Building Thermal Insulation Materials Market by Type, Application, and Geography - Forecast and Analysis 2021-2025

The building thermal insulation materials market size has the potential to grow by USD 530.79 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by type (glass wool, EPS, stone wool, XPS, and others), application (wall, roof, and floor), and geography (North America, Europe, APAC, MEA, and South America). Also, the building materials industry trends report analyzes the market's competitive landscape and offers information on several market vendors, including BASF SE, Berkshire Hathaway Inc., Byucksan Corp., Compagnie de Saint-Gobain SA, Covestro AG, Dow Inc., Kingspan Group Plc, Knauf Insulation, Owens Corning, and ROCKWOOL International AS.

Market Overview

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Market Competitive Analysis

The market is fragmented. The growing industrialization in developing regions has encouraged the entry and growth of domestic vendors. The major vendors in the market mainly compete based on factors such as operation cost, innovation, product quality, and price. BASF SE, Berkshire Hathaway Inc., and Byucksan Corp. are some of the major market participants. Although the growing demand from emerging economies will offer immense growth opportunities, the volatility in raw material prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this building thermal insulation materials market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this building thermal insulation materials market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• BASF SE
• Berkshire Hathaway Inc.
• Byucksan Corp.
• Compagnie de Saint-Gobain SA
• Covestro AG
• Dow Inc.
• Kingspan Group Plc
• Knauf Insulation
• Owens Corning
• ROCKWOOL International AS

Building Thermal Insulation Materials Market: Segmentation by Geography

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North America was the largest building thermal insulation materials market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Initiatives such as the Weatherization Assistance Program (WAP), tax rebates, and stringent government regulations will significantly drive building thermal insulation materials market growth in this region over the forecast period.

37% of the market's growth will originate from North America during the forecast period. The US is one of the key markets for building thermal insulation materials in North America. Market growth in this region will be faster than the growth of the market in Europe and South America.

Building Thermal Insulation Materials Market: Segmentation by Type

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Properties such as the high thermal resistance or R-value, low fire hazards, versatility, and lifespan will contribute to the growth of this industry segment in the coming years. In addition, the eco-friendly nature of the glass wool with low GHG will drive the demand for glass wool during the forecast period.

Market growth in the glass wool segment will be slower than the growth of the market in the EPS and XPS segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the building thermal insulation materials market size.

Building Thermal Insulation Materials Market: Key Drivers and Trends

The growing demand from emerging economies is one of the key factors that will drive the building thermal insulation market growth at a CAGR of almost 4% during 2020-2024. Presently, many original equipment manufacturers (OEM)s of building thermal insulation materials are focusing on shifting their manufacturing operations to emerging countries owing to factors such as cheap labor, low transportation costs, easy availability of land, and less stringent government norms. Moreover, the construction industry is a major sector contributing to the gross domestic product (GDP). The rise in the GDP of emerging economies is expected to result in the growth of the manufacturing and building industries, which will lead to the growth of the global building thermal insulation materials market. Furthermore, higher disposable incomes and changing lifestyles in these economies have led to additional growth in the construction market; thereby inspiring consumers to remodel their homes and buildings according to the energy-efficient building norms. Therefore, the building thermal insulation materials market in the construction industry is expected to have high growth during the forecast period.

Technavio's building thermal insulation industrial analysis predicts that the tax rebates and incentives will be one of the major factors that will have a positive impact on the building thermal insulation materials market growth.  Buildings are one of the largest consumers of energy and carbon-dioxide polluters. About two-thirds of the energy consumption in buildings is used for heating, ventilation, and cooling. Numerous developed countries such as the US, Poland, Germany, and the UK have come up with tax rebates and incentives for constructing buildings with low energy consumption. The US government is already promoting building insulation by offering tax rebates and incentives on new home insulation or re-insulation if the thermal insulation standards were met by the individual homeowners. Moreover, green buildings with low energy consumption are offered tax rebates by many government bodies across the world. These factors are likely to increase the demand for building thermal insulation materials in the coming years.

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Building Thermal Insulation Materials Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive building thermal insulation materials market growth during the next five years
• Precise estimation of the building thermal insulation materials market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the building thermal insulation materials industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of building thermal insulation materials market vendors

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