Due to the rapid surge in the construction activities owing to proliferating urbanization trends, the worldwide Building Thermal Insulation Market will procure massive proceeds over the coming years. According to the United Nations, about 68% of the world’s population is likely to reside in urban areas by 2050 – signifying the addition of 2.5 billion people to the foray. A substantial proportion of this increase is anticipated to take place in Asia and Africa. It is thus rather overt that the adoption of advanced insulation materials to build and manage urban spaces will become vital in the years to come, paving the way for the expansion of building thermal insulation industry.
Aided by advancements such as enhanced thermal properties, excellent soundproofing, and easy installation methods, the global building thermal insulation market is expected to cater to widespread demands more often than not. Additionally, growing efforts and investments to build energy efficient infrastructures to minimize carbon footprint, enhance thermal comfort and more, will also contribute towards industry expansion.
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Powered by the rapidly increasing focus towards curbing energy consumption in the residential and commercial spaces, building thermal insulation market has come to chart out an extremely profitable growth path lately. It is no secret that heating and cooling operations account for a large share of total energy demand in the residential, commercial and industrial sectors. In the EU alone, buildings and industries are slated to account for half of region’s energy consumption for heating and cooling purposes. Estimates claim that by 2030, the requirement of energy for cooling buildings is expected to rise by 72%.
Major building thermal insulation manufacturers are
- Kingspan Group
- Huntsman International
- Knauf Gips KG
- Dow Chemical Company
- Johns Manville
- Owens Corning
Building Thermal Insulation Market, By Application:
- Wall insulation
- Internal wall
- External wall
- Air cavity wall
- Roof insulation
- Flat roof
- Pitch roof
Building Thermal Insulation Market, By End-Use:
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The above information is provided on a regional and country basis for the following (changes as per report):
- North America
- Asia Pacific
- Latin America
- South Africa
Rapid technological advancements have also led to the development of novel insulating materials that could reduce heating and cooling loads in buildings and potentially lower energy consumption. For instance, building walls equipped with phase change materials (PCM) offer improved energy savings, peak space cooling, and enhanced thermal comfort in occupied spaces. Globally renowned company, Panasonic, boasts of a vacuum insulation panel (VIP) technology that is slated to offer one of the highest levels of insulation performance along with extremely low thermal conductivity. As companies work to incorporate advanced products in the mainstream, building thermal insulation market is likely to accrue commendable profits in the years to come.
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