New chances for the insulation material industry

With the help of our national policies, China’s insulation material industry is getting more new developing chances recent years. The market’s scale of China’s insulation material industry will beyond 175 billion yuan and the compound annual growth rate will reach 12% by 2022. There is a promising future in this filed.

In terms of market, China’s insulation material industry has developed a lot in the past few years. In 2010, the market’s scale of China’s insulation material industry was about 25.07 billion yuan. In 2016, its scale reached 80.46 billion yuan and the compound annual growth rate reached 21.45% .

In respect of demand and supply, China output 6.23 million tons insulation material and consumed about 5.973 million tons insulation material in 2016, which got promoted a lot than last year.

In 2016, about import and export business, China’s trade volume of both import and export is 420 billion dollar. Compared to 2015, this volume declined 7.65 percent in 2016, including 75.8732 million dollars about importing business and 344 million dollars about exporting business. Our trade surplus reached 268 millions dollars.

Generally speaking, we have a good promising future in this insulation material industry. We can expect that the market’s scale will get 175.9 billion yuan by 2022.