Building Thermal Insulation Market Size 2024 Dow, Owens Corning, Johns Manville, Huntsman International, CertainTeed, Kingspan Group
Rising demand for energy conservation and high growth in construction spending will propel building thermal insulation market. Global construction industry was valued above USD 7 trillion in 2015 and will exceed USD 14 trillion by 2024. China, U.S and India together accounted for nearly 55% share in the same year.
High energy saving, reduced carbon footprints, and easy product availability are key factors fueling building thermal insulation market. Heat loss in a building through its walls, roofs and floors accounts for more than 70%. Benefits offered such as room temperature maintenance at minimum possible energy consumption will increase the product penetration.
Building Thermal Insulation Market size is estimated to exceed USD 34.9 billion by 2024; as per a new research report.
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Increasing adoption rate of International Energy Conservation Code (IECC) from 2012 has stimulated product growth in construction sector. Additionally, government norms corresponding to limited greenhouse gas emissions and energy conservation is anticipated to drive building thermal insulation market.
Ease of installation, along with high moisture sensitivity, compressive strength, better thermal conductivity and durability are key properties encouraging product penetration. Technological enhancement such as multi chamber profiles, double and triple insulated glass will promote industry growth.
Government financial support including low interest loans coupled with short payback period of installation will fuel building thermal insulation market. Further, European Energy saving regulations (EnEV) standards will strengthen business growth. However, increase plastic foam cost and prolonged polyurethane foam exposure will restrain industry growth.
Wool insulation material contributes more than 50% of consumption in building thermal insulation market in 2016. Increasing demand from commercial and residential construction will drive the product demand. It is extensively used in sheets & blankets form with a temperature sustaining capacity of above 400 degrees Celsius.
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Expanded polystyrene will witness 4.2% CAGR up to 2024. Superior properties including lightness, durability and process ability of the material have enhanced the industry growth. It offers similar thermal resistance as that of its counterparts with even lesser quantity due to high R-value.
Flat roof will surpass USD 5.6 billion till 2024. Inclination towards flat roof trends in commercial sector will drive the segment growth. Commercial sector expansion in terms of grocery stores, convenience stores, and shopping malls will enhance building thermal insulation market growth.
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Wall application was valued over USD 12 billion in 2016. Weather proofing requirements and enhancement towards energy efficiency will boost the application usage in the market. Heat transfer from walls in a building accounts for 35% of total heat loss.
UAE is anticipated to worth more than USD 260 million in 2016 and has become one of the most attractive hub for infrastructure spending. Increased adoption of technologies for curbing hot weather conditions, greenhouse gases and improved business environment will strengthen the product demand.
Global industry share includes Dow, Owens Corning, Johns Manville, Huntsman International, CertainTeed, Kingspan Group, BASF Polyurethanes, and Saint-Gobain.
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Related Reports: -
2016 Global Building Thermal Insulation Market Status, 2011-2022 Market Historical and Forecasts, Professional Market Research Report
This New Version Building Thermal Insulation Market Research Report is a deep market research report in this market. This report focused on global and regional market, major manufacturers, as well as the segment market details on different classifications and applications. First, this report analyzed the basic scope of this industry like definition, specification, classification, application, industry policy and news in Chapter 1.
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