Energy Efficiency Directives to Benefit Global Glass Wool Market
The global market for glass wool is projected to reach 6.4 million metric tons by 2016 from an estimated 5.1 million metric tons in 2012, growing by a CAGR of 5.9% between 2012 and 2016, according to “Glass Wool/Fiberglass Insulation—A Global Market Overview,” a new report from Research and Markets. Glass wool/fiberglass production has been a recognized technology for some time; however, framing materials using this product are finding enhanced market recognition due to a heightened global emphasis on green applications of such products and technologies. Fiberglass has been the material of choice in several applications, including commercial and residential construction for both new and retrofit applications, which offer strength, longevity, durability, and thermal efficiency.
Though the initiation of new construction activities will continue to be sluggish in the developed economies of North America and Europe, glass wool demand in North America is expected to grow due a relatively faster recovery and in the European Union because of the imposition of new building energy efficiency directives for reducing CO2 emissions.
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