Global Building Insulation Materials Market is valued at USD 27120.2 Million in 2020 and is expected to reach USD 36906.9 Million by 2027 with a CAGR of 4.5% over the forecast period.
Global Building Insulation Materials Market: Global Size, Trends, Competitive, Historical & Forecast Analysis to 2021-2027, Increasing supportive government regulations on building insulations and highly increasing residential sector across the globe are anticipated to drive the growth of the Global Building Insulation Materials Market.
Building insulation materials are nothing but the building materials that form the thermal covering of a building or reduce heat transfer. Wool, fiberglass, rock wool, polystyrene, polyurethane, and goose feather are examples of common insulating materials. These materials are poor heat conductors and hence excellent thermal insulators. Heat flow resistance is provided by building insulation materials. The lower the customers' heating and cooling expenses are, the greater heat flow resistance the insulating material provides. Insulating a building properly not only lowers heating and cooling expenses but also enhances comfort and the visual appeal of the structure. Insulation materials that are currently in use operate by slowing conductive and convective heat movement.
The usage of building insulation materials in a variety of applications, such as roofs, floors, and walls, may offer the building insulation materials market strong development prospects. Due to global population expansion, the industry need will be fueled by the rapid creation of sustainable urban projects based on smart space usage in individual residential units. Construction planning procedures have evolved and altered considerably in a relatively short period of time by the end of the nineteenth century. New construction materials (cast iron, glass structures, concrete, and steel) appeared, and structural systems were developed using calculative methods rather than empirical ones.
The global building insulation materials market is severely impacted by the Covid-19 pandemic. COVID-19 global outbreak has resulted in a drop in economic growth due to a drop in consumer expenditure as well as company closures. The coronavirus illness is spreading throughout the world, affecting many industries and almost every area of the supply chain, comprising the construction industry. Construction activity has been suspended in a number of regions, countries, towns, and states. Owing to stringent rules and regulations applied by the government, the availability of raw materials, supply chain, transportation was stopped across the world. These factors are negatively affecting the building insulation materials market globally.
Global building insulation materials market report is segmented on the basis of type, application, insulation type, end-user industry, and region & country level. Based upon the type, the market is divided into fiberglass, mineral wool, cellulose, polyurethane foam, polystyrene, and other insulation materials. Based upon application, global building insulation materials market is divided into wall insulation, underfloor insulation, ceiling/roof insulation, and window insulation. Based upon insulation type, global building insulation materials market is divided into bulk and reflective. Based upon the End-user industry, global building Insulation materials market is divided into residential and non-residential.
The regions covered in global Building Insulation Materials Market report are North America, Europe, Asia-Pacific, Latin America, and the Rest of the World. On the basis of country level, the market of global Building Insulation Materials Market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some of the key players for the global Building Insulation Materials Market are
Increasing supportive government regulations on building insulations, the rising popularity of recyclable insulation, and increasing urbanization and the shift toward mounting private-partnership projects are some of the factors contributing to the growth of the building insulation materials market globally. The highly increasing residential sector across the globe is one of the major factors booming the building insulation materials market growth over the forecast period. Insulation of residential buildings is gaining acceptance due to its architectural and energy efficiency benefits. For instance; in China, residential investment was cultivated by almost 13.9% during the first eleven months of 2019, getting CNY 9,707.1 billion. The zone under residential construction throughout the period was noted to have reached nearly 6,276.73 million square meters, demonstrating a 10.1% growth. Also, the construction sector in Germany is accounting for approximately 3.3% of the GDP. Expanding residential sector is relatively increasing the construction of many buildings across the world. Hence, this is estimated to enhance the building insulation materials market growth during the forthcoming years.
In addition, rising investment in the field of building insulation materials by the number of small and key players is another factor supplementing the market growth. Along with its several outstanding beneficial factors, the demand, as well as preference for building insulation materials, is widely enhanced among people. For instance, Owens Corning announced the acquisition of vliepa GmbH in July 2021. This mixture has improved the global nonwovens portfolio of the company to hasten growth and strengthen offerings to building and construction markets. Also, Paroc became one of the leading companies in Finland to unveil a recycling system for stone wool in September 2020. Such kinds of advancements from various regions of the world are also augmenting the market growth.
However, fluctuating supply and prices of raw materials regarding building insulation materials may hamper the market growth. Despite this, the rising utilization of recycled materials in thermal insulation materials produce will generate profitable market opportunities for the further growth of the global building insulation materials.
On the basis of region, North America is expected to dominate the global building insulation materials market within the forecast period due to the increasing investment by major players in building insulation materials, and the growing residential sector in this region. The construction industry in the United States is the largest and extremely booming all across the world. For example; according to the American Institute of Architects, non-residential buildings across the region expanded their investment through 2020. Along with urbanization, the construction industry is climbing in North America which means the construction of several buildings in this region is highly enhancing. This results in an increase in the requirement for insulation materials used for constructing buildings. These insulation materials not only lower the heating and cooling expenses but also improve comfort and the visual appeal of the structure. Due to its tremendous beneficial factors, the demand for building insulation materials is ultimately surging. Therefore, this factor is aggressively fueling the building insulation materials market growth.
The Asia Pacific is anticipated to grow at a faster pace the global building insulation materials market due to its developing economies. The rising urban population and cumulative construction activities in Asian countries are the leading factors fueling the building insulation materials market growth in this region. Widely expanding urban population across the Asian countries is significantly providing an opportunity for investors and developers to adopt innovative building technologies and collaborations in order to accelerate development. As the urban population rises, the need for comfortable and well-insulated houses also increases.
|2015 - 2020
|2021 - 2027
|Market Size in 2020:
|USD 27120.2 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2027:
|USD 36906.9 Million
|Tables, Charts & Figures:
|Building Insulation Materials Manufacturers
|Byucksan Corporation, Rockwool International, Syntheon LLC, Kingspan Group Plc, Paramount Glass Mfg Co Ltd, Johns Manville Corporation, Bayer MaterialScience, Nitto Boseki Co. Ltd, Saint-Gobain Corporation, Uralita SA, Beijing New Building Material, and BASF SE (Parent). and others.
|By Type, By Application, End-user Industry, By Insulation type
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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