the competition in roofing underlayment market soars to superlative heights, companies constituting this combative business space would be seen adopting highly strategic measures to sustain their position. Furthermore, with the masses being more aware of the significance of roofing components in construction, it is expected that consumers would exercise caution and mandatorily install high-grade roofing underlays for their homes, which would augment roofing underlayment industry to quite an extent. Driven by the dire need for these components across coastal areas, in the face of hazardous climatic mishaps, and the adoption of building codes by contractors for installing flame-resistant and water-resistant underlays in commercial zones, roofing underlayment market size has been forecast to surpass a valuation of USD 45 billion by 2024.
Author Name : Saipriya Iyer
North America Leisure Boat Marine Coatings Market to amass sizable proceeds over 2017-2024, Global industry to hit USD 1.9 billion by 2024
Inherently influenced by leading-edge technologies in the coatings domain, leisure boat marine coatings market stands to gain much in the ensuing years, driven by escalating demand for luxury vessels in recent times. The business space is rather competitive, on the grounds of which companies have been going the whole hog to stabilize their position in the industry. The Sherwin-Williams Company for instance, has recently prepped up its product portfolio to consolidate its presence across leisure boat marine coatings market. The firm’s SHW Protective & Marine Coatings unit launched the Zinc Clad 4100, a new high-solids coating that is inclusive of features such as short recoat time, which is slated to enable better project schedules, accelerated shop throughput, and quick field project turnarounds. Designed to be used exclusively for barges, ships, boats, drilling rigs, and refineries, the Zinc Clad 4100, as per experts, is likely to disrupt the product landscape of leisure boat marine coatings market. It is also prudent to mention that The Sherwin-Williams Company acquired Valspar, a Minnesota-headquartered paints and coatings major, toward the end of Q2 2017, for a valuation of more than USD 11 billion, thereby consolidating its presence in leisure boat marine coatings industry.
U.S. Leisure Boat Marine Coatings Market Size, by Product, 2013 – 2024 (USD Million)
Companies have brought forth a barrage of breakthroughs in coating technology, which has considerably influenced the revenue scale of leisure boat marine coatings market. A few years back, for example, Nanotech Marine Services Limited applied the Nano-Clear® Coating, produced by Nanovere Technologies, on Queen Elizabeth Ship in the UK as a part of its coating application trials. The main objective of the trial was to offer a durable solution for the gel-coat oxidation problem faced by lifeboats – apparently, the coatings on these boats faded away within a brief period due to constant exposure to UV radiations. As a part of its experiment, the company applied the new product on the gel-coated surface and left it aboard the water vessel. Surprisingly, the surface coated with Nano-Clear® did not exhibit any degradation in its color or glossiness features due to oxidation. The successful outcome led to Nanotech securing the lead for the restoration of eighteen Queen Victoria lifeboats, while simultaneously augmenting the popularity of the Nano-Clear® Coating in leisure boat marine coatings market. Recently, in 2016, the firm exploited this upgraded technology to complete the restoration of twenty-four lifeboats for the Queen Mary 2 in Hamburg, Germany as well.
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Speaking in terms of regional trends, North America is forecast to contribute more than 25% towards the overall leisure boat marine coatings industry size over the coming seven years. The presence of large coastal areas coupled with the numerous leisure boating activities taking place across the region can be principally credited for the growth of North America leisure boat marine coatings market, which, as per analysts, is set to record a CAGR of over 6.5% during 2017 to 2024. Canada and the U.S. are likely to emerge as the key revenue pockets for this region.
The Asia Pacific region would be particularly impelled on the grounds of the robustly expanding tourism sector in the region. Countries such as Japan, China, Australia, Hong Kong, Indonesia, Malaysia, and Thailand, famous as tourist destinations, have necessitated the demand for luxury ships and barges, which would help augment the regional leisure boat marine coatings industry.
The competitive landscape of leisure boat marine coatings market is inclusive of biggies such as The Sherwin-Williams Company, Axalta Coating Systems, AkzoNobel N.V., and Nippon Paints. These behemoths have been striving to expand their product lines by manufacturing eco-friendly products while simultaneously improving their product performance. Global Market Insights, Inc., claims leisure boat marine coatings market size to cross a valuation of USD 1.9 billion by 2024.
Author Name : Dhananjay Punekar
Non-protein nitrogen in feed market to surpass the billion-dollar benchmark by 2024, Urea to drive the product matrix
Endorsing a wide application scope in fodder business space, the profitability quotient of non-protein nitrogen in feed market is projected to substantially upscale in the coming years. Over the past few years, animal nutrition has managed to grab a bigger role than anticipated. Manufacturers across the world have been increasingly investing in R&D activities to develop a palate of new protein sources which expectedly would widen up the non-protein nitrogen in feed industry opportunities. In this regard, it is prudent to mention that protein-rich leguminous fodders are usually not extensively grown in many areas, which are prone to attack by ruminants, as they are comparatively more expensive than non-protein nitrogen sources. The growth of non-protein nitrogen in feed industry can be fundamentally credited to this factor. Global Market Insights Inc., forecasts the overall non-protein nitrogen in feed market size to record a valuation of over USD 1 billion by 2024.
U.S. Non-protein nitrogen in feed market, By Product, 2013-2024, (Kilo Tons)
Speaking of commercialization potential of non-protein nitrogen in feed industry, it is nothing but enormous. The increasing consumption of meat bears an evidence to the fact. As per estimates by WHO, annual meat production will surpass 376 million tons by the end of 2030, which is an exceptional rise from that recorded in the year 1999- 218 million tons. The world population presently consumes 75 pounds of meat per person annually, as cited by the Organization for Economic Cooperation & Development. The sharp incline in the meat consumption has undoubtedly left a perpetual impact on the demand for non-protein nitrogen in feed market. A recent report brought forth by U.S. Food and Agriculture Organization claims that global meat production will be 16% higher in 2025, from that what it recorded over 2013-2015. These statistics quite profoundly depicts the increasing pressure on livestock breeding to address the increasing demand for animal nutrition, indirectly leaving a subsequent impact on non-protein nitrogen in feed market share.
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The most common non-protein nitrogen source which is extensively deployed in ruminant feeding is urea. Though there are other sources that have been experimentally and commercially deployed, urea holds quite a prominent position in the global industry landscape. Estimates depict, overall non-protein nitrogen in feed market share from urea accounted for a revenue of USD 550 million in 2016. Some of the prime factors that have driven non-protein nitrogen in feed market share from urea include higher nitrogen content of almost 46.7%, reduced live weight loss, low cost, and increased intake of dry roughage. In addition to this, being the building blocks of non-protein sources, it can be easily fed to ruminants as a replacement for a part of protein in a ration. The ability of micro-organisms present in the rumen of sheep and cattle to utilize these non-protein sources or urea eradicates the requirement of imported protein supplements, with no hazardous impact on animal health. Having procured almost 75% of the overall non-protein nitrogen in feed industry share, urea is slated to drive the product landscape in the coming years. However, urea toxicity and stringent regulatory framework pertaining to its production in some areas might hamper the industry growth to some extent.
However, changing healthcare dynamics and food preferences are some of the pivotal factors providing a significant push to the global non-protein nitrogen in feed industry trends. In this regard, Asia Pacific has established a strong foothold in the worldwide fraternity, with increasing proliferation of advanced technology for effective synthesis of protein from non-protein sources. In fact, estimates claim a humongous portion of urea to be consumed in Asian countries like India, China, and Japan, to maintain and boost livestock health and nutrition, particularly ruminants. A subsequent rise in research investments from international producers as well as spreading awareness regarding the usage of nutritious forage has led APAC non-protein nitrogen in feed industry size to record a valuation USD 400 million in 2016. The exponential rise in the livestock population over the past couple of years will certainly propel the regional market demand to great heights in the years ahead.
Worldwide, non-protein nitrogen in feed industry encompasses a host of renowned biggies including Yara International ASA, Incitec Pivot, Archer Daniels Midland Company, The Potash Corporation of Saskatchewan, and Borealis. The marketplace seems to be pretty much consolidated with leading giants’ relentless effort in strengthening their business position by underlying various growth strategies such as joint ventures, product differentiation, production capacity expansion etc. An upswing in global meat production, subject to its increased consumption undeniably remains one of the principal factors driving non-protein nitrogen in feed market size. Moreover, the expansion in supply chain and technological advancements with regards to product manufacturing are further expected to carve a lucrative roadmap for non-protein nitrogen in feed industry over the ensuing years.
Author Name : Satarupa De
Alpha Hydroxy Acid (AHA) Market to amass substantial revenue from skin care and cosmetics applications over 2017-2024
The presence of a stringent regulatory landscape is undeniably one of the pivotal factors driving alpha hydroxy acid (AHA) market. Strategic initiatives undertaken by authorized bodies form an essential crux of AHA industry growth, given that the product may have adverse effects when deployed in excess. The U.S. Food and Drug Administration (FDA), for instance, in 2005, circulated essential guidelines for cosmetic producers using alpha hydroxy acids in their products as a main ingredient. FDA’s intent behind drafting these directives was to spread awareness among consumers regarding the potentially harmful impact of cosmetics containing excess AHAs on the skin and to instruct manufacturers about incorrect product labelling. Considering the benefits of AHA for cosmetics and skin care products however, the FDA has also conducted research programs regarding their safety, thus validating that the initiatives undertaken by pivotal regulatory bodies do have an impact on AHA market. For instance, the organization has collaborated with the NTP (National Toxicology Program) to the evaluate the safety of long-term AHA usage, the results of which would substantially impact product sales, thereby augmenting alpha hydroxy acid industry share positively over the years ahead.
U.S. Alpha Hydroxy Acid Market, By Product, 2013-2024, (Kilo Tons)
In a bid to promote safe usage of cosmetic products, the FDA has also recommended few guidelines for consumers and manufacturers as follows,
- The PH of final product should be greater than or equal to 3.5
- The final product must be formulated to protect the skin from sun sensitivity.
- The concentration of AHA must be equal to or less than 10%
The deployment of abovementioned directives has positively impacted the alpha hydroxy acid industry share. As per estimates, in 2016, alpha hydroxy acid (AHA) market generated a revenue of USD 1.5 billion.
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The popularity of AHA-based skin creams has been increasing tremendously of late, owing to their benefits of wrinkle and photoaging effect reduction. It has been observed that alpha hydroxy acids are also being used as common additives in various skin care products such as toners, cleansers, moisturizers, and masks. Additionally, the growing prevalence of dry skin diseases such as xerosis and pregnancy scars has fueled the product demand, thereby impelling AHA market size from skin applications, pegged at USD 400 million in 2016.
The robust demand for AHA cosmetics can be principally credited to its noteworthy benefits, which have a key role to play in impelling alpha hydroxy acid market outlook. Some of these transformative benefits have been outlined below:
- Skin Lightening Effects: Alpha hydroxy acids help reduce skin discoloration and hyperpigmentation generated on face due to scars, sun damage, and other health issues, thereby improving facial appearance. The rising awareness among consumers regarding their personal looks will consequently stimulate alpha hydroxy acid industry trends in the ensuing years.
- Fewer Wrinkles: The University of Maryland Medical Center has discovered that AHA is endowed with the capability to minimize wrinkles and surface lines on face, in addition to removing the damaged skin layer of skin and allowing cell regrowth. This would substantially augment product demand and sales, thereby stimulating AHA market size.
Considering the rapidly increasing demand for skin care and cosmetic products, the renowned giants in alpha hydroxy acid (AHA) market such as Mehul Dye Chem Industries, Airedale Chemical Company, Dupont, Dow chemical, H Plus Ltd., Crosschem, Parchem, and Ava Chemicals are focusing on the development of a rather novel product range. Several players across U.S. AHA industry, it is observed, are heavily investing in research and development activities with regards to the same. The involvement of regulatory bodies in addition to the initiatives by industry participants is thus likely to augment alpha hydroxy acid market size, slated to cross USD 3 billion by 2024.
Author Name : Sunil Hebbalkar
Underfloor Heating Market to accrue massive proceeds via residential & commercial applications over 2017-2024
The recent deal between Jupiter Heating Systems and New Era Floor Systems highlights the developments prevalent in underfloor heating market. The strategic agreement, that was formally announced in the March of 2017, was focused on the development of a new underfloor heating system within a batten & cradle structure, that would be amply deployed across numerous end-use domains. The rising preference for underfloor heating across the high end residential ventures has thus necessitated the requirement of a lightweight solution without compromising on the quality of the design. The new launch by Jupiter Heating Systems and New Era Floor Systems precisely functions alongside these expectations, and has been predicted to considerably boost underfloor heating market trends.
U.S. Underfloor Heating Market by Application, 2016 & 2024 (USD Million)
Over the past few years, the demand for underfloor heating (UHF) systems has been substantially escalating, prompting companies to build new systems for retrofit applications. These systems, which are built to operate at lower temperatures as compared to radiator systems, have found wide applications in boilers and heat pumps. Their favorable features such as low power consumption and heating costs are subsequently expected to upsurge the product demand, favoring underfloor heating market expansion.
It is prudent to note that heated floors distribute heat uniformly across each room and warm the room space through an accurate combination of heat conduction and radiant energy. In a modern, well-insulated house, UFH systems act as a primary tool for heat distribution and eliminate the requirement of radiators, on the grounds of which they are extensively used across residential, commercial, and industrial sectors. The robustly rising need to improve air quality and comfort level will in fact, particularly help augment product demand across the commercial sector, inherently impelling the overall underfloor heating market share.
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In the light of the current energy efficiency scenario, it is noteworthy to mention that the rising ecological concerns leading to the rampant use of energy efficient heating systems and the need to reduce power costs will raise the popularity of underfloor heating systems. For instance, in 2016, homes in the European Union contributed nearly 79% towards the overall power consumption through the extensive use of heating systems. The massive deployment of these products in the residential sector is rather overt from the estimates – underfloor heating market size from residential applications is set to record an annual cumulative growth of 7% over the coming seven years.
Underfloor heating industry has been gaining critical acclaim across myriad geographies. The stringent deployment of legislations such as the American Energy Efficiency Act, 2015, to promote power efficiency practices is expected to substantially drive the development of U.S. underfloor heating market. As per estimates, the regional industry is projected to generate a revenue of over USD 1 billion by 2024.
Germany is another emerging lucrative spot for underfloor heating market growth. The participation of governmental bodies is a major driving force for Germany underfloor heating market. For instance, the launch of initiatives such as the Energy Saving Ordinance (EnEV) by the German government to reduce carbon footprints is forecast to upsurge underfloor heating industry size across the region. Analysts claim the Germany underfloor heating industry to record a CAGR of 6% during 2017 to 2024.
China, which contributed over 30% toward the regional underfloor heating industry share in 2016, is predicted to experience a lucrative growth over the years to come. Rise in green building constructions in conjunction with China’s eleventh five-year plan is anticipated to fuel the product demand across the region.
Honeywell International Incorporation, Schneider Electric SE, Bosch, Siemens AG, The Mitsubishi Group, and REHAU are some of the reputed firms that have made their presence felt across underfloor heating industry. These players, it has been observed, have been coining new growth strategies that may substantially augment the revenue graph of this business space. Driven by the launch of contemporary technologies in heating systems, underfloor heating market size is likely cross a valuation of USD 8 billion by 2024.
Author Name : Dhananjay Punekar