The North America Building Thermal Insulation Market is expected to value at USD 10.75 billion by 2025. The market is subject to witness a substantial growth due to the increasing building & construction activities in the region and rising disposable income. Favorable government policies and regulation coupled with increase in the number of promotional activities by private bodies are expected to drive the growth of North America building thermal insulation industry over the forecast period. The North America building thermal insulation market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Rising concerns regarding outside pollution, increasing health consciousness among individuals, and rising standard of living are key contributing factor for industry growth in the recent years. Additionally, rapid urbanization has led to requirement for residential buildings such as schools, colleges, clinics, roads, and commercial spaces. Massive funding from local government to cater these demands for these public infrastructures is predicted to drive market expansion in the upcoming years. Moreover, improvements in the existing infrastructures is one of the key drivers for robust market growth.
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Use of thermal insulation for building & offices instead of air purifiers is a major driving factor for industry expansion in the North America region. Thermal isolation materials aids in limiting the accumulation of heat within the buildings. This results in lower dependence on air conditioning, thus cutting down the energy costs. These facts are expected to boost market demand for thermal insulation materials in the upcoming years. Numerous government policies to promote energy efficient solutions for sustained development via insulation technologies are projected to foster the market growth of North America building thermal insulation over the next seven years.
The North America building thermal insulation industry is broadly categorized into four major segments based on the product type such as glass wool, expanded polystyrene, XPS and mineral wool. The glass wool is considered as one of the fastest growing segment in the North America building thermal insulation market with substantial revenue generation in the last few years. Growing popularity of the glass wool segment is attributed to its cost efficiency and higher market penetration.
The North America building thermal insulation industry is divided by countries as U.S., Canada and Mexico. U.S. has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure. Canada is predicted to hold major market share in the North America building thermal insulation market with massive growth in forecast period.
Favorable government policies adopted by Canada regarding the materials to be used in manufacturing thermal insulation materials coupled with significant investment by leading industry players considering potential growth opportunities are expected to favor industry growth in the region. The key players in the North America building thermal insulation industry are Dow Building Solutions, Inc., Owens Corning Co., Johns Manville Co., Huntsman International LLC, and CertainTeed Co.
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North America Building Thermal Insulation Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
• Glass wool
• Mineral wool
North America Building Thermal Insulation Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
North America Building Thermal Insulation End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
North America Building Thermal Insulation Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
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