(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 09, 2024 (GLOBE NEWSWIRE) -- The "Global Building Thermal Insulation Market by Material (Glass Wool, Stone Wool, Plastic Foam), Application (Roof Insulation, Floor Insulation, Wall Insulation), Building Type (Residential, Non-Residential) & Region - Forecast to 2028" report has been added to ResearchAndMarkets's offering.
The building thermal insulation market is poised for steady growth, with a projected value of USD 37 billion by 2028, exhibiting a robust CAGR of 4.8% from its 2023 value of USD 29.2 billion. The comfort of building residents is a priority in modern construction. An even and comfortable interior temperature can be sustained all year round with the aid of proper thermal insulation. Green building focuses on eco-friendly methods. Moreover, building thermal insulation subsequently reduces greenhouse gas emissions by lowering energy usage.
Plastic foam segment is projected to be the fastest growing material of building thermal insulation, in terms of value, during the forecast period.
The plastic foam segment is the largest application in the building thermal insulation market in terms of value, in 2022. Plastic foam is lightweight and flexible enough to be molded and sculpted to meet a variety of construction requirements. Improved plastic foam compositions with improved fire resistance and thermal characteristics are continuously being developed by manufacturers. Plastic foam has a competitive price point and strong thermal resistance (R-value) when compared to certain other insulation materials.
Wall Insulation to be the fastest growing application for building thermal insulation market, in terms of value, during the forecast period
The building thermal insulation market is segmented into wall insulation, floor insulation, and roof insulation based on application. The wall insulation application segment led the global building thermal insulation market, in terms of value, in 2022 due to its versatile properties. Enhanced weatherproofing and soundproofing, improved building's thermal performance while reducing its CO2 emission are some of the properties that fuel the demand for wall insulation in building thermal insulation market.
Residential segment to be the fastest growing building type for building thermal insulation market, in terms of value, during the forecast period
The residential building type dominates the building thermal insulation market due to many factors. The dominance is due to the extensive applications of building thermal insulation in residential construction. It finds wide use in residential buildings for insulating walls, floors, roofs, and basements. This is a favorably chosen material that contributes to energy efficiency, comfortable indoor conditions, and adherence to building codes because of its outstanding thermal insulating qualities, moisture resistance, and structural support. The building thermal insulation market is also becoming increasingly popular in the residential buildings because of changing industry standards and regulatory pressure.
The report provides insights on the following: Analysis of key drivers (Stringent regulations to reduce green house gas emissions, Development of green buildings, Reduction in energy consumption and related cost, Rebates and tax credits, Stringent building energy codes), restraints (Fluctuation in prices of plastic foams, Availability of green insulation material), opportunities (High energy requirements), and challenges (Lack of awareness on building thermal insulation) Market Penetration: Comprehensive information on building thermal insulation offered by top players in the global building thermal insulation market Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the building thermal insulation Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for building thermal insulation across regions Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global building thermal insulation market Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the building thermal insulation market Impact of recession on building thermal insulation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 263 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $29.2 Billion |
| Forecasted Market Value (USD) by 2028 | $37 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
Plastic Foam Accounted for Largest Market Share in 2022 Wall Insulation to Lead Building Thermal Insulation Market During Forecast Period Residential Segment to Lead Building Thermal Insulation Market During Forecast Period Asia-Pacific to Witness Highest CAGR During Forecast Period
Premium Insights
Attractive Opportunities for Players in Building Thermal Insulation Market - Non-Residential Segment to Drive Market During Forecast Period Building Thermal Insulation Market, by Region - Asia-Pacific to Witness Fastest Growth During Forecast Period Europe Building Thermal Insulation Market, by Country and Material - Germany Accounted for Largest Market Share in 2022 Building Thermal Insulation Market, by Building Type and Region - Residential Segment Accounted for Larger Market Share in Most Regions Building Thermal Insulation Market, by Key Countries - UAE to Register Highest CAGR During Forecast Period
Market Dynamics
Drivers
Stringent Regulations to Reduce Greenhouse Gas Emissions Development of Green Buildings Reduction in Energy Consumption and Related Costs Rebates and Tax Credits Stringent Building Energy Codes
Restraints
Fluctuation in Prices of Plastic Foam Availability of Green Insulation Materials
Opportunities
Challenges
Lack of Awareness About Building Thermal Insulation
Industry Trends
Supply Chain Analysis Raw Materials Manufacturing Distribution Network Application
Key Stakeholders and Buying Criteria Trends/Disruptions Impacting Customer Business Ecosystem Analysis
Case Studies
Enhancing Community Well-Being: Wilmcote House's Thermal Efficiency Upgrade
Technology Analysis
Key Technologies
XPS Foam Technology Ecose Technology
Complementary Technologies
Air Sealing Reflective Roofing Materials
Companies Profiled
Kingspan Group PLC Knauf Gips KG Owens Corning Rockwool A/S Saint-Gobain SA BASF SE Dow Inc. Johns Manville Corporation Gaf Materials Corporation Cnbm Group Co. Ltd. Aspen Aerogels, Inc. Atlas Roofing Corporation Holcim Limited Huntsman International LLC Kcc Corporation Lapolla Industries, Inc. Nichias Corporation Recticel SA Ode Insulation Trocellen GmbH Ursa Insulation SA Sika Group Cellofoam North America, Inc. Neo Thermal Insulation (India) Pvt. Ltd. Lloyd Insulations (India) Limited
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Global Building Thermal Insulation Market
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