Stratview Research has published a new report on the Building Thermal Insulation Market and bifurcated the market by Material Type (Stone Wool, Glass Wool, Plastic Foam (Polystyrene and PUR & PIR), and Others), by Application Type (Roof Insulation (Flat Roof & Itched Room), Wall Insulation (External Wall Insulation, Internal Wall Insulation, and Cavity Wall Insulation), and Floor Insulation), by Building Type (Residential Building, Non-residential Building), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

According to the report, the building thermal insulation market was estimated at USD 28.06 billion in 2022 and is likely to grow at a CAGR of 4.66% during 2023-2028 to reach USD 37.01 billion in 2028.

What is building thermal insulation?

Building thermal insulation is a vital and cost-effective component used for sustainable construction. It involves the use of various techniques to minimize the amount of heat that escapes in winter and controls the hot air entering the house. Thermal insulation not only enhances the occupant’s comfort but also reduces greenhouse gas emissions contributing to cost savings in the long run.

Key Players

• Johns Manville Corporation,
• Saint-Gobain S.A.,
• BASF SE,
• Kingspan Group plc,
• Knauf Insulation, Inc.,
• Owens Corning,
• Huntsman Corporation,
• Rockwool International A/S,
• Firestone Building Products Company,
• Cabot Corporation,
• Dow Chemical Company,
• Covestro AG,
• URSA Insulation, S.A.,
• Paroc Group Oy,
• Atlas Roofing Corporation,
• GAF Materials Corporation,
• Lapolla Industries, Inc.,
• Beijing New Building Material (Group) Co., Ltd.,
• NICHIAS Corporation,
• Fletcher Building Limited,
• ODE Industry and Trade Inc.,
• Aspen Aerogels, Inc.,
• Trocellen GmbH,
• Recticel SA,
• KCC Corporation.

KEY BENEFITS:

-        This report helps the users in understanding the strategies adopted by various key players across the globe, for the growth of the Building Thermal Insulation Market.

-        The report studies the market conditions across all geographic regions and the data compiled here in the report are comprehensively analyzed.

-        The drivers and restraints of this market are systematically analyzed so that the user could make use of every particular driver/opportunity related to the market.

-        The report highlights the value chain analysis that offers key insights to the stake holders of this market.

Segment-Wise Market Analysis

Based on the material type, the market is segmented as stone wool, glass wool, plastic foam, and others. The plastic foam segment dominated the market in 2022 and is expected to maintain its position during the forecast period. Higher thermal resistance (R-Value), versatility, strength, and lifespan are some of the major features leading to the dominance of the segment in the global market.

Based on the application type, the market is segmented into roof insulation, wall insulation, and floor insulation. The wall insulation segment held the largest share of the market in 2022 and is expected to witness healthy growth during the forecast period. Rising demand for energy-efficient buildings along with maximum loss of energy through building walls is the major factor behind the dominance of the wall insulation segment.

Based on the building type, the building thermal insulation market is segmented into residential buildings and non-residential buildings. The residential building segment holds the larger share of the market and is also expected to witness healthier growth during the forecast period. Revival of the construction industry from subprime crises and euro-debt crises along with significant economic development in the Asia-Pacific region are the major factors driving the growth of residential buildings.

In terms of regions, North America is estimated to be the largest market for building thermal insulation during the forecast period. Significant demand from various end-use industries and the presence of major players in the region are the key factors behind the dominance of the region in the global building thermal insulation market. Asia-Pacific is expected to witness the highest growth during the forecast period. China, Japan, South Korea, and India are the driving forces of the region’s market.

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