Building thermal insulation market to grow at 4.5 % CAGR by 2025

Building Thermal Insulation Market Size, Industry Analysis Report, Regional Outlook (Americas, Europe, APAC and EMEA), Application Development status, Price Trend, Competitive Market Share & Forecast, 2019-2025.

Europe leads the building thermal insulation market accounting for over 45% of the industry share in 2018. Rising awareness of green construction, smart infrastructure, and IoT would drive the industry in Europe. Rapid increase in the renovation and retrofitting activities in the Western Europe will proliferate the demand from the residential sector. Moreover, the Energy Performance of Buildings Directive in Europe has set a minimum performance standard for new construction and major renovation in the structures for the installation of such shielding materials.

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Building Thermal Insulation Market size is estimated to surpass USD 35 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing penetration of sustainable construction materials owing to stringent government initiatives for saving electricity for minimizing the electricity loss and natural resources are among key factors driving the building thermal insulation market growth .

Shifting focus towards energy conservation, improved management of natural resources will propel the building thermal insulation market growth. Strong applications scope for reducing the fuel utilization, improving the energy consumption of the buildings while offering a conformable environment will positively influence the industry development. Rising consumer spending on the separate/private residence due to changing lifestyles towards nuclear families will drive product scope.

Increasing awareness to reduce greenhouse gas (GHG) emissions in conjunction with rising population will positively drive the industry growth. Favorable government policies pertaining to the development of housing sectors such as the Affordable Housing Institute (AHI) and Government led Energy Company Obligation Scheme (ECO) will escalate the product demand. However, increasing crude oil prices and lack of awareness regarding the benefits of the product may hamper the product price trend.

Roof segment will witness CAGR at over 4.5% up to 2025. Favorable government policies and schemes in terms of subsidies and tax benefits will steer the demand for the product in roof application. For instance, the Energy Efficiency and Conservation Authority (EECA) of New Zealand, under the Warmer Kiwi Homes scheme provide exemptions that cover around two-third of the cost of ceiling and underfloor areas to encourage the use of padding and renewable materials in the construction of buildings. Moreover, with the evolution of novel Chinese companies providing competitively priced roofing material, the demand from the roofing segment is expected to exhibit significant growth.

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Residential leads the building thermal insulation market accounting for over 55% of the industry share in 2018. Development in the whole house systems design approach to improve the overall energy efficacy for the new residential constructions will induce a positive effect on the overall market growth. Rapid growth in urbanization along with shifting trend toward nuclear families are among major factors propelling the industry growth.

Asia Pacific building thermal insulation market will witness CAGR of over 5.5% from 2019 to 2025. Rising disposable income, rapid urbanization and stringent government regulations for reduction of carbon footprint are among the key factors stimulating the growth of the product across the region. For instance, in 2006, the Ministry of Housing and Urban-Rural Development (MOHURD) under the Chinese government, introduced the Three Star Scheme to promote and regulate the green construction and reduce the environmental concerns in its cities.

Kingspan Group, Armacell, Saint-Gobain, Huntsman International, Knauf Gips KG, Dow Chemical Company, Johns Manville, Owens Corning, and BASF Polyurethanes are among major building thermal insulation manufacturers. Global industry share is fragmented with the presence of medium and large multinational corporations and regional players. The manufacturers are involved in product innovations, production capacity expansions, new product launches, mergers and acquisitions for gaining a competitive share. For instance, in April 2015, Dow Chemical Company collaborated with Honeywell to deliver a superior and sustainable appliance padding technology that would help in achieving energy efficiency targets.

Related news – https://www.marketwatch.com/press-release/building-thermal-insulation-market-report-2019-25-revenue-growth-forecast-by-product-material-industry-players-2019-05-31