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New York, August 20, 2021 (GLOBE NEWSWIRE) – Building thermal insulation market Overview: According to a comprehensive research report from Market Research Future (MRFR), “Thermal insulation of buildings market Research Report: By Material Type, Plastic Foams, Application, Roof Insulation and Floor Insulation, End Use and Region – Global Forecast to 2028.” The market size is expected to reach USD 45.81 billion by 2028, registering a CAGR of 5.67% during the forecast period (2021 – 2028). The market was valued at USD 30.56 billion in 2020.
Market scope:
The MRFR Analysis profiles some of the most significant companies in the Global Building Thermal Insulation Market, namely
- Johns Manville Corporation (United States)
- Saint-Gobain SA (France)
- BASF SE (Germany)
- Kingspan Group (Ireland)
- Knauf Insulation (United States)
- Owens Corning (United States)
- Huntsman International LLC (United States)
- Rockwool International A / S (Denmark)
- Firestone Building Products Company LLC (United States)
- Cabot Corporation (United States)
- Dow (United States)
- Covestro AG (Germany)
- URSA Insulation SA (Spain)
- Paroc Group (Finland)
- GAF Materials LLC (United States)
- Lapolla Industries Inc. (United States)
- NICHIAS Corporation (Japan)
- ODE insulation (Turkey)
- Aspen Aerogels Inc. (United States)
- Trocellen GmbH (Germany)
- Recticel SA (Belgium)
- KCC CORPORATION (South Korea)
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Each of these companies has a substantial market share in thermal insulation of buildings and is making considerable efforts to expand its geographic reach by introducing highly innovative products and solutions. They also adopt many strategies such as collaborations, agreements and partnerships which add to the market value of thermal insulation of buildings.
The USP market exclusively encompassed:
Main growth drivers:
Thermal insulation of buildings reduces the total power used to cool or heat a home, while reducing heat leakage during winters and the penetration of hot air during summers. Thermal insulation of buildings is a very cost effective method used in different climates with varying temperature ranges.
The United States Environmental Protection Agency (EPA) and similar agencies around the world are working to promote the construction of green buildings, which involves the use of environmentally friendly and energy efficient practices and materials. resources throughout the life cycle of the building. At present, the focus is on the design of green buildings, with the aim of addressing challenges such as high and volatile energy prices, the negative impact on the health of occupants and the environment. . This emerging trend of sustainable construction and green buildings is expected to have a remarkable impact on the global market.
Green building rating systems, such as Leadership in Energy and Environmental Design (LEED) in Canada and the United States, Building Research Establishment Environment Assessment Methodology (BREEAM) in the United Kingdom, and others are working diligently to construction of green buildings. As the number of green building projects continues to soar around the world, the demand for thermal insulation of buildings will also increase rapidly in the years to come.
Browse the in-depth market research report (185 pages) on Thermal Insulation for Buildings
https://www.marketresearchfuture.com/reports/building-thermal-insulation-market-1543
Market constraints:
Lower awareness levels in underdeveloped countries regarding sustainable and green buildings may weaken market demand in the years to come.
COVID-19 analysis
With the COVID-19 epidemic wreaking havoc in various sectors, especially the construction industry, the growth of the building thermal insulation market has slowed significantly. The world market is shaken by massive financial constraints as well as by the imbalance between supply and demand.
However, the size of the building thermal insulation market will continue to grow as the government continues to fund comprehensive research and development activities, providing strong support to suppliers.
Market segmentation
The building thermal insulation industry has been assessed on the basis of material type, application and end use.
Based on the type of material, the building thermal insulation market can be divided into wool insulation [stone wool, glass wool], plastic foams [phenolic, polyurethanes (PU), extruded polystyrene (XPS), expanded polystyrene (EPS)] and much more.
The main types of materials studied in the MRFR report include roof insulation [flat roof, pitch roof], floor insulation and wall insulation [internal wall, external wall, air cavity wall].
The main end users of thermal insulation in buildings are residential and non-residential.
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Regional status
Asia-Pacific, Europe, as well as North America, the Middle East and Africa and Latin America are recognized as the main regions in which the building thermal insulation industry is expected to experience significant growth over the period considered.
Europe is the biggest winner in the global market, and this is expected to be the trend throughout the review period. The size of the building thermal insulation market will continue to grow rapidly, thanks to the strict regulations implemented by agencies such as the European Commission and the registration, assessment, authorization and restriction of chemicals ( REACH) which encourage the use of thermal insulation in buildings and reduce total energy consumption.
The market value of thermal insulation of buildings in the Asia-Pacific market will continue to increase at the fastest rate between 2020 and 2027. The region is experiencing a dramatic increase in the number of construction activities, with the strong government support, which increased product demand to a large extent. In addition, the population explosion and rising GDP have favored the number of residential and commercial buildings, in turn increasing the consumption of thermal insulation materials in the region.
The growth of the thermal insulation building market in North America has also been remarkable, given the strong presence of several agencies such as the Leadership in Energy and Environmental Design (LEED) and the US Green Building Council (USGBC). These agencies aim to strengthen the use of quality insulation materials in buildings to reduce carbon emissions and improve overall sustainability.
The thermal insulation of buildings market share in Latin America is growing at a steady rate, due to climate change as well as increasing global warming issues in countries like Colombia and Peru. As a result, the region is gradually opting for sustainable construction and, in turn, increases the demand for thermal insulation materials.
Discount on report:
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Market segmentation covered by research:
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 soil insulation), end use (residential, non-residential and industrial) and region (Asia-Pacific, Latin America, North America, Europe and the Middle East and Africa) – Global forecast to 2028.
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