Global Building Thermal Insulation Market Analysis by Product, Application, End Use, Region and segments forecast till 2033

Market Overview

The global building thermal insulation market was valued at USD 23,000 million in 2022 and is poised to expand at a CAGR of 5.7% over 2023-2033, thereby amassing USD 37,880 million by end of the assessment timeframe.

Report Scope

Thermal insulation is referred to the adoption of insulation materials and designs for residential and commercial buildings so as to slow the transfer of heat. This insulation process can also reduce the energy needs of the heating and cooling systems embedded in a building. The commonly used thermal insulation materials are glass wool, cellulose, urethane foam, vermiculite, perlite, wood fiber, and plant fiber, among others.

The rigid government regulations aimed at reducing greenhouse gas emission rates along with the widespread development of green buildings across the globe are primarily aiding the expansion of this business vertical. Furthermore, rapid industrialization and widespread urbanization coupled with rising pollution levels are positively swaying the industry dynamics. Alongside this, escalating demand for efficient energy sources and rapidly transforming climatic conditions worldwide are creating lucrative growth opportunities for the marketplace. 

Also, growing public cognizance of the importance of energy conservation and surging carbon footprints in emerging economies are adding momentum to the industry's progression. Besides, increasing instances of fossil fuel depletion, widespread population expansion, and a rise in construction activities across the globe are creating an upward trend for market development. Moreover, rising R&D investments along with the integration of innovative technologies in the field are augmenting the outlook of this business sphere. On the contrary, volatility in the prices of raw materials is limiting the remuneration scope of the market vertical.

With widespread industrialization and urbanization, there has been an escalating demand for efficient energy sources. But this growing energy need has also resulted in the depletion of fossil fuels and a massive increase in the emission rate of greenhouse gases. This in turn has shifted the focus of the public and concerned authorities toward energy conservation and emission reduction. These factors are positively swaying the dynamics of this marketplace. There has been rapid adoption of roof insulations in residential buildings owing to their ability to limit heat loss through ceilings. It is referred to as an affordable and efficient method to reduce energy consumption. This in turn is adding traction to the growth of this industry vertical.

Product Insights

The Mineral Wool segment is poised to amass notable gains over 2023-2033 due to the wide array of beneficial characteristics of the products such as efficient heat barrier, fire safety, dimensional stability, and ecological compatibility. Governments around the world have been implementing regulations to promote energy efficiency in buildings, which has led to an increased demand for thermal insulation materials such as mineral wool. Mineral wool has excellent thermal insulation properties and is therefore an attractive option for builders and architects looking to comply with energy efficiency standards.

Application Insights

The Roof segment is slated to generate significant returns over the stipulated timeline owing to the rise in single-unit housing across the globe. Building owners and managers are increasingly aware of the potential cost savings that can be achieved through the installation of thermal insulation. By reducing heat loss through the roof, buildings require less energy for heating and cooling, resulting in lower energy bills.

End Use Insights

The Residential segment is expected to lead the market in terms of volume share. This is credited to the rise in multi-family housing constructions, re-insulation of old houses, and surge in construction expenditure worldwide. Many countries and regions have implemented regulations aimed at improving the energy efficiency of buildings, in order to reduce greenhouse gas emissions and combat climate change. Building codes now require higher levels of insulation, and existing buildings are being retrofitted with insulation in order to comply with these regulations.

Regional Insights

North America, the Middle East & Africa, Europe, Asia Pacific, and Latin America are the major regions constituting the geographical terrain of this business sphere. Among these, Asia Pacific is projected to capture a substantial CAGR over 2023-2033. This is attributable to the rapid urbanization, rise in construction activities, and growing environmental consciousness of the masses.

Competitive Analysis

The prominent players characterizing the competitive gamut of this market vertical are Arkema SA; BASF SE; Beijing New Building Material (Group) Co. Ltd.; Clariant AG; Covestro AG; DowDuPont Inc.; Eastman Chemical Co.; Evonik Industries AG; Fletcher Building Ltd.; GAF Industries Inc.; Johns Manville Corp.; Kingspan Group PLC.

·         In July 2021, Isolana, a leading manufacturer of thermal insulation materials in Argentina, announced that it had expanded its production capacity by opening a new manufacturing plant in the province of Santa Fe. The new plant is equipped with the latest technology and is expected to increase Isolana's production capacity by up to 50%.

·         In April 2021, Mecanizados Aeronáuticos S.A., a company specializing in the design and manufacture of aerospace components, announced that it had entered into a strategic partnership with a leading supplier of thermal insulation materials. The partnership is aimed at developing innovative thermal insulation solutions for the aerospace industry.

Global Building Thermal Insulation Market- Segmental Analysis

By Product:

• Glass Wool

• Mineral Wool

• EPS

• XPS

• Others

By Application:

• Roof

• Walls

• Floor

By End Use:

• Residential

• Commercial

Why to buy this Report?

The report provides quantitative and qualitative aspect for Global Building Thermal Insulation Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in Global Building Thermal Insulation Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

•             Business Model

•             Production Capacity, Revenue, Sales, Gross Margin

•             Key Business Strategy

•             SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:

•             Company Share Analysis from 2020-2022

•             Company Analysis by Revenue and Sales

•             Company Production Capacity, Gross Margin

•             Company Share Analysis by Card Type/Card Type

•             Company Share Analysis by Product/Specification