Building Thermal Insulation Market Future Growth, Opportunities, Trend Analysis and Forecast

Market Overview

The global building thermal insulation market is projected to grow from USD 28.89 billion in 2020 to USD 33.98 billion in 2024, reaching USD 48.60 billion by 2032, with a CAGR of 4.5% during the forecast period. Building thermal insulation reduces energy usage by preventing heat transfer through building envelopes, witnessing significant demand due to rapid industrialization and urbanization. Increasing concerns about power conservation in residential and commercial applications are expected to drive market growth. This information is presented in the report by Fortune Business Insights™, titled “Building Thermal Insulation Market, 2024-2032.”

Government regulations aimed at reducing greenhouse gas emissions and energy consumption are anticipated to significantly stimulate market growth.

Key Market Players

• 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.)

Market Segmentation

By Material

• Aerogels
• Cellulose
• Foamed Plastics
• Mineral Wool
• Others

By End-User

• Non-residential
• Residential

By Application

• Walls
• Roof & Ceiling
• Floor & Basement

By Region

• North America
• Asia Pacific
• Europe
• South America
• Middle East & Africa

Report Coverage

The report includes:

• Regional and global market analysis.
• Detailed information on various product types and segments.
• Strategies for companies to navigate the COVID-19 pandemic.
• PESTLE Analysis and Porter’s Five Forces Analysis for accurate market predictions.
• Focus on the competitive landscape, industry developments, new product launches, and key market trends.

Drivers & Restraints

High Energy Costs to Drive Market Growth

Building thermal insulation systems reduce carbon emissions and energy input by limiting heat conduction to the external environment. They also provide impact and fire resistance, increasing their demand in the construction industry. Rapid urbanization and industrialization are expected to bolster market growth due to increasing construction activities.

Additionally, thermal insulation systems help reduce energy costs, driving demand across commercial and residential applications. The development of Do-It-Yourself (DIY) insulation products by companies such as Ecofoam Insulation & Coatings, Owens Corning, and Knauf Insulation is expected to boost market growth.

However, health-related concerns associated with insulation products may restrain market growth.