Overview and Scope
Building insulation materials refer to a substance made to stop heat or sound from transferring from one place to another. It is typically used to confine heat and/or sound to particular areas of a home or to keep them inside or outside.
Sizing and Forecast
The building insulation materials market size has grown steadily in recent years. It will grow from $25.5 billion in 2023 to $26.23 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to emerging markets growth, the rise in demand for energy-efficient buildings, the increased focus towards sustainability and the rapid industrialization.
The building insulation materials market size is expected to see steady growth in the next few years. It will grow to $30.11 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to emerging markets growth, the rise in demand for energy-efficient buildings, the increased focus towards sustainability and the rapid industrialization. Major trends in the forecast period include focusing on eco-friendly insulation materials, focusing on product innovations and developing new product solutions, focusing on new technologies and developing advanced product solutions, focusing on collaborations and acquisitions to improve financial strength and focusing on new plant expansions to serve the increasing demand.
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Segmentation & Regional Insights
The building insulation materials market covered in this report is segmented –
1) By Material: Fiberglass, Mineral Wool, Expanded Polystyrene, Extruded Polystyrene, Cellulose, Other Materials
2) By Insulation: Bulk, Reflective
3) By Application: Wall Insulation, Underfloor Insulation, Ceiling Or Roof Insulation, Window Insulation, Other Applications
4) By End User: Residential, Commercial, Industrial
Sub segments: Weather-Stripping, Caulk, Spray Foam, Window Inserts Or Interior Storm Stoppers, Window Film Insulation Kits, Residential End-User, Commercial End-User, Industrial End-User
North America was the largest region in the building insulation materials market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the building insulation materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in construction activities is expected to propel the growth of the building insulation materials market going forward. Construction activities refer to any activity that is essential for building or structural construction, destruction, assembly, alteration, installation, or equipment. Construction activities have been on the rise due to rapid industrialization and urbanization. These construction activities are creating a massive demand for insulation materials for the construction of residential and commercial buildings, as insulation refers to an energy-saving measure that lowers heat surplus in warm weather or climates and lowers heat loss in buildings in cold weather or climates. For instance, in June 2021, according to the Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7 percent in March 2021. Further, in 2021, residential activities rose 4.3 percent compared to 2020. Additionally, according to the US Census Bureau, The value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 with a growth rate of 10.2 percent. Therefore, the increasing construction activities are driving the growth of the building insulation materials market.
Key Industry Players
Major companies operating in the building insulation materials market report are Owens Corning, Rockwool International A/S, Knauf Gips KG, Saint-Gobain S.A., BASF SE, Dow Inc, Berkshire Hathaway Inc., Huntsman Corporation, Covestro AG, DuPont de Nemours Inc, Anhui Sunval International Co. Ltd, Hangzhou Qiyao New Material Co. Ltd, Hainan Fuwang Industrial Co. Ltd, Xuchang Zhufeng Insulation Material Co. Ltd, Yuyao Tongchuang Thermal Insulation & Sealing Factory, Resistant Building Products Ltd, New Wave Doors Ltd, Gowercroft Limited, FibreGrid, Gyvlon Limited, Martyn Ryder, Keith Builders Merchants Limited, Spotnails Ltd, QEP-Vitrex, AluMate Limited, Wetherby Laroc Group, Plasson UK Ltd, Surface Heating & Cooling, Roofbase, LIGNIA Wood Company Limited, Gripsure UK Ltd, The Ashton Group, Celotex Ltd, IKO Enertherm, Kingspan, Gambit Lubawka Sp. z o.o., Global Mineral Group Sp. z o.o., TechnoNICOL Corporation, Steklonit JSC, Guardian Industries, Nippon Electric Glass America, Fiberglass Canada Inc., Holcim, Armacell, Isover, Texsa, Arabian Fiberglass Insulation Company Ltd, Ashtrom Group, Pearl Polyurethane Systems, Redcon Construction Company, Estim Construction Co. Ltd, Eco-Beam, Ecomo, TSAI Design Studio.
The building insulation materials market report table of contents includes:
1. Executive Summary
2. Building Insulation Materials Market Characteristics
3. Building Insulation Materials Market Trends And Strategies
4. Building Insulation Materials Market – Macro Economic Scenario
5. Global Building Insulation Materials Market Size and Growth
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32. Global Building Insulation Materials Market Competitive Benchmarking
33. Global Building Insulation Materials Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Building Insulation Materials Market
35. Building Insulation Materials Market Future Outlook and Potential Analysis
36. Appendix
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