The global building thermal insulation market size is expected to gain traction by reaching USD 38,588.8 million by 2027 while exhibiting a CAGR of 4.2% between 2020 and 2027. This is ascribable to factors such as the rising building and construction industry, along with the growing demand to reduce energy costs across the globe. This information is published by Fortune Business Insights, in its latest report, titled“Building Thermal Insulation Market Size, Share & COVID-19 Impact 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 (Floor & Basement, Wall, and Roof & Ceiling), and Regional Forecast, 2020-2027.” The report further observes that the market stood at USD 29,656.9 million in 2019.

 

Increasing Focus on Development of Healthcare Infrastructure amid COVID-19 to Favor Growth

The novel coronavirus is driving the demand for advanced healthcare services to contain its widespread globally. As a result, the government agencies are focusing on developing sophisticated healthcare infrastructures to treat COVID-19 patients, and further find solutions to limit its spread. This is likely to bode well for the market growth in the forthcoming years.

Thermal insulation is a vital technology that aids in the reduction of energy consumed by preventing heat gain/loss within a building structure. This reduction of unwanted temperature changes drastically reduces the demand for cooling and heating systems.

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List Top Companies Profiled in the Global Building Thermal Insulation Market are:

  • BASF (Germany)
  • Atlas Roofing Company (U.S.)
  • Cellofoam North America Inc. (U.S.)
  • DuPont (U.S.)
  • Knauf Insulation (U.S.)
  • Owens Corning (U.S.)
  • Armacell S.A. (Luxembourg)
  • Beijing New Building Material (Group) Co., Ltd. (China)
  • Evonik (Germany)
  • PT. Bondor Indonesia (Indonesia)
  • BYUCKSAN (South Korea)
  • Huamei Energy-saving Technology Group Co., Ltd. (China)
  • Johns Manville (U.S.)
  • Kaneka Corporation (Japan)
  • KCC Corporation (South Korea)
  • Kingspan Insulation LLC (Ireland)
  • Lloyd Insulations (India) Limited (India)
  • NICHIAS Corporation (Japan)
  • ROCKWOOL International A/S (Denmark)
  • U.P. Twiga Fiberglass Limited (India)
  • GAF (U.S.)
  • Superglass Insulation Ltd. (Scotland)
  • Recticel Group (Belgium)
  • Ursa (Spain)
  • Firestone Building Products (U.S.)

The Building Thermal Insulation research study also presents a comprehensive analysis of the market in terms of the present competitive landscape and the market scenario. It also provides information regarding the latest technologies and innovations in the market, which covers a wide range of factors that are crucial to the clients and offers actionable insights into the Building Thermal Insulation market. This intelligence study will assist the clients in gaining a higher market share and valuable insights into various segments that influencing the growth of the Building Thermal Insulation market over the globe.

 

DRIVING FACTORS

Rising Building & Construction Sector to Augment Growth

The rapid-paced urbanization has provided an impetus to building & construction activities across the globe. With several residential and commercial projects in the pipeline, it presents a significant opportunity for the adoption of advanced building thermal insulation products. Additionally, the rising energy costs are propelling the demand for insulation services that will contribute to the growth of the global building thermal insulation market during the forecast period.

 

SEGMENTATION

Residential Segment to Hold Major Market Share Owing to High Energy Consumption

The residential segment, based on end-use, is expected to remain at the forefront owing to high energy consumption by residential areas that drive the demand for advanced building thermal insulation materials to reduce energy costs. As per the European Commission report on the insulation materials industry for energy-efficient buildings, residential buildings consume about 40% of primary energy demand across the globe.

 

REGIONAL INSIGHTS

High Government Investment in Asia-Pacific to Develop Sustainable Infrastructure Projects to Propel Growth

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global market during the forecast period. This dominance is attributable to the rising government expenditure to develop sustainable infrastructure in countries such as China, India, and Japan that propels the demand for advanced building thermal insulation products in the region. Asia Pacific stood at USD 13,806.5 Million in 2019.

The market in Europe is anticipated to experience exponential growth during the forecast period. This is ascribable to factors such as the growing demand for innovative building thermal insulation materials for the several retrofitting purposes of old and dilapidated buildings in the region between 2020 and 2027.

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COMPETITIVE LANDSCAPE

Major Companies Investing in Facility Expansion to Boost Sales Revenue & Maintain Dominance

The global building thermal insulation market is fragmented by the presence of major companies that account for over 70% share in terms of revenue. These companies are investing in expanding their facilities to cater to the growing demand for building thermal insulation products and further maintain their dominance in the highly competitive global marketplace.

 

Key Industry Development:

July 2019 – Knauf Insulation announced the expansion of its fiberglass loose-fill insulation facility located in Albion, Michigan. According to the company, the development of the plant will improve its capacity by over 30% to cater to the growing insulation demand from residential and commercial spaces across the upper Midwest, U.S.

 

Building Thermal Insulation industry key questions answered in this report:

  • What are the key factors driving Building Thermal Insulation Market?
  • What are the market opportunities, market risks, and market overviews of the Building Thermal Insulation Industry?
  • What is regional sales, income, and price analysis for Building Thermal Insulation Market?
  • What are the opportunities and threats faced by the Building Thermal Insulation  Market vendors?
  • Which region will make notable contributions towards Building Thermal Insulation Industry revenue?
  • What are the key players leveraging Building Thermal Insulation Market growth?

The Building Thermal Insulation Market report can help to understand the market and strategize for business expansion accordingly. The strategy analysis, gives insights from marketing channel and market positioning to potential growth strategies, providing in-depth analysis for new entrants or exists competitors in the Building Thermal Insulation industry. This Building Thermal Insulation market report also states import/export consumption, supply and demand Figures, cost, price, revenue, and gross margins. For each manufacturer covered, this report analyzes their Building Thermal Insulation manufacturing sites, capacity, production, ex-factory price, revenue, and market share in the global Building Thermal Insulation market.

 

Report Focus on:

  • Extensive product offerings
  • Customer research services
  • Robust research methodology
  • Comprehensive reports
  • Latest technological developments
  • Value chain analysis
  • Potential Market opportunities
  • Growth dynamics
  • Quality assurance
  • Post-sales support
  • Regular report updates

 

Reasons to Purchase this Report:

  • Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
  • Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
  • Identifies market restraints and boosters.
  • Identifies all the possible segments present in the market to aid organizations in strategic business planning.

The Global Building Thermal Insulation Market research report provides an in-depth analysis of the key competitors along with the product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis, and so on, to gauge the impact forces and potential opportunities of the market. This helps the client to understand and gain insights about the leading competitors operating in this Building Thermal Insulation market and plan the strategies accordingly. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, mergers, acquisitions, collaborations, and so on to understand the prevalent market dynamics and their impact during the forecast period, 2020-2027.

 

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By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.

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