PUBLISHER: The Business Research Company | PRODUCT CODE: 1429750
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429750
Building insulation materials are substances designed to impede the transfer of heat or sound between spaces, serving to contain and regulate thermal or acoustic conditions within a structure.
These materials encompass a range of elements such as fiberglass, mineral wool, expanded and extruded polystyrene, cellulose, among others. Fiberglass, composed of fine glass fibers, stands out for its lightweight and durable properties, adaptable for reinforcement or weaving. Insulation comes in bulk or reflective forms, utilized in various applications such as wall, underfloor, ceiling or roof, and window insulation. These insulation materials cater to different sectors including residential, commercial, and industrial settings.
The building insulation materials market research report is one of a series of new reports from The Business Research Company that provides building insulation materials market statistics, including the building insulation materials industry global market size, regional shares, competitors with building insulation materials market share, detailed building insulation materials market segments, market trends, and opportunities, and any further data you may need to thrive in the building insulation materials industry. This building insulation materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 witnessed in the historic period can be primarily attributed to the burgeoning expansion of emerging markets, heightened demand for energy-efficient structures, an increased emphasis on sustainability initiatives, and the swift pace of industrial development.
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%. Anticipated growth driven by emerging markets, energy-efficient building demand, sustainability focus, and industrialization. Trends include eco-friendly materials, innovation, tech advancement, partnerships, and facility expansions.
The building insulation materials market is poised for growth, driven by an upsurge in construction activities. Construction activities encompass essential processes related to building and structural development, including construction, alteration, assembly, and installation. The rapid pace of industrialization and urbanization has fueled increased construction endeavors. This heightened construction activity has created substantial demand for insulation materials in both residential and commercial building projects. Insulation serves as an energy-efficient measure, mitigating heat surplus in warm climates and minimizing heat loss in buildings situated in colder climates. Notably, in June 2021, Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, reported a 3.7 percent increase in building activities in March 2021. Additionally, residential activities witnessed a 4.3 percent rise in 2021 compared to the previous year. The US Census Bureau highlighted a significant growth rate in construction activity value, increasing from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, marking a growth rate of 10.2 percent. Consequently, the escalating construction activities are steering the building insulation materials market's growth.
The building insulation materials market is set to experience a boost due to augmented investment in infrastructure development. Infrastructure development involves constructing fundamental services that stimulate economic growth and enhance the quality of life. This surge in infrastructural development is anticipated to drive the demand for building materials, particularly exterior and interior insulation materials. Notably, in June 2022, the Government of Canada allocated funds for climate-resilient infrastructure initiatives, channeling $46.7 million into two vital climate resilience initiatives-the Climate Resilient Built Environment initiative and the Standards to Support Resilience in Infrastructure Program. Furthermore, in February 2022, the Brazilian government announced a strategic investment of BRL866 million ($51.36 million) in 762 infrastructure projects focused on tourism enhancement. These initiatives aim to improve the conditions of Brazilian tourist cities, enhancing the sector's potential to attract more visitors with increased comfort. The improvements encompass renovations, construction of event spaces, public squares, waterfronts, asphalt paving, and viewpoints, among other interventions. Consequently, the heightened investment in infrastructure development is poised to fuel the growth of housing and commercial projects, subsequently boosting the building insulation materials market.
Technological innovations are at the forefront of trends shaping the building insulation materials market, with major companies dedicated to advancing new technologies to maintain their market standing. A notable example is the January 2021 launch by Armacell, a Luxembourg-based manufacturer and supplier of industrial foams and flexible insulation materials. Armacell introduced a new AF/ArmaFlex generation designed to meet fire class B/BL-s2, d0 standards, enhancing fire safety in buildings. This elastomeric foam technology not only improves fire visibility but also extends the time available for evacuating a structure. In the event of a fire, AF/ArmaFlex Evo emits 50% less smoke compared to other flexible elastomeric foam materials, providing occupants with increased evacuation time and facilitating access for rescue crews.
Building insulation materials companies are strategically focusing on product innovations, introducing new solutions to fortify their market positions. A case in point is ACC Ltd., an India-based cement producer, which unveiled the 'ACC Airium' thermal insulating climate control concrete system in March 2022. This introduction aligns with ACC's strategic commitment to advancing the transition toward low-carbon and circular construction. The company has consistently emphasized expanding its portfolio of sustainable solutions.
In July 2021, Owens Corning, a US-based company specializing in insulation and composites, acquired Vliepa GmbH for $40 million. This move aims to expand Owens Corning's nonwoven products globally, particularly focusing on sustainable designs and lightweight construction methods in European markets. Vliepa GmbH, based in Germany, specializes in products for insulation, roofing membranes, and roofing construction.
Major companies operating in the building insulation materials market report are 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.
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.
The countries 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.
The building insulation materials market consists of sales of vermiculite, cementitious foam insulation, extruded polystyrene (Xps), and phenol formaldehyde resin. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Building Insulation Materials Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on building insulation materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for building insulation materials? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The building insulation materials market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.