Building Thermal Insulation Market Size Projected to Reach $35.3 billion by 2027 Globally, at a CAGR of 4.7%, says MarketsandMarkets™

Chicago, Jan. 16, 2023 (GLOBE NEWSWIRE) — The global “Building Thermal Insulation Market is projected grow to USD 35.3 Billion by 2027, at a CAGR of 4.7% from USD 28.0 Billion in 2022, as per the recent study by MarketsandMarkets™. Building insulation tends to be the most cost-effective measure in climates that have a wide range of annual average temperatures. The insulation’s resistance to heat flow is measured or rated in terms of its thermal resistance or R-value. The higher the R-value, the higher will be heat resistance and lesser the heat will flow. In buildings that have thin walls or timber constructions, the impact of additional insulation is significant.

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313 – Market Data Tables
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List of Key Players in Building Thermal Insulation Market:

  1. Kingspan Group Plc (UK)
  2. Knauf Gips KG (Germany)
  3. Owens Corning (US)
  4. Rockwool International A/S (Denmark)
  5. Saint-Gobain SA (France)
  6. BASF SE (Germany)
  7. Johns Manville Corporation (US)
  8. Altana AG (Germany)
  9. Dow Inc. (US)
  10. GAF Materials Corporation (US)
  11. CNBM Group Co., Ltd. (China)
  12. Aspen Aerogels, Inc. (US)

Drivers, Restraints, Opportunities and Challenges in Building Thermal Insulation Market:

  1. Driver:  Development of green buildings
  2. Restraint: Availability of green insulation material
  3. Opportunity: High energy requirements
  4. Challenge: Lack of awareness on building thermal insulation

Key Findings of the Study:

  1. Glass wool was the second-largest material of building thermal insulation market, in terms of value, in 2021
  2. Roof insulation was the second-largest application of building thermal insulation market, in terms of value, in 2021
  3. Non-residential was the second-largest building thermal insulation building type in 2021 in terms of value
  4. Europe to account for the largest share of the global building thermal insulation market, in terms of value, in 2021

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Plastic foam material is projected to witness the highest CAGR, in terms of both value and volume, during the forecast period. This is owing to its usage in various temperature ranges, which vary from -200°C to 150°C. In addition, the long-life cycle of plastic foam insulation leads to its usage in applications such as walls, floors, and roofs. Its high thermal resistance, versatility, strength, and life span drives its demand.

The roof insulation application is projected to witness the highest CAGR during the forecast period. This can be attributed to their rising demand for energy-efficient buildings and higher price of roof insulation when compared to wall and floor insulation, leads to the demand for insulation in roof insulation application. Blown (fiberglass and stone wool), foam board (XPS and EPS), and PUR & PIR insulations are used for insulating roof. Blown insulation is easier to install, and it can cover areas such as chimney or stove vents.

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The non-residential building type is projected to witness the highest CAGR during the forecast period. Builders and contractors have realized the importance of insulation systems as they make the building energy efficient and help reduce energy loss. In addition, the growing trend of developing green buildings to combat global warming and increasing energy cost provides immense opportunities for the growth of the building thermal insulation market.

Dispersing agents market is projected to witness the highest CAGR in Asia Pacific in the next five years. The growing construction sector (residential and non-residential) and advances in process manufacturing are some of the key drivers for the Asia-Pacific market. Countries such as India, Indonesia, and China are expected to witness high growth in the building insulation market, supported by a rise in demand from the building construction sector.

Browse Adjacent Markets Foam and Insulation Market Research Report & Consulting

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  3. Foam Insulation Market
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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: [email protected]

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