PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1455826
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1455826
The building thermal insulation market is poised for steady growth, with a projected value of USD 37.0 billion by 2028, exhibiting a robust CAGR of 4.8% from its 2023 value of USD 29.2 billion. The comfort of building residents is a priority in modern construction. An even and comfortable interior temperature can be sustained all year round with the aid of proper thermal insulation. Green building focuses on eco-friendly methods. Moreover, building thermal insulation subsequently reduces greenhouse gas emissions by lowering energy usage.
Scope of the Report | |
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Years Considered for the Study | 2017-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD Million) and Volume (Kiloton) |
Segments | Material, Application, Building type and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Plastic foam segment is projected to be the fastest growing material of building thermal insulation, in terms of value, during the forecast period."
The plastic foam segment is the largest application in the building thermal insulation market in terms of value, in 2022. Plastic foam is lightweight and flexible enough to be molded and sculpted to meet a variety of construction requirements. Improved plastic foam compositions with improved fire resistance and thermal characteristics are continuously being developed by manufacturers. Plastic foam has a competitive price point and strong thermal resistance (R-value) when compared to certain other insulation materials.
"Wall Insulation to be the fastest growing application for building thermal insulation market, in terms of value, during the forecast period"
The building thermal insulation market is segmented into wall insulation, floor insulation, and roof insulation based on application. The wall insulation application segment led the global building thermal insulation market, in terms of value, in 2022 due to its versatile properties. Enhanced weatherproofing and soundproofing, improved building's thermal performance while reducing its CO2 emission are some of the properties that fuel the demand for wall insulation in building thermal insulation market.
"Residential segment to be the fastest growing building type for building thermal insulation market, in terms of value, during the forecast period"
The residential building type dominates the building thermal insulation market due to many factors. The dominance is due to the extensive applications of building thermal insulation in residential construction. It finds wide use in residential buildings for insulating walls, floors, roofs, and basements. This is a favorably chosen material that contributes to energy efficiency, comfortable indoor conditions, and adherence to building codes because of its outstanding thermal insulating qualities, moisture resistance, and structural support. The building thermal insulation market is also becoming increasingly popular in the residential buildings because of changing industry standards and regulatory pressure.
"Europe was the largest building thermal insulation market in 2022, in terms of value."
Europe held a dominant position in the building thermal insulation market in 2022, owing to the presence of significant players such as Kingspan Group PLC, BASF SE, Saint-Gobain SA, who have strengthened the region's standing in this industry. Europe has a significant market for building thermal insulation, primarily due to stringent building regulations emphasizing energy efficiency and insulation standards in construction practices across the region. These regulations have driven the widespread adoption of building thermal insulation in various building types, including residential, non-residential, and others.
The key market players illustrated in the report include Kingspan Group PLC (UK), Knauf Gips KG (Germany), Owens Corning (US), Rockwool A/S (Denmark), Saint-Gobain SA (France), BASF SE (Germany), Dow Inc. (US), Johns Manville Corporation (US), GAF Materials Corporation (US), CNBM Group Co., Ltd. (China), and Aspen Aerogels, Inc. (US).
Research Coverage
This report segments the market for building thermal insulation on the basis of material, application, building type, and region, and provides estimations for the overall value (USD Million) of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for building thermal insulation.
Reasons to buy this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the building thermal insulation market; high-growth regions; and market drivers, restraints, opportunities, and challenges.