Global Building Insulation Market: Analysis By Product Type, By Application, By End Users, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026

Global Building Insulation Market: Analysis By Product Type, By Application, By End Users, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026

The global building insulation market in 2021 was valued at US$28.38 billion, and is likely to reach US$33.00 billion by 2026. Building insulation serves in keeping heated interior spaces warmer in the winter and air-conditioned spaces cooler in the summer. Reducing thermal energy transfer not only makes places more pleasant, but it is also critical for regulating energy expenses.

Building insulation refers to any material in a building that is used as insulation for thermal management. Globally, the building insulation industry is growing, owing to the emergent inclination on green building concept. At the moment, the existing infrastructure are found to have intense potentiality to incorporate smart and green features in their infrastructure, thereby the demand for building insulation has been increasing. The building insulation has been gaining its popularity predominantly due to surge in green activities and renovation activities for old buildings especially in Europe. The building insulation market is expected to grow at a CAGR of 3.06% during the forecast period of 2022-2026.

Market Segmentation Analysis:

By Product Type: The report divides the segments into four different categories based on the type of product: stone wool, glass wool, foam, and others. The foam building insulation space segment held the highest share of 47.3% in 2021, due to increased demand from building & construction end-use industry.

By Application: The market report has segmented the market into three segments on the basis of application: wall insulation, roof insulation, and floor insulation. Floor building insulation segment is the fastest growing segment with a CAGR of 3.5% during the forecast period due to the rising demand for smart and energy-efficient buildings.

By End-Users: In this report, the market is segmented into three major segments, on the basis of end users: residential, commercial, and industrial. Due to the rising product demand for improving equipment efficiency and process performance across application sectors such as power generation, among others, the industrial building insulation segment is the fastest growing segment at a CAGR of approximately 5% during the forecast years of 2022-2026.

By Region: According to this report, the global market can be divided into five major regions, on the basis of geographical areas: Europe, North America, Asia Pacific, Latin America and Middle East & Africa. The European building insulation market enjoyed the largest share of 40% of the global market in 2021, primarily owing to an increase in the number of residential and commercial buildings across the region. On the other hand, the Latin America building insulation market is the emerging region in the global market, growing at a CAGR of 3.6% due to the growing investments in affordable housing, along with rising demand for new commercial buildings.

Global Building Insulation Market Dynamics:

Growth Drivers: The global building insulation market is being driven by an increase in construction activities, as regions such as Asia Pacific, Latin America, and the Middle East & Africa are seeing an increase in new building projects. Further, the market has been expanding during the past few years, owing to factors such as, growing urban population, increased popularity of nuclear and extended families, surge in old-building renovation activities, rapid climate change and supporting government regulations.

Challenges: The health-related issues raised by building insulation materials have been a challenge for the market as long-term exposure to insulation materials like glass wool during installation is known to have hazardous impact on workers’ health such irritation in eyes, etc. Additionally, the market has been facing some challenges, namely, unstable raw material prices, labor shortage, etc.

Trends: As the demand for smart-energy-efficient buildings grows, so will the demand for building insulation in the future years. Since building insulation is a form of energy-saving strategy that provides a barrier to heat transfer, it becomes an integral part of construction of smart energy efficient buildings. More trends in the market are believed to grow the building insulation market during the forecast period, which may include increasing number of large-scale housing projects, rising focus on the development of healthcare, institutional, and office workplace infrastructure, and sustainable building insulation materials.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic had a detrimental impact on the global building insulation market. As a result of the pandemic, a decline in demand for building insulation systems were observed, with decline in construction sector, halting of new and renovation of building activities, some enterprises closing their operations, and disruptions in supply chain. In coming years, the market is predicted to grow and recover to the pre-COVID marks, with the increased understanding of the benefits of installing a building insulation system, large public investments to renovate old buildings with green building insulation systems, and encouragement of private investment in the building insulation industry.

Competitive Landscape and Recent Developments:

The global building insulation market is slightly concentrated market. The leading industry participants are favorably investing in technology developments as well as product innovation in order to grow their global presence. Furthermore, corporations are forming strategic alliances, and merging with holding companies in order to reduce operating expenses.

The key players of the global building insulation market are:

Kingspan Group PLC
Rockwool International A/S
Compagnie de Saint-Gobain S.A.
Owens Corning
Kaneka Corporation
Holcim Group (Firestone Building Products)
China National Building Material Company Limited (Beijing New Building Materials PLC)
Huntsman Corporation
Berkshire Hathaway Inc. (Johns Manville Corporation)
Recticel Group
Carlisle Companies Incorporated
Knauf Gips KG (Knauf Insulation)
Synthos SA
Xella International GmbH (URSA)
Hood Companies, Inc. (Atlas Roofing Corporation)

  Scope of the Report

The report titled “Global Building Insulation Market: Analysis By Product Type, By Application, By End Users, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026”, includes:
-An in-depth analysis of the global building insulation market by product type, by application, by end users, by region, etc.
-The regional analysis of the building insulation market, including the following regions:

Europe (Germany, France, UK, Spain, Italy, and Rest of Europe)
North America (The US and Rest of North America)
Asia Pacific (China, Japan, India, Australia & New Zealand, South Korea, and Rest of Asia Pacific)
Latin America
Middle East & Africa
-A detailed analysis of the regional building insulation market by value.
-Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.
-Provides an analysis of the COVID-19 impact on the global building insulation market, with post COVID impact analysis.
-Assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall building insulation market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.
-Evaluation of the potential role of building insulation services to improve the market status.
-Identification of new technological developments, R&D activities, and product launches occurring in the building insulation market.
-In-depth profiling of the key players, including the assessment of the business overview, market strategies, regional and business segments of the leading players in the market.
-The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
-The in-depth analysis provides an insight into the market, underlining the growth rate and opportunities offered in the business.