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Building Thermal Insulation Market

Building Thermal Insulation Market

Building Thermal Insulation Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

141

Base Year:

2022

Date

Nov - 2023

Format:

PDF XLS PPT

Report Code:

VMR-2341

Segments Covered
  • By Material By Material Glass Wool, Stone Wool, Plastic Foam, Other Materials
  • By Application By Application Wall Insulation, Roof Insulation, Floor Insulation
  • By Building Type By Building Type Residential, Non-Residential
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 28.6 Billion
Revenue 2030Revenue 2030: USD 42.9 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 5.2%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Building Thermal Insulation Market Share

The global Building Thermal Insulation Market is valued at USD 28.6 Billion in 2022 and is projected to reach a value of USD 42.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.2% between 2023 and 2030.

Premium Insights

Thermal insulation, which stops heat conduction through the encasement, is an important energy-saving approach in buildings and construction. The thermal conductivity of building insulation products is less than 0.2 W/mK, making them an ideal medium for minimizing heat loss/gain inside closed areas. Building Thermal Insulation products defend against energy loss and provide additional structural support, notably in roofs. Thermal insulation is an important energy-saving technology in buildings and construction. The benefits of adequate thermal insulation in buildings are well understood, and governments have passed regulations requiring that structures meet specific minimum insulation levels. For example, under the Residential Tenancies Act, all rental dwellings in New Zealand must have ceiling and underfloor insulation built in accordance with specified specifications beginning in July 2019.

Building Thermal Insulation Market Size, 2022 To 2030 (USD Billion)

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  • The increased domestic and commercial application of the product to reduce overall energy costs, as well as increased awareness about energy saving, are major drivers for Building Thermal Insulation.
  • Roof Insulation accounted for the largest share of the market in 2022 and is predicted to grow at a substantial CAGR during the forecast period.
  • In 2022, North America will have the largest revenue share with 40.60%.
  • The Asia Pacific region will have the largest CAGR rate between 2023 and 2030.

Top Market Trends

  1. Green building development is predicted to boost the growth of the Building Thermal Insulation business in the future years. Green building minimizes or eliminates negative effects on the climate and the natural environment during design, construction, and operation. Green constructions conserve natural resources while raising living standards. As a result, the expansion of thermal insulation construction is being propelled by an increase in the development of green buildings.
  2. Building codes in the United States and Canada, as well as the establishment of energy certification agencies such as the Leadership in Energy and Environmental Design (LEED) and the United States Green Building Council (USGBC), are expected to boost demand for Building Thermal Insulation.
  3. During the projection period, the environmental impact of Building Thermal Insulation is projected to shift the industry's focus to the development of environmentally friendly products. Furthermore, rising plastic foam prices are projected to hamper growth, prompting the creation of alternative goods.
  4. Due to the severe laws governing conventional goods such as plastic foams, recyclable insulation is gaining favor. Because of rising environmental awareness, homeowners, architects, and businesses are increasingly preferring green, biodegradable, and recyclable materials, which is likely to increase the danger of replacements in the Building Thermal Insulation sector throughout the forecast period.
  5. Companies in this area have created DIY insulation products for people who cannot afford the services of insulation professionals. For example, DuPont sells a spray foam-based DIY package called Froth-Pak, which comprises quick-cure PU foam for filling roof spaces and gaps. Important companies such as Knauf Insulation, Owens Corning, and Ecofoam Insulation & Coatings are expected to produce similar DIY products in the coming years, driving market growth.
  6. The principal cause of global warming is air pollution, which is described as the occurrence of rising temperatures on the earth's surface as a result of harmful pollutants released into our atmosphere as a result of unregulated energy consumption. The importance of enhancing building energy efficiency in terms of lowering greenhouse gas emissions, energy consumption, and prices has been generally acknowledged in Europe. EU-level obligations for new building energy efficiency criteria have been imposed, driving market growth.

Report Coverage & Deliverables

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Economic Insights

Government financing and incentives for energy-efficient construction methods can be affected by economic situations. Subsidies, tax breaks, and grants for energy-efficient upgrades may be reduced, discouraging property owners from investing in insulation improvements and stifling market growth. Economic issues can disrupt global supply networks, reducing insulating material availability and pricing. Supply chain disruptions can cause delays, increased costs, and uncertainty for Building Thermal Insulation producers and suppliers. Economic factors can have an impact on government policies and laws governing building codes and energy efficiency standards. Regulation changes may have an impact on the demand for specific types of insulating materials as well as the overall emphasis on energy-efficient construction techniques.

Market Segmentation

The Global Building Thermal Insulation Market is categorized into the below-mentioned segments as:

The global Building Thermal Insulation market can be categorized into Material, Application, Building Type, Region. The Building Thermal Insulation market can be categorized into Glass Wool, Stone Wool, Plastic Foam, Other Materials based on Material. The Building Thermal Insulation market can be categorized into Wall Insulation, Roof Insulation, Floor Insulation based on Application. The Building Thermal Insulation market can be categorized into Residential, Non-Residential based on Building Type. The Building Thermal Insulation market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Below tree is interactive. You can click the nodes to get more information.

Based on Application

Roof Insulation to Lead Market Share Due to The Growing Need To Prevent Heat Penetration From Direct Sunrays

In 2022, the Roof Insulation segment will dominate the global market for Building Thermal Insulation Because of the growing need to prevent heat penetration from direct sunrays through building roofs. In addition, an increasing number of single-family homes is predicted to drive market growth over the forecast period. Also, this is because roofs are the most exposed element of a building to the outside temperature and weather conditions. As a result, adequate roof insulation aids in maintaining the optimum inside temperature, lowering energy consumption and expenditures, and improving overall comfort levels. Roofs also have the most surface area of any building, making them a prominent target for insulation solutions.

Based on Building Type

The residential segment Expects Dominion Owing to the growth of Single-Unit Buildings, Along With the Restoration And Re-Insulation Of Historic Houses.

In 2022, the Residential segment will dominate the Building Thermal Insulation market. Owing to the significant growth of single-unit buildings, along with restoration and re-insulation of historic houses. Furthermore, an increase in multi-family dwelling development activities is expected to boost the expansion of the Building Thermal Insulation business. Residential structures consume more than 40% of primary energy demand, according to a European Commission assessment of the insulation materials market for energy-efficient buildings. To save energy, residential building infrastructures can be insulated. According to the report, adding insulation to existing structures can cut energy requirements for maintaining internal temperatures by up to 35%. As a result, the residential segment has the greatest potential for energy savings and so dominates the Building Thermal Insulation business.

Based on Region

North America To Dominate Global Sales Due to Significant Government Support For Energy-Saving Measures Such As Building Thermal Insulation.

In 2022, the North American region emerged as the dominant player in the Building Thermal Insulation market because of the presence of severe building norms and laws promoting energy efficiency in buildings. The ENERGY STAR program of the United States EPA, for example, encourages the use of energy-efficient construction materials and appliances, including thermal insulation materials. In addition, the program offers tax breaks to households and companies who use energy-efficient building practices. Furthermore, the region's harsh weather conditions, such as frigid winters and hot summers, are boosting demand for thermal insulation materials in buildings. Green buildings and net-zero energy buildings are predicted to stimulate demand for eco-friendly insulating materials in the region.

The Building Thermal Insulation industry in Asia Pacific is rapidly growing in popularity. The region's dominance is likely to be maintained owing to increased construction activity, particularly in growing economies such as India, China, and Indonesia. The region's population development, combined with a rising middle class, has resulted in a rise in residential and commercial building construction, fuelling demand for thermal insulation materials. Furthermore, government actions to improve building energy efficiency and reduce carbon emissions are likely to increase demand for thermal insulation materials in the region. For example, the Indian government published the Energy Conservation Building Code (ECBC) 2017 in 2020, which requires the use of energy-efficient building materials and practices, such as thermal insulation. Furthermore, the region's growing trend of green building practices is likely to fuel demand for eco-friendly insulation materials such as wool, cellulose, and recycled materials.

Competitive Landscape

The global Building Thermal Insulation market is highly competitive, with various key players operating in the industry. Some of the major companies in the market include Rockwool International A/S; Byucksan Corporation; Huntsman International LLC; Guardian Building Products, Inc.; Johns Manville Corporation; Cellofoam North America, Inc.; CertainTeed Corporation; Roxul, Inc.; Dow Building Solutions; Atlas Roofing Corporation; Owens Corning Corporation; Saint-Gobain S.A.; Kingspan Group PLC; GAF Materials Corporation; BASF Polyurethanes GmbH. These businesses are concentrating their efforts on research and development in order to create unique and long-lasting products. Strategic alliances, mergers, and acquisitions are also common in the industry as companies seek to extend their product offerings and market presence.

Players, among others, are prominent players in the global keyword industry.

Recent Market Developments

  • In August 2022, Atlas Roofing Corporation announced plans to invest USD 200 million in the construction of a shingle manufacturing facility in the Midwestern United States. Atlas will also produce novel and revolutionary items, such as roofing underlayment and Atlas' patented roof system components.
  • In March 2022, BASF expanded its line of graphitic expandable polystyrene (EPS) granulates. BASF introduced Neopor F 5 McycledTM, which comprises 10% recycled material and is suited for a wide range of building applications, including facade insulation.
  • In March 2022, With a USD 12.5 million investment, Knauf Gips KG officially established a new Glass Mineral Wool thermal insulation recycling factory in Vise, Belgium, paving the way for an exciting new recycling service for the construction and demolition industries.

Segmentation of the Global Building Thermal Insulation Market

Parameter Details
Segments Covered

By Material

  • Glass Wool
  • Stone Wool
  • Plastic Foam
  • Other Materials

By Application

  • Wall Insulation
  • Roof Insulation
  • Floor Insulation

By Building Type

  • Residential
  • Non-Residential

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Rockwool International A/S (Denmark)
  • GAF Materials Corporation (U.S.)
  • Guardian Building Products Inc. (U.S.)
  • Huntsman International LLC (U.S.)
  • Johns Manville Corporation (U.S.)
  • Cellofoam North America Inc. (U.S.)
  • Atlas Roofing Corporation (U.S.)
  • CertainTeed Corporation (U.S.)
  • Roxul Inc. (Canada)
  • Dow Building Solutions (U.S.)
  • Owens Corning Corporation (U.S.)
  • Saint-Gobain S.A. (France)
  • Byucksan Corporation (South Korea)
  • Kingspan Group PLC (Ireland)
  • BASF Polyurethanes GmbH (Germany)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Building Thermal Insulation valued at USD 28.6 Billion in 2022 and is expected to reach USD 42.9 Billion in 2030 growing at a CAGR of 5.2%.

  • The prominent players in the market are Rockwool International A/S (Denmark), GAF Materials Corporation (U.S.), Guardian Building Products Inc. (U.S.), Huntsman International LLC (U.S.), Johns Manville Corporation (U.S.), Cellofoam North America Inc. (U.S.), Atlas Roofing Corporation (U.S.), CertainTeed Corporation (U.S.), Roxul Inc. (Canada), Dow Building Solutions (U.S.), Owens Corning Corporation (U.S.), Saint-Gobain S.A. (France), Byucksan Corporation (South Korea), Kingspan Group PLC (Ireland), BASF Polyurethanes GmbH (Germany).

  • The market is project to grow at a CAGR of 5.2% between 2023 and 2030.

  • The driving factors of the Building Thermal Insulation include

    • Rising Building & Construction Industry to Favor Growth

  • North America was the leading regional segment of the Building Thermal Insulation in 2022.