GCC Thermal Insulation Market to Cross $975 Million by 2021

Extreme climatic conditions, favourable government policies and growing construction industry to propel GCC thermal insulation market over the next five years

According to a recently published TechSci Research report “GCC Thermal Insulation Market By Type, By Application, By Country, Competition Forecast and Opportunities, 2011 – 2021”, the thermal insulation market of the GCC region is projected to cross $975 Million by 2021. As of 2015, construction projects worth USD1.30 trillion are in the pipeline in the GCC region. With increasing investments in construction of projects pertaining to sectors such as power, oil & gas, chemicals, etc., the demand for thermal insulation in the region is expected to grow at a healthy pace during 2016-2021.

Browse 33 market data Tables and 42 Figures spread through 177 Pages and an in-depth TOC on  " GCC Thermal Insulation Market"

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Owing to limited natural water resources, the GCC nations are heavily dependent on water desalination to cater the growing demand for water. Since the demand for water has outstripped the availability in the GCC region, desalination of seawater provides a substantial portion of the region’s fresh water needs. In 2014, desalination plants in the region have a total capacity of over 26 million cubic metre of water per day, which is equivalent to 36% of global capacity in the same year. As desalination consumes considerable amounts of energy, extensive thermal insulation is required on appliances and piping, thereby aiding its market in the GCC region.

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Saudi Arabia dominated the GCC thermal insulation market during 2011-2015, and the same trend is anticipated to continue over the next five years as well. Saudi Arabian government plans to build around 5,00,000 housing units in the country over the next five years by investing around USD68 billion to ease housing shortage in the country. Further, ongoing commercial constructions like King Abdul-Aziz International Airport are expected to drive the demand for thermal insulation in the Kingdom through 2021. Fiberglass was the most preferred type of thermal insulation material in the GCC region in 2015.

“Per capita electricity consumption of the GCC nations is higher than the world average. Over the next few years, GCC nations are anticipated to emerge as the world leaders, in terms of per capita energy consumption. Oman, which accounts for the least per capita electricity consumption among the GCC nations, has almost twice the global average of per capita electricity consumption. The ability to reduce the energy flow across another material makes thermal insulation the key measure for energy saving.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Per Capita Electricity Consumption of GCC Countries, 2015 (Megawatt-hour Per Person)

“GCC Thermal Insulation Market By Type, By Application, By Country, Competition Forecast and Opportunities, 2011 – 2021”, has evaluated the future growth potential of GCC thermal insulation market and provided statistics and information on market structure, industry behaviour and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in GCC thermal insulation market.

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