According to the latest report published by Credence Research, Inc. “Global Building Thermal Insulation Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global building thermal insulation market was totaled 26,167 kilo ton in 2017, expected to grow at the CAGR of 4.6% from 2018 to 2026.
Building thermal insulation are materials that helps in minimizing the heat transfer within the buildings therefore reducing the amount of power required for heating or cooling and saves the energy cost. Building insulation is the most cost-effective measure in climates that have a wide range of annual average temperatures. Building thermal insulation demand is expected to witness steady growth during the forecast period from 2018 to 2026 owing to adoption of favorable building codes and regulations maximizing their energy efficiency, construction of new buildings, population growth & urbanization, and rising importance of reducing energy costs across the world.
Europe is the dominant region in building thermal insulation market. European region is actively working towards reducing the environment impact of buildings and maximizing their energy efficiency by providing the materials needed in the insulation of the building envelope. Europe has made progress in adopting policies for promoting the renovation of Europe’s building stock and preventing heat gain/loss through insulation. These measures are expected to boost both the construction sector and the market of buildings thermal insulation materials. Europe is the net exporter of building thermal insulation materials as majority of top players are headquartered in the region.
Based on materials type, this market is segmented into plastic foam, glass wool, stone wool, and others (aerogel, cellulose, etc.). Plastic foam is the further categorized into polystyrene foam (EPS and XPS), polyurethane (PUR) & polyisocyanurate (PIR) foam, and others (phenolic foam, elastomeric foam, etc.). Plastic foam is the leading material type owing to better insulation properties at economical prices. Plastic foam segment is closely followed by glass wool with the significant market share in 2017.
Based on application, building thermal insulation market is categorized into roof (flat roof and pitched roof), wall (external, internal, and cavity wall), and floor. Where in, wall dominated the segment in 2017 in terms of value and volume. Whereas, by construction type, the market is bifurcated into residential building and non-residential building (commercial and others). Residential building segment held the largest market value share in 2017 owing increasing number of housing projects coupled with rising government spending over building & construction especially in developing economies.
Browse the full report Global Building Thermal Insulation Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/building-thermal-insulation-market
The competitiveness in the building thermal insulation materials is considered to be moderate to strong. However, such competitiveness can be affected by growing demand rate and quality standards of insulating products. Manufacturers in the market are investing extensive research & development to introduce economical materials with excellent insulating properties and are eco-friendly in nature. Moreover, smart solutions such as phase change materials, reflective coatings, and other advanced materials with superior insulating properties are also being introduced to address the varying need of consumers. Key manufacturers of building thermal insulation operating in the market include Saint-Gobain S.A. (France), Dow Corning Corporation (U.S.), Owens Corning (U.S.), BASF SE (Germany), Covestro AG (Germany), Huntsman Corporation (U.S.), and Knauf Insulation, Inc. (U.S.) among others.