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Building Thermal Insulation Market Research Report - Global Forecast till 2030

Building Thermal Insulation Market Research Report: By Material Type (Wool Insulation [Glass Wool, Stone Wool], Plastic Foams [Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), Phenolic, Polyurethanes (PU)] and others), Application (Wall Insulation [Internal Wall, External Wall, Air Cavity Wall], Roof Insulation [Flat Roof, Pitch Roof] and Floor Insulation), End-Use (Residential, Non-Residential and Industrial) and Region (Asia-Pacific, Latin America, North America, Europe and Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/1014-HCR | February 2021 | Region: Global | 185 pages

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Building Thermal Insulation Market Overview


Building Thermal Insulation Market is projected to be worth USD 40.64 billion by 2028, registering a CAGR of 5.34% during the forecast period (2021 - 2028)., The market was valued at USD 29.75 billion in 2021.The market products and services are playing a major role in reducing the amount of power that is required to conduct processes like heating or cooling physical spaces like rooms and further, minimizing the chances of heat escape in winters.


COVID 19 Analysis


The appearance of the pandemic since the last quarter of 2019 and 2020 has been a significant and serious disadvantage that is affecting the working of the worldwide business sectors particularly in the ongoing global forecast period of 2021-2028. The pandemic has presented huge kinds of issues and troubles and the worldwide business sectors and participating market players need dedicated time and resources to adapt up to changes and execute and implement similar changes in developing various solutions. Also, the prominent players of the global market The market has been running over a difficult situation as the desperate need is to get back to business as usual.


The market players and worldwide governments are understanding comparable things and subsequently, are lifting the limitations forced. Further, they are in any event, expanding their measure of interest in innovative work to assist them with growing their item portfolio and foster new items to present on the global market scale.


Market Dynamics


Drivers:


The factors involved in driving the Buildings Thermal Insulation Market are resulting in the huge development of the market especially in the forecast period that will be ending in 2028. The market is home to green building and eco-friendly building factors that have a major role to play in the market complete its environmental responsibility for a better tomorrow and make judicious use of resources. Further, there has been a considerable amount of reduction in greenhouse emissions due to stringent regulations followed by implemented methods of cost reduction will drive the market towards global growth as per the predictions laid down for the forecast period of 2021-2028.


Challenges:


The challenges faced by the Buildings Thermal Insulation Market are the development of flexible and high availability of green and eco-friendly materials. The high availability is associated with quality hampering and the cost association which will challenge the market from growing as per the predictions of the forecast period that will be ending in 2028. Also, the market is facing a lack of awareness amongst the target people that are spread in various global locations followed by increased demand for high energy modules that are restraining the market from growing in the forecast period.


Technology Analysis


Technological advancements and features have a crucial role to play in helping the buildings’ thermal insulation market size expand during the forecast period. The availability of technology coupled with the higher developing degree of energy resources due to reduced consumption of energy is a promising fact for the market during the forecast period. Also, the market is witnessing a rise in stringent building codes, redemption through tax credits, and rebates that are likely to promise positive attributes for the market during the forecast period and lead to a global market growth based on expert predictions.


Study Objectives



  • The market report plans to help the market financial investors and product buyers have a fundamental understanding of the market working and settle on their needs and investment decisions. The report further, helps in having a thought regarding the introduction of the market products and services that will assist give with rising demand changes that will help in market expand according to the business investigators' expectations for the forecast period of 2021-2028.

  • The market report helps in having a subjective and profound market and useful understanding of the market segments that will assist with understanding the market services. Further, the market report examines the capability of the market to rule the development scale and expand as per the growth predictions for the forecast period that will be ending in 2028.

  • The market report additionally is extremely useful in having a profound study of the factors that lead to the developing competition among different regional and worldwide market segments. The report additionally talks about the recent developments undertaken by the market players in the form of product launches, mergers, and acquisitions.


Segment Overview


The building thermal insulation market share is expected to expand in the going forecast period of 2021-2028, is the impeccable performance of the global market segments and their rising ability to meet the rising needs of the target audience. The market has been segmented based on the following:


Based on material types


By the types of materials demanded and used, the market is inclusive of stone wool, glass wool, plastic foam like PUR, PIR, and polystyrene, and others like aerogel and cellulose.


Based on application


The applications of the market have been divided into roof insulation, wall insulation, and floor insulation.


Based on building type


The market has been segmented into residential buildings and non-residential buildings.


Regional Analysis


The building thermal insulation market value is likely to soar high in 4 major regions. The highest growth and largest market share are likely to be experienced by the North American region. The market is witnessing a huge rise in the presence of strict building energy codes followed by the strong demand for building thermal insulation from the housing sector in the US market that is providing the global market excellent opportunities to dwell upon. Also, awareness for energy-efficient buildings is on the rise and the rising cost of energy will also help the market to grow.


Competitive Landscape


Owing to the rising building thermal insulation market value, there are signs of growing market competition during the forecast period that will be ending in 2028. The market players are as follows:



  • Saint-Gobain S.A. (France)

  • BASF SE (Germany)

  • Knauf Insulation, Inc. (US)

  • Rockwool International A/S (Denmark)

  • Cabot Corporation (US)

  • Covestro AG (Germany)


Recent Developments


November 2021- With sustainability as the biggest focus, Columbia Green Technologies has selected DuPont Styrofoam Brand XPS Insulation for use in its green infrastructure solutions.
Columbia Green's extensive range of green roofs have an important role in letting areas with aging infrastructure come to terms with their resiliency goals. Columbia Green's focus is on offering cost-effective, high-performance green roof solutions to curb flooding, cut down the heat island effect, reduce carbon emissions, and save energy via lower cooling costs and assist developers in adhering to the WELL and LEED standards.

December 2021-Thermulon has amassed funds of more than £650,000 on CrowdCube, crossing its target of £450,000. Thermulon’s range of nanoporous building thermal insulation materials are developed to deal with climate changes and foster buildings’ energy efficiency while ensuing high safety levels.
Aerogels remains some of the most popular building insulating materials, however; high production costs make fire safety-compliant, thermally efficient products expensive commodities for the construction industry.
Thermulon has come up with an advanced production process using the latest continuous chemical pathways to develop cost-effective aerogel with high fire-safety and thermal performance levels.

Owens Corning is a prominent market player that announced the opening of its new facility in Joplin, US, as a part of the North American market. Thermafiber mineral wool insulation is the product that is being manufactured and has a huge line of applications in areas belonging to the commercial, industrial, and residential sectors. This is likely to open new doors for the market players to expand their operations and serve a larger target audience as a part of the building insulation materials for the period ending in 2028.


Following the trends, another prominent market player, CASF SE took to the international market for the launch of its newly designer Elastrspray LWP. this is an eco-friendly spray foam insulation. The launch of such products is imperative in helping the global players of the building insulation materials market size to expand as per the predictions during the forecast period.


Buitex industries, a French Enterprise specializes in the manufacturing processes related to the development of wood fiber insulation products for France along with the associated European markets. This acquisition helps enhance the availability of a huge range of multi-material insulation solutions.


Intended Audience



  • Government bodies and investment banks

  • Consulting companies and consultants of chemical and material sectors

  • End-use industries

  • Feedstock suppliers

  • Industry associations and manufacturers, dealers, and suppliers of building thermal insulation market


Report Overview


The buildings’ thermal insulation market report conducts a qualitative and deep analysis of the market functions that are helpful for the investors, target audience, leaders, and prominent market players. The report covers the following aspects of the market:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technology Analysis

  • Study Objectives

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments

  • Intended Audience 


The main idea behind covering these aspects of the market is to help the audience study the impact of the pandemic on the market and the expectations in the form of new product launches and collaborations that are on the way. The market report covers the market segmentation and their potential to earn reliable revenue figures. The report further discusses the regional and international competition based on the recent developments undertaken by the global market players during the forecast period from 2021 to 2028. The market report also discusses the market scope to increase the market developments through concepts of creativity and innovation.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2028: USD 40.64 billion
  • 2030: Significant Value
  •   CAGR

  • 5.34% (2021-2028)
  • 2030 : Substantial Value
  •   Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Material Type, Application, End use, and Region
      Geographies Covered   Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
      Key Vendors   johns Manville Corporation (US), Saint-Gobain SA (France), BASF SE (Germany), Kingspan Group (Ireland), Knauf Insulation (US), Owens Corning (US), Huntsman International LLC (US), Rockwool International A/S (Denmark), Firestone Building Products Company, LLC (US), Cabot Corporation (US), Dow (US), Covestro AG (Germany), URSA Insulation, SA (Spain), Paroc Group (Finland), GAF Materials LLC (US), Lapolla Industries, Inc. (US), NICHIAS Corporation (Japan), ODE Insulation (Turkey), Aspen Aerogels, Inc. (US), Trocellen GmbH (Germany), Recticel SA (Belgium), and KCC CORPORATION (South Korea).
      Key Market Opportunities   Increased infrastructural spending in arising economies is the major opportunity in this market.
      Key Market Drivers   Expanding force and energy prerequisites in arising just as evolved economies is significant Building Thermal Insulation Market.


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    Frequently Asked Questions (FAQ) :

    The worldwide Building Thermal Insulation Market Outlook is anticipated to contact USD 40.64 billion by 2028.

    The building thermal insulation market is predicted to grow at a 5.34% CAGR between 2021-2028.

    Europe is predicted to spearhead the building thermal insulation market during the forecast period.

    Notable players profiled in the building thermal insulation market include KCC CORPORATION (South Korea), Recticel SA (Belgium), Trocellen GmbH (Germany), Aspen Aerogels, Inc. (US), ODE Insulation (Turkey), NICHIAS Corporation (Japan), Lapolla Industries, Inc. (US), GAF Materials LLC (US), Paroc Group (Finland), URSA Insulation, SA (Spain), Covestro AG (Germany), Cabot Corporation (US), Dow (US), Firestone Building Products Company, LLC (US), Rockwool International A/S (Denmark), Huntsman International LLC (US), Owens Corning (US), Knauf Insulation (US), Kingspan Group (Ireland), BASF SE (Germany), Saint-Gobain SA (France), and Johns Manville Corporation (US).

    Key players have adopted different strategies to maintain their footprint in the building thermal insulation market such as joint ventures, collaborations, geographical expansions, product innovations, and others.