Building Thermal Insulation Market Size Is Predicted To Reach $36.9 Billion By 2025: Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to new report published by Grand View Research, the global building thermal insulation market is anticipated to reach USD 36.9 billion by 2025. Growing necessity for conservation of energy through advanced techniques is anticipated to propel the market during the forecast period.

According to a report by Grand View Research, Inc.; the global building thermal insulation market is estimated to attain a value of around USD 36.9 billion by 2025. Growing necessity for conservation of energy through advanced techniques is anticipated to propel the market during the forecast period (2018 to 2025). Thermal insulation of residential and commercial buildings can avoid accumulation of heat within buildings and can reduce dependency on air conditioning. Less use of air conditioners can reduce energy costs. These factors are anticipated to play a crucial role in the overall market expansion.

High demand for insulation from residential and commercial buildings to reduce accumulation of heat inside buildings is anticipated to propel growth of the market in the coming years. Growing awareness regarding energy conservation owing to rising energy costs is likely to stimulate market growth. Favorable government policies to promote energy efficiency through sustainable development using advanced insulation technologies can impel growth of the market. Increasing focus on lowering the dependency on air conditioning and reducing energy costs is expected to fuel market growth over the forecast period.

The worldwide building thermal insulation market can be segregated on the basis of product, application, end use, and region. Based on product, the market can be divided into mineral wool, glass wool, expanded polystyrene (EPS), and extruded polystyrene (XPS). In the coming years, mineral wool is expected to witness significant growth owing to increasing use in thermal barrier applications in commercial and residential buildings. In can be used in insulation of internal walls, wall cavities, and external walls. In addition, useful properties such as water resistance, non-toxicity, recyclability are expected to fuel demand for EPS in thermal insulation activities over the forecast period. However, glass wool is likely to witness modest growth rate in the coming years owing to less awareness among consumers regarding this product.

Full Research Report On Building Thermal Insulation Market Analysis:

U.S. building thermal insulation market size, by product, 2014 – 2025 (USD Billion)

Based on application, the market for building thermal insulation can be segmented into walls, rood, and floor. In the coming years, wall insulation is expected to hold the highest market share owing to rising constructional activities across the globe. In addition, effective properties such as recyclability, stable R-value, and applicability for inverted assemblies are likely to stimulate demand for EPS and XPS segments in the coming years.

Based on end-use, the market can be bifurcated into residential and non-residential. In 2015, residential construction appeared as most significant segment and accounted for 50% of the total market share in that year. By 2025, it is expected to gain around 85% of the market share owing to rising demand for insulation in residential building to reduce energy consumption. In addition, growing adoption of re-insulation for under-insulated residential buildings to save energy is anticipated to propel demand in the coming years.

Regional segmentation includes Europe, North America, Asia Pacific, Central and South America, and Middle East and Africa. In Asia Pacific, stringent government regulations regarding energy conservation by reducing greenhouse gas emissions is expected to foster market growth in the region. In addition, increasing expenditure towards constructional activities by government of India, China, and Japan to improve infrastructure of residential and commercial buildings can drive growth.

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Global building thermal insulation market share by application, 2015 (%)

In North America, growing adoption of strict building codes such as international energy conservation code (IECC)is likely to impel for the thermal insulation market. In addition, increasing focus on making old buildings energy efficient is expected to support this region witness maximum market share in the coming years.

In Europe, stringent government regulations from Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) and the European Commission to implement thermal insulation in buildings to conserve energy can fuel market growth. In addition, growing awareness among consumers regarding benefits of insulation can foster growth of the market during next few years. Moreover, legislation passed by most European countries regarding installation of thermal barriers in homes based on their R-value and climatic conditions can propel market growth in the region.

Some of the leading companies in the global building thermal insulation market are Owens Corning Corp.,Dow Building Solutions, Huntsman International LLC, Johns Manville Corporation, and CertainTeed Corporation. Most of these companies are focusing on possible mergers and acquisitions to expand their presence in market. In addition, few companies are also indulged in manufacturing of application specific thermal insulation materials which are expected to have less adverse effect on ozone layer.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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