Building Thermal Insulation Market worth $35.3 billion by 2027 Globally, at a CAGR of 4.7%, says MarketsandMarkets™

Chicago, July 13, 2023 (GLOBE NEWSWIRE) — The Building Thermal Insulation Market is projected grow to USD 35.3 Billion by 2027, at a CAGR of 4.7% from USD 28.0 Billion in 2022, as per the recent study by MarketsandMarkets™. Building insulation tends to be the most cost-effective measure in climates that have a wide range of annual average temperatures. The insulation’s resistance to heat flow is measured or rated in terms of its thermal resistance or R-value. The higher the R-value, the higher will be heat resistance and lesser the heat will flow. In buildings that have thin walls or timber constructions, the impact of additional insulation is significant.

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Browse in-depth TOC on “Building Thermal Insulation Market”

313 – Market Data Tables

63 – Figures

274 – Pages

List of Key Players in Building Thermal Insulation Market:

1. Kingspan Group Plc (UK)
2.  Knauf Gips KG (Germany)
3. Owens Corning (US)
4. Rockwool International A/S (Denmark)
5. Saint-Gobain SA (France)
6. BSF SE (Germany)
7. Johns Manville Corporation (US)
8. Altana AG (Germany)
9. Dow Inc. (US)
10. GAF Materials Corporation (US)
11. CNBM Group Co., Ltd. (China)
12. Aspen Aerogels, Inc. (US)

Drivers, Restraints, Opportunities and Challenges in Building Thermal Insulation Market:

1. Driver: Development of green buildings
2. Restraint: Availability of green insulation material
3. Opportunities: High energy requirements
4. Challenges: Lack of awareness on building thermal insulation

Key Findings of the Study:

1. Plastic foam is the largest building thermal insulation material of building thermal insulation market.
2. Roof insulation is projected to be the fastest growing application of the building thermal insulation market, in terms of value, during the forecast period.
3. Residential is the largest building type of building thermal insulation market
4. Asia Pacific is projected to be the fastest growing market for building thermal insulation during the forecast period

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Plastic foam material is projected to witness the highest CAGR, in terms of both value and volume, during the forecast period. This is owing to its usage in various temperature ranges, which vary from -200°C to 150°C. In addition, the long-life cycle of plastic foam insulation leads to its usage in applications such as walls, floors, and roofs. Its high thermal resistance, versatility, strength, and life span drives its demand.

The roof insulation application is projected to witness the highest CAGR during the forecast period. This can be attributed to their rising demand for energy-efficient buildings and higher price of roof insulation when compared to wall and floor insulation, leads to the demand for insulation in roof insulation application. Blown (fiberglass and stone wool), foam board (XPS and EPS), and PUR & PIR insulations are used for insulating roof. Blown insulation is easier to install, and it can cover areas such as chimney or stove vents.

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The non-residential building type is projected to witness the highest CAGR during the forecast period. Builders and contractors have realized the importance of insulation systems as they make the building energy efficient and help reduce energy loss. In addition, the growing trend of developing green buildings to combat global warming and increasing energy cost provides immense opportunities for the growth of the building thermal insulation market.

Dispersing agents market is projected to witness the highest CAGR in Asia Pacific in the next five years. The growing construction sector (residential and non-residential) and advances in process manufacturing are some of the key drivers for the Asia-Pacific market. Countries such as India, Indonesia, and China are expected to witness high growth in the building insulation market, supported by a rise in demand from the building construction sector.

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