DUBLIN--(BUSINESS WIRE)--The "Global Building Thermal Insulation Market by Material (Glasswool, Stonewool, Plastic Foam), Application (Roof Insulation, Floor Insulation, Wall Insulation), Building Type (Residential, Non-Residential) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global building thermal insulation market will grow to USD 35.3 billion by 2027, at a CAGR of 4.7% from USD 28 billion in 2022.
The use of building thermal insulation has witnessed significant growth because of the increasing requirement for improved heating and cooling comfort and better fire resistance of building thermal insulation materials, such as glass wool, stone wool, and plastic foams. The key factors driving the building thermal insulation market are the recovery in new construction of residential and non-residential buildings worldwide.
Plastic foam material is projected to be the fastest-growing type of building thermal insulation market during the forecast period
By material, the building thermal insulation market is classified into glass wool, stone wool, plastic foam, and others. Plastic foam is estimated to dominate the market during the forecast period due to its increasing use in external facade insulation, external wall insulation, sandwich panel, and cavity wall insulation. The higher compressive strength and energy efficiency of plastic foam, especially EPS foam, is estimated to drive its demand in building thermal insulation.
Roof insulation application is estimated to be the second largest application in building thermal insulation market, in terms of value, in 2021
By application, the building thermal insulation market is segmented into wall insulation, roof insulation, and floor insulation. Roof insulation is projected to be the second largest application of building thermal insulation between in 2021. The increase in construction of non-residential buildings, such as industrial, commercial, educational, and healthcare buildings, is expected to drive the demand for roof insulation, globally.
Non-residential buildings are projected to be the fastest-growing end-use industry of building thermal insulation market during the forecast period
Building thermal insulation have wide usage in the medical industry. It is imperative for a drug to have a homogenous concentration in a solution; otherwise, it may not be as effective as it was designed to be. Building thermal insulation are added to the drug solution to form a finely dispersed solution. Tablets also have a certain amount of building thermal insulation added to them. By using building thermal insulation, the tablet disintegrates evenly inside the patient's body, thereby working effectively. Homogenous distribution of the pigment or color in the tablet also requires building thermal insulation.
North America is estimated to be the second-largest building thermal insulation market, in terms of value, in 2021
North America was the second largest market for building thermal insulation in 2021, in terms of value. Stringent building energy codes in the region and growth in the housing sector, accompanied by rising demand for green buildings, drive the demand for building thermal insulation. The retrofit market, development of green buildings, and rising energy efficiency codes and building specifications are estimated to drive the building thermal insulation market in the region. In addition, increased focus on energy-efficient buildings, stringent requirements for insulation, and new building codes has generated awareness regarding thermal insulation in buildings in the region.
Market Dynamics
Drivers
- Stringent Regulations to Reduce Greenhouse Gas Emissions
- Development of Green Buildings
- Reduction in Energy Consumption and Related Costs
- Rebates and Tax Credits
- Stringent Building Energy Codes
Restraints
- Fluctuation in Prices of Plastic Foam
- Availability of Green Insulation Materials
Opportunities
- High Energy Requirements
Challenges
- Lack of Awareness About Building Thermal Insulation
Companies Mentioned
- Aspen Aerogels, Inc.
- Atlas Roofing Corporation
- BASF SE
- Cellofoam North America, Inc.
- China MCC17 Group Co. Ltd.
- CNBM Group Co. Ltd.
- Dow Inc.
- GAF Materials Corporation
- Holcim Limited
- Huntsman International LLC
- Johns Manville Corporation
- KCC Corporation
- Kingspan Group PLC
- Knauf Gips KG
- Lapolla Industries, Inc.
- Lloyd Insulations (India) Limited
- Neo Thermal Insulation (India) Pvt. Ltd.
- Nichias Corporation
- ODE Insulation
- Owens Corning
- Recticel SA
- Rockwool International A/S
- Saint-Gobain SA
- Shenyang Jianzhu University
- Sika Group
- Trocellen GmbH
- Ursa Insulation SA
For more information about this report visit https://www.researchandmarkets.com/r/f8e7jk
