According to Market Research Future Reports, the global building thermal insulation market is set to proliferate at a higher CAGR from 2020 to 2025.
Thermal insulation is referred to as a method which helps in reducing heat transfer between adjacent environments and maintains an ambient temperature indoors. Building thermal insulation in buildings contributes to reduce the carbon footprint as well as maintain the temperature and confines the heat to the external environment. Eventually, thermally insulated homes and buildings are less affected by external environmental temperature. By having such immense properties, the global building thermal insulation market is on the verge of expansion at a higher CAGR during the forecast period.
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Drivers & Trends
The Global Building Thermal Insulation Market is driven by factors such as the increasing costs of energy and raising awareness concerning energy conservation. These are some of the key factors that are escalating the building thermal insulation market size phenomenally. Various government bodies, across the globe, are trying to initiate regulations and policies in support of the demand for insulation in commercial buildings, which eventually are expected to drive growth in the building thermal insulation market.
More factors regarding the proliferation of the building thermal insulation market are high energy saving, reduced carbon footprints, and easy product availability is the key one that is continually fueling building thermal insulation market. By the help of heat insulation in buildings, heat loss occurs in building through the walls, roofs, and floors with accounting for more than 70 percent. More benefits such as room temperature maintenance at minimum possible energy consumption, thus increasing product penetration will stimulate the global building thermal insulation market in positive ways.
On the other hand, increasing concerns related to the environment are also expected to prove to be a key opportunity for the growth of building thermal insulation market during the forecast period. Apart from this, some variations in color, texture, surface finish, etc., in thermal insulation materials also vary in performance. Even though the specification of material is mostly dependent upon the nature of the application, it is essential for manufacturers and contractors to study the external factors which are likely to influence the final installation decision. This importance is making the market to expand at an exponential rate, especially in the developed regions.
- Knauf Insulation
- Rockwool International A/S
- Johns Manville Inc.
- Atlas Roofing Corporation
- BASF SE
- Owens Corning Corporation
- Certain Teed Corporation
- Dow Building solutions
- Paroc Group
- Huntsman International LLC
- Saint-Gobain Group
- Johns Manville Inc.
- Knauf Insulation GmbH
- GAF Material Corporation
- Beijing New Building Material Co. Ltd.
- Kingspan Group Plc
In the reports of Market Research Future Reports, the Global Building Thermal Insulation Market has been segmented based on material, application, end-use, and region.
By the mode of material, the market is segmented as fiberglass, mineral wool, PU Foam, and others.
By the mode of application, the market is segmented as residential, commercial, and others.
By the mode of end-use, the market is segmented as roofs, walls, and floors.
On the geographical note, the global building thermal insulation has covered the main regions of North America, Europe, APAC, and Rest of the World.
Among all, North America is expected to proliferate rapidly by 2025 for building thermal insulation market where the share is attributed to the increased government support in the form of rebate and other tax benefits to the construction companies.
However, the Asia Pacific region is a growing market for global building thermal insulation with its fast-growing market over the forecast period. This region is expected to display rapid economic and infrastructural growth owing to many investments in countries such as China and India. Hence the construction sector is growing. The influx of foreign investment in India is also augmenting the market for building thermal insulation market and will do in the years to come.