Building Thermal Insulation Market Snapshot And Growth Prospects Till 2025

Building Thermal Insulation Market Snapshot And Growth Prospects Till 2025

“Global building thermal insulation market was valued at about USD 24.4 billion 2015. It’s been estimated to develop at a CAGR of approximately 4.2% during the forecast period.”

Global Building Thermal Insulation Market was valued at about USD 24.4 billion 2015. It’s been estimated to develop at a CAGR of approximately 4.2% during the forecast period. Rising demand for thermally insulated buildings in residential as well as non-residential sector so as to minimize the energy costs along with the growing awareness towards energy consumption is anticipated to drive the market growth for the products.

Strict government regulation, especially in developed countries, is expected to support the industry growth shortly.

Favorable regulatory policies for the implementation of building thermal insulation materials are the key factors estimated to boost the European market. The increasing demand in China is most likely to push the Asia Pacific region to become the fastest growing areas. Furthermore, rising disposable income, industrial output and rapid urbanization in Asia Pacific have boosted the need for improved infrastructure in the region.

Government policies and initiatives to cut down the greenhouse gas emissions coupled with rising construction spending is expected to propel the industry growth in the region.

U.S is anticipated to emerge as the largest sector of the industry in the North American region. Government bodies like the Weatherization Assistance Program i.e. WAP pay attention towards the implementation of thermal coverings on a large scale in the low-income homes; this has played a very crucial role in splurging the North American market. Domestic demand of the product is anticipated to drive the market growth. With almost diminished dependency on export, this region is expected to pay severe attention towards the investments and trade in their home market.

Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/building-thermal-insulation-market/requestsample

Product Insights Glass wool is the largest product segment as well as witnesses the leading penetration in the market, and also it is estimated to continue being the largest segment shortly. Glass wool being the low fire hazardous material has experienced wide acceptance in the industry. It’s easy to install procedure with DIY tools has facilitated the product to penetrate the market.

Browse Full Research Report @ https://www.millioninsights.com/industry-reports/building-thermal-insulation-market Expanded polystyrene or EPS is another product which is expected to develop as the fastest emerging product segment in the industry. EPS has already established its popularity in Europe, and it now has the huge demand in North America as well. The product is famous for its high thermal insulation nature i.e. R-value. It is required in small numbers with respect to traditional products. EPS is manufactured from non-renewable materials, which stands as a major challenge to its growth.

Application Insights Wall insulation accounts for the highest market share and is anticipated to dominate the demand for the segment over the forecast period. Large wall surface area is the main reason for its market penetration.

Thermal paddings are used for insulating interior as well as exterior walls. Walls are anticipated to be the leading application segment as well as it is estimated to have rapid growth over the forecast period.

Roof insulation is expected to gain popularity and emerged as the second largest application segment in the industry. A roof is most likely to be a primary source of heat penetration as sunrays fall directly on to a roof and hence it needs proper insulation to retain ideal temperature. Roof application segment is estimated to develop at a CAGR of about 3.8% over the forecast period.

End-Use Insights In 2015, about 50% of the total global market demand was for the residential construction segment and emerged as the largest segment. Residential construction is anticipated to increase by over 0.85% by 2025 owing to rising thermal padding demand in residential buildings in the account to cut down the energy consumption.

In, 2015 non-residential construction segment accounted for around 49% of total global market share as per revenue. Rising awareness towards energy efficiency in public and commercial buildings owing to high energy costs that ultimately leads to high maintenance costs is anticipated to further drive the market growth over the forecast period.

Regional Insights Asia Pacific is expected to witness a fast growth, and it is estimated to occupy 26.4% of total market share. The regional growth is categorized by high thermal barrier demand in commercial and public buildings. The governments of the countries such as India, Japan, and China have been raising their construction expenditure to enhance commercial and public infrastructure. These trends combined with energy conservation wits to cut down greenhouse gas emissions are projected to propel the Asia Pacific market growth during 2016 to 2025.

Europe is regulated by strict government policies under REACH. Moreover, the European Commission takes initiatives to support energy conservation strategies associated with thermal insulation are anticipated to support growth. Rising costs for energy and increasing awareness related to benefits of thermal paddings among consumers are expected to impact positively on the market growth regionally. The region is projected to continue being largest market for making thermal insulation materials.

Competitive Insights Major players in the industry include Owens Corning Corp., CertainTeed Corporation, BASF Polyurethanes, Dow Building Solution, Saint-Gobain S.A., Huntsman International LLC, John Manville Corporation, etc.

The market is matured and hence can be treated as a stable provider. The industry has experienced slow but steady growth in various application segments. The product is in demand in this region and thus the market is price sensitive. Execution of energy efficiency programs and new construction activities are considered to result in industry rivalry.

See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/chemicals-and-materials

Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com

Global Headquarters Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com

Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184