Global Building Thermal Insulation Market

Global Building Thermal Insulation Market Size, Share, Growth Analysis, By Material(Plastic Foam, Glass Wool), By Building(Residential Building, Non-Residential Building), By Application(Roof Insulation, Wall Insulation) - Industry Forecast 2023-2030


Report ID: SQMIG15F2118 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 90 | Figures: 76

Global Building Thermal Insulation Market Insights

Building Thermal Insulation Market size was valued at USD 30.05 billion in 2021 and is poised to grow from USD 31.40 billion in 2022 to USD 44.65 billion by 2030, at a CAGR of 4.5% during the forecast period (2023-2030).

Thermal insulation plays a crucial role in reducing energy consumption in the construction industry by effectively blocking the transfer of heat through building enclosures.

Building insulation products, with their thermal conductivity of less than 0.2 W/mK, provide an excellent solution for preventing heat loss or gain within enclosed spaces. They not only help conserve energy but also offer additional structural support, particularly in roofing applications.

Governments recognize the benefits of efficient building thermal insulation and have introduced regulations mandating minimum insulation levels. For instance, the Residential Tenancies Act in New Zealand, implemented since July 2019, requires all rental houses to have ceiling and underfloor insulation installed according to specific guidelines.

Due to the increasing focus on energy conservation in both residential and commercial sectors, the demand for thermal insulation is expected to rise. This growth will be driven by heightened concerns regarding energy efficiency, as well as the implementation of strict government regulations aimed at reducing energy usage and greenhouse gas emissions.

US Building Thermal Insulation Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 30.05 billion

Largest Segment

Residental Building

Growth Rate

4.5% CAGR

Global Building Thermal Insulation Market ($ Bn)
Country Share for Europe Region (%)
Global Building Thermal Insulation Market By Building type ($ Bn)

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Global Building Thermal Insulation Market Segmental Analysis

The building thermal insulation market is segmented on the basis of material, building, application and region. By material, the market is segmented into plastic foam, glass wool, stone wool, and others. By building type, the market is segmented into residential building and non-residential building. By application, the market is segmented into roof insulation, wall insulation, and floor insulation. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Building Thermal Insulation Market Analysis By Material

The largest and fastest-growing segment is plastic foam insulation. Plastic Foam insulation dominates the market due to its exceptional thermal performance, versatility, and ease of installation. With its lightweight and flexible nature, plastic foam insulation offers excellent insulation properties while being convenient to handle and install across a wide range of construction applications. The rapid urbanization, infrastructure development, and growing investments in residential and commercial construction projects provide a conducive environment for the market's growth.

Building Thermal Insulation Market Analysis By Building

Residential Buildings represent the largest segment in the building thermal insulation market due to the sheer volume of residential construction projects worldwide. The demand for thermal insulation in residential buildings is primarily driven by the need for energy efficiency, comfort, and reduced heating or cooling costs for homeowners. Furthermore, governments and regulatory bodies across various countries have introduced energy efficiency standards and building codes, mandating the use of thermal insulation in residential buildings.

On the other hand, the non-residential buildings segment is the fastest-growing segment in the building thermal insulation market. This can be attributed to the rapid expansion of commercial, industrial, and institutional construction projects worldwide. Thermal insulation helps to reduce energy consumption, optimize HVAC systems, and maintain stable indoor temperatures, leading to cost savings and improved occupant comfort.

Global Building Thermal Insulation Market By Building type, 2023 (%)

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Global Building Thermal Insulation Market Regional Insights

Europe, as the dominant region in the building thermal insulation market, showcases a strong emphasis on energy efficiency and sustainable construction practices. The region's stringent regulations and building codes prioritize energy conservation and greenhouse gas reduction. This has led to extensive adoption of thermal insulation solutions across residential, commercial, and industrial sectors. One relevant example in Europe is Germany, known for its ambitious energy transition goals and emphasis on sustainable building practices. The country has implemented stringent energy performance standards, such as the Passivhaus standard, which requires highly efficient thermal insulation in buildings. This has propelled the demand for advanced insulation materials and systems, fostering the growth of the market in the region.

On the other hand, the Asia Pacific region takes the lead as the fastest-growing region in the building thermal insulation market. The region's rapid urbanization, industrialization, and expanding construction sector contribute to the increasing demand for thermal insulation solutions. As countries in the region focus on infrastructure development and urban expansion, energy efficiency and sustainable building practices have gained prominence. One relevant example in Asia Pacific is China, which has witnessed tremendous growth in the construction industry and a rising demand for energy-efficient buildings. The Chinese government has implemented various policies and regulations to promote energy conservation and reduce greenhouse gas emissions. This has led to a surge in the adoption of thermal insulation solutions, particularly in commercial and residential buildings, as part of the country's sustainable development initiatives.

Global Building Thermal Insulation Market By Geography, 2024-2031
  • Largest
  • Fastest

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Global Building Thermal Insulation Market Dynamics

Building Thermal Insulation Market Drivers

Surge In Construction Spending And Urbanization

  • Asia Pacific commands around 50% of the global construction market. The region's economic progress, rapid urbanization, and expanded infrastructure development are projected to create a demand for sustainable and energy-efficient housing, thereby driving the building thermal insulation industry.
  • The ongoing industrialization processes have resulted in a significant increase in greenhouse gas emissions. Consequently, there is a growing need to address energy consumption and reduce environmental impact. This factor is expected to fuel the demand for thermal insulation solutions in various industrial sectors.

Building Thermal Insulation Market Restraints

Health Risks Associated With Insulation Materials

  • Various thermal insulation substances, such as stone and glass wool, can lead to health problems like respiratory and eye irritation. Additionally, polymer-based insulating materials face stringent regulations due to the emission of cancer-causing substances during the manufacturing process. These health and environmental issues pose ongoing challenges, limiting the market's expansion in the predicted period.
  • Certain insulation materials used in wall applications can pose significant health risks. For example, asbestos, a hazardous substance, has been linked to mesothelioma (a type of lung cancer) and gastrointestinal cancers. Fiberglass, another commonly used insulation material, can cause skin irritation due to the binding chemicals used in its production.

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Global Building Thermal Insulation Market Competitive Landscape

The competitive landscape of the market demonstrates consolidation, with the top 10 companies capturing more than 70% of the global market revenue. These key players have made substantial investments in research and development to innovate and improve thermal insulation products. Their growth strategies encompass a wide product range, enhanced operational efficiency, and the development of safe and advanced technologies for insulation applications. In order to bolster their offerings and associated services, small and medium-sized enterprises (SMEs) have adopted a strategy of mergers and partnerships with larger companies. This trend is anticipated to have a positive impact on global market dynamics throughout the forecast period, as smaller businesses stand to benefit significantly from such collaborations.

Building Thermal Insulation Market Top Player’s Company Profiles

  • BASF (Germany)
  • Cellofoam North America Inc. (U.S.)
  • DuPont (U.S.)
  • Knauf Insulation (U.S.)
  • Armacell S.A. (Luxembourg)
  • Beijing New Building Material (Group) Co., Ltd. (China)
  • Evonik (Germany)
  • PT. Bondor Indonesia (Indonesia)
  • BYUCKSAN (South Korea)
  • Huamei Energy-saving Technology Group Co., Ltd. (China)
  • Kaneka Corporation (Japan)
  • KCC Corporation (South Korea)
  • Kingspan Insulation LLC (Ireland)
  • Lloyd Insulations (India) Limited (India)
  • ROCKWOOL International A/S (Denmark)
  • U.P. Twiga Fiberglass Limited (India)
  • GAF (U.S.)
  • Superglass Insulation Ltd. (Scotland)
  • Recticel Group (Belgium)
  • Ursa (Spain)

Building Thermal Insulation Market Recent Developments

  • In February 2023, GC and Saint-Gobain formed a partnership with the aim of decarbonizing the production of flat glass. During the same year, Saint-Gobain made an agreement to acquire U.P. Twiga Fiberglass Ltd., which holds a dominant position in the Indian market for glass wool insulation.
  • In January 2023, Saint-Gobain successfully completed the acquisition of Termica San Luis, a company based in Argentina, further expanding its presence in the region.

Global Building Thermal Insulation Key Market Trends

  • One key market trend in the building thermal insulation industry is the increasing demand for eco-friendly and sustainable insulation materials. As environmental concerns and energy conservation become more prominent, there is a growing preference for insulation products that have minimal impact on the environment. This trend is driving the development and adoption of insulation materials made from recycled or renewable resources, such as recycled plastic, natural fibers, and bio-based foams. Additionally, there is a focus on reducing the carbon footprint associated with insulation manufacturing processes.

Global Building Thermal Insulation Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Deployment modes team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our analyses, The building thermal insulation market analysis reveals a robust industry poised for significant growth. Factors such as increasing construction activities, urbanization, and stringent energy efficiency regulations are driving the demand for thermal insulation solutions. The market is characterized by the dominance of key players with diverse product portfolios and a focus on innovation and sustainability. Companies are actively investing in research and development to innovate sustainable solutions that provide excellent thermal performance while minimizing environmental impact. This market trend reflects the industry's commitment to addressing sustainability challenges and meeting the evolving needs of environmentally conscious consumers and regulatory requirements.

Report Metric Details
Market size value in 2023 USD 30.05 billion
Market size value in 2031 USD 44.65 billion
Growth Rate 4.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Material
    • Plastic Foam, Glass Wool, Stone Wool, Others
  • Building
    • Residential Building, Non-Residential Building
  • Application
    • Roof Insulation, Wall Insulation, Floor Insulation
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • BASF (Germany)
  • Cellofoam North America Inc. (U.S.)
  • DuPont (U.S.)
  • Knauf Insulation (U.S.)
  • Armacell S.A. (Luxembourg)
  • Beijing New Building Material (Group) Co., Ltd. (China)
  • Evonik (Germany)
  • PT. Bondor Indonesia (Indonesia)
  • BYUCKSAN (South Korea)
  • Huamei Energy-saving Technology Group Co., Ltd. (China)
  • Kaneka Corporation (Japan)
  • KCC Corporation (South Korea)
  • Kingspan Insulation LLC (Ireland)
  • Lloyd Insulations (India) Limited (India)
  • ROCKWOOL International A/S (Denmark)
  • U.P. Twiga Fiberglass Limited (India)
  • GAF (U.S.)
  • Superglass Insulation Ltd. (Scotland)
  • Recticel Group (Belgium)
  • Ursa (Spain)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Building Thermal Insulation Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Building Thermal Insulation Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Building Thermal Insulation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Building Thermal Insulation Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Building Thermal Insulation Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Building Thermal Insulation Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Building Thermal Insulation Market size was valued at USD 30.05 billion in 2021 and is poised to grow from USD 31.40 billion in 2022 to USD 44.65 billion by 2030, at a CAGR of 4.5% during the forecast period (2023-2030).

The competitive landscape of the market demonstrates consolidation, with the top 10 companies capturing more than 70% of the global market revenue. These key players have made substantial investments in research and development to innovate and improve thermal insulation products. Their growth strategies encompass a wide product range, enhanced operational efficiency, and the development of safe and advanced technologies for insulation applications. In order to bolster their offerings and associated services, small and medium-sized enterprises (SMEs) have adopted a strategy of mergers and partnerships with larger companies. This trend is anticipated to have a positive impact on global market dynamics throughout the forecast period, as smaller businesses stand to benefit significantly from such collaborations. 'BASF (Germany)', 'Cellofoam North America Inc. (U.S.)', 'DuPont (U.S.)', 'Knauf Insulation (U.S.)', 'Armacell S.A. (Luxembourg)', 'Beijing New Building Material (Group) Co., Ltd. (China)', 'Evonik (Germany)', 'PT. Bondor Indonesia (Indonesia)', 'BYUCKSAN (South Korea)', 'Huamei Energy-saving Technology Group Co., Ltd. (China)', 'Kaneka Corporation (Japan)', 'KCC Corporation (South Korea)', 'Kingspan Insulation LLC (Ireland)', 'Lloyd Insulations (India) Limited (India)', 'ROCKWOOL International A/S (Denmark)', 'U.P. Twiga Fiberglass Limited (India)', 'GAF (U.S.)', 'Superglass Insulation Ltd. (Scotland)', 'Recticel Group (Belgium)', 'Ursa (Spain)'

Asia Pacific commands around 50% of the global construction market. The region's economic progress, rapid urbanization, and expanded infrastructure development are projected to create a demand for sustainable and energy-efficient housing, thereby driving the building thermal insulation industry.

One key market trend in the building thermal insulation industry is the increasing demand for eco-friendly and sustainable insulation materials. As environmental concerns and energy conservation become more prominent, there is a growing preference for insulation products that have minimal impact on the environment. This trend is driving the development and adoption of insulation materials made from recycled or renewable resources, such as recycled plastic, natural fibers, and bio-based foams. Additionally, there is a focus on reducing the carbon footprint associated with insulation manufacturing processes.

Europe, as the dominant region in the building thermal insulation market, showcases a strong emphasis on energy efficiency and sustainable construction practices. The region's stringent regulations and building codes prioritize energy conservation and greenhouse gas reduction. This has led to extensive adoption of thermal insulation solutions across residential, commercial, and industrial sectors. One relevant example in Europe is Germany, known for its ambitious energy transition goals and emphasis on sustainable building practices. The country has implemented stringent energy performance standards, such as the Passivhaus standard, which requires highly efficient thermal insulation in buildings. This has propelled the demand for advanced insulation materials and systems, fostering the growth of the market in the region.

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