Building Thermal Insulation Market Size By Material (Open Cell Materials/Wool Insulation [Glass Wool, Stone Wool], Closed Cell Materials/Plastic Foams [Expanded Polystyrene, Extruded Polystyrene, Polyurethanes]), By Application (Wall Insulation [Internal

Building Thermal Insulation Market Size By Material (Open Cell Materials/Wool Insulation [Glass Wool, Stone Wool], Closed Cell Materials/Plastic Foams [Expanded Polystyrene, Extruded Polystyrene, Polyurethanes]), By Application (Wall Insulation [Internal Wall, External Wall, Air Cavity Wall], Roof Insulation [Flat Roof, Pitch Roof], Floor Insulation), By End-use (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026

The building thermal insulation market is likely to register lucrative growth over the coming years owing to favorable government initiatives, adoption of energy efficient technologies, rapidly developing infrastructure, expansion of commercial infrastructure, and proliferating construction industry. Thermal insulation is an essential technology for decreasing the energy consumption in buildings by preventing heat loss/gain through the building envelope.

Building thermal insulation market is bifurcated into different segment in terms of material, application, end-user, and regional landscape.

With respect to material, the overall market is classified into closed cell materials (plastic foams) and open cell materials (wool insulation). The open cell materials segment is further categorized into stone wool, glass wool, and others comprising of aerogel and cellulose. Among these, the glass wool segment will experience more than 3.9% CAGR growth through the forecast timeframe in terms of volume. This anticipated growth is mainly ascribed to the material’s various favorable properties including soundproofing, versatility, non-flammability, and lower maintenance costs. These properties are effectively raising the product demand in the thermal insulation market.

Meanwhile, the others segment is likely to exhibit 4.2% CAGR over the forecast time period. The surging demand for aerogel in the thermal insulation market is accredited to its low density & its micro porosity. Due to its low thermal conductivity and high porosity properties, aerogel is widely favored as a one of the best thermal insulation materials across the globe. The most common form of aerogel is silica aerogel.

The closed cell materials segment is further classified into polyurethanes, extruded polystyrene, expanded polystyrene, and others comprising of phenolic foams & polyisocyanurate insulation. Among these, extruded polystyrene segment will witness around 3.8% CAGR over the forecast time period. This anticipated growth is accredited to the increasing government support in the form of incentives & promotional activities. For instance, the Government of India along with the Bureau of Energy Efficiency has taken numerous initiatives toward reducing energy consumption in buildings.

The polyurethanes segment is anticipated to witness a respectable CAGR of more than 3.4% through the projected time period. The growing demand for polyurethanes as thermal insulator is attributed to their properties such as energy management. It is also known as a lightweight polymer having superior insulating properties. Polyurethane insulation further offers higher resistance in comparison to other insulating materials. Hence, owing to the above-mentioned properties it has the highest demand for insulation globally.

Meanwhile, the others segment is likely to exhibit around 4.3% CAGR through the forecast time period. The increasing demand for phenolic forms for thermal insulation is ascribed to its low thermal resistivity and fire-retardant as well as water-resistant properties.

In terms of application, the overall building thermal insulation market is categorized into floor, roof insulation, and wall insulation. The wall insulation segment is further classified into air cavity wall, external wall, and internal wall. Among these, the internal wall segment is likely to exhibit nearly 3.6% CAGR over the forthcoming time period.

The application of insultation to the internal surface of the wall provides more thermal insulation effect with inexpensive and easier installation. It is merely done by attaching insulation material to the internal face of the walls of the building or house, which are exposed to the external environment.

The external wall segment will witness a respectable CAGR of more than 4.3% over the forecast time frame. Applying insulation on the exterior surface of the wall could give resistance to the temperature by slowing down the flow of heat through the wall. It is also likely to provide a weather-proof layer to the building further protecting against the penetrating damp.

Meanwhile, the air cavity wall segment will witness a 3.9% CAGR through the forthcoming time period. Here, air cavity wall insulation slows down the transfer of heat through the wall by simply instilling the insulated material into the cavities or voids from outside the wall.

The roof insulation application segment is further classified into pitch roof and flat roof. Among these, flat roof segment will exhibit nearly 4.1% CAGR over the forecast time period. Roof having pitch less than 10 degree is considered to be a flat roof. There are basically two ways to insulate the roof, one of them is clod flat roofing, where the material for insulation is laid between the ceiling and the roof membrane.

The pitch roof segment is expected to witness more than 4.5% CAGR through the forthcoming time period. These roofs are the most used roofs with mainly two types of insulation. One is hot loft insulation, where the insulation material is placed just under the roof in the lofted space basically for those, who want to use the loft space. The other type is cold loft insulation, where the insulation material is positioned in the loft place just above the ceiling of the top floor of the house.

From a regional frame of reference, LATAM building thermal insulation market held a share of around 3.8% in the overall market. This anticipated market growth in the region is ascribed to the increasing support from local governments in the form of multiple supportive activities and initiatives that focus on boosting the market share. The adoption of energy efficient technologies and the expansion of the commercial infrastructure are driving the demand for building thermal insulations across the region.

Building thermal insulation market in Middle East & Africa is projected to witness gains of more than 4.0% CAGR over the forecast timeframe. Factors such as rapidly growing regional construction industry, developing infrastructure, growing economic & political stability, and increasing distribution of wealth are anticipated to fuel the regional growth over the forthcoming years.

These factors are also likely to have a positive impact on the paints & coatings market in the coming years. Given the fact that Middle Eastern countries are particularly known for their high-rise buildings and architecture.