Building Thermal Insulation Market to witness major growth in coming years

Global building thermal insulation market trends over 2022-2028 will be driven by increased demand from both developed and emerging economies. Glass wool, polyurethanes, aerogel and other materials have become popular across commercial and industrial infrastructure applications. A gradual shift towards improving the energy efficiency of buildings is impacting the selection of insulation materials worldwide. Thermal insulation is used in roofing and flooring applications as well, representing the significant market scope over the next few years.
The use of open cell materials like wool insulation provides various advantages for buildings, such as enhancing the durability, restricting moisture content, better acoustic performance and significant fire-resistant properties. Consistent rise in the demand for more energy efficient buildings in regions like Europe and North America are fostering the use of wool insulation. It is projected that building thermal insulation industry revenue share from wool insulation segment will register more than 4.3% CAGR through 2028.
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With regards to applications, insulating materials are utilized for internal and external walls, air cavity walls, roofs and floors. Internal walls held nearly 9.07% share of building thermal insulation market in 2021 in terms of volume and will grow at around 4% CAGR over 2022-2028. Commercial infrastructure development is among the key factors expanding the segment share. Most office buildings in areas with extreme climatic conditions focus on reliable insulating materials to ensure a safe and comfortable working environment.
Building thermal insulation industry share from roof applications was over USD 7.4 billion during 2021. It is anticipated to surpass USD 11 billion by 2028, as the product demand increases from residential sector. A large number of residential projects opt for insulated roofing to protect inhabitants in regions with extreme weather. In addition, proper roof insulation can help lower heating bills due to lower power consumption and also cut down on carbon emissions.
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It is projected that building thermal insulation market share from industrial end users will witness around 5.2% CAGR through 2028 to reach a valuation of USD 5.2 billion. One of the major driving forces behind the segment growth is the gradual expansion of the industrial sector in developing countries. Continuous increase in purchasing power and expanding global trade is bolstering the development of industrial units which require efficient wall and roof insulations.
Middle East and Africa (MEA) region held nearly 6.52% share of global building thermal insulation industry in 2021 in terms of volume, and could surpass USD 2 billion in valuation by 2028. The construction sector in the region has grown at a rapid pace over the past decade, with focus on sustainable materials for building gaining traction in recent times. This trend will augment the use of more energy efficient insulating materials. Further, Latin America building insulation market size is anticipated to expand at around 3.7% CAGR over 2022-2028.