Building thermal insulation refers to materials used in construction for limiting heat transfer between the interior and exterior of buildings. It helps to reduce heating/cooling costs and provide greater comfort. Factors such as rising energy costs, stringent energy efficiency regulations, and construction of green buildings are driving the demand for thermal insulation globally. The growing commercial construction sector across developing nations also supports market growth. However, fluctuating raw material prices remain a key challenge for manufacturers.
Market Dynamics:
The global building thermal insulation market growth is driven by several factors such as increasing need for energy conservation due to rising energy costs, stringent government regulations regarding energy consumption, and focus on sustainable construction. Rapid urbanization and growth in residential & commercial construction activities globally have also fueled market expansion. However, volatility in prices of raw materials used for insulation production act as a major restraining factor. On the other hand, emerging opportunities include rising demand for thermal insulation from developing countries, innovation of bio-based and eco-friendly insulating materials, and growth of green building projects.
Key features of the study:
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