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Building Insulation Material Market
The Building Insulation Material market is projected to generate a CAGR of 3.67% and has been estimated to register more than USD 35 billion by the end of the year 2030
$35 Billion
3.67%
Europe
2021-2030
Building Insulation Material Market Overview
The worldwide Building Insulation Material marketis projected to generate a CAGR of 3.67% in the assessment period of 2021-2030. Further, the same market has been estimated to register more than USD 35 billion by the end of the year 2030. The building insulation materials are very helpful to reduce the heat transfer through the building in terms of panels, spray foam, and blankets forming an envelope of thermal around the construction work. Here, a substantial saving on the energy cost can be done with the appropriate insulation of a building that can lower the cooling expenses and heating.
The building insulation materials are of different types widely used across various construction sites due to their anti-absorbent characteristics, low-cost, and non-flammability characteristics. Thus, these effective properties' presence in the material is making it more preferable materials among the construction work settings. The rising application of building insulation materials in roofs, walls, and floors is projected to bring lucrative opportunities for the global Building Insulation Material marketin the assessment timeframe.
The regions like the Asia Pacific and South America are giving focus on the expansion of the construction sector, which is helping to maintain the global sales at the higher marketing position. Here, the fast-developing countries of the Asia Pacific region have huge demand over the products relating to Building Insulation Material, which the construction sector has maintained. According to the Building Insulation Material Market Forecastreport, the market is fuelling with the support of the biggest intended audiences like suppliers and distributors, building insulation material manufacturers, raw material suppliers, potential investors, associations, construction companies, end-users, and government.
COVID-19 Analysis
The Building Insulation Material Marketwas negatively affected because of the covid-19 outbreak in the first half of 2020. During this time, many raw material manufacturers and insulating material manufacturing companies have closed all their operations at different locations because of the imposition of strict regulations from the government authorities. Moreover, the global economy has been affected adversely due to the covid-19 pandemic that includes manufacturing and supply chain disruption. The delay in the supply of many components has been evident in China.
However, it took some time to reopen, but the supply chain is opening again in the present scenario. The key players of the market are playing an important role in regrowing the performance of the Building Insulation Material Marketduring the forecast period.
Chief Factors Existing In The Market
Key Market DriversThe global Building Insulation Material market is driven because of the growing focus on infrastructural development like commercial and residential sectors. Moreover, another important factor for expanding the global market is the increasing adoption of advanced construction materials. In addition, the growing industrialization and infrastructure in Asia-Pacific and increasing demand for energy efficiency among the demography is projected to boost up during the forecast period. Market ChallengesThe global Building Insulation Material market might experience challenges due to the high cost of raw materials across the world. Moreover, the worldwide market might face the biggest challenges due to the inconsistency in supply and lack of awareness about the material. Market OpportunitiesThe global Building Insulation Material market has significant opportunities for the key market players and manufacturers because of the increasing demand for advanced construction materials worldwide.Moreover, the market leaders are giving more focus on infrastructural development, which is projected to bring lucrative opportunities during the forecast period. Market RestraintsThe global Building Insulation Material market is growing day by day, but it might experience restraint due to the price fluctuation of raw materials across different parts of the world. Also, the inconsistency in supply can hamper the growth of market during the forecast period.
Cumulative Evaluation Of The Market
The global marketis projected to show steady growth in between the forecast period of 2016 to 2023. This upward trend has continued to maintain the market performance till now and is estimated to maintain the same in the upcoming years.
As per theBuilding Insulation Material Market Outlook report, an unbiased growth assessment has been projected to be delivered in the upcoming years based on the current and future prospects of the global market.
Market Segmentation
By material type:Based on the material type segment, the global Market has been segmented into glass wool, XPS, stone wool, EPS and others. All these material types are preferred by the end-users based on their interest and work requirement as well as functionality, which is estimated to enhance the Building Insulation Material Market Growthin the review timeframe. By end-users:On the basis of end-user segments, the current Building Insulation Material Markethas been divided into non-residential and residential. Further, the non-residential segment is sub-divided into infrastructure, commercial and other non-residential industries (religious buildings, civic, etc.). Among all, the residential segment is estimated to lead the global market by generating the largest Market Shareduring the review period. By application:In terms of the application segment, the worldwide Market has been classified into roofs, walls, and floors. The increasing application of Building Insulation Material in various works is projected to enhance the Building Insulation Material Market Valueduring the forecast period.
Regional Analysis
According to the Building Insulation Material Market Analysis,the market has covered various regions like the Middle East and Africa, Europe, South America, and the rest of the world.
Among all, the European market for Building Insulation Material is projected to generate the largest market share during the review period. In this region, the countries like Germany are contributing highly and dominating the market as its economy is the fifth-largest in the world and the largest in Europe. In between 2013 to 2019, the weakest growth rate has been recorded, i.e., 0.6% due to the booming construction, increasing substantial private consumption, and higher state spending in the region. In 2020, the arrival of covid-19 had recorded a decline in GDP growth of nearly -4.8%. But it is projected to grow at 3.6% y the end of the year 2021 with the recovery of economic condition. Moreover, Germany consists of the largest construction industry in the country, which is fuelling the rising new residential construction activities in the region.
Significant growth in commercial and non-residential buildings has been evident in the country in the forecast timeframe. This region is expanding because of the increased real disposable incomes, lower interest rates, and rising investments by the German government and the European Union.
Competitive Intensity Within The Industry
The Building Insulation Material Market Trendsreports highlight that the current market share has been evaluated, which shows that the market players are contributing highly to lead the global market across regions. These key leaders include:
- Owens Corning Corporation
- BASF SE, Rockwool International A/S (Denmark)
- Lloyd Insulations Limited
- Paroc Group Oy
- Johns Manville Inc.
- Knauf Insulation Inc.
- Kingspan Group Plc.
- Saint-Gobain SA
- GlassRock Insulation Company SAE
These key players have given the focus on the growth strategies, merger and acquisition activities, new product launches, segmental share, and geographical incomes to propel the growth in the Building Insulation Material Market Size.Moreover, these players are also giving focused on the recent research and developmental initiatives that can bring more opportunities to the global market.
Recent Market Developments
In July 2021, the acquisition of vliepa GmbHwas declared by the prominent player Owens Corning. It has aimed to expand the global nonwovens portfolio of the company to strengthen offerings and accelerate growth to construction and European building work. In September 2020, the acquisition of Strikolith was declared by Saint-Gobain. The Strikolith company is a Netherlands-based company which is specialized in the production of renovation products and solutions, interior finishing, and external insulation systems. This company provided a wide range of sheets for façade insulation and expanded polystyrene boards.June 2021-ROCKWOOL introduces a building insulation solution, HARDROCK UB34, which has been specially developed for parapet walls as well as upstands on flat roofs. The solution is non-combustible and is perfect during a case of fire. UB34 offers a thermally efficient and high-performance upstand insulation board, a combination of a 50mm dense ROCKWOOL stone wool insulation slab bonded to a 6mm fibre cement board, with the whole system being weather and impact resistant.HARDROCK UB34 has undergone extensive testing and has been given the classification of Euroclass A2-s1, d0. This certification entails the product being suitable for applications in buildings more than 18 metres affected by combustible materials’ ban.December 2021-TN International, Scottish insulation manufacturing company owner, SuperGlass has acquired Chesterfelt, a UK-based bitumen roofing developer. TN International’s glass wool insulation manufacturing unit in Stirling has an annual capacity of around 60,000 tons.
Report Overview
The global Building Insulation Material Market report is a combination of both qualitative and quantitative analysis that covers the market segmentation, market overview, covid-19 analysis, regional analysis, market dynamics, competitive analysis and recent development.
Further, the global Markethas been segmented based on material type, application and end-users.
Key Industrial Segments
By material type:
- glass wool,
- XPS,
- stone wool,
- EPS
- others
By end-users:
- non-residential
- residential
By application:
- roofs,
- walls,
- floors
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: USD 35 billion |
| CAGR | 3.67% (2021-2030) |
| Base Year | 2021 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | 2021-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Application and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | BASF SE, Rockwool International A/S (Denmark), Owens Corning Corporation, Paroc Group Oy, Lloyd Insulations Limited, Knauf Insulation Inc., Johns Manville Inc., GlassRock Insulation Company SAE, Saint-Gobain SA and Kingspan Group Plc. |
| Key Market Opportunities | Rising adoption of advanced constructions materials and increased focus on infrastructural development |
| Key Market Drivers | The construction sector has maintained the product demand from some of the fast-developing countries in Asia region. |
Frequently Asked Questions (FAQ) :
The building insulation material market is predicted to grow at a 3.67% CAGR between 2021-2030.
The global building insulation material market is predicted to touch USD 35 billion by 2021.
Key players profiled in the building insulation material market include Kingspan Group Plc., Saint-Gobain SA, GlassRock Insulation Company SAE, Johns Manville Inc., Knauf Insulation Inc., Lloyd Insulations Limited, Paroc Group Oy, Owens Corning Corporation, Rockwool International A/S (Denmark), and BASF SE.
Volatile raw material prices and inconsistent supply may restrict the building insulation material market growth.
Demand for energy efficiency in construction and government regulations on building insulation are boosting market growth.
The global Building Insulation Material Market has been segmented into material types, end-users, and applications.
