Building Thermal Insulation Market: Growth Prospects, Key Vendors, Future Scenario Forecast to 2026
Building thermal insulation market from stone wool materials segment is expected to record a valuation of USD 4,441.44 million by 2026. Elaborating further on the materials used, it is essential to mention that stone wool materials are currently witnessing massive momentum, perhaps due to its natural fire protection features. Stone wool insulation products are abundantly used worldwide due to their intrinsic properties like water-repellency and exceptional resistance to fire.
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In terms of application spectrum, it is quite overt that industrial segment would accrue phenomenal gains across the overall building thermal insulation market, courtesy- introduction of global initiatives for reduction of carbon emissions by enhancing energy efficiency and sustainability. As a matter of fact, it has been reported that the segment is all set to acquire a business share of 15 per cent over the projected time frame.
Collective emissions of about 50 billion tons of carbon dioxide almost every year, which is nearly 76% of the toxic gas emission worldwide, have compelled various governments to introduce strict norms and policies pertaining to significant reduction in these emission levels. Undeniably, this has offered a potential boost to the emergence of building thermal insulation concept. It has been predicted that global building thermal insulation market is set to produce tremendous gains over the span of 2020 to 2026, while accounting for a revenue share of USD 31 billion by the end of the duration.
Building thermal insulation market is diversified into vivid regions, out of which, the Asia Pacific region is touted to emerge as a revenue pocket for the overall market, subject to rapid urbanization and industrialization, in line with massive rise in government spending on infrastructure development. Apparently, need for eco-friendly building insulation products is also leading to an increased energy consumption, complementing the surging market growth graph. The Asia Pacific building thermal insulation industry had acquired a revenue share of 20 per cent in 2019 and is estimated to grow profusely in the years to come.
As per numerous studies and reports, building thermal insulation provides a high level of energy efficiency compared to that of conventional wooden framed and concrete constructions. In fact, believing the claims by the U.S Environmental Protection Agency, adding insulation to constructions can save up to 15 per cent on cooling and heating costs. Some of the well acclaimed and prominent insulation materials like ICF systems are generally used to reduce the requirements for active cooling and heating systems in tropical and semitropical regions.
Various industry players including BASF SE, CertainTeed, Johns Manville, Huntsman International, Rockwool International, and Saint-Gobain amongst others have been relentlessly working towards developing and introducing novel products in the global market via being engaged in acquisitions, partnerships, and collaborations. These market strategies have indeed enabled the companies to gain a competitive edge in the overall business ecology.
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Some Point from Table of Contents:
Chapter 4 Building Thermal Insulation Market, By Material
4.1 Global building thermal insulation market share, by material, 2019 & 2026
4.2 Open cell materials (Wool insulation)
4.2.1 Market estimates & forecast, 2016 – 2026
4.2.2 Global market estimates and forecast, by region, 2016 – 2026
4.2.3 Glass wool
4.2.3.1 Market estimates & forecast, 2016 – 2026
4.2.3.2 Global market estimates and forecast, by region, 2016 – 2026
4.2.4 Stone wool
4.2.4.1 Market estimates & forecast, 2016 – 2026
4.2.4.2 Global market estimates and forecast, by region, 2016 – 2026
4.2.5 Other open cell materials
4.2.5.1 Market estimates & forecast, 2016 – 2026
4.2.5.2 Global market estimates and forecast, by region, 2016 – 2026
4.3 Closed cell materials (Plastic foams)
4.3.1 Market estimates & forecast, 2016 – 2026
4.3.2 Global Building Thermal Insulation Market estimates and forecast, by region, 2016 – 2026
4.3.3 Expanded polystyrene
4.3.3.1 Market estimates & forecast, 2016 – 2026
4.3.3.2 Global market estimates and forecast, by region, 2016 – 2026
4.3.4 Extruded polystyrene
4.3.4.1 Market estimates & forecast, 2016 – 2026
4.3.4.2 Global market estimates and forecast, by region, 2016 – 2026
4.3.5 Polyurethanes
4.3.5.1 Market estimates & forecast, 2016 – 2026
4.3.5.2 Global market estimates and forecast, by region, 2016 – 2026
4.3.6 Other closed cell materials
4.3.6.1 Market estimates & forecast, 2016 – 2026
4.3.6.2 Global market estimates and forecast, by region, 2016 – 2026
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