Building Thermal Insulation Market to Worth $42.53 Billion by 2029 | Increasing Building & Construction Sector and Rising Energy Expenditure to Bolster Growth
Companies covered in building thermal insulation market are BASF (Germany), 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) and more players profiled.
Pune, India, May 19, 2022 (GLOBE NEWSWIRE) -- The global building thermal insulation market size was USD 29.85 billion in 2021. The market is projected to grow from USD 31.15 billion in 2022 to USD 42.53 billion in 2029 at a CAGR of 4.5% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Building Thermal InsulationMarket, 2022-2029.” Factors such as the ability to reduce energy consumption in buildings and provide supplementary support to the building structure will boost the growth of the market during the forecast period. Also, the rising adoption of Do-it-Yourself (DIY) insulation projects will increase the footprint of the market.
List of Key Players Present in the Building Thermal Insulation Market:
BASF (Germany)
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.)
Report Scope & Segmentation
Report Attribute
Details
Market size value in 2021
USD 29.85 Billion
Revenue forecast in 2029
USD 42.53 Billion
Growth Rate
CAGR of almost 4.5% 2022-2029
Base Year
2021
Historic Years
2018 - 2020
Forecast Years
2022 - 2029
Segments Covered
By Material, By Application, By End-Use
Forecast Units
Value (USD Billion), and Volume (Units)
Quantitative Units
Revenue in USD million/billion and CAGR from 2022 to 2029
Regions Covered
North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World
Countries Covered
Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered
BASF (Germany), 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.)
Report Coverage
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope
Avail customized purchase options to meet your exact research needs.
COVID-19 Impact
Rising Requirement of Healthcare Infrastructure to Drive Market Share During Pandemic
As the threat of the pandemic became apparent in its inception stage, emerging economies, including China, India, Germany, Italy, and Brazil imposed severe lockdowns to curb the spread of the virus during Q4 of 2019. However, government agencies focused on building healthcare infrastructure to withstand the ongoing surge in patients, which allowed the building thermal insulation sector to flourish. Dominant players are focused on integrating insulation products for reducing energy demands and supporting a quantifiable environment that can sustain an optimal workflow.
The report for building thermal insulation consists of qualitative and quantitative analysis by encompassing critical factors such as leading companies, products, and raw materials. Additionally, the report contains ongoing industry developments and future market trends to make a comprehensive view of the market. Also, the report provides factors that are expected to influence the market in an impactful manner during the forecast.
Drivers & Restraints
Increasing Building & Construction Sector and Rising Energy Expenditure to Bolster Growth
Factors such as an expanding building & construction sector and rising attributes including reducing heat transfer rate and fire & impact resistance will boost the building thermal insulation market growth during the forecast period. Additionally, growing industrialization and increasing demand for energy expenditure will increase the footprint of the market. Also, the increasing deployment of low-energy insulation products and the rising adoption of DIY kits will fuel the growth of the market.
However, rising health concerns regarding the adoption of thermal insulation products will limit the growth of the market during the forecast period.
Regional Insights
Asia Pacific to Witness a Dominant Market Share due to Strict Regulations Regarding Energy Usage
Asia Pacific will hold the largest building thermal insulation market share during the forecast period due to large-scale infrastructure developments planned by government bodies of China & India along with increasing impositions on energy usage to name a few.
North America will occupy a considerable market share during the forecast period owing to significant investment by various government organizations for energy-saving measures and a rising level of high-level of public awareness.
Europe will witness moderate growth during the forecast period due to the rising usage of building thermal materials regarding retrofitting work.
Competitive Landscape
Mergers & Acquisitions and Product Development to Augment Market Share Toward an Inflated Market Share
The market for the building thermal insulation sector is highly fragmented with the top 10 businesses accounting for over 70% of the total market share. Some players have put a considerable amount of investment toward R&D activities to gain a competitive edge. The market leaders further boast of a diversified product portfolio along with offering better-operating efficiency in order to capture a larger consumer base. Small business practices are engaging in mergers & acquisitions in order to consolidate the remaining market share.
Key Industry Development
March 2021: Owens Corning announced that it completed the acquisition of vliepa GmbH to increase its portfolio for its consumer base in Europe catering to the regional construction industry.
Browse Detailed Summary of Research Report with TOC:
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Cryogenic Insulation Market Size, Share and Global Trend By Form (Foam, Multilayer, Bulk Fill), By Type (Fiberglass, Cellular Glass, Perlite Insulation, Polyurethane, Polyisocyanurate, Others), By End-Use Industry (Oil and Gas, Chemical and Fertilizer, Food and Beverage, Transportation, Electronics, Others) and Geography Forecast till 2022-2029
Industrial Insulation Market Size, Share & Industry Analysis, By Type (Fiberglass, Rockwool, Calcium silicate, Plastic foams, Others), By Form (Pipe Insulation, Board & Blanket, Others), By End-Use Industry (Power Genaration, Refinery, Chemicals & Petrochemicals, Fire Protection, Others) Others and Regional Forecast, 2022-2029
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