Global Building Insulation Materials Market Size 2024, Forecast To 2033
11 Mar, 2024
The building insulation materials market size has grown steadily in recent years. It will grow from $25.5 billion in 2023 to $26.23 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to emerging markets growth, the rise in demand for energy-efficient buildings, the increased focus towards sustainability and the rapid industrialization. The building insulation materials market size is expected to see steady growth in the next few years. It will grow to $30.11 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to emerging markets growth, the rise in demand for energy-efficient buildings, the increased focus towards sustainability and the rapid industrialization. Major trends in the forecast period include focusing on eco-friendly insulation materials, focusing on product innovations and developing new product solutions, focusing on new technologies and developing advanced product solutions, focusing on collaborations and acquisitions to improve financial strength and focusing on new plant expansions to serve the increasing demand.
Global Building Insulation Materials Market Key Driver
The uptick in construction activities is set to drive the expansion of the building insulation materials market in the foreseeable future. Construction activities encompass essential actions in building or structural processes, ranging from construction and destruction to assembly, alteration, installation, or equipment. The surge in construction activities, propelled by rapid industrialization and urbanization, has generated a substantial demand for insulation materials in the construction of both residential and commercial structures. Insulation serves as an energy-saving measure, mitigating heat surplus in warm climates and reducing heat loss in cold environments. In June 2021, Stats NZ Tatauranga Aotearoa reported a 3.7% increase in building activities in March 2021, with residential activities rising by 4.3% compared to 2020. Additionally, the US Census Bureau noted a 10.2% growth in the value of construction activities, from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. These statistics underscore the pivotal role of increasing construction activities in propelling the building insulation materials market, with market sizes in 2023, 2024, and 2028 shaping industry dynamics.
Get A Free Sample Of The Global Building Insulation Materials Market ReportGlobal Building Insulation Materials Market Segments
The building insulation materials market covered in this report is segmented –
1) By Material: Fiberglass, Mineral Wool, Expanded Polystyrene, Extruded Polystyrene, Cellulose, Other Materials
2) By Insulation: Bulk, Reflective
3) By Application: Wall Insulation, Underfloor Insulation, Ceiling Or Roof Insulation, Window Insulation, Other Applications
4) By End User: Residential, Commercial, Industrial
Sub segments: Weather-Stripping, Caulk, Spray Foam, Window Inserts Or Interior Storm Stoppers, Window Film Insulation Kits, Residential End-User, Commercial End-User, Industrial End-User
By Geography:The regions covered in the building insulation materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the building insulation materials market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the building insulation materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Building Insulation Materials Industry Players
Owens Corning, Rockwool International A/S, Knauf Gips KG, Saint-Gobain S.A., BASF SE, Dow Inc, Berkshire Hathaway Inc., Huntsman Corporation, Covestro AG, DuPont de Nemours Inc, Anhui Sunval International Co. Ltd, Hangzhou Qiyao New Material Co. Ltd, Hainan Fuwang Industrial Co. Ltd, Xuchang Zhufeng Insulation Material Co. Ltd, Yuyao Tongchuang Thermal Insulation & Sealing Factory, Resistant Building Products Ltd, New Wave Doors Ltd, Gowercroft Limited, FibreGrid, Gyvlon Limited, Martyn Ryder, Keith Builders Merchants Limited, Spotnails Ltd, QEP-Vitrex, AluMate Limited, Wetherby Laroc Group, Plasson UK Ltd, Surface Heating & Cooling, Roofbase, LIGNIA Wood Company Limited, Gripsure UK Ltd, The Ashton Group, Celotex Ltd, IKO Enertherm, Kingspan, Gambit Lubawka Sp. z o.o., Global Mineral Group Sp. z o.o., TechnoNICOL Corporation, Steklonit JSC, Guardian Industries, Nippon Electric Glass America, Fiberglass Canada Inc., Holcim, Armacell, Isover, Texsa, Arabian Fiberglass Insulation Company Ltd, Ashtrom Group, Pearl Polyurethane Systems, Redcon Construction Company, Estim Construction Co. Ltd, Eco-Beam, Ecomo, TSAI Design Studio.
Get The Full Global Building Insulation Materials Market Report
Building Insulation Materials Market Overview
Building insulation materials refer to a substance made to stop heat or sound from transferring from one place to another. It is typically used to confine heat and/or sound to particular areas of a home or to keep them inside or outside.
Building Insulation Materials Global Market Report 2023 provides data on the global building insulation materials market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The building insulation materials market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.