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Real Estate News Releases
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(EstateNewsWire.com, October 29, 2021 ) The building thermal insulation market was valued at USD 23.89 billion in 2016, and is projected to reach USD 29.62 billion by 2022, at a CAGR of 3.65% from 2017 to 2022. Building thermal insulation is used to reduce the amount of power that is required to heat or cool a home and for minimizing the heat escape in winters and hot air penetration in summers. Building insulation tends to be the most cost-effective measure in climates that have a wide range of annual average temperatures. In this report, 2016 is considered the base year, and 2017-2022 as the forecast period to estimate the market size of building thermal insulation market.
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The strict building codes in Europe and North America as well as the awareness towards reducing greenhouse gas emissions, along with the growing demand for Nearly Zero Energy Buildings (NZEB) globally, drive the demand for building thermal insulation. In addition, the booming construction industry in countries such as the US, China, and India drives the demand for building thermal insulation in residential and non-residential buildings.
Plastic Foam is the largest material type segment of building thermal insulation.
The plastic foam segment is estimated to account for the largest share of the global building thermal insulation market, in terms of value. The growth of this segment is driven owing to its attributes such as higher thermal resistance (R-Value), versatility, strength, and life span. In addition, its usage in various temperature range from -200° C to 150° C drives its demand in various building thermal insulation such as roof insulation, wall insulation, and floor insulation.
Residential buildings segment is expected to have the largest share of the building thermal insulation market in 2018.
The residential building segment is estimated to account for the largest share of the building thermal insulation market, in terms of both value and volume, during forecast period. The presence of strict building codes, accompanied by the growing demand for housing sector especially in the US, the UK, and Germany drive the demand for building thermal insulation in residential buildings. The retrofit and renovation activities in Western Europe are also expected to drive the building thermal insulation market in the residential sector.
North America was the biggest market for building thermal insulation in 2018.
The North American region is estimated to lead the building thermal insulation market, in terms of value, during forecast period. Increased concerns over improving efficiency in buildings drive the demand for building thermal insulation. In addition, the growing demand for green buildings also drive the demand for building thermal insulation in the region. The growth in residential and non-residential buildings in the US due to the demand for single-family homes and robust manufacturing is another factor that drives the demand for building thermal insulation.
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Key market players profiled in the report are Johns Manville Corporation (US), Saint-Gobain S.A. (France), BASF SE (Germany), Kingspan Group plc (Ireland), Knauf Insulation, Inc. (US), Owens Corning (US), Huntsman Corporation (US), Rockwool International A/S (Denmark), Firestone Building Products Company (US), Cabot Corporation (US), Dow Corning Corporation (US), Covestro AG (Germany), URSA Insulation, S.A. (Spain), Paroc Group Oy (Finland), Atlas Roofing Corporation (US), GAF Materials Corporation (US), Lapolla Industries, Inc. (US), Beijing New Building Material (Group) Co., Ltd. (China), NICHIAS Corporation (Japan), Fletcher Building Limited (New Zealand), ODE Industry and Trade Inc. (Turkey), Aspen Aerogels, Inc. (US), Trocellen GmbH (Germany), Recticel SA (Belgium), and KCC Corporation (South Korea).
Saint-Gobain is focused on expansions and acquisitions to meet the growing demand in the market. In 2016, the company acquired Buitex Industries (France), a company specializing in the manufacture of wood fiber insulation products. The acquisition helped Saint-Gobain expand its range of multi-material insulation solutions in France and continental European markets. In the same year, the company also expanded in North Yorkshire (UK), enabling the company to meet the growing demand in the UK market.
BASF focuses on new product launches, partnerships, and expansions to strengthen its market position. In 2017, the company launched Elastospray LWP, which is an eco-friendly spray foam insulation used in buildings. Earlier, in 2016, the company entered into a partnership agreement with Aspen Aerogels, Inc. (US) to create new products and market opportunities targeted at the global building materials market. In addition, the company in 2015, opened a new plant at Lemförde, Germany to manufacture SLENTITE insulation.
Owens Corning is focused on new product launches and expansions to meet the growing demand for building thermal insulation. In 2017, the company launched the Pure Safety high performance building thermal insulation, which is the world’s first certified asthma and allergy friendly insulation. In 2016, the company announced its intention of opening a new facility in Joplin, US to manufacture Thermafiber mineral wool insulation for commercial, residential, and industrial applications.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
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