Thermal Insulation Materials Market

Thermal Insulation Materials Market, By Material Type (Plastic Foam, Stone Wool, Fiberglass, Others), By Temperature Range (−160⁰C to −50⁰C, − 49⁰C to 0⁰C , 1⁰C to 100⁰C, 1⁰C to 650⁰C), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

Thermal insulation materials are the type of materials, which are used for restricting the flow of heat energy between high temperature region and low temperature region. Thermal insulation materials are widely used across various end-user industries in order to decrease the energy consumption of the buildings and to maintain a desired temperature in an area without the need for further usage of cooling and heating equipment.

Market Dynamics

Driver

The global thermal insulation materials market has witness a surge in market growth in terms of revenue in recent past years, owing to the surge in demand for thermal insulation materials in the construction industry. Governments across the world are investing on sustainable development in cities and encouraging the construction of green buildings to reduce the carbon footprint and energy consumptions. For instance, in March 2022, the portfolio of BASF's graphitic expandable polystyrene (EPS) granulate was expanded. Neopor F 5 McycledTM, which was introduced by BASF and contains 10% recycled material, is appropriate for many building applications, particularly facade insulation. The Company operates in six segments, including chemicals, plastics, performance products, functional solutions, agricultural solutions, and oil and gas.

Increasing government initiatives for promoting the construction of the green building is expected to accelerate the market growth of thermal insulation materials. According to the Concerted Action for the Energy Performance of Buildings Directive (a joint initiative of member states of the European Union and the European Commission), all buildings constructed in member states should comply with zero-energy standards by 2020.

On the basis of material type, the global thermal insulation materials market is bifurcated in to plastic foam, stone wool, fiber glass and others. Fiber glass is expected to grow substantially during the forecasted period, owing to its rising demand in different end-user industries. Manufacturers are focusing on development of thermal insulation materials which are lighter in weight in order to increase their efficiency and convenience. This scenario is projected to fuel the market growth in forthcoming years.

Restraint

The use of some insulation materials raises health issues, which is a significant barrier to the market's growth. When used during the laying process, glass wool, for instance, can irritate the eyes and respiratory system. Expanded and extruded polystyrene, a carcinogen, has been prohibited during production due to styrene emission. The health risks associated with these insulation products and the strict laws governing their use may limit their acceptance, making it difficult to expand the market.

Key features of the study:

• This report provides in-depth analysis of global thermal insulation materials market size (US$ Billion), and Compound Annual Growth Rate (CAGR %) for the forecast period (2023 – 2030), considering 2022 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
• It profiles leading players in the global thermal insulation materials market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study includes Saint-Gobain S.A., Kingspan Group, Dow Chemicals Company, Asahi Kasei Corporation, BASF SE, Owens Corning, Bayer AG Rockwool International, E. I. du Pont de Nemours and Company, and Berkshire Hathaway
• Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
• The global thermal insulation materials market report caters to various stakeholders in this industry including investors, suppliers, global thermal insulation manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global thermal insulation materials market

Detailed Segmentation:

• Global Thermal Insulation Materials Market, By Material Type:
• Plastic Foam
• Stone Wool
• Fiberglass
• Others
• Global Thermal Insulation Materials Market, By Temperature Range:
• (−160⁰C to −50⁰C)
• (− 49⁰C to 0⁰C)
• (1⁰C to 100⁰C)
• (1⁰C to 650⁰C)
• Global Thermal Insulation Materials Market, By Region:
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• France
• Germany
• Italy
• Spain
• U.K.
• Nordic
• Benelux
• Russia
• Poland
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Oceania
• Rest of Asia Pacific
• Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
• Company Profiles
• Saint-Gobain S.A.
• Kingspan Group
• Dow Chemicals Company
• Asahi Kasei Corporation
• BASF SE
• Owens Corning
• Bayer AG
• Rockwool International
• E. I. du Pont de Nemours and Company
• Berkshire Hathaway