February 11, 2020
According to a new research report titled ‘Global 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 (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, South Korea, Malaysia, Indonesia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Qatar, Kuwait, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, global building thermal insulation market is projected to witness substantial growth by 2025.
Global building thermal insulation industry size will be fueled by mounting environmental concerns and subsequently rising consumer consciousness towards electricity saving. These factors have propelled the demand for energy-efficient infrastructure and sustainable technologies which will complement the industry outlook in the near future.
Robust growth of automotive, power, and oil & gas sectors will render a positive impact on building thermal insulation market. Advantages such as greater energy savings, effective noise control, and ease and flexibility of customization will be prominent factors accelerating the product adoption over the projected timeframe.
Based on material, wool materials segment, which includes glass wool and stone wool, dominated building thermal insulation market in 2018, capturing over 50% revenue share. Characteristics such as superior compression strength and greater thermal conductivity are anticipated to drive product sales.
With respect to end-use, residential segment is projected to account for more than 56% revenue share by 2025. This can be attributed to growing product installation across residential establishments on account of increasing purchasing power of consumers and positive outlook towards power saving to minimize the carbon footprint.
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Considering the regional landscape, Asia Pacific is estimated to witness a healthy CAGR of more than 6% through 2025. This can be mainly linked with the robust growth of construction and industrial sector in the region. In addition, surging demand for renovation of shopping malls, grocery shops, and convenience stores will drive the regional demand.
Atlas roofing corporation, Cellofoam North America, Owens Corning Corporation, and Paroc Group are among the key industry participants constituting global building thermal insulation market. Collaborations, mergers & acquisitions, R&D investments, and new product launches are some of the key strategies adopted by these companies.
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