Global 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 Trends, Competitive Market Share & Forecast, 2019 – 2025
Published Date: May 2019 | Report ID: GMI1755 | Authors: Kiran Pulidindi, Hemant Pandey
Global Building Thermal Insulation Market size was valued at over USD 25 billion in 2018 and is anticipated to witness over 4.5% CAGR up to 2025.
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Increasing concerns pertaining to energy conservation in buildings coupled with rise in electricity costs have necessitated the demand for insulation materials across the residential, commercial and industrial buildings. Growing popularity of advanced construction materials among builders and contractors to ensure efficient energy consumption and meet the conservation norms will support the industry growth. Surge in structural reform projects across the developed regions including North America and Europe will positively influence the material penetration over the forecast timeframe.
Growth in the construction industry coupled with rising urbanization is among the key factors escalating the building thermal insulation industry size. Shifting trends towards upgrading the existing padding system sufficing the construction standards will support the industry growth. Customers are focusing on reducing the energy consumption bills with retrofitting the material in walls and attics. Increasing public-private partnership for new residential construction coupled with strict codes implemented by the government for reducing the industrial energy consumption will further support the industry growth.
Shifting focus towards accomplishing core competencies in a wide range of materials including EPS and XPS has urged the manufacturers to enhance materialization and development of optimum distribution channel for increasing their market share. For instance, in May 2015, Knauf Insulation announced to enhance its distribution channel by entering into a distribution agreement with Canada based material distributors CanWel Building Materials for the expansion of its sales and distribution network across the country.
Technological advancements such as excellent soundproof and enhanced thermal properties along with easy installation methods are propelling the material demand. Growing energy efficient green building construction to enhance work materiality in the offices, minimize carbon footprint and improvement in thermal comfort, etc. are few factors contributing to the industry expansion. Adoption of zero energy buildings and sustainable construction along with proliferating usage of recyclable padding material are among the key factors positively influencing the material penetration.
Favorable government policies and standards for improving the energy efficiency in the structures to prevent the loss of natural resources will proliferate the industry landscape. For instance, in December 2017, Ontario green home renovation program announced to offer the homeowners with thousands of dollars in rebates on completion of energy efficient renovations for enabling the house owners to hire contractors for obtaining rebates. However, lack of awareness pertaining to the advantages coupled with fluctuation in the raw material prices may hamper the building thermal insulation market size.
|Base Year:||2018||Market Size in 2018:||25 Billion (USD)|
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Forecast Period (2019 to 2025) CAGR:||4.5%||2025 Value Projection:||35 Billion (USD)|
|Pages:||500||Tables, Charts & Figures:||589|
|Geographies covered (24):||U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, South Korea, Malaysia, Indonesia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Qatar, Kuwait, South Africa|
|Segments covered:||Material and Region|
|Companies covered (21):||BASF SE, Guardian Building Products, Huntsman International LLC, Johns Manville, CertainTeed, Cellofoam North America. Inc, Atlas Roofing corporation, Neo Thermal Insulation (India) Pvt. Ltd., Owens Corning Corporation, Paroc Group, Dow Building Solutions, Knauf Insulation, Lixil, Rockwool International A/S, Saint Gobain S.A, Tasman Insulation New Zealand Ltd., Beijing New Building Material (Group) Co. Ltd., GAF, Kingspan Group, Lloyd Insulations (India) Limited, URSA Insulation|
|Pitfalls & Challenges:||
Building Thermal Insulation Market, By Material
Open cell materials accounted for more than 50% of the total industry share in 2018. Key benefits including lower cost, dimensional stability, biostability and exceptional thermal defence at both low & high temperatures have enabled wide scale use of these materials in critical air conduits, high-grade structures, ceilings, open spaces, attics, wall cavities, etc. Growing focus towards the use of recycling materials such as cellulose and aerogel along with the development of lightweight and fire-resistant materials will further augment the segment growth.
Closed cell materials segment is anticipated to witness significant gains over 4% by 2025. The material offers enhanced U-values and proves to be excellent in preventing water penetration and condensation hence is best suited for the external wall padding system. Excellent thermal resistance and physical properties along with superior resistance to moisture absorption will provide a positive outlook for XPS materials over the projected timeframe.
Building Thermal Insulation Market, By Application
China Building Thermal Insulation Market, By Application, 2025, (USD Million)
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Wall segment accounted for more than 45% share of the overall building thermal insulation market. Necessity for enhancement in weather proofing and energy efficiency coupled with stringent standards for commercial and residential construction will escalate the demand for the material. Furthermore, continuous padding provided by the material promotes uniform wall temperature, reduced moisture collection & convection and high heat transfer rates in walls, thereby propelling the business growth over the coming years.
Roof segment is anticipated to witness over 4.5% gains from 2019 to 2025. Stringent government policies and regulations, predominantly in the developed countries along with shifting trend towards the installation of flat roofs in the industrial and commercial structures is expected to propel the market size. Technological advancements have enabled the manufacturers to develop materials capable of counteracting the issues created by the dimensional constraints and temperature swings. Moreover, high thermal value and strength over conventional methods will be the key factor supplementing the industry growth.
Building Thermal Insulation Market, By End-Use
Residential end-use segment accounted for over 55% of the overall building thermal insulation market. Increase in the adoption of innovative construction solutions offering superior performance while enduring to the government regulations will propel the material penetration. Rapid urbanization, increasing preference of nuclear families along with the rise in the consumer spending on sustainable construction will provide a positive outlook for the industry growth. Moreover, increase in consumer awareness pertaining to electricity savings and reduction of carbon footprints will support material penetration.
Commercial end-use segment will witness gains at over 4.5% up to 2025. Expansion in commercial spaces including convenience stores, grocery stores, and shopping will enhance the segment growth. Increasing necessity for consistent temperature in commercial shops for providing a comfortable shopping experience to the customers irrespective of the outer weather in every climate is a key factor positively inducing material penetration rate.
Building Thermal Insulation Market, By Region
Europe accounted for more than 45% of the overall building thermal insulation demand in 2018. Growth in real estate investments among state and private sector coupled with rising demand for music studios, corporate workplaces, and sound quality auditoriums will positively influence the product demand. Rising awareness of green construction, smart infrastructure, and IoT would drive the industry in Europe. Stringent regulations imposed by the REACH, European Commission and EnEV to prevent the loss of natural resources as a part of the energy conservation initiative will augment the material demand.
Asia Pacific Building Thermal Insulation Market, By Country, 2025, (USD Million)
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Asia Pacific is expected to witness growth of more than 5.5% by 2025. Increase in the construction spending and high industrialization rates in emerging economies including India, Thailand, China, Indonesia, Malaysia, and Indonesia will boost the regional growth. Growing industrial sector coupled with attractive monetary policy is expected to drive construction spending across the region over the coming years.
Competitive Market Share
Global building thermal insulation market is fragmented due to the presence of medium, large regional and multinational players operating comprehensively. Key industry players include CertainTeed, Armacell, Kingspan Group, Saint-Gobain, Huntsman International, BASF Polyurethanes, Johns Manville, Dow Building Solutions and Owens Corning. New material launches, mergers & acquisitions, material innovation, and portfolio expansion are among the key strategies adopted by the industry participants for enhancing their share. For instance, in March 2018, Armacell and KÖPP announced the “Partnership for Excellence”. This would help in establishing long-term technology license and provide customers with high-quality materials. Other notable players include NICHIAS Corporation, Trocellen GmbH (Germany), Recticel SA (Belgium), Fletcher Building Limited, KCC Corporation, and GAF Materials Corporation.
Global building thermal insulation market is driven by rapid technological development and innovations across the construction sector. Industrialization and rising construction expenses in the emerging economies of China, India, Thailand, Indonesia, Malaysia, and the Philippines are have resulted in the need for better padding and infrastructure options for appropriate usage of limited energy resources. Moreover, increasing awareness for fire safety measures and thermal padding properties are gaining strong attention for non-combustible stone wool materials, thereby fuelling the insulation market share during the forecast timeframe. Developing economies such as Mexico, India, China, Brazil, and Indonesia will substantially impact the material development owing to a larger customer base coupled with increasing preferences for modern structure installations.
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