Pune, India, March 06, 2023 (GLOBE NEWSWIRE) -- The building thermal insulation market size was USD 29.85 billion in 2021. The market is projected to grow from USD 31.15 billion in 2022 to USD 42.53 billion in 2029 at a CAGR of 4.5% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Building Thermal Insulation Market, 2022-2029.
Factors such as the ability to reduce energy consumption in buildings and provide supplementary support to the building structure will boost the growth of the market during the forecast period. Also, the rising adoption of Do-it-Yourself (DIY) insulation projects will increase the footprint of the market. The report provides a detailed understanding of the competitive landscape, market drivers, challenges, and opportunities, as well as the key growth factors that will drive market expansion in the forecast period
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List of Key Players Present in the Market
- Knauf Insulation (U.S.)
- Owens Corning (U.S.)
- Armacell S.A. (Luxembourg)
- Beijing New Building Material (Group) Co., Ltd. (China)
- Evonik (Germany)
- PT. Bondor Indonesia (Indonesia)
- BYUCKSAN (South Korea)
- Kingspan Insulation LLC (Ireland)
- Lloyd Insulations (India) Limited (India)
- NICHIAS Corporation (Japan)
- ROCKWOOL International A/S (Denmark)
- U.P. Twiga Fiberglass Limited (India)
- GAF (U.S.)
- BASF (Germany)
- Atlas Roofing Company (U.S.)
- Cellofoam North America Inc. (U.S.)
- DuPont (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 4.5% |
| 2029 Value Projection | USD 42.53 Billion |
| Report coverage | Revenue forecast, company profiles, competitive landscape, growth factors and latest trends |
| Building Thermal Insulation Market Size in 2021 | USD 29.85 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 150 |
| Segments Covered | By Material, By Application and Regional |
| Building Thermal Insulation Market Growth Drivers | Increasing Building & Construction Sector and Rising Energy Expenditure to Bolster Growth |
| Asia Pacific to Witness a Dominant Market Share due to Strict Regulations Regarding Energy Usage |
Segments
The building thermal insulation market can be segmented into various categories based on different criteria. Here are some of the common ways to segment the market:
- Material Type: Building thermal insulation materials can be segmented into various types such as fiberglass, mineral wool, cellulose, foam, and others.
- Application: Insulation materials can be used for various applications such as walls, roofs, floors, and others.
- End-use Industry: The market can also be segmented by the end-use industry such as residential, commercial, and industrial buildings.
- Geographical Region: The market can be segmented by geographical region such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Product Type: The market can also be segmented by product type such as batts, rolls, blown-in, and others.
- Building Type: The market can be segmented by building type such as new construction and renovation.
- Thermal Conductivity: The market can also be segmented by thermal conductivity such as low, medium, and high.
These are some of the common ways to segment the building thermal insulation market. Depending on the research objective and scope, the segmentation criteria may vary.
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Report Coverage
The Building Thermal Insulation market report offers major growth drivers, restraining factors, opportunities, and potential challenges for the market. Comprehensive insights into regional developments are explained in-depth in the study. It also includes a list of major market players as well as strategies adopted by them to stay ahead of the competition. The latest industry developments such as product launches, partnerships, mergers, and acquisitions are listed in the report. The study also offers a detailed understanding of the recent COVID-19 pandemic on the Building Thermal Insulation market.
Drivers & Restraints
The global building thermal insulation market has been experiencing significant growth in recent years due to several drivers and factors. Here are some of the drivers and restraints of the building thermal insulation market:
Drivers:
Energy efficiency regulations: Governments and regulatory bodies across the world are implementing strict energy efficiency regulations to reduce carbon emissions and curb global warming. These regulations mandate the use of insulation in buildings, leading to an increase in demand for thermal insulation products.
Growing construction activities: The rise in construction activities, especially in emerging economies, is fueling the demand for thermal insulation products. This is because new construction projects often require the use of insulation materials to meet energy efficiency regulations.
Increasing awareness about energy conservation: Consumers and building owners are becoming more aware of the benefits of energy conservation and are willing to invest in energy-efficient solutions such as thermal insulation.
Restraints:
High initial cost: The high cost of thermal insulation products is a significant barrier to adoption, particularly for low-income households and small businesses.
Lack of awareness: Despite increasing awareness, many consumers and building owners are still unaware of the benefits of thermal insulation and its importance in energy conservation.
Limited availability of raw materials: The availability of raw materials used in thermal insulation products, such as fiberglass and foam, can be limited, leading to supply chain issues and increased costs.
Regional Insights
Europe will witness moderate growth during the forecast period due to the rising usage of building thermal materials regarding retrofitting work.
Asia Pacific will hold the largest building thermal insulation market share during the forecast period due to large-scale infrastructure developments planned by government bodies of China & India along with increasing impositions on energy usage to name a few.
North America will occupy a considerable market share during the forecast period owing to significant investment by various government organizations for energy-saving measures and a rising level of high-level of public awareness.
Competitive Landscape
As well as providing an overview of successful marketing strategies, market contributions, and recent developments of leading companies, the report also offers a dashboard overview of leading companies' past and present performance. Several methodologies and analyses are used in the research report to provide in-depth and accurate information about the Building Thermal Insulation Market.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/building-thermal-insulation-market-102708
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Material Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Building Thermal Insulation Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Building Thermal Insulation Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material (Volume/Value)
- Mineral Wool
- Glass Wool
- Stone Wool
- Foamed Plastics
- Expanded Polystyrene (EPS)
- Extruded Polystyrene (XPS)
- Polyurethane (PU)
- Polyisocyanurate (PIR)
- Others
- Cellulose
- Aerogels
- Others
- Mineral Wool
- Application (Volume/Value)
- Floor & Basement
- Wall
- Roof & Ceiling
- By End-Use (Volume/Value)
- Residential
- Non-Residential
- By Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Material (Volume/Value)
- North America Building Thermal Insulation Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material (Volume/Value)
- Mineral Wool
- Glass Wool
- Stone Wool
- Foamed Plastics
- Expanded Polystyrene (EPS)
- Extruded Polystyrene (XPS)
- Polyurethane (PU)
- Polyisocyanurate (PIR)
- Others
- Mineral Wool
- By Material (Volume/Value)
TOC Continued…!
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Frequently Asked Questions (FAQs):
How big is the insulation market?
Answer: The global building thermal insulation market size was valued at USD 29.85 billion in 2021 and is projected to grow from USD 31.15 billion in 2022 to USD 42.53 billion in 2029, exhibiting a CAGR of 4.5% during the forecast period
What is building thermal insulation?
Answer: Thermal insulation usually refers to the use of appropriate insulation materials and design adaptations for buildings to slow the transfer of heat through the enclosure to reduce heat loss and gain
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