Building Thermal Insulation Market worth USD 40.64 billion by 2028, registering a CAGR of 5.34% - Report by Market Research Future (MRFR)

New York, UNITED STATES


New York, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Building Thermal Insulation Market Overview: According to a comprehensive research report by Market Research Future (MRFR), Building Thermal Insulation Market Research Report: By Material Type (Wool Insulation [Glass Wool, Stone Wool], Plastic Foams [Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), Phenolic, Polyurethanes (PU)] and others), Application (Wall Insulation [Internal Wall, External Wall, Air Cavity Wall], Roof Insulation [Flat Roof, Pitch Roof] and Floor Insulation), End-Use (Residential, Non-Residential and Industrial) and Region (Asia-Pacific, Latin America, North America, Europe and Middle East & Africa) - Forecast till 2028the market size is projected to be worth USD 40.64 billion by 2028, registering a CAGR of 5.34% during the forecast period (2021 - 2028)., The market was valued at USD 29.75 billion in 2021.

Market Competitive Landscape:

List of the leading companies in the global building thermal insulation market profiled are:

  • BASF SE
  • Rockwool International A/S (Denmark)
  • Paroc Group Oy
  • Knauf Insulation Inc.
  • GlassRock Insulation Company SAE
  • Kingspan Group Plc.
  • Owens Corning Corporation
  • Lloyd Insulations Limited
  • Johns Manville Inc.
  • Saint-Gobain SA


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Market Scope:

Thermal insulation in buildings is used to reduce the amount of energy required to heat or cool a dwelling, as well as to minimize heat loss in the winter and hot air penetration in the summer. In 2016-2017, this market experienced yet another year of consistent expansion with an upward trend. The rise of the construction sector, particularly in areas such as South America and Asia Pacific, aided in keeping global sales in a positive position for the market. The building industry has maintained product demand from some of Asia's fastest-growing countries.

Because the sector is capital-intensive, it takes a long time, a lot of money, and a lot of planning to get started and stay in business. A number of new entrants are projected to be attracted by favorable government regulations combined with increased regulatory support. The market's highly fragmented nature is expected to promote new entrants.

Market USP Covered:

Market Drivers:

Growing demands in residential applications is likely to boost the market over the forecast period, owing to rising energy costs and the importance of energy conservation. Furthermore, it is expected that government actions to promote energy efficient operations will improve product demand. Additionally, the increased research and development spending to develop transparent insulation technology to give thermal insulation materials a better visual appeal is projected to enhance product uptake. Furthermore, the development of vacuum insulation panels as a cost-effective alternative for residential applications is projected to boost the market for building thermal insulation.


Browse In-depth Market Research Report (185 pages) on Building Thermal Insulation Industry

https://www.marketresearchfuture.com/reports/building-thermal-insulation-market-1543


Market Restraints:

One of the primary concerns that is impeding market expansion is the inconsistency of raw material availability and price fluctuations.

COVID-19 Analysis:

The COVID-19 global outbreak has resulted in a drop in economic growth due to a drop in consumer expenditure and business closures. As the coronavirus spreads over the world, it has damaged a variety of businesses and practically every element of the supply chain, including the construction industry. Construction activity has been halted in a number of towns and regions, which is expected to have an immediate impact on the business.

Market Segmentation:

Based on material types, the plastic foam segment has the biggest market share. Because of its increased heat resistance (R-Value), versatility, robustness, and life span, the market for plastic foam is expected to grow. Its expansion is also fueled by rising demand in regions such as Asia Pacific and Europe.

By application, in terms of both value and volume, the wall insulation application segment led the building thermal insulation market. The demand for wall insulation is driven by the increased demand for energy efficient structures and the highest loss of energy through walls in a building.

By end-user, building thermal insulation was dominated by the residential building type segment. This is because the property market in countries like the United States, Germany, and China is booming. Furthermore, the need for thermal insulation in residential buildings is driven by increased awareness of energy efficient structures and growing energy costs.


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Regional Insights:

Europe is the leading gainer in the global market, and this is expected to continue throughout the forecast period. Due to strict regulations implemented by organizations such as the REACH, which encourage the use of thermal insulation in buildings to reduce total energy consumption, the market for building thermal insulation will continue to grow rapidly.

The value of the building thermal insulation market in Asia-Pacific will continue to grow at the quickest rate. With significant government assistance, the region is seeing a remarkable increase in the number of construction activities, which has boosted product demand to a large extent. In addition, the region's growing population, combined with rising GDP, has increased the number of residential and commercial structures, driving up demand for thermal insulation materials. Given the strong presence of numerous government agencies such as the LEED and the USGBC, the rise of the building thermal insulation market in North America has also been spectacular. These organizations are working to increase the use of high-quality insulating materials in buildings in order to reduce carbon emissions and improve overall sustainability.

Segmentation of Market covered in the research:

Building Thermal Insulation Market Research Report: By Material Type (Wool Insulation [Glass Wool, Stone Wool], Plastic Foams [Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), Phenolic, Polyurethanes (PU)] and others), Application (Wall Insulation [Internal Wall, External Wall, Air Cavity Wall], Roof Insulation [Flat Roof, Pitch Roof] and Floor Insulation), End-Use (Residential, Non-Residential and Industrial) and Region (Asia-Pacific, Latin America, North America, Europe and Middle East & Africa) - Forecast till 2028


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