Global Building Thermal Insulation Market, By Material (Plastic Foam, Glass Wool, Stone Wool, Others), Building Type (Residential Building, Non-Residential Building), Application (Roof Insulation, Wall Insulation, Floor Insulation) – Industry Trends and Forecast to 2029
Market Analysis and Size
Building thermal insulation is expected to grow steadily and consistently during the forecast period. It is critical to understand the market condition and how it is affected by temperature extremes across geographical zones. There is a need for insulation in buildings to maintain temperature and ensure optimum conditions are maintained. It is not only beneficial to users, but it is also beneficial to the environment because it allows for the conservation of valuable energy by preventing heat or cooling loss.
Data Bridge Market Research analyses that the building thermal insulation market was valued at USD 36.75 billion in 2021 and is expected to reach the value of USD 53.93 billion by 2029, at a CAGR of 4.91% during the forecast period of 2022 to 2029.
Market Definition
Thermal insulation is a technique for transferring heat between environments while maintaining an indoor temperature. Thermal insulation in buildings reduces the carbon footprint by requiring less energy to maintain a temperature and limiting heat transfer to the outside environment.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Material (Plastic Foam, Glass Wool, Stone Wool, Others), Building Type (Residential Building, Non-Residential Building), Application (Roof Insulation, Wall Insulation, Floor Insulation)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Honeywell International Inc. (U.S.), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), ASSA ABLOY (Sweden) ADT (US), ABB (Switzerland), Robert Bosch GmbH (Germany), Ooma Inc., (U.S.), Delta Controls (Canada) SimpliSafe Inc., (U.S.), Armorax (U.S.), LG Electronics (South Korea and Legrand (France)
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Opportunities
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Building Thermal Insulation Market Dynamics
Drivers
- Rising adoption of wall and roof insulations
External wall insulation is a thermally insulated, protective, decorative exterior cladding system that achieves the required thermal performance as well as a protected weatherproof finish. Furthermore, roof insulation aids in preventing heat loss through ceilings. It is a simple and effective method of lowering energy consumption. Roof insulation is classified as flat roof insulation or pitched roof insulation. A flat roof is a nearly horizontal building covering.
- Increase efforts in conserving energy and reducing greenhouse gas emission
Environmental organizations around the world are working to reduce greenhouse gas emissions from the residential and industrial sectors. Building thermal insulation material is used during the construction of buildings in cold countries to help reduce energy use to maintain indoor temperatures. This is a major driving force in the global building thermal insulation market. To reduce greenhouse gas emissions caused by traditional energy sources. Their strict rule is to use alternate means to prevent heat loss and cooling of buildings. Green buildings' growing popularity and adoption will reduce energy consumption and its associated costs.
Opportunity
Green buildings' growing popularity and adoption will reduce energy consumption and its associated costs. However, due to the harsh winters near the Poles, facilities must be insulated to prevent heat loss. This is a major factor driving the growth of the building thermal insulation market. Furthermore, the sustained workload in the public sector in areas such as civil engineering and public housing has aided the construction industry in developed countries, keeping prices broadly stable and expanding the overall building thermal insulation market.
Restraints
However, rising threat of new entrants and rising threat of substitutes are among the major factors that will curtail market growth and further challenge the building thermal insulation market during the forecast period.
This building thermal insulation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the building thermal insulation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Building Thermal Insulation Market
COVID-19 has already had an impact on equipment and machinery sales in the first quarter of 2020, and it is expected to have a negative impact on market growth for the remainder of the year. Previously, the major demand for equipment and machinery was observed from giant manufacturing countries that have been severely impacted by the spread of coronavirus, halting demand for equipment and machinery. Furthermore, the potential impact of the lockdown is unknown at this time, and companies' financial recovery is entirely dependent on cash reserves. Companies that manufacture equipment and machinery can only afford a complete lockdown for a few months before having to change their investment plans. To respond to immediate crises, equipment manufacturers must prioritise the protection of their workforce, operations, and supply chains.
Recent Development
- Saint-Gobain S.A. acquired Buitex Industries (France) in May 2021, which specialises in the production of wood fibre insulation products for the French and continental European markets. This acquisition contributed to the company's expansion of multi-material insulation solutions.
- BASF SE introduced Elastospray LWP, environmentally friendly spray foam insulation, in June 2019.
- Owens Corning announced in July 2020 the opening of a new facility in Joplin, Missouri, to manufacture Thermafiber mineral wool insulation for commercial, residential, and industrial applications.
Global Building Thermal Insulation Market Scope
The building thermal insulation market is segmented on the basis of material, building type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material type
- Plastic Foam
- Glass Wool
- Stone Wool
- Others
Building Type
- Residential Building
- Non-Residential Building
Application
- Roof Insulation
- Wall Insulation
- Floor Insulation
Building Thermal Insulation Market Regional Analysis/Insights
The building thermal insulation market is analysed and market size insights and trends are provided by country, material, building type and application as referenced above.
The countries covered in the building thermal insulation market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
Europe leads the building thermal insulation market as a result of the commission's efforts to promote thermal insulation as a means of preserving energy in the region. The Asia Pacific building thermal insulation market is expected to grow fastest due to increased government infrastructure spending and rapid urbanization. This will also result in increased energy consumption as a result of the rising demand for environmentally friendly building insulation products. China, India, and Japan are among the major economies that are investing in sustainable development.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Building Thermal Insulation Market Share Analysis
The building thermal insulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to building thermal insulation market.
Some of the major players operating in the building thermal insulation market are:
- Honeywell International Inc. (U.S.)
- Siemens (Germany)
- Johnson Controls (Ireland)
- Axis Communications AB (Sweden)
- Schneider Electric (France)
- ASSA ABLOY (Sweden)
- ADT (US)
- ABB (Switzerland)
- Robert Bosch GmbH (Germany)
- Ooma Inc., (U.S.)
- Delta Controls (Canada)
- SimpliSafe Inc., (U.S.)
- Armorax (U.S.)
- Legrand (France)
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