The global Building Thermal Insulation Market is expected to witness an exponential CAGR in the years to come. This could be credited to growth in construction industry and the ever-increasing urbanization. Plus, trends are shifting toward upgradation of padding system (in existence) to suffice construction standards. Users are emphasizing on lessening energy consumption bills. That’s why retrofitting insulating material in attics and walls has garnered attention. Besides, stern codes are being implemented by governments for lessening industrial energy consumption; which would bolster the market further.
The focus is also shifting to core competencies in a broad range of the materials inclusive of XPS and EPS. This shift is urging manufacturers to improve materialization of optimum distribution channels for eating into the market share. On these lines, in May 2015, Knauf Insulation inked an agreement with CanWel Building Materials (Canada) for enhancing the former’s distribution channel.
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Call for ecological balance is also driving the market. Industry expansion is being propelled by increasing energy-efficient green building construction for minimizing carbon footprint and enhancement in thermal comfort. Adoption of “zero energy buildings” is on the rise.
The building thermal insulation industry is segmented by material, application, end-use, and geography. By material, the segmentation goes like open cell materials/wool insulation (glass wool, stone wool, others (aerogel & cellulose)) and closed cell materials/plastic foams (expanded polystyrene, extruded polystyrene, polyurethanes, and others). By application, the building thermal insulation market spans wall (air cavity, external, and internal), roof (pitch and flat), and floor. By end-use, the building thermal insulation industry comprises industrial, commercial, and residential.
By geography, the building thermal insulation market constitutes North America, Asia Pacific, Europe, MEA, and LATAM. Asia Pacific is expected to grow at the fastest pace in the upcoming period. This could be attributed to rise in high industrialization rates and construction spending in the emerging economies like Indonesia, Malaysia, China, Thailand, and India.
The players contributing to the building thermal insulation market include Armacell, Saint-Gobain, Owens Corning, Dow Building Solutions, Johns Manville, BASF Polyurethanes, and Huntsman International. Inorganic growth is on the anvil. For instance – Armacell entered into “partnership of excellence” with KOPP in Mar 2018 to establish long-term technology license render high-quality materials to customers.
Market Segment:
Building Thermal Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Glass Wool
- Mineral Wool
- EPS
- XPS
- Others
Building Thermal Insulation Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Roof
- Walls
- Floor
Building Thermal Insulation End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Residential
- Commercial
Continued…
As per a recently published report by Fortune Business Insights™ titled, “Building Thermal Insulation Market Size, Share & Industry 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 Area (Floor & Basement, Wall, and Roof & Ceiling), and Regional Forecast, 2019-2026,” the market value was USD 28.45 Billion in 2018 and will exhibit a CAGR of 4.4% between 2019 to 2026.
Need for Controlling Heat Transfer in Buildings will Add Impetus to MarketThe rise in building and construction activities worldwide is a major driver promoting the building thermal insulation market growth.
This is done by decreasing the heat transfer between adjacent environments and reduce the carbon footprint by constricting the heat conduction to the external surroundings.
Moreover, rapid modernization and industrialization have propelled the installation of thermal insulation systems in commercial buildings to conserve energy, and this will aid in the expansion of the market in the coming years.Regional Segmentation:Asia Pacific Emerged Dominant Owing to Stringent Regulations Imposed on Infrastructural DevelopmentAs per the current geographic segmentation, the market is dominated by Asia Pacific that earned USD 13.04 billion in 2018.
Additionally, governments in China and India have imposed strict rules on the consumption of energy in the coming five years, and this will further aid in the expansion of the market in the coming years.
On the other side, the North American market will rise substantially, owing to the increasing awareness among people about energy-saving technologies.Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/building-thermal-insulation-market-102708List of Players Functioning in Building Thermal Insulation Market are as following;Armacell S.A.Owens CorningKnauf InsulationDuPontCellofoam North America Inc.BYUCKSANBondor IndonesiaIMERYS GroupEvonikAtlas Roofing CompanyBeijing New Building Material (Group) Co., Ltd.Other vendorsConsolidated Nature will Further Intensify Market CompetitionThe market is consolidated in nature owing to the presence of many players.
The global building thermal insulation market size is expected to reach USD 38.95 billion by 2025, at a CAGR of 4.8%, according to a new report by Radiant Insights, Inc.
Implementation of stringent regulations by various governments to reduce greenhouse gas emission is expected to have positive impact on the growth.Increasing demand in residential and commercial applications, owing to rising energy costs and importance of energy conservation is expected to drive the market over the forecast period.
In addition, government initiatives to promote energy efficient operations is estimated to benefit the product demand.
Download Free Sample Report @ https://www.radiantinsights.com/research/building-thermal-insulation-market/request-sample The market exhibits high level of integration by the raw material suppliers across the value chain.
The manufacturers may face pricing pressure due to fluctuation in raw material prices on account of unstable crude oil prices.Increasing R expenditure to develop transparent insulation technology to impart superior aesthetic appearance to thermal insulation materials is expected to boost the product adoption.
The industry is capital intensive, hence entry and sustenance requires considerable time, resources, and planning.
