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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032
The global building thermal insulation market is anticipated to grow exceptionally through 2032 owing to the surging demand for energy requirements.
Increased disposable income in emerging countries, along with concerns over growing electricity bills, is likely to contribute to an increase in demand for energy-efficient thermal insulation solutions. Thermal insulation product makers are eyeing long-term opportunities and efforts such as mergers, acquisitions, and product launches, given the government-supported zero-energy home expansion and affordable housing initiatives.
For instance, in September 2022, CertainTeed expanded its portfolio of high insulation products with the release of InsulPureTM Fiberglass Building Insulation, a lighter and easy-to-cut and handle product.
The building thermal insulation industry has been divided in terms of material, application, end-user, format of insulation, and region.
Based on application, the floor segment is expected to propel at more than 6% CAGR over 2023-2032. Floor insulation is accomplished using four key materials, namely polyurethane spray, insulation boards or EPS sheets, glass wool or fiberglass, and insulating screed, which helps in minimizing the amount of heat dissipation from the floor.
With respect to end-user, the industrial segment is slated to grow positively over the review years credited to the strict limits on reducing carbon footprint and growing electricity prices. These factors have motivated industry owners to employ more building thermal insulation when constructing or expanding new production units.
In terms of format of insulation, the foam segment is set to witness sturdy expansion through the research period. Foam insulators are quite helpful, especially in regions of Europe and North America with cold climates since they guarantee air seal and reduce heat loss.
In contrast, the others segment is expected to accelerate at a high pace through the analysis timeframe. Other insulators including reflective sheet insulation, block insulation, slab insulation, and more, collectively accounted for more than 15% of the global thermal insulation market.
From the regional perspective, the Latin America building thermal insulation market size is estimated to grow at more than 6% CAGR from 2023 to 2032. The growing support from governments for the use of more environmentally friendly building materials, along with an expansion of the commercial infrastructure as well as the implementation of energy-efficient technologies, are driving the demand for building thermal insulations throughout the region.
Meanwhile, the Middle East & Africa building thermal insulation market is projected to amass positive growth through the forthcoming years. The main factors accelerating the MEA market for thermal insulators are urbanization, population growth, and changing construction norms and laws that would ensure the installation of ecologically friendly thermal insulations.
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