The Building Thermal Insulation Market Will Reach US$35 Billion By
Selbyville, Del., Feb. 24, 2022 (GLOBE NEWSWIRE) —
The Building Thermal Insulation Market Is Expected To Exceed USD 35 Billion By 2028, As Reported In A research study by Global Market Insights Inc. The increase in energy requirements will give impetus to the growth of the industry.
Growing consumer awareness of energy conservation along with increasing carbon footprint across the globe is further driving the market demand. According to the UN, the buildings segment consumed 55% of the total electricity, which represents more than 38% of the total energy-related CO2 emissions in the world. Rising growth rate of energy prices and depleting levels of fossil fuels are expected to boost consumer spending, driving the growth of the market. Innovations such as green buildings, sensor-integrated buildings, geopolymer concrete, sensor-integrated roads, and water management are likely to increase market demand.
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The wool insulation segment is expected to exceed nearly USD 19 billion by 2028. The increasing demand for wool insulation in building construction activities is mainly attributed to its various properties including soundproofing, versatility , non-flammability and reduced maintenance costs.
Based on the application, the flooring segment will gain a competitive market share of around 18% in 2028. Floor insulation will help reduce the amount of heat that escapes from the floor. In addition, it also protects the drafts that cross the floors and increases the fire resistance of the house.
The industrial application is expected to grow at around 5.2% CAGR through 2028. The emergence of different industry players in the fields of power, oil & gas, chemical, automotive and HVAC contributes to the Building Thermal Insulation Market Growth. Industrial buildings gradually adopting electricity-saving practices, such as roof, wall and floor insulation, are driving the demand for thermal insulation products.
The North America market is expected to witness tremendous growth and will acquire more than 19% of revenue share by 2028. Rising demand for green building construction coupled with stringent government regulations and environmental policies will propel the demand for produced during the evaluation period.
Key players in the building thermal insulation market are BASF SE, Johns Manville, Saint-Gobain, Huntsman International, CertainTeed, Cellofoam North America, Rockwool International A/S, Atlas Roofing Corporation, Tasman Insulation New Zealand, GAF, Dow Building Solutions, Beijing New Building Material, Neo Thermal Insulation, Kingspan Group, Owens Corning Corporation, URSA Insulation, Lloyd Insulations and Sika AG.
Some of the key findings of the Global Building Thermal Insulation Market report include:
- The growing demand for green buildings to minimize energy consumption will propagate new market opportunities.
- The robust growth of urbanization in developing regions will proliferate the size of the industry.
- Growing CO concerns2 emissions associated with changing consumer trends towards low maintenance, high performance insulation materials across the world will create demand for the products.
- Major market players engage in research and development, strategic alliances, and mergers and acquisitions (M&A) to gain competitive advantages in the market.
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Partial chapters of the table of contents (TOC) of the report:
Chapter 2 Executive Summary
2.1 360° Overview of Building Thermal Insulation Industry, 2018-2028
2.1.1 Trade trends
2.1.2 Material trends
2.1.1 Application trends
2.1.2 End-use trends
2.1.3 Regional trends
Chapter 3 Building Thermal Insulation Industry Overview
3.1 Industry Segmentation
3.2 Industry Landscape, 2018 – 2028
3.3 Industry Ecosystem Analysis
3.4 Price Analysis
3.5 Regulatory landscape
3.6 Global Construction Industry Outlook
3.7 Industry impact forces
3.7.1 Drivers of growth
184.108.40.206 Reduction of greenhouse gas emissions
220.127.116.11 Strict government carbon targets
18.104.22.168 Increased demand for energy needs
3.7.2 Industry Pitfalls and Challenges
22.214.171.124 Stagnant growth of the construction industry in Europe
126.96.36.199 Lack of awareness
3.8 Growth Potential Analysis, 2020
3.9 Global Thermal Insulation Market Outlook
3.10 Commodity Trends
3.11 Innovation and sustainability
3.12 Porter’s analysis
3.13 Competitive Landscape, 2021
3.14 PILON analysis
3.15 Impact of COVID-19 on Building Thermal Insulation Demand, by End User
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.