Building Thermal Insulation Market By Material Type (Plastic Foam, Glass Wool, Stone Wool, Others), By Application (Roof, Wall, Floor), By Construction Type (Residential Building, Non-Residential Building) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

The building thermal insulation market was worth 26,167.7 kilotons in 2017 and is expected to grow at a CAGR of 4.6% from 2018 to 2026. Factors such as increased demand for insulation from residential and non-residential applications, as well as rising regulation for energy savings and efficiency, drive market growth from 2018 to 2026. Thermal insulation materials mitigate the transfer of heat within the buildings, consequently lowering the dependence on air conditioning, which in turn reduces energy costs.

Rising building construction and industrial activity, especially in developing economies, boost the demand for insulation. Furthermore, people migrating from rural to urban areas in developing countries will stimulate building activity in urban areas, increasing demand for building insulation. Insulation demand in developed economies will rebound from downturns (2008-2013), and strict environmental and governmental regulations to reduce energy consumption will lead to the adoption of new and latest building codes, propelling demand for building thermal insulation usage.

Various international building codes and regulations play an important role in the building thermal insulation market. These codes act as catalysts for growth, but they also sometimes act as restraining factors by restricting the use of certain materials in specific applications. For instance, due to the introduction of new building codes in the United Kingdom, Nigeria, China, Italy, Australia, Russia, and Mexico, these countries reduced their energy intensity by 2% annually.

Rising investments in new and aging infrastructure, renovation of non-residential buildings, and new housing projects in the U.S., China, India, and Brazil are also propelling the overall growth market. Major players operating in the building thermal insulation 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.), Knauf Insulation, Inc. (U.S.), Rockwool International A/S (Germany), GAF Materials Corporation (U.S.), URSA Insulation, S.A. (Spain), Atlas Roofing Corporation (U

Market Snapshot: Global Building Thermal Insulation Market Volume

Plastic foam is the leading segment due to rising demand from the building and construction industries for efficient and low-cost energy-saving materials.

Plastic foam represented the largest share of over 40% in 2017 in terms of both value and volume. Plastic foam includes polystyrene foam (EPS and XPS), polyurethane (PUR) and polyisocyanurate (PIR) foam, and others (phenolic foam, elastomeric foam, etc.). Expanded polystyrene (EPS) foam is the most widely used plastic foam material for external wall insulation, especially in cold regions, owing to its low price. Polyurethane (PU) foam follows expanded polystyrene foam in terms of volume consumption, as it offers some advantages in the context of higher requirements for thermal insulation while being less volumetric than other insulation materials for the same insulation efficiency.

Glass wool was the second-largest material type in 2017 and is expected to maintain its position over the forecast period. Glass wool is also identified as the fastest-growing material type during the forecast period owing to its excellent eco-friendly and fire-resistant properties.

Wall Insulation Dominates the Application Segment of the Building Thermal Insulation Market in 2017

In 2017, wall applications had the highest value share of more than 40%. The need to enhance energy efficiency and weatherproof, coupled with stringent construction standards, will drive segment growth during the forecast period. Also, walls are subject to the majority of heat loss; they, therefore, require more insulating material than the roof and floor. Plastic foams are mainly used in wall insulation owing to their low cost and excellent insulating properties. External walls, internal walls, and cavity walls are examples of wall applications, with external walls accounting for the largest market value share in 2017.

Roof application was the second largest application segment of the building thermal insulation market in 2017–2018. Roof insulation is projected to exhibit the fastest growth during the forecast period. Roof applications are further segmented into flat roofs and pitched roofs.

The residential building will retain its top position owing to the increasing number of housing projects and the rural-to-migration of people, especially in developing economies.

In terms of value, the residential building sector dominated the market in 2017 and is expected to grow at a CAGR of 4.8% during the forecast period. Increasing residential construction activities in emerging economies such as India, China, Mexico, Brazil, and South Korea, coupled with refurbishment and re-insulation activities for old homes, are also likely to aid the increasing demand. Also, rural-to-urban migration of people, especially in developing economies, is contributing to the overall demand for building thermal insulation.

Non-residential buildings are projected to witness the fastest growth during the forecast period. The non-residential building segment includes commercial buildings and others (educational buildings, religious buildings, government offices, etc.). Rising awareness and the need for energy-efficient structures to reduce high energy costs in commercial and public buildings are anticipated to drive the market for the non-residential building segment.

Europe dominated the building thermal insulation market and was expected to maintain its dominant position during the forecast period.

In 2017, Europe had a market value share of more than 30%. Stringent regulations from the European Commission and REACH promote thermal insulation as a means of energy conservation to mitigate the energy costs expected to support market growth. The Nordic countries, Germany, France, and the U.K. are among the highest consumers of home insulation. The European Commission's Energy Performance of Buildings Directive (EPBD) governs the usage of insulating materials and their environmental impact in order to standardize the market in the region and promote the demand for building thermal insulation.

Europe is closely followed by North America and Asia-Pacific, with significant market shares in terms of market value and volume. Asia-Pacific is the fastest-growing region owing to increasing government spending on construction activities in countries such as China, India, etc., along with energy conservation initiatives to reduce greenhouse gas emissions, which trigger regional market growth.

The building thermal insulation market is moderately competitive.

The market for building thermal insulation is highly fragmented, with established players offering a full range of building insulation solutions. Geographic and capacity expansion, as well as the introduction of new environmentally friendly green products to address stringent environmental regulations, are key strategies employed by the market's leading players. For instance, in June 2017, BASF SE launched a new generation of eco-friendly spray foam insulation, Elastospray® LWP, suitable for all areas of the building envelope.

Periods of History and Forecast

Each market segment is analyzed in our study for the period of 2016 to 2026, with 2017 as the base year, while the period from 2018 to 2026 is considered for the CAGR calculation.

Report Scope

The report provides a comprehensive overview of the global building thermal insulation market by segmenting it as follows:

This research report describes leading continents and their major countries, along with profiles of key players operating in the overall market and their planned developments. Our report further defines the overall market dynamics, such as drivers, challenges, and opportunities prevalent in the market, to understand the global building thermal insulation market more explicitly. Our in-depth quantitative and qualitative analysis of each segment up to the country level highlights investment opportunities and revenue pockets in the market.

Key questions are answered in this report.

  • What are the current market trends in the building thermal insulation market, and what are the valuable opportunities for the players?
  • How do environmental and government regulations affect global as well as regional markets?
  • Which is the most lucrative region for investment?
  • What are the market size and trends in emerging markets?
  • Which are the prime applications of building thermal insulation across different geographies?
  • Which is the most widely consumed material in the building thermal insulation market?
  • Which are the major construction types for building thermal insulation, and what are their market sizes?
  • Which are the leading players, and what are their market positions and strategies?

Frequently Asked Questions:

The market for Building Thermal Insulation is expected to reach US$ XX in 2026.

The Building Thermal Insulation market is expected to see significant CAGR growth over the coming years,at 4.6%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

BASF SE 83,Saint-Gobain S.A. 85,Owens Corning 87,Kingspan Group PLC 89,Johns Manville Corporation 91 are some of the major players in the global market.

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Published Date:  Sep 2018
Category:  Advanced Materials
Report ID:   59315
Report Format:   PDF
Pages:   120
Rating:    4.2 (55)
Delivery Time: 24 Hours to 48 Hours   
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