Building Thermal Insulation Market Size To Hit US$30.6 Billion By 2027 | Exhibit A CAGR Of 4.5% (2022-2027)

Date

10/26/2022 1:32:11 AM

(MENAFN- EIN Presswire)

Market Research Reports, Business Consulting Services & Analytics

An increase in construction activities are most likely to increase demand for building thermal insulation market.

HYDERABAD, TELANGANA, INDIA, October 26, 2022 / / -- IndustryARC, in its latest report, predicts that the size is forecast to reach US$30.6 billion by 2027, after growing at a CAGR of 4.5% during the forecast period 2022-2027. During building construction, cladding material is primarily used in order to provide a specific degree of thermal insulation and weather resistance along with improving the appearance of buildings. According to recent insights from the World Cement, the global construction industry output increased by 5.7% in 2021. An increase in construction activities along with increasing consumer preference towards the roof and wall insulation act as major drivers for the market. On the other hand, health risks associated with the use of thermal insulation products may act as a major constraint for the market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the building thermal insulation market highlights the following areas -

Mineral Wool held the largest share in the Building Thermal Insulation Market in 2021. Its wide range of characteristics, along with its high thermal insulation, noise insulation, and compressive strength made it stand out in comparison to other types of thermal insulation materials in the market.

Thermal insulation offers a wide range of benefits such as reduced energy usage, fire resistance, improved indoor air quality, prevents moisture condensations, and offers eco-friendly solutions which makes them ideal for use in the building & construction sector.

Asia-Pacific dominated the Building Thermal Insulation Market in 2021, owing to the increasing demand for thermal insulation from the building & construction sectors of the region. For instance, in October 2021, the MoC (Ministry of Construction) of Vietnam proposed around 266 residential housing projects across the country which are scheduled to be completed from 2022 to 2025.

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Segmental Analysis:

Building Thermal Insulation Market Segment Analysis – By Material Type: Mineral Wool held the largest share in the Building Thermal Insulation Market in 2021 and is expected to grow at a CAGR of 4.6% between 2022 and 2027, owing to its increasing demand due to the characteristics and benefits it offers over other types of thermal insulation materials.

Building Thermal Insulation Market Segment Analysis – By End-Use Industry: The residential construction held the largest share in the Building Thermal Insulation Market in 2021 and is expected to grow at a CAGR of 4.7% between 2022 and 2027, owing to the increase in construction of residential buildings across the globe.

Building Thermal Insulation Market Segment Analysis – By Geography: The Asia Pacific held the largest share in the Building Thermal Insulation Market in 2021 up to 30%. The consumption of thermal insulation is particularly high in this region due to its increasing demand from the construction sector.

Competitive Landscape:
The top 5 players in the building thermal insulation industry are -
1. BASF
2. Atlas Roofing Company
3. Cellofoam North America Inc.
4. DuPont
5. Knauf Insulation

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Similar Reports:

A. Thermal Insulation Coatings Market

B. High Temperature Insulation Materials Market

Venkat Reddy
IndustryARC

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