Building Insulation Market - Global Industry Analysis

Building Insulation Market By Material (Wool Insulation and Plastic Foams); By Application (Wall, Floor, Ceiling, and Attic); By End User (Residential and Commercial) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 01-Mar-2022 Category: Chemical & Materials Report Format : PDF Pages: 167 Report Code: ZMR-2009 Status : Published

The global building insulation market was valued at $26,170 million in 2021 and is anticipated to surpass $39,900 million by the end of 2028, with a compound annual rate of 3.9% over the forecast period.

Description

Industry Prospective:

The global building insulation market was valued at $26,170 million in 2021 and is anticipated to surpass $39,900 million by the end of 2028, with a compound annual rate of 3.9% over the forecast period. The report comprehensively analyses growth factors, opportunities, and challenges in the market during the forecast period. Additionally, the report explorers the investor and stakeholder space to help turn opportunities into profitable business factors.

Building Insulation Market: Overview

A steady and consistent growth rate of the global building insulation market in the past few years is likely to be determined by a healthy CAGR in the forthcoming years. Building insulation refers to the installation of thermal resistance in construction properties with the aim to lower heat, thereby saving cooling expense by enhancing the energy efficiency of the air conditioners to prevent heat loss. Insulation adopts R-value to measure the thermal resistance that indicates the heat holding capacity of the material used in them. In general, the thicker the insulation layer, the higher the R-value will be. Building insulation encourages temperature control of surface and energy conservation with minimal charges.

Global Building Insulation Market

COVID-19 Impact:

The outbreak of the Covid-19 pandemic has significantly impacted the growth trajectory of the global building insulation market due to the worldwide lockdowns and import-export restrictions. There was undersupply of housing all around the globe to cater to surging demand during the pandemic period. It created a major opportunity for developers and investors to come up with innovative construction technology in order to accelerate development. Apparently, production at many manufacturing companies resumed in the second half of Covid-19 with the downtrend in Covid cases. However, it emerged as a positive indication for the speedy recovery of the global market, thereby fostering hope and development in the market.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Building Insulation Market: Growth Drivers

Increasing energy expenditure will pave the way for global market growth.

High energy cost is one of the primary reasons for the growing demand for building thermal insulation products, particularly in commercial and residential applications. The cost incurred due to the unaccountable consumption of energy is twofold. Heavy energy usage leads to a steep surge in prices and causes fast depletion of natural resources. Commercial and residential spaces are looking forward to insulating their places and premises. Manufacturers of thermal insulation materials are concentrating on enhancing the overall performance of the material. Therefore, the application materials are innovated in a way to lower the overall installation and assembly time owing to the reduced thickness of insulating materials and several other factors. Thin application materials offer enormous benefits in material handling and thereby increase the load-bearing capacity of the established structures. Thereby, it supports architects and designers in designing an efficient building framework and structure.

Building Insulation Market: Restraints

Growing threats of substitutes may hamper the global market growth.

Growing preference for recyclable, biodegradable, and green products by businesses, architects, and homeowners due to the growing environmental awareness is likely to foster the threat of substitutes in the market.

Building Insulation Market: Opportunities

Favorable regulations focusing on reducing overall energy consumption are likely to offer huge growth opportunities.

Thermal insulation helps lower the dependency on air conditioning and ventilation, thereby significantly minimizing energy consumption globally. Additionally, the favorable building codes in Canada and the US, along with the growth of energy certification agencies like the US Green Building Council (USGBC) and leadership in Energy & Environmental Design (LEED), are likely to positively impact the growth trajectory of the global building insulation market by offering ample growth opportunities.

Building Insulation Market: Challenges

High initial investment is a common barrier in the global market.

Lack of proper financing options for the up-front investments and high initial costs is continued to be a huge challenge for market players. However, the government in several regions has taken appropriate initiatives to lower the barriers like financial incentives, mandatory energy efficiency standards, etc.

Global Building Insulation Market: Segmentation

The global building insulation market can be segmented into material, application, end-user, and region.

By material, the market can be segmented into plastic forms and wool insulation.

By application, the market can be segmented into attic, ceiling, floor, and wall.

By end-user, the market can be segmented into the commercial and residential sectors.

Recent Developments

  • Hira Industries, in February 2021, launched Aero foam NBR Lap Seal Tubes. These are effective and efficient thermal insulation solutions installed in commercial and residential complexes to offer enhanced durability, safety, and efficiency of the buildings.
  • Demilec Inc., in September 2019, launched several spray foam insulation products for the Middle East market.

Building Insulation Market: Regional Landscape

Europe accounts for the largest share in the global building insulation market due to the growing regulations by the regional government regarding encouraging thermal insulation for energy conservation. Additionally, the growing construction activities in the commercial and residential sector in North America are likely to foster speedy growth in the regional market. Additionally, the growing awareness among people regarding energy conservation materials is further likely to propel the growth of the regional market significantly during the forecast period.

Building Insulation Market: Competitive Landscape

Some of the significant players in the global building insulation market include Beijing New Building Material (Group) Co., Ltd., Saint-Gobain S.A., Paroc Group, Johns Manville, Rockwool International A/S, Knauf Insulation, and Owens Corning.

Global building insulation market is segmented as follows:

By Material

  • Wool Insulation
  • Plastic Foams

By Application

  • Wall
  • Floor
  • Ceiling
  • Attic

By End User

  • Residential
  • Commercial

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  • Chapter 2. Executive Summary
    • 2.1. Global building insulation market, 2014 - 2022, (USD Billion)
    • 2.2. Building insulation market: Market snapshot
  • Chapter 3. Global Building Insulation Market – Industry Analysis
    • 3.1. Building insulation market: Market dynamics
    • 3.2. Market Drivers
      • 3.2.1. Rising adoption of building insulation in various applications
      • 3.2.2. Stringent energy efficiency regulations for buildings
    • 3.3. Restraints
      • 3.3.1. Energy conservation and reduction of carbon foot prints
      • 3.3.2. Slow growth of construction industry
    • 3.4. Opportunity
      • 3.4.1. Increasing trend of green building with very low conservation
    • 3.5. Porter’s Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis by materialsegment
      • 3.6.2. Market attractiveness analysis by application segment
      • 3.6.3. Market attractiveness analysis by regional segment
  • Chapter 4. Global Building InsulationMarket - Competitive Landscape
    • 4.1. Company market share analysis, 2016 (Subject to data availability)
  • Chapter 5. Global Building Insulation Market–MaterialSegment Analysis
    • 5.1. Global building insulation market revenue share, by material, 2016& 2022
    • 5.2. Global building insulation market by wool insulation, 2014-2022(USD Billion)
    • 5.3. Global building insulation market by plastic foams, 2014-2022(USD Billion)
    • 5.4. Global building insulation market by others, 2014-2022(USD Billion)
  • Chapter 6. Global Building Insulation Market–Application Segment Analysis
    • 6.1. Global building insulation marketrevenue share, by application 2016&2022
    • 6.2. Global building insulation market for wall insulation, 2014-2022(USD Billion)
    • 6.3. Global building insulation market for roof insulation, 2014-2022(USD Billion)
    • 6.4. Global building insulation market for floor insulation, 2014-2022(USD Billion)
  • Chapter 7. Global Building Insulation Market- Regional Analysis
    • 7.1. Global building insulation market: Regional overview
      • 7.1.1. Global building insulation market revenue share, by region, 2016 and 2022
    • 7.2. North America
      • 7.2.1. North America building insulation market revenue, by material, 2014 – 2022 (USD Billion)
      • 7.2.2. North America building insulation market revenue, byapplication, 2014 – 2022 (USD Billion)
    • 7.3. Europe
      • 7.3.1. Europe building insulation market revenue, by material, 2014 – 2022 (USD Billion)
      • 7.3.2. Europe building insulation market revenue, byapplication, 2014– 2022 (USD Billion)
    • 7.4. Asia Pacific
      • 7.4.1. Asia-Pacific building insulation market revenue, by material, 2014 – 2022 (USD Billion)
      • 7.4.2. Asia-Pacific building insulation marketrevenue, byapplication, 2014 – 2022 (USD Billion)
    • 7.5. Latin America
      • 7.5.1. Latin America building insulation market revenue, by material, 2014– 2022 (USD Billion)
      • 7.5.2. Latin America building insulation market revenue, byapplication, 2014– 2022 (USD Billion)
    • 7.6. Middle East & Africa
      • 7.6.1. Middle East & Africa building insulation market revenue, bymaterial, 2014 – 2022 (USD Billion)
      • 7.6.2. Middle East & Africa building insulation market revenue, byapplication, 2014 – 2022 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1. BASF SE
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. Rockwool International A/S
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. Johns Manville Inc.
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. Knauf Insulation
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. Beijing New Building Material
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent development
    • 8.6. Paroc
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. Saint-Gobain
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. GAF
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments
    • 8.9. Kingspan Group Plc
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product portfolio
      • 8.9.4. Business strategy
      • 8.9.5. Recent developments
    • 8.10. WECON Technology Co.Ltd
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product portfolio
      • 8.10.4. Business strategy
      • 8.10.5. Recent developments
    • 8.11. Owens Corning Corporation
      • 8.11.1. Overview
      • 8.11.2. Financials
      • 8.11.3. Product portfolio
      • 8.11.4. Business strategy
      • 8.11.5. Recent developments

Table Of Figures

List of Figures 

1. Global building insulation market segmentation by  material, application and geography
2. Global building insulation market, 2014 - 2022  (USD Billion)
3. Porter’s five forces analysis:  Building insulation market
4. Global building insulation market attractiveness, by  material 
5. Global building insulation market attractiveness, by application
6. Global building insulation market attractiveness, by region
7. Global building insulation market revenue share, by  material, 2016 & 2022
8. Global building insulation market by  wool insulation, 2014-2022(USD Billion)
9. Global building insulation market by plastic foams, 2014-2022(USD Billion)
10. Global building insulation market revenue share, by application 2016 & 2022
11. Global building insulation market for wall insulation, 2014-2022(USD Billion)
12. Global building insulation market for roof insulation, 2014 – 2022 (USD Billion)
13. Global building insulation market for floor insulation, 2014 – 2022 (USD Billion)
14. Global building insulation market revenue share, by region, 2016 - 2022
15. North America building insulation market, 2014 - 2022,  (USD Billion)
16. Europe building insulation market, 2014 - 2022,  (USD Billion)
17. Asia Pacific building insulation market, 2014 - 2022(USD Billion)
18. Latin America building insulation market, 2014-2022 (USD Billion)
19. Middle East & Africa building insulation market, 2014 – 2022, (USD Billion)
 


Table Of Tables

List of Tables

1. Global building insulation market snapshot
2. Drivers for building insulation market: Impact analysis
3. Restraints of building insulation market: Impact analysis
4. North America building insulation market revenue, by  material, 2014 – 2022 (USD Billion) 
5. North America building insulation market revenue, by application, 2014 – 2022 (USD Billion)
6. Europe building insulation market revenue, by  material, 2014 – 2022 (USD Billion) 
7. Europe building insulation market revenue, by application, 2014 – 2022 (USD Billion)
8. Asia-Pacific building insulation market revenue, by  material, 2014 – 2022 (USD Billion)
9. Asia-Pacific building insulation market revenue, by application, 2014 – 2022 (USD Billion)
10. Latin America building insulation market revenue, by  material, 2014 – 2022 (USD Billion)
11. Latin America building insulation market revenue, by application, 2014 – 2022 (USD Billion)
12. Middle East & Africa building insulation market revenue, by  material, 2014 – 2022 (USD Billion)
13. Middle East & Africa building insulation market revenue, by application, 2014 – 2022 (USD Billion)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Building Insulation market. Zion Research has collected and analyzed key data belong to the global Building Insulation market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Building Insulation across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Building Insulation industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Building Insulation market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Building insulation is the process of reducing heat transfer between adjacent environments and maintaining an ambient temperature indoors. These insulated buildings help reduce the carbon footprint as it utilizes less energy in order to maintain a temperature and limits the conduction of heat to the external environment. Thermally insulated homes or buildings are less affected by external environmental temperature. Thermal insulation in buildings can be done using various materials such as foamed plastic, fiber glass, and mineral wool among various others such as cotton slag, wool slag, aerogels etc. Foamed plastic insulation materials include expanded polystyrene, extruded polystyrene, polyurethane and other forms of plastic.

The major factor which is driving the growth of the building insulation market is stringent energy efficiency regulations for buildings are driving the penetration of insulation in the overall building stock and also increasing the amount of insulation needed per building. The emerging trends such as the shift towards greener insulation alternatives and increasing demand for high-temperature thermal insulation are having a direct impact on the dynamics of the building insulation industry. However, lack of awareness about energy saving and slow growth of construction industry is hindering the growth of building insulation market. Nonetheless, building insulation market will be expected to spur demand due to growth of construction sector in economically emerging countries such as China, Brazil, India, Netherlands, and others

Global-Building-Insulation-Market555

Building insulation market is segmented on the basis of material application and region. By material, the market is segmented into wool insulation, plastic foams, and others. Building insulation market is dominated by wool insulation due to its attributes such as higher thermal resistance, R-value (R-value is a measure of thermal resistance), versatility, strength, and life span. The plastic foam insulation segment is expected to be the fastest-growing type of building thermal insulation over the forecast period.  Application segment is divided into wall insulation, roof insulation, and floor insulation. The market in the roof insulation application is expected to witness the highest growth rate due to the growing commercial and residential insulation in North America, Europe, and Asia-Pacific. The growing construction industry in the Asia Pacific and Middle East countries such as China, Japan, and India is also driving the market in this segment.

By region, North America is held largest share in 2016 for insulation materials, and the revived growth in the construction industry in coming years. The insulation market in Europe is expected considerable growth due to mostly dependent upon re-insulation of old buildings. Asia Pacific will be expected highest CAGR for building insulation market. The Asia Pacific building insulation market is primarily driven by non-residential insulation. The manufacturing economies of China and India have created a market for insulation materials, while the market for building insulation in Japan is in matured stage. The Middle East & Africa and Latin America will be expected potential growth owing to growth construction industry.

BASF SE, Rockwool International A/S, Johns Manville Inc., Knauf Insulation, Beijing New Building Material, Paroc, Saint-Gobain, GAF, Kingspan Group Plc, and Owens Corning Corporation, among others are the major building insulation suppliers.

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FrequentlyAsked Questions

High energy cost is one of the primary reasons for the growing demand for building thermal insulation products, particularly in commercial and residential applications. The cost incurred due to the unaccountable consumption of energy is twofold.

 

The global building insulation market was valued at $26,170 million in 2021 and is anticipated to surpass $39,900 million by the end of 2028, with a compound annual rate of 3.9% over the forecast period.

Some of the significant players in the global building insulation market include Beijing New Building Material (Group) Co., Ltd., Saint-Gobain S.A., Paroc Group, Johns Manville, Rockwool International A/S, Knauf Insulation, and Owens Corning.

 

Europe accounts for the largest share in the global building insulation market due to the growing regulations by the regional government regarding encouraging thermal insulation for energy conservation.

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