Johns Manville Corporation (US), Saint-Gobain S.A. (France), BASF SE (Germany), Kingspan Group plc (Ireland), Knauf Insulation, Inc. (US) are the Renowned Players in Building Thermal Insulation Market - Report by MarketsandMarkets™

According to recent research "Building Thermal Insulation Market by Material (Glass Wool, Stone Wool, Polystyrene), Application (Flat Roof, Pitched Roof, External Wall, Internal Wall, Cavity Wall, Floor), Building Type (Residential, Non-residential) - Global Forecast to 2022", published by MarketsandMarkets™, The building thermal insulation market size was USD 23.89 Billion in 2016, which is projected to reach USD 29.62 Billion by 2022, at a CAGR of 3.65% from 2017 to 2022.

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The building thermal insulation market size is projected to reach USD 29.62 billion by 2022, at a CAGR of 3.65%, from 2017 to 2022 in terms of value. Building thermal insulation materials are used to reduce the amount of power required to heat or cool a house. They minimize the amount of heat that escapes during the winter and limit the hot summer air penetrating into the house. Building insulation is the most cost-effective measure in climates that have a wide range of annual average temperatures. The major factors that are driving the building thermal insulation market include the regulations for reducing greenhouse gas emissions, growth in green buildings, stringent regulatory environment, and provision of rebates and tax credits.

Based on material type, the building thermal insulation market is segmented into glass wool, stone wool, plastic foam, and others. Glass wool is expected to be the fastest-growing segment, in terms of value, from 2017 to 2022. Glass wool usually contains 95% to 96% of inorganic materials and is lightweight, non-combustible, and corrosion-resistant. The demand for glass wool is increasing due to its increasing usage in masonry cavity walls, timber frame walls, roof rafter, flat roofs, loft, and suspended floor insulations. North America dominates the market for glass wool segment. This is due to the higher demand for non-flammable products in the region.

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Based on building type, the building thermal insulation market is segmented into residential and non-residential buildings. The non-residential building segment is estimated to witness the highest growth between 2017 and 2022. The increase in industrial activities and robust manufacturing in the US is estimated to drive the demand for building thermal insulation in non-residential building in North America. High business investments, especially in the UK, are estimated to drive the demand for non-residential buildings, which, in turn, will drive the demand for building thermal insulation in Europe. Healthcare facilities are expected to grow due to the aging population in China. This is estimated to drive the demand for building thermal insulation in non-residential buildings in Asia Pacific.

The major applications of building thermal insulation are wall insulation, roof insulation, and floor insulation. Roof insulation is expected to be the fastest-growing application segment from 2017 to 2022, in terms of value. About 25% of heat loss from a building is through roofs and insulating a roof is an effective way to reduce energy bills. Thus, the growing demand for energy efficiency drives the demand for insulating the roofs, globally.
Asia Pacific is estimated to be the fastest-growing market for building thermal insulation, in terms of value, from 2017 and 2022. The boom in the construction industries of China and India is estimated to drive the demand for building thermal insulation in the region. In addition, improved lifestyle, increasing income, and growing population help the building thermal insulation market to flourish in the region. The presence of major manufacturers, such as Rockwool International A/S (Germany), Saint-Gobain S.A. (France), and Beijing New Building Material (Group) Co., Ltd. (China) also drives the market for building thermal insulation in the region.

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Key market players profiled in the report are Johns Manville Corporation (US), Saint-Gobain S.A. (France), BASF SE (Germany), Kingspan Group plc (Ireland), Knauf Insulation, Inc. (US), Owens Corning (US), Huntsman Corporation (US), Rockwool International A/S (Germany), Firestone Building Products Company (US), Cabot Corporation (US), Dow Corning Corporation (US), Covestro AG (Germany), URSA Insulation, S.A. (Spain), Paroc Group Oy (Finland), Atlas Roofing Corporation (US), GAF Materials Corporation (US), Lapolla Industries, Inc. (US), Beijing New Building Material (Group) Co., Ltd. (China), NICHIAS Corporation (Japan), Fletcher Building Limited (New Zealand), ODE Industry and Trade Inc. (Turkey), Aspen Aerogels, Inc. (US), Trocellen GmbH (Germany), Recticel SA (Belgium), and KCC Corporation (South Korea).

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