Building Thermal Insulation Market to 2025 - Development Factors and Future Prospects
Category: #headlines  By Rahul Varpe  Date: 2020-10-08
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Building Thermal Insulation Market to 2025 - Development Factors and Future Prospects

Aided by advancements such as enhanced thermal properties, excellent soundproofing, and easy installation methods, the global building thermal insulation market is expected to cater to widespread demands more often than not. Additionally, growing efforts and investments to build energy efficient infrastructures to minimize carbon footprint, enhance thermal comfort and more, will also contribute towards industry expansion.

As the awareness pertaining to the harmful impact of conventional construction dawns on industry contenders, and the proliferation of green construction practices depicts an upsurge, the building thermal insulation market share is expected to observe an incline. As per estimates, building thermal insulation industry size will surpass $35bn by 2025.

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Rapid technological advancements have also led to the development of novel insulating materials that could reduce heating and cooling loads in buildings and potentially lower energy consumption. For instance, building walls equipped with phase change materials (PCM) offer improved energy savings, peak space cooling, and enhanced thermal comfort in occupied spaces. Globally renowned company, Panasonic, boasts of a vacuum insulation panel (VIP) technology that is slated to offer one of the highest levels of insulation performance along with extremely low thermal conductivity. As companies work to incorporate advanced products in the mainstream, building thermal insulation market is likely to accrue commendable profits in the years to come.

As per official reports, in May 2019, the U.S Department of Energy (DoE) announced an investment of around $33.5 million for early-stage R&D in advanced building construction techniques primarily to reduce energy bills and to address a combination of envelope, heating, cooling and ventilation issues. Initiatives such as the aforementioned are expected to further bolster the overall building thermal insulation market.

Due to the rapid surge in the construction activities owing to proliferating urbanization trends, the worldwide building thermal insulation market will procure massive proceeds over the coming years. According to the United Nations, about 68% of the world’s population is likely to reside in urban areas by 2050 – signifying the addition of 2.5 billion people to the foray. A substantial proportion of this increase is anticipated to take place in Asia and Africa. It is thus rather overt that the adoption of advanced insulation materials to build and manage urban spaces will become vital in the years to come, paving the way for the expansion of building thermal insulation industry.

Powered by the rapidly increasing focus towards curbing energy consumption in the residential and commercial spaces, building thermal insulation market has come to chart out an extremely profitable growth path lately. It is no secret that heating and cooling operations account for a large share of total energy demand in the residential, commercial and industrial sectors. In the EU alone, buildings and industries are slated to account for half of region’s energy consumption for heating and cooling purposes. Estimates claim that by 2030, the requirement of energy for cooling buildings is expected to rise by 72%.

Nowadays building constructors are constantly seeking more cost-efficient construction methods that could vastly improve thermal performance and durability of future construction projects. One such method includes the use of closed-cell foam which, compared to open-cell foam, offers improved strength, higher R-value, and greater resistance to the leakage of air or water vapor. The material, in polyurethane foam type, offers R-values of around 6.0 per inch and due to its excellent insulation properties, strength-to-weight ratio, versatility and durability is frequently used in building and construction applications.

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Among these, spray polyurethane foam (SPF) insulates are used in roofing to avoid thermal bridging, while offering a long-lasting roofing assembly. Moreover, the material’s ability to improve building’s structural integrity, particularly in areas encountering high frequency winds has offered an added impetus to the demand for SPF insulates. In addition, the U.S. National Association of Home Builders (NAHB) has also tested the ability of SPF, and has claimed that spray foam-insulated wall panels increase the racking strength of both metal and wood stud walls by about 70% to 200%, depending on the type of sheathing being used.

These benefits will undeniably propel the demand for polyurethane foams and other plastic foams, thereby impelling the global building thermal insulation market size from closed cell materials. As a matter of fact, closed cell materials held an appreciable 40% of the building thermal insulation industry share in 2018, and are expected to gain commendable traction in the years ahead, owing to their outstanding moisture and thermal resistance properties.

To avoid such heavy energy demands that could generate massive electric bills and huge carbon footprints, the construction industry contenders aim to primarily use thermal insulation materials in buildings. The product is used to prevent heat gain/loss through the building envelope and is also being adopted by the chemical, petroleum, iron & steel, and food & beverage sectors to reduce energy loss from heat transfer systems.

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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