Overview and Scope
Building thermal insulation refers to thermal insulation that prevents heat from moving from one substance to another when they are in thermal contact. The thermal conductivity of insulation serves as a measurement and is accomplished using low thermally conductive materials.
Sizing and Forecast
The building thermal insulation market size has grown steadily in recent years. It will grow from <b>$29.76 billion in 2023 to $30.75 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. </b> The growth in the historic period can be attributed to energy efficiency regulations and building codes driving demand for insulation, increasing awareness of environmental sustainability and energy conservation, increased construction industry, fluctuating energy prices, and government incentives.
The building thermal insulation market size is expected to see steady growth in the next few years. It will grow to <b>$35.83 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. </b> The growth in the forecast period can be attributed to climate change mitigation efforts and the need for energy-efficient buildings, adoption of green building certifications and standards, research and development of high-performance and sustainable insulation materials, increasing demand for passive house and zero-energy building designs, and urbanization and population growth. Major trends in the forecast period include biodegradable and sustainable insulation materials, aerogel insulation, prefabricated insulation panels, high-performance insulation for cold climates, and insulation for aging buildings.
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Segmentation & Regional Insights
The building thermal insulation market covered in this report is segmented –
1) By Material: Foamed Plastic, Mineral Wool, Aerogels, Cellulose, Other Materials
2) By Product: Glass Wool, Mineral Wool, Expanded polystyrene (EPS), Extruded polystyrene (XPS), Other Products
3) By Application: Roof Insulation, Wall Insulation, Floor Insulation
4) By End Use: Residential, Commercial, Industrial
<b>Asia-Pacific</b> was the largest region in the building thermal insulation market in 2023. The regions covered in the building thermal insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in the construction of green buildings is expected to propel the growth of the building thermal insulation market going forward. A green building minimizes or eliminates harmful effects on the climate and natural environment during design, construction, or operation. Green structures don’t affect natural resources and raise the standard of living. Building thermal insulation is used in the construction of green buildings to make them more energy efficient, and it also helps to keep the building cool naturally. For instance, according to Times Property, an India-based e-commerce property sales, and purchase platform, in 2020, construction of green buildings increased in India. There was a 37% increase in buildings with green certification. Further, according to CBRE, a US-based commercial real estate company, the overall amount of green assets in India has increased to nearly 40%. Further, according to the Singapore Green Building Council, a Singapore-based government organization, for the year 2021, 49% of Singapore’s buildings have been greened, and it is estimated to increase by 80% in 2030. Therefore, an increase in the construction of green buildings is driving the growth of the building thermal insulation market.
Key Industry Players
Major companies operating in the building thermal insulation market include <b> Johns Manville, Saint-Gobain S.A., Baden Aniline and Soda Factory, Kingspan Group PLC, Owens Corning, Rockwool International A/S, GAF Materials Corporation, Guardian Building Products Inc., CertainTeed Corporation, Knauf Insulation, Armacell International S.A., Dow Inc., Huntsman Corporation, Cabot Corporation, Recticel NV, Paroc Group, URSA Insulation S.A., Superglass Insulation Ltd., Kaimann GmbH, Thermaflex International Holding B.V., Lapinus Fibres, KCC Corporation, Beijing New Building Material (Group) Co. Ltd., Fletcher Insulation Pty Ltd., TechnoNICOL Corporation, Unifrax I LLC, Aspen Aerogels Inc., Evonik Industries AG, Alutech Systems Ltd. </b>
The building thermal insulation market report table of contents includes:
1. Executive Summary
2. Building Thermal Insulation Market Characteristics
3. Building Thermal Insulation Market Trends And Strategies
4. Building Thermal Insulation Market – Macro Economic Scenario
5. Global Building Thermal Insulation Market Size and Growt
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26. South America Building Thermal Insulation Market
27. Brazil Building Thermal Insulation Market
28. Middle East Building Thermal Insulation Market
29. Africa Building Thermal Insulation Market
30. Building Thermal Insulation Market Competitive Landscape And Company Profiles
Top Major Players:
- Johns Manville
- Saint-Gobain S.A.
- Baden Aniline and Soda Factory
- Kingspan Group PLC
- Owens Corning
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