Building Thermal Insulation Market Size Worth $49.01 Billion By 2032 | CAGR: 4.6%

Building Thermal Insulation Market Size Worth $49.01 Billion By 2032 | CAGR: 4.6%

The size of the global building thermal insulation market was estimated at USD 49.01 billion in 2022 and is projected to increase at a 4.6% CAGR from 2023 to 2032. The report “Building Thermal Insulation Market Size, Share & Trends Analysis Report By Product (Glass Wool, Mineral Wool, EPS, XPS, Cellulose), By Application (Roof, Walls, Floor),By Region, And Segment Forecasts, 2024 - 2032gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increased household and commercial deployment of the product to reduce overall energy costs and improved awareness of energy conservation are two major factors projected to fuel the expansion.

Due to the emphasis on lowering overall energy usage, it is predicted that favorable legislation would fuel the market for building thermal insulation. The use of heating, ventilation, and air conditioning (HVAC) systems in a building can be reduced with the help of thermal building insulation. This lowers overall energy use, which is expected to benefit the growth.

As a result of favorable building codes in the United States and Canada, as well as the establishment of energy certification organizations like the Leadership in Energy and Environmental Design (LEED) and the U.S. Green Building Council, it is anticipated that demand for building thermal insulation will rise (USGBC). The United States Environmental Protection Agency (EPA) has placed tight restrictions on the usage of foamed plastics that could hamper market growth due to their low biodegradability and carcinogenicity.

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The market for thermal insulation has shrunk as a result of the global COVID-19 meltdown. Lockdown conditions have halted new construction projects and banned the consumption of insulating materials in the majority of the world's countries. Also, the historic buildings that must be insulated in accordance with the new standards and guidelines issued by the regional administration are on hold due to a lack of both the requisite supplies and the people to finish the installation.

Building Thermal Insulation Market Report Highlights

  • Due to the increased demand to stop heat from building roofs from being absorbed by direct sunlight, roof application had a high market share in 2022 and is predicted to experience a significant CAGR over the projected period.
  • Wall application is anticipated to rise at a high CAGR in terms of revenue over the forecast period and take the lead in the building thermal insulation market in 2022 as a result of the product's expanding use on both interior and exterior walls.
  • Europe had a largest market share in 2022, is anticipated to continue to be a sizable market for thermal insulation for buildings by 2032. Initiatives conducted by the European Commission and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) to encourage thermal insulation as a means of energy conservation are projected to benefit regional development.
  • A few of the leading companies operating in the international market are CertainTeed Corporation, Roxul, Inc., Dow Building Solutions, Owens Corning Corporation, Saint-Gobain S.A., Byucksan Corporation, Kingspan Group PLC, Rockwool International A/S, GAF Materials Corporation, Guardian Building Products, Inc., Huntsman International LLC, Johns Manville Corporation, Cellofoam North America, Inc., Atlas Roofing Corporation, CertainTeed Corporation, Roxul, Inc.,

Polaris Market Research has segmented the building thermal insulation market report based on product, application, and region:

Building Thermal Insulation, Product Outlook (Revenue - USD Billion, 2019 - 2032)

  • Glass Wool
  • Mineral Wool
  • EPS
  • XPS
  • Cellulose
  • Others

Building Thermal Insulation, Application (Revenue - USD Billion, 2019 - 2032)

  • Roof
  • Walls
  • Floor

Building Thermal Insulation, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa