Global Building Thermal Insulation Market by Application (Roof, Floor, Wall) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global building thermal insulation market was valued at USD 27.98 million in 2018, and is forecast to grow at a 4.8% CAGR. The growth is expected to be driven by the increasing residential and commercial use of the product to lower energy costs. This will also coincide with rising awareness about energy conservation.

Market growth will be driven by favorable regulations that focus on lowering overall energy consumption. The growth is likely to be aided by thermal insulation, which reduces dependence on heat, ventilation, and air conditioning (HVAC).

North America's largest market share will be held by the United States. Diverse initiatives, such as Weatherization Assistance Program (WAP), which focuses on product adoption at large scale in low-income households, are expected to play an important role in driving growth.

The favorable building codes in Canada and the United States, along with the establishment of energy certification agencies like the U.S. Green Building Council and Leadership in Energy and Environmental Design (LEED), are expected to increase the demand for thermal insulation. The market may be affected by strict regulations imposed in the United States by the Environmental Protection Agency (EPA), regarding the use of foamed materials. These plastics are low in biodegradability and can cause cancer.

Over the forecast period, the industry will shift its focus to developing environmentally-friendly products due to the potential environmental impacts of insulation materials. The industry's growth will be affected by rising prices for plastic foam, which could lead to the development and sale of other products.

Due to strict regulations that govern conventional products like plastic foams, recycled insulation is growing in popularity. The market will be more vulnerable to substitutes as homeowners and architects are likely to show an increase in their preference for eco-friendly, biodegradable and recyclable products over the forecast period.

Product Insights

EPS Expected to show the highest CAGR (5%) in terms of revenue during the forecast period. This is due to its exceptional thermal insulation properties as well as a long lifespan. The product's non-toxic, rotproof and recyclable qualities will also increase the demand.

Extruded Polystyrene will see significant growth in the future due to its ability to reduce moisture-related damage, resist water and enable energy savings. Its ability to prevent microbial and fungal growth in the insulated areas is expected to further boost growth.

In 2018, mineral wool insulation held 12.3% of the market. It is expected to show significant growth due to its superior properties, including fire safety and heat barrier efficiency, ecological compatibility and dimensional stability. It is expected that mineral wool will be used more in thermal barrier applications over the forecast period.

Due to increasing product penetration in North America, cotton wool and wool slag will also see moderate growth rates over the forecast period. The growth is expected to be driven by a growing preference for thermal insulation in buildings as an alternative to foamed poly insulation.

Application Insights

In 2018, roof application represented 35.07% of the market. This is due to the increasing need to prevent heat penetration through roofs. Market growth will be boosted by the increasing number of single-housing units.

The market for building thermal insulation was led by wall application in 2018. It is expected to grow at a CAGR 4.9% in terms revenue during the forecast period. This is due to the increasing use of the product on both exterior and interior walls. The industry's growth is expected to be aided by increasing penetration of insulation for cavity walls.

Due to the rising demand for HVAC applications to lower energy costs, floor application is expected to see moderate growth in the forecast period. There are many applications for thermal insulation in flooring, including basement, garage and crawl space. Market growth will be driven by increased product penetration in cold regions for floor insulation.

End-Use Information

The highest CAGR for residential construction will be 5.0% over the forecast period. This is due to the rapid growth in single-unit homes and the refurbishment or re-insulation old houses. Market growth will also be supported by the expected growth in multifamily housing construction.

In 2018, 51.9% of total revenue was attributed to the commercial construction sector. The growth is expected to be complemented by an increase in energy efficiency for commercial and public buildings due to high energy costs, which can lead to higher maintenance costs.

Regional Insights

Europe held 35.6% of the global market share in 2018, and it is expected to continue to be the dominant market until 2025. Regional growth will be supported by initiatives like the Registration, Evaluation, Authorisation, and Restriction on Chemicals (REACH), and the European Commission to promote energy conservation through thermal insulation.

The growth is expected to be supported by the booming residential and commercial construction industry in North America. This is complemented with strict green building codes that reduce energy consumption per structure. The growth is expected to be boosted by favorable government regulations that will allow the product to be adopted for both residential and commercial structures.

Due to rising construction activity in the region to meet the growing needs of a population, the Asia Pacific will experience the greatest growth. China is expected to have the largest share of the region's population, due to its numerous government initiatives to improve its infrastructure.

The region's market growth will be affected by political and economic instability in South and Central America. The government is making efforts to improve the economy. However, it is expected to increase the growth rate soon.

Market Share Insights & Key Companies

Market players are focusing on increasing their market share through acquisitions and mergers. To expand their product range, industry participants are investing in research and development to develop cost-effective products that have better properties. To meet rising product demand, manufacturers also work to expand their manufacturing capabilities.

The market is mature, and the majority of its application segments are experiencing steady growth. Due to high demand for insulation products, the market is highly price sensitive. High industry competition is likely to be a result of new constructions and the implementation of energy efficiency codes.

Report on the Building Thermal Insulation Market Scope

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2014 through 2025. Grand View Research has divided the global market for building thermal insulation based on product, region, and application.

• Product Outlook (Volume of Kilotons; Revenues, USD Million, 2014-2025)

  • Glass wool

  • Mineral Wool

  • EPS

  • XPS

  • Other

• Application Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • Roof

  • Walls

  • Floor

• End-Use Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • Residential

  • Commercial

• Regional Outlook (Volume of Kilotons; Revenues; USD Millions, 2014-2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Spain

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Indonesia

    • Malaysia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE

    • Qatar

    • South Africa

These are the most frequently asked questions about this report

b. Global building thermal insulation market was valued at USD 29.24 Billion in 2019, and is forecast to grow to USD 30.58 Billion by 2020.

b. Global building thermal insulation market will grow at a compound annual rate of 4.8% between 2019 and 2025, to reach USD 38.95 Billion in 2025.

b. With a 35.5% share in 2019, Europe was the dominant market for building thermal insulation. This can be attributed to strict green building codes that reduce energy consumption per structure.

b. Rockwool International A/S, GAF Materials Corporation, Guardian Building Products, Inc., Huntsman International LLC are some of the key players in the market for building thermal insulation.

b. The key factors driving growth in the market for building thermal insulation include increasing residential and commercial use of the product to lower energy costs, as well as rising awareness regarding energy conservation.

Up Market Research published a new report titled “Building Thermal Insulation Market research report which is segmented by Application (Roof, Floor, Wall), By Players/Companies Guardian Building Products, Huntsman International LLC, Inc, Rockwool International A/S, GAF Materials Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Building Thermal Insulation Market Report Segments:

The market is segmented by Application (Roof, Floor, Wall).

Building Thermal Insulation Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Building Thermal Insulation Market

Overview of the regional outlook of the Building Thermal Insulation Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Building Thermal Insulation Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Building Thermal Insulation Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Roof

                2. Floor

                3. Wall

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Building Thermal Insulation Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Building Thermal Insulation Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.