Building Thermal Insulation Market Size By Material (Wool Insulation, Plastic Foams), By Application (Wall, Roof, Floor), By End-Use (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Russia, Spain, China, India, Japan, Australia, Indonesia, Thailand, Malaysia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Published Date: Jun 2017 | 200 Pages | Report ID: GMI1755 | Authors: Vitika Verma, Amit Rawat Report Format: PDF

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Industry Trends

Building Thermal Insulation Market size was over USD 25 billion in 2016 and will surpass 10 billion square metres by 2024.

U.S. Building Thermal Insulation Market Size, By End-Use, 2016-2024 (USD Million)
U.S. Building Thermal Insulation Market Size, By End-Use, 2016-2024 (USD Million)

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Growth in construction industry along with increasing consumer awareness towards energy conservation will drive building thermal insulation market growth. Global construction spending was over USD 7.5 trillion in 2016 and will surpass USD 15 trillion till 2024. China, U.S. and India together account for over 55% of the overall construction spending in 2016.

Reduced carbon footprints, high energy saving, and easy product availability are key factors positively influencing building thermal insulation demand. Heat loss through roofs and external walls in existing buildings account around 70%. Benefits such as limited energy consumption while maintaining room temperature will remain key factors fuelling product penetration.

High adoption of International Energy Conservation Code (IECC) since 2012 particularly in the U.S. has encouraged the product scope in construction industry. Further, government regulations pertaining to limitation on greenhouse gas emission and reduce energy consumption is projected to fuel building thermal insulation market growth.

Technological advancement in multi chamber profiles along building thermal insulation including double or triple insulated glass will fuel the industry growth. High durability, compressive strength, moisture sensitivity, ease of installation, along with better conductivity are key properties stimulating the product demand.

Stringent regulations including European Energy saving regulations (EnEV) standards will support the business growth. Financial aids including low interest loans along with other governmental support including short-term payback period of 2 to 4 years through energy cost savings will propel industry demand.

However, fluctuating crude oil prices influencing the plastic foam usage may hamper the industry demand. Increasing health concerns including prolonged exposure to polyurethane foam leading to asthma, and breathing problems may restrain building thermal insulation market.

Building Thermal Insulation Market, By Material

Wool insulation accounted for over 50% of building thermal insulation market share in 2016. Increasing product demand from residential and commercial buildings will drive the industry growth. Blankets & sheets are the widely used products with temperature sustaining capacity up to 4100 C and thickness varying from 25 to 150 mm.

Expanded polystyrene (EPS) material will observe over 4.0% CAGR up to 2024. Process ability, durability, and lightness are major superior properties driving the industry growth in the segment. Higher R-value (low conductivity) of the material makes it suitable to be used in lower quantity as compared to its counterparts for similar thermal resistance.

Polyurethanes market was valued over USD 1.8 billion in 2016. Low thermal conductivity of polyurethane foams is the key factor enhancing the product adoption. Availability of wide range designs, substrates and processes due to its versatility is facilitating product demand.

Building Thermal Insulation Market, By Application

Roof insulation market share is projected to witness around 4% growth up to 2024. Stringent government regulations particularly in the developed countries along with shifting trend towards flat roofs in commercial buildings will propel the industry growth.

Floor accounted for more than 19% of the overall demand in 2016. Rapid urbanization coupled with increasing construction spending will create positive outlook for the product scope in the forecast period.

Wall application was worth over USD 12.2 billion in 2016. Necessity to enhance energy efficiency and weather proofing accompanied by stringent construction standards will drive the product demand. High heat transfer rates accounting for 35% in walls, 25% in roofs and 15% in floors will drive the industry growth.

Building Thermal Insulation Market, By End-Use

Residential segment accounted for more than 56% of building thermal insulation market share in 2016. Rising population, increasing preference for nuclear families along with high consumer spending will provide positive outlook for the industry growth. Further, consumer awareness associated to reducing carbon footprints and energy savings will support product penetration.

Commercial sector will witness gains over 4% up to 2024. Expansion in commercial spaces including shopping malls, convenience stores, and grocery stores will enhance the revenue growth. Necessity for temperature maintenance in commercial shops with centralized air conditioning and insulating materials to provide comfort shopping experience for customers will trigger the demand. Rising demand from manufacturing facilities along with renovation of existing structures are the supporting factors for the product demand.

Building Thermal Insulation Market, By Region

Europe accounted for more than 45% of the overall building thermal insulation market in 2016. Stringent regulations by EnEV, REACH and European Commission are promoting product demand as a part of energy conservation initiative. Germany is the substantial contributor of the market share owing to its well-established automotive industry with giant players including Audi, BMW, and Volkswagen.

Asia Pacific will observe over 4% CAGR in terms of revenue up to 2024. Expansion in construction industry mainly in China, Japan, and India attributes for notable growth in the region. Rising demand for temperature barrier in commercial as well as residential construction will drive the demand.

Increasing government spending on construction particularly in Japan and China to improve commercial and public infrastructure will fuel the product penetration. China construction industry was valued around USD 1.5 trillion and is projected to grow by 4.5% annually till 2020.

MEA, led by Saudi Arabia and UAE market is anticipated to value over USD 320 million by 2024. UAE was third most attractive country for commercial infrastructure spending in 2016.  Increasing adoption of energy efficient technologies for reducing the greenhouses gases, hot weather conditions and enhance better business environments will support product development.

Competitive Market Share

Global building thermal insulation market share is fragmented with key industry manufacturers including Saint-Gobain, BASF Polyurethanes, Kingspan Group, CertainTeed, Huntsman International, Johns Manville, Owens Corning, and Dow Building Solutions

The industry registered a notable growth in past five years, mergers, joint ventures and collaborations are the key strategies adopted by the industry players. The market is moderately price sensitive due to high demand for the materials. Imposition of new energy efficiency and construction regulations will increase competition amongst existing industry participants.

Industry Background

Building Thermal Insulation Market Segmentation

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Government regulations including American Society for Testing & Materials (ASTM) specify and evaluate the materials and methods that are used to reduce heat transfer. ASTM C553-13 is specification for mineral fibre products in commercial & industrial applications. It covers the classification, composition and physical properties of mineral fibre. Its classification is based on maximum usage of temperature, conductivity, surface burning characteristics and water vapour sorption.  It restricts the use of asbestos in raw materials. ASTM C665-12 is specification for mineral fibre products for light frame construction. It covers the composition and physical properties of mineral fibre on ceilings, floors and walls in light frame construction and manufactured housing.



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