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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 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 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 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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Global Building Thermal Insulation Market

Product ID: SQMIG15F2118