The global Building Thermal Insulation Market is expected to witness an exponential CAGR in the years to come. This could be credited to growth in the construction industry and the ever-increasing urbanization. Plus, trends are shifting toward the upgradation of padding systems (in existence) to suffice construction standards. Users are emphasizing lessening energy consumption bills. That’s why retrofitting insulating material in attics and walls has garnered attention. Besides, stern codes are being implemented by governments for lessening industrial energy consumption; which would bolster the market further.
The focus is also shifting to core competencies in a broad range of materials inclusive of XPS and EPS. This shift is urging manufacturers to improve the materialization of optimum distribution channels for eating into the market share. On these lines, in May 2015, Knauf Insulation inked an agreement with CanWel Building Materials (Canada) for enhancing the former’s distribution channel.
The call for ecological balance is also driving the market. Industry expansion is being propelled by increasing energy-efficient green building construction for minimizing carbon footprint and enhancement in thermal comfort. The adoption of “zero energy buildings” is on the rise.
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The building thermal insulation industry is segmented by material, application, end-use, and geography. By material, the segmentation goes like open-cell materials/wool insulation (glass wool, stone wool, others (aerogel & cellulose)) and closed-cell materials/plastic foams (expanded polystyrene, extruded polystyrene, polyurethanes, and others). By application, the building thermal insulation market spans walls (air cavity, external, and internal), roof (pitch and flat), and floor. By end-use, the building thermal insulation industry comprises industrial, commercial, and residential.
By geography, the building thermal insulation market constitutes North America, Asia Pacific, Europe, MEA, and LATAM. The Asia Pacific is expected to grow at the fastest pace in the upcoming period. This could be attributed to rising in high industrialization rates and construction spending in emerging economies like Indonesia, Malaysia, China, Thailand, and India.
The players contributing to the building thermal insulation market include Armacell, Saint-Gobain, Owens Corning, Dow Building Solutions, Johns Manville, BASF Polyurethanes, and Huntsman International. Inorganic growth is on the anvil. For instance – Armacell entered into a “partnership of excellence” with KOPP in Mar 2018 to establish a long-term technology license that renders high-quality materials to customers.
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