Building Thermal Insulation Market is Forecasted to Reach US$ 37.01 Billion in 2028, Says Stratview Research

The global Building Thermal Insulation market is projected to witness a growth rate of 4.66% annually from 2023 to 2028, with an anticipated size of US$ 37.01 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Building Thermal Insulation market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 37.01 billion
Growth (CAGR): 4.66% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Building Thermal Insulation Market:

The global Building Thermal Insulation market is segmented based on Material type, Application type, Building type, and Region.

Based on material type - The market is segmented as stone wool, glass wool, plastic foam, and others. The plastic foam segment dominated the market in 2022 and is expected to maintain its position during the forecast period. Higher thermal resistance (R-value), versatility, strength, and lifespan are some of the major features leading to the dominance of the segment in the global market.

Based on application type - The market is segmented into roof insulation, wall insulation, and floor insulation. The wall insulation segment held the largest share of the market in 2022 and is expected to witness healthy growth during the forecast period. Rising demand for energy-efficient buildings along with maximum loss of energy through building walls is the major factor behind the dominance of the wall insulation segment.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/900/building-thermal-insulation-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

In terms of regions, North America is estimated to be the largest market for building thermal insulation during the forecast period. Significant demand from various end-use industries and the presence of major players in the region are the key factors behind the dominance of the region in the global market. Asia-Pacific is expected to witness the highest growth during the forecast period. China, Japan, South Korea, and India are the driving forces of the region's market.

Building Thermal Insulation Market Drivers:
Some of the key drivers listed in the report are given below.
• Increasing construction industry: The world is currently experiencing an increase in construction activities. According to the data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, approximately 1,392,300 housing units were built in the year 2022, representing an increase of 3.8 percent compared to that of 2021. The global market for building thermal insulation is rising rapidly with the rise in the building and construction sector. To maintain the temperature of buildings, effective thermal insulation plays a vital role. Hence, the rise in the demand for the building thermal insulation market is closely linked to the increasing construction industry.
• Rising Energy Expenditure and Costs: Significant energy usage might cost a lot of money to the consumers and also result in depletion of natural resources. To avoid these situations, efficient thermal insulation is an ideal solution. To insulate their spaces, consumers require cost-effective and reliable building thermal insulation solutions. Building thermal insulation reduces the heat flow, resulting in reduced energy requirements. This can lead to significant energy savings. According to the Indian Green Building Council (IGBC), these solutions can reduce energy consumption by up to 8 percent.
• The need to reduce greenhouse gas emissions: Organizations across the globe are working to reduce greenhouse gas emissions in the residential and industrial sectors. Since one of the sources of greenhouse gas emissions from human activities is energy consumption, energy saving becomes the utmost priority. Building thermal insulation solutions aid in reducing greenhouse gas emissions by reducing energy consumption.

Top Companies in the Building Thermal Insulation Market:
Stratview Research has identified the following companies as the top market players.
• Johns Manville Corporation,
• Saint-Gobain S.A.,
• BASF SE,
• Kingspan Group plc,
• Knauf Insulation, Inc.,
• Owens Corning,
• Huntsman Corporation,
• Rockwool International A/S,
• Firestone Building Products Company,
• Cabot Corporation,
• Dow Chemical Company,
• Covestro AG,
• URSA Insulation, S.A.,
• Paroc Group Oy,
• Atlas Roofing Corporation,
• GAF Materials Corporation,
• Lapolla Industries, Inc.,
• Beijing New Building Material (Group) Co., Ltd.,
• NICHIAS Corporation,
• Fletcher Building Limited,
• ODE Industry and Trade Inc.,
• Aspen Aerogels, Inc.,
• Trocellen GmbH,
• Recticel SA,
• KCC Corporation.
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Building Thermal Insulation Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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This release was published on openPR.