Global Building Thermal Insulation Market Share, Size, Trends, Industry Analysis Report 2023-2030: – Projected CAGR of 4.6% During the Forecast Period

By PR Newswire On Jul 4, 2023

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DUBLIN, July 4, 2023 /PRNewswire/ — The “Building Thermal Insulation Market Share, Size, Trends, Industry Analysis Report, By Product, By Application, By Region, Segment Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.

The size of the global building thermal insulation market was estimated at USD 49.01 billion in 2022 and is projected to increase at a 4.6% CAGR from 2023 to 2032.

Increased household and commercial deployment of the product to reduce overall energy costs and improved awareness of energy conservation are two major factors projected to fuel the expansion.

Due to the emphasis on lowering overall energy usage, it is predicted that favorable legislation would fuel the market for building thermal insulation. The use of heating, ventilation, and air conditioning (HVAC) systems in a building can be reduced with the help of thermal building insulation. This lowers overall energy use, which is expected to benefit the growth.

As a result of favorable building codes in the United States and Canada, as well as the establishment of energy certification organizations like the Leadership in Energy and Environmental Design (LEED) and the U.S. Green Building Council, it is anticipated that demand for building thermal insulation will rise (USGBC). The United States Environmental Protection Agency (EPA) has placed tight restrictions on the usage of foamed plastics that could hamper market growth due to their low biodegradability and carcinogenicity.

The market for thermal insulation has shrunk as a result of the global COVID-19 meltdown. Lockdown conditions have halted new construction projects and banned the consumption of insulating materials in the majority of the world’s countries. Also, the historic buildings that must be insulated in accordance with the new standards and guidelines issued by the regional administration are on hold due to a lack of both the requisite supplies and the people to finish the installation.

Building Thermal Insulation Market Report Highlights

Due to the increased demand to stop heat from building roofs from being absorbed by direct sunlight, roof application had a high market share in 2022 and is predicted to experience a significant CAGR over the projected period.
Wall application is anticipated to rise at a high CAGR in terms of revenue over the forecast period and take the lead in the building thermal insulation market in 2022 as a result of the product’s expanding use on both interior and exterior walls.
Europe had the largest market share in 2022 and is anticipated to continue to be a sizable market for thermal insulation for buildings by 2032. Initiatives conducted by the European Commission and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) to encourage thermal insulation as a means of energy conservation are projected to benefit regional development.
A few of the leading companies operating in the international market are CertainTeed Corporation, Roxul, Inc., Dow Building Solutions, Owens Corning Corporation, Saint-Gobain S.A., Byucksan Corporation, Kingspan Group PLC, Rockwool International A/S, GAF Materials Corporation, Guardian Building Products, Inc., Huntsman International LLC, Johns Manville Corporation, Cellofoam North America, Inc., Atlas Roofing Corporation, CertainTeed Corporation, Roxul, Inc.

Building Thermal Insulation Market Dynamics

Drivers and Opportunities

Rising adoption of wall and roof insulations
Increase efforts in conserving energy and reducing greenhouse gas emission

Restraints and Challenges

Rising threat of new entrants

Scope of the Report

Building Thermal Insulation, Product Outlook (Revenue – USD Billion, 2019 – 2032)

Glass Wool
Mineral Wool
EPS
XPS
Cellulose
Others

Building Thermal Insulation, Application (Revenue – USD Billion, 2019 – 2032)

Roof
Walls
Floor

Building Thermal Insulation, Regional Outlook (Revenue – USD Billion, 2019 – 2032)

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa

Companies Mentioned

NICE Actimize
Tata Consultancy Services Limited
Trulioo
BAE Systems
Nice Systems
Fiserv
Cognizant Technology Solutions Corporation
ACI Worldwide
SAS Institute
Fiserv
Oracle Corporation
BAE Systems
LexisNexis Risk Solutions
CaseWare RCM
Accenture

For more information about this report visit https://www.researchandmarkets.com/r/25p84o

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