Building Thermal Insulation Market: Future Trend and Growth Opportunities by 2026

Global building thermal insulation market is anticipated to depict a CAGR of 5.3% through 2026, having recorded a valuation of USD 27.87 billion in 2019. By 2026, the market is expected to hit a remuneration of USD 31 billion.

Collective emissions of about 50 billion tons of carbon dioxide almost every year, which is nearly 76% of the toxic gas emission worldwide, have compelled various governments to introduce strict norms and policies pertaining to significant reduction in these emission levels. Undeniably, this has offered a potential boost to the emergence of building thermal insulation concept.

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As per numerous studies and reports, building thermal insulation provides a high level of energy efficiency compared to that of conventional wooden framed and concrete constructions. In fact, believing the claims by the U.S Environmental Protection Agency, adding insulation to constructions can save up to 15 per cent on cooling and heating costs. Some of the well acclaimed and prominent insulation materials like ICF systems are generally used to reduce the requirements for active cooling and heating systems in tropical and semitropical regions.

This rise is primarily ascribed to the surging demand for structural insulation panels and thermal insulation sheets owing to numerous government initiatives for the reduction of carbon emissions. Economic slowdown amid the COVID-19 pandemic has, however, been responsible for decreasing construction activities, thus creating a challenge for building thermal insulation market participants.

In terms of application spectrum, it is quite overt that industrial segment would accrue phenomenal gains across the overall building thermal insulation market, courtesy- introduction of global initiatives for reduction of carbon emissions by enhancing energy efficiency and sustainability. As a matter of fact, it has been reported that the segment is all set to acquire a business share of 15 per cent over the projected time frame.

Building thermal insulation industry is diversified into vivid regions, out of which, the Asia Pacific region is touted to emerge as a revenue pocket for the overall market, subject to rapid urbanization and industrialization, in line with massive rise in government spending on infrastructure development. Apparently, need for eco-friendly building insulation products is also leading to an increased energy consumption, complementing the surging market growth graph. The Asia Pacific building thermal insulation market had acquired a revenue share of 20 per cent in 2019 and is estimated to grow profusely in the years to come.

Various industry players including BASF SE, CertainTeed, Johns Manville, Huntsman International, Rockwool International, and Saint-Gobain amongst others have been relentlessly working towards developing and introducing novel products in the global market via being engaged in acquisitions, partnerships, and collaborations. These market strategies have indeed enabled the companies to gain a competitive edge in the overall business ecology.

In a recent turn of events, BASF SE, Aspen Aerogels had in 2019 announced expanding their strategic agreement with inking an addendum to their exclusive supply of thermal insulation products. As per news reports, the addendum offer details of the production and distribution of new non-combustible and high performance thermal insulation product, an item that is said to hold features similar to that of SLENTEX.

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Some Point from Table of Contents:

Data Tables

TABLE 1    Building thermal insulation industry 360° synopsis, 2016 – 2026

TABLE 2    Global building thermal insulation market estimates 2016 – 2019 (Million Sq. Meters.) (USD Million)

TABLE 3    Global building thermal insulation industry estimates 2020 – 2026 (Million Sq. Meters.) (USD Million)

TABLE 4    Global building thermal insulation industry volume estimates and forecast by material, 2016 – 2019 (Million Sq. Meters)

TABLE 5    Global building thermal insulation market volume estimates and forecast by application, 2020 – 2026 (Million Sq. Meters)

TABLE 6    Global cork & natural rubber engineered compound market revenue estimates and forecast by application, 2016 – 2019 (USD Million)

TABLE 7    Global cork & natural rubber engineered compound industry revenue estimates and forecast by application, 2020 – 2026 (USD Million)

TABLE 8    Global building thermal insulation market volume estimates and forecast by application, 2016 – 2019 (Million Square Meter)

TABLE 9    Global building thermal insulation industry volume estimates and forecast by application, 2020 - 2026 (Million Square Meter)

TABLE 10    Global building thermal insulation industry revenue estimates and forecast by application, 2016 – 2019 (USD Million)

TABLE 11    Global building thermal insulation market revenue estimates and forecast by application, 2020 – 2026 (USD Million)

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