The Building Insulation Materials Global Market Report 2023 by The Business Research Company, provides building insulation materials market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Building Insulation Materials Global Market Report 2023, the market size is expected to grow from$25 billion in 2022 to $26.12 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the building insulation materials is expected to grow to $29.12 billion in 2027 at a CAGR of 2.8%.
The increase in construction activities are 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.
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The building insulation materials market is segmented:
1) By Material: Fiberglass, Mineral Wool, Cellulose, Polyurethane Foam, Polyisocyanurate Foam, Polystyrene, Aerogels, 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
Technological innovations have emerged as a key trend gaining popularity in the building insulation materials market. Major companies operating in the building insulation materials market are focused on innovating new technologies to sustain their position in the market. For instance, in January 2021, Armacell, a Luxembourg-based manufacturer and supplier of industrial foams and flexible insulation materials launched a new AF/ArmaFlex generation, which satisfies fire class B/BL-s2, d0 and increases fire safety in buildings. The new elastomeric foam technology increases visibility in the event of a fire, which increases the amount of time that is available to evacuate a structure. In the event of a fire, its smoke quickly spreads throughout the structure, obstructing escape and rescue routes and reducing sight. In comparison to other flexible elastomeric foam materials, AF/ArmaFlex Evo emits 50% less smoke, giving inhabitants more time to leave the structure and improving access for rescue crews.
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. Building Insulation Materials Market Size And Growth
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26. Africa Building Insulation Materials Market
27. Building Insulation Materials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Building Insulation Materials Market
29. Building Insulation Materials Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Compagnie de Saint-Gobain S.A
- BASF SE
- Kingspan Group plc
- Knauf Insulation Inc
- Owens Corning
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