The global building thermal insulation market size is projected to reach USD 40.21 Billion by 2026 on account of the rise in building and construction activities around the world. Thermal insulation in a building includes the prevention of heat transfer via the encasement of the building. It also provides auxiliary support to the structure of the building and its roof and shields it from energy loss. 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.
Report Highlights
The report offers a qualitative and quantitative analysis of the market and its growth trajectories, such as restraint, drivers, opportunities, and challenges. It also talks about the competitive landscape of the market, the list of players operating in the market, and the key strategies adopted by them to gain a competitive edge in the market. Furthermore, the report talks about the current building thermal insulation market trends, significant industry developments, and other interesting insights into the market. The table of segmentation is also discussed in the report in detail. For more information on the report, log on to the company website.
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Market Drivers
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.
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Competitive Landscape:
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.
List of Players Functioning in the Building Thermal Insulation Market are the 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.
- KCC Corporation
- Kaneka Corporation
- Johns Manville
- Huamei Energy-saving Technology Group Co., Ltd.
- ROCKWOOL International A/S
- NICHIAS Corporation
- Lloyd Insulations (India) Limited
- Kingspan Insulation LLC
- Superglass Insulation Ltd.
- GAF
- P. Twiga Fiberglass Limited
- Firestone Building Products
- Ursa
- Reciticel Group
- Other vendors
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Major Industry Developments of the Building Thermal Insulation Market include:
August 2018 – ACH Foam technologies were acquired by Atlas Roofing Company for manufacturing and expansion of their EPS foam business.
December 2019 – The glass wool manufacturing facility of Superglass located in Stirling, Scotland, was expanded by investing USD 42 million. The main objective behind this expansion is to meet the rising demand for glass wool insulation from consumers.
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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 MarketThe rise in building and construction activities worldwide is a major driver promoting the building thermal insulation market growth.
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.
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 DevelopmentAs per the current geographic segmentation, the market is dominated by Asia Pacific that earned USD 13.04 billion in 2018.
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-102708List of Players Functioning in Building Thermal Insulation Market are as following;Armacell S.A.Owens CorningKnauf InsulationDuPontCellofoam North America Inc.BYUCKSANBondor IndonesiaIMERYS GroupEvonikAtlas Roofing CompanyBeijing New Building Material (Group) Co., Ltd.Other vendorsConsolidated Nature will Further Intensify Market CompetitionThe market is consolidated in nature owing to the presence of many players.
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