According to the recent research report titled ‘Global Residential Insulation Market: Analysis By Material , Project Type, Area of Building, Housing Type, By Region, By Country (2020 Edition) : Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global residential insulation market was valued USD 26.12 billion in 2019 and is expected to accrue notable returns through 2025.
 

As per the report findings, global residential insulation market growth is largely fueled by inflowing investment in residential building construction owing to rapid urbanization and industrialization, particularly in developing nations like India and China.
 

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Moreover, growing environmental concerns, followed by imposition of stringent emission norms are adding considerable traction to the industry expansion. In fact, the World Green Building Council, in 2019, published a paper urging all new buildings, infrastructure, and renovations to embody 40% less carbon, and become net zero operational carbon by 2030. Whereas the 2050 target called all new buildings, infrastructure and renovations be net zero embodied carbon along with net zero operational carbon.
 

Considering the geographical landscape, key contributors to the overall residential insulation market value are North America (United States, Canada), Europe (United Kingdom, Germany, France, Italy), and Asia Pacific (India, South Korea, China, Japan). Among these, APAC market currently leads the industry growth, attributable to upsurge in residential constructions due to inflating urban population, subsequent spike in demand for luxury housing units, and hefty expenditure on infrastructure development in developing nations.
 

Elaborating on the competitive landscape, major players, in recent years, have undertaken various strategic measures, such as new product launches and mergers & acquisitions to improve their standing in this domain. For instance, Johns Manville, in August 2017, launched JM CladStone Water & Fire Block Insulation which is a non-combustible insulation offering that provides high thermal efficiency & resistance, and acoustic performance. Whereas, Rockwool International A/S, in November 2017, acquired of 97.6% share of Flumroc AG, a technical insulation and construction products provider, to extend its presence in Switzerland.
 

Some of the other major players influencing global residential insulation market dynamics are Covestro AG, Huntsman Corp., CertainTeed, Kingspan Group plc, DuPont de Nemours, Inc., Knauf Insulation, Owens Corning, and BASF SE.