The report “Building Thermal Insulation Market by Material (Glasswool, Stonewool, Plastic Foam), Application (Roof Insulation, Floor Insulation, Wall Insulation), Building Type (Residential, Non-Residential) and Region – Global Forecast to 2027″, will grow to USD 35.3 billion by 2027, at a CAGR of 4.7% from USD 28.0 billion in 2022. Building thermal insulation is used to reduce the amount of energy required to heat or cool a house and minimize the amount of heat that escapes during the winter and limits the hot summer air to penetrate the house. It is the most cost-effective measure in climates that have a wide range of annual average temperatures. The resistance to heat flow of insulation is measured or rated in terms of its thermal resistance or R-value. The higher the R-value, the higher will be heat resistance and better will be the insulation material. Insulation is mainly used in buildings having thin walls and timber constructions.
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• 313 Market data Tables
• 63 Figures
• 274 Pages and in-depth TOC on “Building Thermal Insulation Market – Global Forecast to 2027″
Some of the prominent key players are:
· Kingspan Group Plc (UK)
· Knauf Gips KG (Germany)
· Owens Corning (US)
· Rockwool International A/S (Denmark)
· Saint-Gobain SA (France)
· BASF SE (Germany)
Opportunity: High energy requirements
The demand for thermal insulation in buildings is not only dependent on the growth of the construction industry, but also on the growth of the energy industry. The cost of energy is rising due to its high demand in regions such as Europe and North America. Building thermal insulation is used to mitigate the high energy requirement, as buildings account for 40% of energy consumption. The major factors that increase the usage of building thermal insulation are the rising scarcity of energy, cost of energy, and increasing pressure to reduce global warming caused by the use of fossil fuels.
Roof insulation is projected to be the fastest growing application of the building thermal insulation market, in terms of value, during the forecast period.
The demand is estimated to surge for the flat roof insulation due to the rapidly expanding construction industry. Residential and non-residential projects in countries such as China, Saudi Arabia, India, and the US is driving the market or flat roof insulation market. The refurbishment and renovation being done is driving the building thermal insulation market in this segment. The materials used for roof insulation include stone wool, PUR & PIR foam, EPS foam, and XPS foam.
Asia Pacific is projected to be the fastest growing market for building thermal insulation during the forecast period
Asia Pacific is developing rapidly due to improving economic conditions and increasing population. The increasing population in the region accompanied by the development of new technologies and products are projected to make this region an ideal destination for the building thermal insulation industry to grow. Improved lifestyle, increasing income, and growing population help the building thermal insulation market to flourish in developing regions. However, setting up new plants, implementing new technologies, creating a value-supply chain between raw material providers and manufacturing industries in the developing regions of Asia-Pacific would be a challenge for the industry players as there is a lack of urbanization and industrialization.
Recent Developments:
• In March 2022, Knauf Gips KG has officially opened a new Glass Mineral Wool thermal insulation recycling facility with an investment of USD 12.5 million in Vise, Belgium, paving the way for an exciting new recycling service for the construction and deconstruction industry.
• In February 2022, Kingspan Group announced the completion of its acquisition of THU PERFIL SL, the Valencian firm specializing in metal ceiling profile. THU has decades of experience in ceilings, roofing, drywall and partition profile manufacturing.
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