Global Building Insulation Material Market Set to Reach USD 71.85 Billion by 2034 with 6.7% CAGR

The global building insulation material market is poised for substantial growth, with projections indicating a rise from $37.56 billion in 2024 to $71.85 billion by 2034, reflecting a compound annual growth rate (CAGR) of 6.7%. This surge is primarily attributed to increasing environmental consciousness, the implementation of stringent energy efficiency regulations, and the burgeoning trend of green building practices.

The construction industry is a significant contributor to global energy consumption and greenhouse gas emissions. As a result, there is a heightened emphasis on energy conservation within this sector. Governments worldwide are enacting rigorous building codes and energy standards to promote the use of effective insulation materials, aiming to reduce energy consumption for heating and cooling purposes. This regulatory push, combined with a growing awareness of climate change, is propelling the demand for advanced insulation solutions.

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Key Takeaway from Market Study:

The global building insulation material market is forecasted to expand at a CAGR of 6.7% from 2024 to 2034.

Worldwide demand for reflective building insulation materials is predicted to increase at 6.8% CAGR and reach a market value of US$ 41 billion by the end of 2034.

The market in Japan is forecasted to advance at a CAGR of 7% and reach US$ 5.74 billion by 2034-end.

East Asia is projected to account for more than 27% of the building insulation material market share by the end of 2034.

Building insulation material sales in China are projected to reach US$ 11.16 billion by 2034.

Sales of building insulation materials in Canada are predicted to advance at a CAGR of 3.6% from 2024 to 2034.

"Market players should invest in cost-effective and eco-friendly insulation materials to meet rising energy efficiency demands, driven by stringent building codes, fluctuating energy prices, and the growing adoption of green building practices globally," says a Fact.MR analyst.

Rising Demand for Polystyrene-Based Building Insulation Materials:

Polystyrene-based building insulation materials are gaining popularity due to their waterproof nature and excellent sound and temperature insulation properties. Compared to fiberglass, they are lightweight, easy to install, and can be trimmed effortlessly for ceilings and walls. Their superior advantages are driving global demand. The industrial sector is expected to hold a 41.3% market share by 2034, driven by the need for sustainability and lower carbon footprints. Effective insulation systems help reduce energy consumption and greenhouse gas emissions, making eco-friendly options increasingly preferred in industrial applications.

Key Market Players:

BASF SE
GAF Insulation Types Corporation
Dow Inc.
Knauf Insulation
Rockwool International A/S
Saint-Gobain S.A.
Owens Corning Inc.
GlassRock Insulation Company SAE
Lloyd Insulations Limited
Kingspan Group Plc.
Covestro AG
Beijing New Building Insulation Type
Johns Manville
Cabot Corporation
Aspen Aerogels Inc.
Huntsman International LLC
CNBM Group Co. Ltd.

Competitive Landscape:

Leading market players are actively expanding their global presence and production capabilities. Many key companies are focusing on the development of eco-friendly insulation solutions to address growing environmental concerns and evolving regulatory requirements. Additionally, efforts are being made to enhance product quality, introduce innovative solutions, and optimize supply chain management.

For instance

In November 2022, Evonik introduced a new range of specialized feedstocks under the TEGO Therm® brand, designed to improve the functionality of thermal insulation coatings (TICs). This product line includes TEGO Therm® HPG 4000 and TEGO Therm® HPG 6806, which are microporous granules based on silica. Additionally, TEGO Therm® L 300, a heat-resistant silicone binder, is also part of this newly developed range.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the building insulation material market, presenting historical demand data and forecast statistics for the period (2024 to 2034).

The building insulation material market is segmented based on material, insulation type, application, end use, and region. Key materials include fiberglass, mineral wool, cellulose, polyurethane foam, polyisoprenecyanurate foam, polystyrene, aerogels, and others. Insulation types are categorized into bulk and reflective. Applications include wall, underfloor, ceiling/roof, and window insulation. The market serves residential, commercial, and industrial end users. Geographically, it is divided into North America, Europe, East Asia, Latin America, the Middle East & Africa, and South Asia & Oceania.

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This release was published on openPR.