Global Insulation Products Market

Global Insulation Products Market Size, Share, Growth Analysis, By Insulation(Thermal, Acoustic & others), By Material(Mineral Wool, Fiberglass), By End Use(Building & Construction, Industrial) - Industry Forecast 2024-2031

Report ID: SQMIG15A2396 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 93 | Figures: 77

Global Insulation Products Market News

  • In July 2023, Kingspan Group revealed its strategic move to acquire a majority stake in Steico SE, a prominent manufacturer specializing in wood fiber insulation. This acquisition plan, contingent upon regulatory approvals, is slated for execution in early 2024, signifying Kingspan's proactive efforts to expand its market presence and offerings within the insulation sector.
  • In February 2023, GAF introduced its innovative Timberline Ultra HD™ shingles, designed to provide efficient insulation, robust waterproofing, and expedited installation processes. This launch underscores GAF's commitment to delivering advanced and effective insulation solutions, catering to the evolving needs of consumers seeking enhanced performance and installation convenience in roofing materials.
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Global Insulation Products Market size was valued at USD 58.9 billion in 2022 and is poised to grow from USD 64.2 billion in 2023 to USD 127.92 billion by 2031, at a CAGR of 9.00% during the forecast period (2024-2031).

The competitive environment of the global insulation products market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Owens Corning Corp', 'BASF', 'CertainTeed Corporation', 'Huntsman International', 'Dow Chemical Company', 'Rockwool International A/S', 'Knauf Gips KG', 'Johns Manville', 'Armacell International S.A', 'Lloyd Insulations (India)', 'Atlas Roofing Corporation', 'Duro-Last Roofing Inc', 'Recticel Insulation', 'Paroc', 'UP Twiga Fiberglass', 'Beijing New Building Material Group', 'Supreme Petrochem Limited', 'Superlon Worldwide', 'SY Panel Company Limited', 'Shinwoo Industrial Company Limited', 'Sae Rom Panel'

In recent years, insulation products have garnered significant attention within the global building and construction sector. This surge in interest is propelled by the growing trend toward constructing energy-efficient buildings, fostering heightened demand for insulation products. Forecasts predict that the Building & Construction segment will maintain its dominance in the end-use market, commanding a market share exceeding 35% throughout the forecast period.

Countries worldwide have increasingly recognized the imperative need for proactive measures to address the escalating challenge of global warming. While the concept of energy efficiency isn't novel, its widespread acceptance has notably evolved over time. Industries are actively innovating to develop more efficient, energy-conserving insulation solutions, extending their applications beyond building insulation to include automotive insulation. The overarching objective is not solely focused on curtailing energy loss but also encompasses reducing overall fuel consumption. Insulation serves a dual purpose, not only by preventing energy wastage but also by enhancing comfort levels and fortifying safety measures.

North America plays a pivotal role in the insulation products market due to several key factors. The region boasts a thriving construction sector characterized by significant residential, commercial, and industrial developments, fueling the demand for insulation materials. Stringent regulations and standards promoting energy efficiency and sustainability have spurred the adoption of advanced insulation technologies in buildings.

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Global Insulation Products Market

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