As per a recently published report by Fortune Business Insights™ titled, “Building Thermal Insulation Market Size, Share & Industry Analysis, By Material (Mineral Wool {Glass Wool, Stone Wool}, Foamed Plastics {Expanded Polystyrene [EPS], Extruded Polystyrene [XPS], Polyurethane [PU], Polyisocyanurate [PIR], and Other Foamed Plastics}, Cellulose, Aerogels, and Others), By End-Use (Residential and Non-residential), By Application Area (Floor & Basement, Wall, and Roof & Ceiling), and Regional Forecast, 2019-2026,” the market value was USD 28.45 Billion in 2018 and will exhibit a CAGR of 4.4% between 2019 to 2026.
Need for Controlling Heat Transfer in Buildings will Add Impetus to Market
The rise in building and construction activities worldwide is a major driver promoting the building thermal insulation market growth. In addition to this, there is an increasing need to maintain an average temperature inside the buildings. This is done by decreasing the heat transfer between adjacent environments and reduce the carbon footprint by constricting the heat conduction to the external surroundings. This, coupled with the rise in energy cost will also boost the market in the forecast period. Moreover, rapid modernization and industrialization have propelled the installation of thermal insulation systems in commercial buildings to conserve energy, and this will aid in the expansion of the market in the coming years.
Regional Segmentation:
Asia Pacific Emerged Dominant Owing to Stringent Regulations Imposed on Infrastructural Development
As per the current geographic segmentation, the market is dominated by Asia Pacific that earned USD 13.04 billion in 2018. It is also considered to emerge as the fastest-growing region as a result of large scale investments on infrastructural development by governments of Southeast Asia, India, and China. Additionally, governments in China and India have imposed strict rules on the consumption of energy in the coming five years, and this will further aid in the expansion of the market in the coming years. On the other side, the North American market will rise substantially, owing to the increasing awareness among people about energy-saving technologies.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/building-thermal-insulation-market-102708
List of Players Functioning in Building Thermal Insulation Market are as following;
- Armacell S.A.
- Owens Corning
- Knauf Insulation
- DuPont
- Cellofoam North America Inc.
- BYUCKSAN
- Bondor Indonesia
- IMERYS Group
- Evonik
- Atlas Roofing Company
- Beijing New Building Material (Group) Co., Ltd.
- Other vendors
Consolidated Nature will Further Intensify Market Competition
The market is consolidated in nature owing to the presence of many players. Among these, the top 10 companies hold 70% building thermal insulation market revenue. Significant players are investing in research and development of several products for thermal insulation in buildings. Others are entering into collaborations, mergers and acquisitions, contracts and agreements, and other strategies for gaining a competitive edge in the market. The main objective behind all this is to provide superior operational efficiency, novel and safe technology for application, and to expand the product portfolio and emerge dominant in the market competition.
