Press Release / Building Thermal Insulation Market
Building Thermal Insulation Market to Expand Size at a CAGR of 4.5% During 2022-2029; Factors such as Providing Supplementary Support to Infrastructure & Rising Concerns Regarding Energy Saving
May 12, 2022 | Chemicals & MaterialsThe global building thermal insulation market size reached USD 29.85 billion in 2021. The market value is estimated to increase from USD 31.15 billion in 2022 to USD 42.53 billion in 2029 at a CAGR of 4.5% in 2022-2029. This information is published by Fortune Business Insights™, in its 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 Application (Floor & Basement, Wall, and Roof & Ceiling), By End-Use (Residential and Non-residential), and Regional Forecast, 2022-2029”
Rising Infrastructural Requirement from Healthcare During Pandemic to Contribute Toward Market Growth
As the pandemic was declared as a global healthcare emergency by 2020, many emerging economies, including China, India, and Germany imposed nationwide lockdowns to curb the spread of the virus. Restrictions on the movement of the general population caused a severe impact on the supply chain, leading to a dip in the market.
However, many countries prioritized increasing their healthcare infrastructure, allowing prominent players to bulk up their revenue. These players had to operate at less-than-optimal workforce capacity, which led to slow progress of the market. Products are now being developed with added benefits including a reduction in energy demands and supporting a sustainable environment. This factor led to a revival of the market to a certain extent.
Atlas Roofing Corp Introduces SureSlope – A Fabricated Product Range
Atlas Roofing Corporation introduced a new line of fabricated products, SureSlope. It is a line of tapered products that were rebranded from the Gemini Pre-Cut Polysio Roof Insulation range. This product range will offer contractors, architects, and engineers a more precise control in terms of functions and add a wider range of benefits.
Each product is produced with a closed-cell polyisocyanurate foam core on the internal structure and bonded to non-asphaltic, fiber-reinforced organic or inorganic coated-glass facers. This will provide the structure more stability dimensionally and improve thermal performance.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/building-thermal-insulation-market-102708
Expanding Building Sector & Rising Energy Expenditure to Bolster Growth
The building thermal insulation market growth is attributed to the ever-increasing building & construction sector along with rising benefits, including reduction of heat transfer rate and providing support to the infrastructure. Additionally, increased demand for insulation requirements from the residential & commercial sector and rising expenditure costs toward energy & power will increase the footprint of the market.
Also, an emerging trend of Do-it-Yourself (DIY) for consumers unable to afford professional services, will integrate a higher volume toward the market of building thermal insulation. The rising availability of a wide range of products will further lead to a wider expansion berth for the market. For example, DuPont began selling its Froth-Pak, which is a spray-based kit that allows for rapid solutions for filling voids & gaps.
Notable Industry Development:
- January 2020: IMERYS Group announced signing an agreement for acquiring the building thermal insulation business of Hyderabad Industries Limited. This acquisition is expected to give IMERYS Group a suitable platform for extending its solutions in the Indian market.
List of Players in the Market:
- 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.)
Further Report Findings:
- By end-use, the residential segment is expected to witness the highest segmental growth during the forecast period due to the latter having the largest potential for energy savings.
- Asia Pacific will occupy the largest building thermal insulation market share during the forecast period, owing to rising infrastructure developments by government bodies and stricter restrictions on energy usage. North America will hold a significant market share in terms of global contribution due to a higher level of awareness among consumers and considerable government support regarding energy-saving technologies.
Table of Segmentation:
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD Billion) and Volume (Million Square Meters) |
Segmentation | By Material, Application, End-Use, and By Region |
By Material |
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By Application |
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By End-Use |
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By Region |
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