Thermal Insulation Materials Market is Estimated to Witness High Growth Owing to Increasing Construction of Green Buildings
Thermal Insulation Materials Market is Estimated to Witness High Growth Owing to Increasing Construction of Green Buildings
Blog Article
Thermal insulation materials are used widely in various applications to reduce heat transfer and energy losses. They provide thermal resistance to walls, roofs, lofts, and pipework and help keep the interiors warm in winter and cool in summer. Insulation materials significantly reduce heating and cooling costs by protecting buildings from temperature fluctuations. Increasing construction of energy-efficient green buildings is driving the demand for thermal insulation as they conform to strict energy efficiency standards. Stringent building energy codes and other government initiatives are also fueling sales.
The Global Thermal Insulation Materials Market is estimated to be valued at USD 72.77 Bn in 2025 and is expected to exhibit a CAGR of 6.4% over the forecast period 2025 to 2032.
Key Takeaways
Key players operating in the Thermal Insulation Materials market are Rockwool International, Owens Corning, Saint-Gobain Group, Kingspan Group, Knauf Insulation, Johns Manville, Dow Chemicals Company, BASF SE.
Thermal Insulation Materials Market Insights is expected to witness significant growth opportunities due to rising retrofitting activities and renovation of old buildings. Stringent regulations regarding GHG emissions and energy efficiency are compelling building owners to adopt insulation solutions.
Globally, Europe dominates the thermal insulation materials market. However, Asia Pacific is expected to surpass Europe by 2031 due to the immense growth potential from China, India, Indonesia, Thailand, and Malaysia. Growing construction spending on commercial buildings and infrastructure in developing nations is supporting regional expansion.
Market drivers
Increasing enactment of stringent building energy codes mandating minimum insulation standards is a key factor driving the thermal insulation materials market. Various governments across regions are passing new directives and policies to boost energy efficiency in buildings and control GHG emissions from the construction sector. For instance, the updated Energy Conservation Building Code (ECBC) 2017 in India made it mandatory for commercial buildings to follow specific insulation and glazing standards. This positively impacts market revenues.
PEST Analysis
Political: Changes in regulations related to energy-efficiency and sustainability may impact demand.
Economic: Economic growth and changing income levels affect construction spending and purchases of insulated products.
Social: Growing environmental awareness and concern for energy conservation are key drivers.
Technological: New insulation materials and building techniques that offer better performance and sustainability are gaining ground. Automation in manufacturing also impacts production capabilities.
Geographical regions where market is concentrated in terms of value
North America accounts for the largest share currently due to cold climate and stringent building codes. Europe is another major regional market driven by similar factors and a recovery in construction. Asia Pacific is growing briskly led by infrastructure and real estate development in China, India and other developing nations.
Fastest growing region for the market
Asia Pacific region is projected to expand at the fastest pace during the forecast period with growth centered around China, India and other developing Asian countries. This is attributed to rising population, rapid urbanization, increasing commercial and residential construction activity along with initiatives to improve energy-efficiency of infrastructure and buildings.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)