Building Thermal Insulation Market (By Product: Glass Wool, Mineral Wool, XPS, EPS, Others; By Application: Walls, Roof, Floor; By End Use: Commercial, Residential) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Category : Construction and Manufacturing | Delivery Format : PDF | Status: Published | Pages : 190


According to Acumen Research and Consulting, the global building thermal insulation market size is expected to reach around US$ 40 billion by 2026 with rising CAGR of around 4.5% throughout the forecast period 2019-2026.

The method of reducing heat transfer between neighboring environments is thermal isolation with indoor maintenance of the ambient temperature. The thermal insulation in buildings contributes to reducing the carbon footprint, as it uses less energy to maintain a temperature and restricts heat transmission to the external climate. The outside temperature is less affected by the thermal insulation of houses and buildings. Thermal insulation in buildings may be done with different materials, including fibreglass, plastic foam and mineral wool, including cotton slag, wool slag, etc. Foamed materials are polystyrene, polystyrene extruded, polyurethane and other plastic forms.

The report provides analysis of global Building Thermal Insulation market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Dynamics

Growth is expected to result in increased residential and commercial use of the product to decrease overall energy costs, coupled with an increased awareness of energy conservation. Favorable regulations due to the reduction in overall energy use will probably be a key driver of the market. Heat, ventilation, and air conditioning (HVAC) dependence is reduced by thermal isolation which reduces overall consumption of energy, which is expected to benefit growth. U.S. accounts for North America's largest share. Different initiatives, such as the WAP, which focus on large-scale product adoption in households with little revenue, are expected to play a pivotal role in driving growth.

Favorable building codes in the United States and Canada, coupled with the establishment of the Leiter Services for Energy and Environmental Design (LEED) and the United States energy certification agencies. A positive impact on demands for thermal insulation for buildings is expected from the Green Building Council (USGBC). However, due to its low biodegradability and carcinogenicity, stringent regulations imposed on the use of foamed plastics by the U.S. Environmental Protection Agency (EPA) could adversely impact growth on the market.

During the forecast period the environmental impacts of insulation materials are likely to change the industry's focus on developing environmentally friendly products. Moreover, increasing plastic foam prices are expected to adversely affect industry growth and lead to alternative products development. Due to the strict regulations governing conventional products like plastic foams, recyclable isolation is becoming more popular. Greater preference of homemakers, architects and companies for green, biodegradable and recycular products will increase the risk of substitutes on the market over the forecast period because of increasing environmental awareness.

Product Outlook

Due to its excellent thermal insulation properties and its long service life, expanded polystyrene (EPS) is likely to show the chief CAGR of 5.0% for revenues over the projected period. Furthermore, due to its non-toxic, rotary, and recyclable properties, an increasing preference for the product is expected to boost growth. Extracted polystyrene (XPS), due to its ability to reduce humidity-based damage, water resistance, and energy savings, is estimated to show significant growth over the period forecast. It is further expected to boost growth through its ability to inhibit fungal or microbial growth in isolated areas. Mineral wool insulation accounted for an estimated 12.3% market share in 2018. Due to superior product features including fire safety, heat barriers, ecological compliability and dimensional stability, it is projected to grow significantly over the predictive time period. The growing use of mineral wool is expected to lead to growth during the forecast period in thermal barrier applications. Due to the growing penetration of products in North America, other products such as aerogel, cottonwool and wool slag should register moderate growth over time. Furthermore, an increasing preference for thermal insulation construction is estimated to stimulate growth as an alternative to foamed plastic insulation.

Application Outlook

Roof appliances accounted for over 35 percent of the market in 2018 and are forecast to experience substantial CAGR in the forecast period, as heat diffusion from through sunrays through the roof is increasing. Furthermore, the number of single housing units will increase market growth during the forecast period. In 2018 Wall application led the thermal insulation market for buildings and, due to the increasing use of the product on exterior and inland facilities, is estimated to increase by 4.9 percent in terms of revenue during the forecast period. In addition, increased product penetration is expected to boost industry growth for insulation of cavity walls. Due to the increasing demand to reduce energy costs of the HVAC application, moderate growth is projected over the projected time period. Appliances in flooring, including garage, basement, cantilever and space are found on thermal insulation. An increased product penetration is expected to fuel market growth for floor isolation in extremely cold regions.

End Use Stance

Due to high growth in single unit housing, combined with renovation and reinsulation of old houses, residential construction is estimated to be at the top level at 5.0 percent during the forecast time period. Moreover, there is projected growth in the activities of multi-family building to support market growth. Approximately 50 per cent of 2018's total revenue was in the commercial construction sector. The growth over the forecast period is expected to be complemented by increased energy efficiency of commercial and public buildings due to high energy costs resulting in increased maintenance costs.

Regional Stance

Europe is the largest share of the market in 2018, with more than 35 %, and the main market is expected to remain by 2026. Initiatives to promote thermal isolation as a means of energy conservation are expected to help regional growth, by registration, evaluation, authorisation and limitation of chemical (REACH) and the European Commission. The boom in residential and commercial building operations in North America, combined with the application of strict green building codes, are expected to help growth by reducing energy consumption per structure. Additionally favorable government regulations are expected to boost growth over the forecast period with regard to the product for residential as well as commercial structures. The region's increasing construction activities are expected to achieve the highest level of growth due to the growing population demand in Asia Pacific. China, due to the different government efforts to improve its public infrastructure, is estimated to account for the largest share in the region. In Central and South America, political and economic instability is expected to adversely affect regional market growth. The government's efforts to improve the economic situation, however, are expected to increase growth in the near future.

Market Segmentation

Global Building Thermal Insulation Market, By Product

  • Glass Wool
  • Mineral Wool
  • XPS
  • EPS
  • Others

Global Building Thermal Insulation Market, By Application

  • Walls
  • Roof
  • Floor

Global Building Thermal Insulation Market, By End Use

  • Commercial
  • Residential

Global Building Thermal Insulation Market, By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa (MEA)

The market research study on “Building Thermal Insulation Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Building Thermal Insulation market segments with market dynamics and their impact. The report also covers basic technology development policies.

The report provides an analysis of the latest industry trends from 2015 to 2026 in all sub-segment segments and forecasts revenue and volume growth on the global, the regional and country levels. ARC has divided the global market report of medical oxygen concentrations on product, application, technology and region for this study.

Key Players & Strategies

Market players focus on increasing their share by means of fusions and acquisitions. In order to increase their product portfolio by developing cost effective products with improved properties in the industry participants are focused on research and development activities. Manufacturers also strive to expand their production capacity to meet the rising demand for the product. In most application segments, the market is mature and has experienced slow but stable growth. Due to the high demand for insulating materials, the market is highly price sensitive. New constructions and codes of energy efficiency implementation will probably lead to high industry rivalry. Some of the key players in the market are Armacell, Certain Teed, Johns Manville, Saint-Gobain, Dow Building Solutions, Huntsman International, Owens Corning, BASF Polyurethanes, and Kingspan Group.

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