New York, NY, Jan. 25, 2023 (GLOBE NEWSWIRE) — According to Zion Market Research has published a new research report titled “Thermal Insulation Market By Material Type (Stone Wool, Glass Wool, Plastic Foam And Others) By Application (Roof Insulation, Wall Insulation And Floor Insulation) By Building Type (Residential Building And Non-Residential Building) And By Region – Global Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data And Forecasts 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Thermal Insulation Market size & share in terms of revenue was valued at USD 28,519.50 million in 2021 and it is expected to surpass around USD 34855 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 3.40% during the forecast period 2022 to 2028.”
What is Thermal Insulation? How big is the Thermal Insulation Industry?
Thermal Insulation Report Coverage & Overview:
Thermal insulation is an important method for reducing energy consumption in buildings and construction by inhibiting heat transfer through the building envelope. Building thermal insulation products protect against energy loss and provide supplementary support to the building structure, particularly in roofing. The need for building thermal insulation will grow as people become more concerned about energy conservation in both business and residential settings. The market is expected to be driven by the factors described above, as well as strict government regulations aimed at reducing energy usage and greenhouse gas emissions. Owing to the rise in the demand of CVC, the global digital isolator market is estimated to grow at a CAGR of 3.40% during the forecast period.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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Global Thermal Insulation Market: Growth Dynamics
Due to the rising cost of technicians and handymen, a number of businesses are introducing low-cost alternatives for consumers in order to gain a larger portion of the market. These DIY kits are made up of panels and sprays that may be easily combined or linked. These variables will lower the overall cost to the consumer in the future. DuPont, for example, sells Froth-Pak, a spray-based DIY kit that may be used to make PU foam for packing rooftops. During the projection period, the market expansion is expected to be fueled by significant industry players’ efforts to offer similar DIY kits.
The thermal insulation market is expected to experience significant growth in the coming years, driven by several factors. Some of the key growth dynamics in the market include:
Increasing demand for energy-efficient buildings: The increasing focus on reducing energy consumption in buildings is driving demand for thermal insulation products, as they can help reduce energy costs and carbon emissions.
Government regulations: Government regulations and building codes mandating energy-efficient buildings are also driving demand for thermal insulation.
Growing construction industry: The global construction industry is growing, which is leading to an increase in demand for thermal insulation products as they are widely used in the construction of new buildings.
Rising awareness of environmental concerns: The rising awareness of environmental concerns and the need to reduce carbon emissions is driving demand for thermal insulation products as they can help reduce energy consumption and greenhouse gas emissions.
Advancement in materials: The thermal insulation market also sees advancements in materials, such as aerogel, vacuum insulation panel, and phase change materials. These materials have high thermal resistance and can be used in different applications.
Increasing adoption of smart insulation systems: The use of smart insulation systems that can be controlled and monitored remotely is also expected to drive market growth.
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|Market Size in 2021
|USD 28,519.50 million
|Projected Market Size in 2028
|USD 34855 million
|CAGR Growth Rate
|Key Market Players
|Johns Manville Corporation, Saint-Gobain S.A., BASF SE, Kingspan Group plc, Knauf Insulation Inc, Owens Corning, Huntsman Corporation, Rockwool International A/S, Firestone Building Products Company, Cabot Corporation, Dow Corning Corporation, Covestro AG , URSA Insulation, S.A., Paroc Group Oy, Atlas Roofing Corporation, GAF Materials Corporation, Lapolla Industries Inc, Beijing New Building Material Co. Ltd., NICHIAS Corporation, Fletcher Building Limited, ODE Industry and Trade Inc., Aspen Aerogels Inc, Trocellen GmbH, Recticel SA, and KCC Corporation
|By Application Outlook, By Product Outlook, By Building Type, and By Region
|Major Regions Covered
|North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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Thermal Insulation Market: Segmentation Analysis
The global Thermal Insulation market is segregated based on Material type, Application and Building type. Based on material type, the global market is segmented into Stone Wool, Glass Wool, Plastic Foam and Others. The Plastic foam segment is expected to dominate the market. Based on application, the market is segregated into Roof Insulation, Wall Insulation and Floor Insulation. The roof insulation segment is expected to dominate the market. Based on the building type, the market is segmented into Residential Building and Non-residential Building. The residential segment is expected to dominate the market.
The global Thermal Insulation market is segmented as follows:
By Application Outlook
- Stone Wool
- Glass Wool
- Plastic Foam
By Product Outlook
- Roof Insulation
- Wall Insulation
- Floor Insulation
By Building type
- Residential Building
- Non-residential Building
Browse the full “Thermal Insulation Market By Material Type (Stone Wool, Glass Wool, Plastic Foam And Others) By Application (Roof Insulation, Wall Insulation And Floor Insulation) By Building Type (Residential Building And Non-Residential Building) And By Region – Global Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data And Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/thermal-insulation-market
Some of the main competitors dominating the global Thermal Insulation market include –
- Johns Manville Corporation
- Saint-Gobain S.A.
- BASF SE
- Kingspan Group plc
- Knauf Insulation Inc
- Owens Corning
- Huntsman Corporation
- Rockwool International A/S
- Firestone Building Products Company
- Cabot Corporation
- Dow Corning Corporation
- Covestro AG
- URSA Insulation
- Paroc Group Oy
- Atlas Roofing Corporation
- GAF Materials Corporation
- Lapolla Industries Inc
- Beijing New Building Material Co. Ltd.
- NICHIAS Corporation
- Fletcher Building Limited
- ODE Industry and Trade Inc.
- Aspen Aerogels Inc
- Trocellen GmbH
- Recticel SA
- KCC Corporation
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Thermal Insulation market is likely to expand at a CAGR of around 3.40% during the forecast period (2022-2028).
- In terms of revenue, the Thermal Insulation market size was valued at around US$ 28,519.50 million in 2021 and is projected to reach US$ 34855 million by 2028.
- By Material type, the plastic foam sector of the global thermal insulation material market is predicted to develop at the fastest rate.
- By Application, The global Thermal Insulation market is dominated by wall insulation segment.
- On the basis of geography/region, the “North America” region was the leading revenue generator in 2021.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Thermal Insulation industry?
- What are the main driving factors propelling the Thermal Insulation Market forward?
- What are the leading companies in the Thermal Insulation Industry?
- What segments does the Thermal Insulation Market cover?
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- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application Outlook, By Product Outlook, By Building Type, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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North America’s market is characterized by significant government backing for energy-saving technologies, such as building thermal insulation. Furthermore, a high level of public awareness in the region is projected to keep the business alive and well. A growing emphasis on green building initiatives, as well as the resulting demand for thermal insulation, are some of the key reasons driving growth. Due to large-scale infrastructure development plans by the governments of China, India, and Southeast Asia, Asia Pacific is the largest and fastest-growing area in the worldwide building thermal insulation market. Furthermore, in the next five years, India and China are projected to impose stricter regulations on energy consumption, bringing in even more cash for the sector.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- In March 2021, Vliepa GmbH, a company specialising in the coating, printing, and finishing of nonwovens, film, and paper for the construction sector, was bought by Owens Corning. For European customers operating in the regional construction industry, the acquisition expands the company’s nonwovens portfolio.
- In April 2021, SureSlope prefabricated tapered products were introduced by Atlas Roofing Company. The new polyiso roof insulation component family is excellent for roofing applications, eliminating waste on the jobsite and cutting installation time.
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FREQUENTLY ASKED QUESTIONS
- Which key factors will influence Thermal Insulation market growth over 2022-2028?
- What will be the value of the Thermal Insulation market during 2022-2028?
- Which region will contribute notably towards the Thermal Insulation market value?
- Which are the major players leveraging the Thermal Insulation market growth?
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