The building thermal insulation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Building Thermal Insulation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The building thermal insulation market size has grown steadily in recent years. It will grow from $29.76 billion in 2023 to $30.75 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to energy efficiency regulations and building codes driving demand for insulation, increasing awareness of environmental sustainability and energy conservation, increased construction industry, fluctuating energy prices, and government incentives.
The building thermal insulation market size is expected to see steady growth in the next few years. It will grow to $35.83 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to climate change mitigation efforts and the need for energy-efficient buildings, adoption of green building certifications and standards, research and development of high-performance and sustainable insulation materials, increasing demand for passive house and zero-energy building designs, and urbanization and population growth. Major trends in the forecast period include biodegradable and sustainable insulation materials, aerogel insulation, prefabricated insulation panels, high-performance insulation for cold climates, and insulation for aging buildings.
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Scope Of Building Thermal Insulation Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Building Thermal Insulation Market Overview
Market Drivers –
The increase in the construction of green buildings is expected to propel the growth of the building thermal insulation market going forward. A green building minimizes or eliminates harmful effects on the climate and natural environment during design, construction, or operation. Green structures don’t affect natural resources and raise the standard of living. Building thermal insulation is used in the construction of green buildings to make them more energy efficient, and it also helps to keep the building cool naturally. For instance, according to Times Property, an India-based e-commerce property sales, and purchase platform, in 2020, construction of green buildings increased in India. There was a 37% increase in buildings with green certification. Further, according to CBRE, a US-based commercial real estate company, the overall amount of green assets in India has increased to nearly 40%. Further, according to the Singapore Green Building Council, a Singapore-based government organization, for the year 2021, 49% of Singapore’s buildings have been greened, and it is estimated to increase by 80% in 2030. Therefore, an increase in the construction of green buildings is driving the growth of the building thermal insulation market.
Market Trends –
Technological advancement is a key trend gaining popularity in the building thermal insulation market. Major companies operating in the building thermal insulation sector are focused on introducing new technologies to gain a competitive advantage. For instance, in March 2022, ACC Ltd., an India-based building material manufacturer introduced a new product called the ACC Atrium, a thermal insulating climate control concrete system manufactured by using based insulating technology a unique technology that can insulate the roof while it is being built. The product, with its thermal insulation, is suitable to be used for residential and commercial construction purposes and is sustainable and fire-resistant.
The building thermal insulation market covered in this report is segmented –
1) By Material: Foamed Plastic, Mineral Wool, Aerogels, Cellulose, Other Materials
2) By Product: Glass Wool, Mineral Wool, Expanded polystyrene (EPS), Extruded polystyrene (XPS), Other Products
3) By Application: Roof Insulation, Wall Insulation, Floor Insulation
4) By End Use: Residential, Commercial, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the building thermal insulation market in 2023. The regions covered in the building thermal insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the building thermal insulation market include Johns Manville, Saint-Gobain S.A., Baden Aniline and Soda Factory, Kingspan Group PLC, Owens Corning, Rockwool International A/S, GAF Materials Corporation, Guardian Building Products Inc., CertainTeed Corporation, Knauf Insulation, Armacell International S.A., Dow Inc., Huntsman Corporation, Cabot Corporation, Recticel NV, Paroc Group, URSA Insulation S.A., Superglass Insulation Ltd., Kaimann GmbH, Thermaflex International Holding B.V., Lapinus Fibres, KCC Corporation, Beijing New Building Material (Group) Co. Ltd., Fletcher Insulation Pty Ltd., TechnoNICOL Corporation, Unifrax I LLC, Aspen Aerogels Inc., Evonik Industries AG, Alutech Systems Ltd.
Table of Contents
1. Executive Summary
2. Building Thermal Insulation Market Report Structure
3. Building Thermal Insulation Market Trends And Strategies
4. Building Thermal Insulation Market – Macro Economic Scenario
5. Building Thermal Insulation Market Size And Growth
…..
27. Building Thermal Insulation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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