Thermal Insulation Market Demand for Insulation Techniques Increased in Global Market

According to Precision Business Insights' (PBI), latest report, the market value of the Thermal Insulation Market size was valued at USD 28.6 billion in 2023 and is expected to reach USD 35.6 billion by 2030, growing at a 7.2% CAGR from 2023 to 2030. The primary factors that drive the market are the growing public awareness of energy-saving methods and greenhouse benefits, rising temperatures heat and cold across the world, and increasing demand for thermal insulation techniques and material in the market.

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The Thermal Insulation Market Is Segmented Based On Material, Application, End-User, And Region.
Based on the material, the market is segmented into the following.
• Glass Wool
• Stone Wool
• Plastic Foam

Based on the application, the market is segmented into the following.
• Roof Insulation
• Floor Insulation
• Wall Insulation

Based on the end user, the market is segmented into the following.
• Residential
• Non-Residential

Glass Wool to Dominate the Thermal Insulation Market:
Based on material type, glass wool holds the highest market share. The major factor for the rise of this segment is that the use of glass wool protects from direct heat and cold. Global warming is the long-term warming of the overall temperature, the rise in climatic conditions and increasing temperature across the world needs insulation techniques to protect from sunlight, key players are working on developing new products to inhabit heat in the residence. Glass wool shares major market share in the world, with the capacity of -195°C to 230°C. These factors can drive the Thermal Insulation Market growth.

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Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific Thermal Insulation Market:
Asia Pacific region is expected to grow significantly in the Thermal Insulation Market size over the forecast period. It is attributed to the increasing number of well-developed infrastructures in the region, it is predicted that Asia Pacific will be the fastest-growing market for thermal insulation, in the forecast period, China and India are projected to impose various energy-saving methods with the help of government regulations to protect from direct heat and cold.

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Strategic New Product Launches, Mergers, Acquisitions, And Agreements Are The Key Strategies Adopted By Market Players:
The Thermal Insulation Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.
In September 2022, GAF expand commercial Roofing Operations into Georgia with a New TPO Manufacturing Plant. GAF is committed to ensuring that our commercial roofing customers receive the highest quality service and adding another manufacturing plant in Georgia will help ensure that our customers get the GAF products.
In March 2022, Knauf Gips Kg officially opened a new glass mineral wool thermal insulation recycling facility with an investment of USD 12.5 million in Vise, Belgium, for an exciting new recycling service for the construction industry.

Key players' profiles in the Thermal Insulation Market report are Rockwool International A/S, GAF Materials Corporation, Guardian Building Products, Inc., Huntsman International LLC, Johns Manville Corporation, Cellofoam North America, Inc., Atlas Roofing Corporation, CertainTeed Corporation, Roxul, Inc., Dow Building Solutions, Owens Corning Corporation, Saint-Gobain S.A., Byucksan Corporation, Kingspan Group PLC, and BASF Polyurethanes GmbH

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This release was published on openPR.