The report predicts the global Building Thermal Insulation Market to grow at a healthy CAGR over the forecast period from 2022-2031.
“Stringent regulations regarding reduction of greenhouse gas emissions to drive the building thermal insulation market”
The market size of building thermal insulation was USD 23.89 billion in 2016, which is projected to reach USD 29.62 billion by 2031, at a CAGR of 3.65% from 2022 to 2031. The building thermal insulation market is largely driven by the presence of stringent regulations to reduce greenhouse gas emissions in regions such as Europe and North America. In addition, the development of green buildings and the presence of stringent building codes drive the demand for building thermal insulation. The availability of hempcrete, a green insulation material, acts as a restraint for the building thermal insulation market.
“Glass wool estimated to be fastest-growing material type segment, in terms of value, from 2022 to 2031”
The glass wool segment is estimated to witness the highest growth, in terms of volume, from 2022 to 2031. Lightweight, non-combustible, high tear strength, and corrosion-resistant properties drive the demand for glass wool, globally. The demand for glass wool is increasing due to its increasing usage in masonry cavity walls, timber frame walls, roof rafter, flat roofs, loft, and suspended floor insulations. North America dominates the market for glass wool. This is due to the higher demand for non-flammable products in the region.
“Non-residential building estimated to be the fastest-growing building type, in terms of value, from 2022 and 2031”
The non-residential building segment is estimated to be the fastest-growing building type in terms of value, between 2022 and 2031. The increase in industrial activities and robust manufacturing in the US is estimated to drive the demand for building thermal insulation in non-residential buildings in North America. High business investments, especially in the UK, are estimated to drive the demand for non-residential buildings, which, in turn, will drive the demand for building thermal insulation in Europe. Healthcare facilities are estimated to grow due to the aging population in China.
This is estimated to drive the demand for building thermal insulation in non-residential buildings in the Asia Pacific. The growing demand for non-residential buildings, especially in the US, China, and the UK drives the demand for building thermal insulation in non-residential buildings. The rising energy cost in Europe drives the demand for building thermal insulation in both residential and non-residential buildings in Europe.
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“Asia Pacific estimated to be the fastest-growing market during the forecast period in terms of value”
The boom in the construction industry of China and India is estimated to drive the demand for building thermal insulation in the Asia Pacific region. In addition, the improvement in economic conditions and growth in urbanization helps the building thermal insulation market to flourish in the region. The presence of major manufacturers, such as Rockwool International A/S (Germany), Saint-Gobain S.A. (France), and Beijing New Building Material (Group) Co., Ltd. (China) also drives the market for building thermal insulation in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (50%), Tier 2 (27%), and Tier 3 (23%)
- By Designation: C-level (38%), Director Level (20%), and Others (42%)
- By Region: Asia Pacific (50%), North America (20%), Western Europe (13%), Central & Eastern Europe (8%), Middle East & Africa (7%), South America (2%)
Various key players profiled in the report include Johns Manville Corporation (US), Saint-Gobain S.A. (France), BASF SE (Germany), Kingspan Group plc (Ireland), Knauf Insulation, Inc. (US), Owens Corning (US), Huntsman Corporation (US), Rockwool International A/S (Germany), Firestone Building Products Company (US), Cabot Corporation (US), Dow Corning Corporation (US), Covestro AG (Germany) , URSA Insulation, S.A. (Spain), Paroc Group Oy (Finland), Atlas Roofing Corporation (US), GAF Materials Corporation (US), Lapolla Industries, Inc. (US), Beijing New Building Material (Group) Co., Ltd. (China), NICHIAS Corporation (Japan), Fletcher Building Limited (New Zealand), ODE Industry and Trade Inc. (Turkey), Aspen Aerogels, Inc. (US), Trocellen GmbH (Germany), Recticel SA (Belgium), and KCC Corporation (South Korea).
This report segments the market for building thermal insulation by material type, building type, application, and region, and provides the estimations for the overall value of the market across various regions. A detailed analysis of the key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, acquisitions, agreements, partnerships, and recent developments associated with the market for building thermal insulation.
Reasons to Buy This Report:
This research report is focused on various levels of analysis–industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the building thermal insulation market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on building thermal insulation offered by the top players in the global building thermal insulation market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the building thermal insulation market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for building thermal insulation across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global building thermal insulation market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the building thermal insulation market
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