Building Thermal Insulation Market Size By Material (Open Cell Materials/Wool Insulation [Glass Wool, Stone Wool], Closed Cell Materials/Plastic Foams [Expanded Polystyrene, Extruded Polystyrene, Polyurethanes]), By Application (Wall Insulation [Internal Wall, External Wall, Air Cavity Wall], Roof Insulation [Flat Roof, Pitch Roof], Floor Insulation), By End-use (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Nov 2020  |  Report ID: GMI1755  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 497   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Building Thermal Insulation Market size surpassed USD 27.87 billion in 2019 and will grow at over 5.3% CAGR from 2020 to 2026. Growing sustainability trends toward zero-energy in housing along with advancements in insulating residential buildings equipped with integrated PV panels and double-skin facade will enhance the market expansion. The rapid emergence of sustainable urban developments through smart utilization of space in specific residential units owing to high population growth across the globe will propel the industry demand.
 

The surging adoption rate of the International Energy Conservation Code (IECC) 2012 has stimulated product growth in the construction sector. Government policies & norms corresponding to energy conservation and limited GHG emissions will drive the building thermal insulation industry revenue.
 

Building Thermal Insulation Market
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Major factors, such as easy installation, high compressive strength, moisture sensitivity, better durability, and thermal conductivity will boost product penetration. Technological enhancements including double & triple insulated glass and multi-chamber profile will promote business growth.
 

Growing utilization of recycled materials in thermal insulation materials manufacturing will create lucrative market opportunities. Fiber glass used in thermal insulation material utilizes 50% recycled glass that depends on the manufacturers’ specific requirements. For instance, as per the North American Insulation Manufacturers Association, more than 1.2 billion kg of recycled glass was utilized in the manufacturing of thermal insulation for residential, industrial, and air handling in 2015.
 

Shifting trends toward performing whole-house simulation process using multiple combinations to ensure cost optimization will positively fuel the overall insulation market outlook.
 

Energy-efficiency requirements in buildings were regulated to counter poor insulation levels that result in health problems due to moisture or air infiltration. These regulations correspond to U-values and R-values of insulating materials intended to improve comfort in buildings. Energy-efficiency regulations in the developing countries of Asia seek to improve comfort and reduce energy consumption with compelling cooling or heating systems.
 

Stagnant growth in the Europe construction industry may pose a great challenge for building thermal insulation market. Increasing supply chain pressures in many parts of Europe have resulted in stunted growth of the regional construction sector. The lack of suppliers and skilled workforce have resulted in construction crisis.
 

Several companies in the Netherlands and the UK have filed for bankruptcy impelled by major losses in projects suffered as increasing supply costs. For larger construction companies, the shortage of sub-contractors & materials and lack of qualified labor have hampered their growth.
 

The COVID-19 pandemic has severely disrupted the business process of several industries across the globe. About 50 million cases has been officially recorded worldwide with India, the U.S., and Brazil constituting nearly half of the count. Industry players, such as Saint-Gobain, BASF SE, Owens Corning, Kingspan Group, and others, have extended production shutdown in highly impacted zones or in accordance with the lockdown declared by the Asian and European countries.
 

This has adversely impacted sales volume and revenue generation of all companies in the first quarter of FY2020. According to Owens Corning Q2 of 2020 report, the insulation segment of the company reported around 10% decline in sales revenue compared to Q2 of FY 2019.
 

Building Thermal Insulation Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 27.87 Billion (USD)
Historical Data for: 2014 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5.3% 2026 Value Projection: 31.01 Billion (USD)
Pages: 497 Tables, Charts & Figures: 578
Geographies covered (24): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, South Korea, Malaysia, Indonesia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa, Qatar, Kuwait
Segments covered: Material, Application, End-use, Region
Companies covered (21): BASF SE, Huntsman International, Johns Manville, Rockwool International A/S, Saint-Gobain, CertainTeed, Cellofoam North America, Atlas Roofing Corporation, Paroc Group, Knauf Insulation, LIXIL Group Corporation, Tasman Insulation New Zealand, Beijing New Building Material, GAF, Neo Thermal Insulation, Dow Building Solutions, Owens Corning Corporation, Kingspan Group, Lloyd Insulations, URSA Insulation, and Sika AG.
Growth Drivers:
  • Greenhouse gas emission reduction
  • Tough government carbon targets
  • Increasing demand for energy requirement
Pitfalls & Challenges:
  • Stagnant growth of construction industry in Europe
  • Lack of awareness

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The rising adoption of open cell insulation materials will propel consumption

The open cell building thermal insulation material market revenue valued at USD 14.6 billion in 2019 and is likely to grow at a decent growth rate of 5.6% through 2026. The open cell material is further divided into glass wool, stone wool, and others. The increasing adoption of thermal insulation material owing to its various benefits such as higher energy efficiency, biostability, carbon footprint reduction, incombustibility, and erosion protection will escalate the demand. The growing utility of glass wool in thermal barrier applications in commercial and public buildings will further promulgate market growth.
 

Rise in the consumption of stone wool material is attributed to its natural fire protection characteristics. Industry participants are continuously investing in R&D to develop efficient stone wool insulation.
 

Wall insulation to dominate application segment

The wall insulation application is projected to capture over 49.5% of the building thermal insulation market share in 2026. Wall insulation helps in reducing the cost and energy loss by trapping the heat inside the house during winter and restricting heat penetration in the house during summer.
 

This is generally done in three ways, i.e., insulation of internal face of the external walls, external surface of the external walls, and by filling up the air cavities between the masonry brick walls. There are many materials used to insulate the walls such as EPS, polyurethane foam, mineral wool, cellulose fibers, and sandwich panels.
 

Air cavity wall insulation slows down the transfer of heat through the wall by simply instilling the insulated material into the voids or cavities from outside the wall. This will help in reducing the cost and energy expenditure of the house along with carbon footprint by limiting the amount of greenhouse gases, such as CO2, that are been emitted from the house. Air cavity wall insulation creates a thermal barrier, which slows down the movement of heat out of the house.
 

Residential end-user will accommodate substantial building thermal insulation market share

Building Thermal Insulation Market Size

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The residential sector constitutes for around 55% of the global consumption in 2019. Shift in consumer preference, increasing purchase power of consumers, and energy-savings play a significant role in the adoption of thermal insulation products in the residential segment. A rise in nuclear families, rural to urban migrations, and building codes & regulations are factors, driving the residential building insulation market. An upsurge in prefabrication & modular construction projects, rising trends in home improvement & remodeling, and growing purchases of new homes by the millennials will further boost the market statistics.
 

Europe is anticipated to be the largest regional market

Building Thermal Insulation Market Share

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The Europe building thermal insulation market is set to cross above USD 12.9 billion revenue by 2026. Europe has been facing energy problems since decades and as a result has become one of the largest consumers of thermal insulators. depletion of natural resources, high carbon emission rate and climatic changes have forced EU to use eco-friendly construction techniques. This has also accelerated the growth of thermal insulations up to such an extent that few countries have made it mandatory.
 

Increasing purchases of apartments by millennials in several countries across the region along with shifting preferences toward modern renovation activities will provide a strong outlook for regional market expansion. Regulations and policies formed by several government bodies in different countries in Europe favoring zero-emissions of GHGs will enhance the overall industry growth.
 

The Energy Performance of Buildings Directive (EPBD) 2010/31/EU ensures that all new buildings comply with high-energy-performance standards and generate substantial proportion of their own energy through renewables after 2020.
 

New product development, joint ventures, and geographical expansion are prime strategies

The global building thermal insulation market share is moderately fragmented due to the presence of medium & large industry players operating in the comprehensive market. Product innovations, mergers & acquisitions, collaborations, joint ventures, supply agreements, and production capacity expansion are among the major strategies adopted by companies.
 

A new product or technology can enable manufacturers to minimize lead time and meet consumer expectations on quality & performance. For instance, in October 2018, Huntsman International announced to launch DaltoPIR insulation technology based on PIR-based foam insulation with excellent thermal, fire, and acoustic insulation properties. This will result in the enhancement of the panel processing time and expansion of the company’s product portfolio.
 

Other notable players operating in the industry include BASF SE, Huntsman International, Johns Manville, Rockwool International A/S, Saint-Gobain, CertainTeed, Cellofoam North America, Atlas Roofing Corporation, Paroc Group, Knauf Insulation, LIXIL Group Corporation, Tasman Insulation New Zealand, Beijing New Building Material, GAF, Neo Thermal Insulation, Dow Building Solutions, Owens Corning Corporation, Kingspan Group, Lloyd Insulations, URSA Insulation, and Sika AG.
 

This market research report on building thermal insulation includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million square meters and revenue in USD million from 2016 to 2026 for the following segments:

Market, By Material

  • Open cell materials/Wool insulation
    • Glass wool
    • Stone wool
    • Others (cellulose & aerogel)
  • Closed cell materials/Plastic foams
    • Expanded polystyrene
    • Extruded polystyrene
    • Polyurethanes
    • Others (phenolic foams & polyisocyanurate insulation)

Market, By Application

  • Wall insulation
    • Internal wall
    • External wall
    • Air cavity wall
  • Roof insulation
    • Flat roof
    • Pitch roof
  • Floor

Market, By End-use

  • Residential
  • Commercial
  • Industrial

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • South Africa

 

Frequently Asked Questions (FAQ) :

The global building thermal insulation industry revenue exceeded USD 27.87 billion in 2019 and is poised to expand at 5.3% CAGR through 2026 driven by the growing sustainability trends toward zero-energy in housing.
The open cell building thermal insulation material market revenue was USD 14.6 billion in 2019 and is projected to grow at 5.6% through 2026 due to its various benefits such as biostability, higher energy efficiency, incombustibility, carbon footprint reduction, and erosion protection.
As wall insulation helps in reducing the cost and energy loss, the segment is likely to capture over 49.5% of the building thermal insulation industry share through 2026.
The European building thermal insulation market revenue is projected to exceed USD 12.9 billion through 2026 owing to the region’s inclination towards using eco-friendly construction techniques.

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Premium Report Details

  • Published Date: Nov 2020
  • Pages: 497
  • Tables: 545
  • Charts / Figures: 33
  • Companies covered: 21
  • Countries covered: 24

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