Thermal Insulation in Building Market Analysis - Forecasts to 2025 By Material (Glass Wool, Stone Wool, Polystyrene), By Building Type (Residential, Non-residential), By Application (Flat Roof, Pitched Roof, External Wall, Internal Wall, Cavity Wall, Floor), By Region (North America, Asia Pacific, Europe, Central & South America, Middle East & Africa), End-use Landscape, Vendor Landscape, and Competitor Analysis - Global Market Estimates
Thermal Insulation in Building - Market Insights:
Growing importance of energy conservation coupled with efforts to cut down energy costs has lead to the growth in the thermal insulation in building market. This industry’s growth has been supported by the government’s stringent regulations in the developed economies.
This industry is highly driven by the strict regulations to bring down greenhouse gas emissions in Europe such as European Energy saving regulations (EnEV) and adoption of International Energy Conservation Code (IECC) in North America. Development of green buildings and strict building codes are increasing the demand for thermal insulation.
Product penetration is expected to be high due to limited energy consumption while in use for maintaining room temperature. Technological advancements such as ease of installation, high durability, compressive strength, moisture sensitivity, along with better conductivity is expected to help the industry expand over the forecast period.
Thermal Insulation in Building - Material Insights:
In 2016, wool insulation accounted for over 50% of the market share. Various materials such as fibreglass, foamed plastic, and mineral wool can be used for insulation. Foamed plastic insulation materials include expanded polystyrene, polyurethane, and extruded polystyrene among others. The plastic foam segment has the largest share in the market due to its higher thermal resistance, lifespan, strength, and versatility.
Expanded polystyrene (EPS) is anticipated to grow at the fastest CAGR in the forecast period. The product is popular in Europe and is now expanding to North America, owing to its high thermal insulation property (R-value). EPS is extracted from non-renewable raw materials and this is escalating its growth.
Thermal Insulation in Building - Application Insights:
Wall insulation has been growing at a fast rate and is expected to grow in the forecast period as well. Large surface area of the wall enables easy insulation. Interior & exterior thermal padding are available for thermal insulation. Government regulations in developed economies for roof insulation along with shifting trends for flat roofs in the commercial buildings is expected to create demand for this market.
Floor insulation accounted for approximately 20% of overall demand in 2016; rapid urbanization coupled with spending on construction due to rising disposable income is estimated to grow in the coming years. Increasing demand from the residential & commercial building industry is expected to drive the market over the forecast period.
Thermal Insulation in Building: End-Use Insights
Residential construction accounted for over 55% of the market share in 2016. Nuclear families, rising population and high consumer spending in the developed economies have to lead to the rise in demand in the household sector. Further awareness about cost cut and reduction in carbon footprint has increased its demand in the residential sector.
Commercial sector includes hospitals, convenience stores, shopping malls and grocery stores. Temperature maintenance in shopping malls is done with the help of insulators. Increasing manufacturing industry and other activities are expected to augment the demand for thermal insulation. Healthcare facilities are expected to grow in China due to its aging population; these buildings are investing in thermal insulation hence a growth is expected in the forecast period.
Thermal Insulation in Building - Regional Insights:
Asia Pacific is expected to be the fastest growing region in the forecast period. Government policies of this region are focusing on infrastructural development which is expected to increase the demand. Energy conservation policies and greenhouse gas reduction have led to the increase in the demand for the industry.
European Commission and REACH have strict policies. Increasing energy cost and high awareness among consumers regarding benefits of thermal padding is expected to see growth in the market in the forecast period.. It is likely to maintain its position by the end of the forecast period.
Building construction activities in North America is estimated to boost the thermal barrier material demand. This is due to the strict building codes implemented by the International Conservation Code (IECC) which encourages the utilization of the thermal insulation in the buildings.
Thermal Insulation in Building: End-User Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase building thermal insulators over the coming years.
Some leading consumers of building thermal insulator markets are Gensler, AECOM, Perkins & Will, Jacobs, Hines, BNP Paribas, and OVG Real Estate among others.
Thermal Insulation in Building - Competitive Insights
Mergers and joint ventures are the methods used by the key players in the market. The new energy efficiency and construction regulations have increased competition in the market. Major players include Dow Building Solutions, Owens Corning Corp., Johns Manville Corporation, Huntsman International LLC, CertainTeed Corporation, Kingspan Group PLC, BASF Polyurethanes, Saint-Gobain S.A., are few among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global thermal insulation in building market research report has been studied from the year 2016 till 2025. However, the CAGR provided in the market study is from the year 2017 to 2025. The market research method involved three stages: Desk research, Primary survey research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the thermal insulation in building market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, demand forecasting, market share analysis, SWOT analysis of the companies, and customer analytics.
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