Building Thermal Insulation Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Building Thermal Insulation Market
The thermal insulation market size was valued at USD 32.53 billion in 2023, and the market is now projected to grow from USD 33.98 billion in 2024 to USD 48.60 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period of 2023-2032.
The change to working from home and shop shutting due to covid-19 has seen a decrease in the demand for office-space and commercial buildings which translate to the slowdown of thermal insulation. The supply chain was broken because of lockdowns and movement restriction. It took longer to procure raw materials and to manufacture the end products and so there was a low availability of thermal insulation materials. Many construction projects got delayed owing to the pandemics, thus the thermal insulation market growth declined.
Thermal insulation of buildings provides consistency in indoor temperatures by limiting the heat exchange between adjacent environments. Moreover, they curb carbon emissions as they do not let heat escape to the surrounding environment and consume less energy to sustain the desired temperature. It has particular properties great for building structures which are resistant to fire and impact. Advanced thermal insulation materials are critically important as they are highly energy efficient for the building and construction industry. This factor is anticipated to drive the thermal insulation market share.
Through DIY products, companies can provide insulation services for the consumers who are not able to pay for professional service. Less time and effort are required to make use of these items which in turn reduce the expenses for consumers. The DIY options would go in for a more affordable route in comparison to the conventional alternatives that have dominated the market.
Comprehensive Analysis of Thermal Insulation Market
The thermal insulation market and Chemicals & Advanced Materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the Chemicals & Advanced Materials industry. These segmentations are methodically segregated By Material Analysis, By Application Analysis and By End-Use Analysis. Market segmentation by material groups includes foam plastics, mineral wool, aerogels, cellulose and others. The stone and glass wool category includes the mineral wool category. Mineral wool is the favorite among most people because some of its properties such as ease of installing it are fascinating. As the market is divided by application, these segments cover floor & basement, walls and roof & ceiling. The introduction of laying boards and spray foams increased the demand for roof & ceiling service by making installation easier during the awkward parts of the roof and attic. By the type of use, the market is divided into residential and other than residential sectors. Residential insulation requirements just exceed non-residential insulation demands. According to the European Commission report on thermal insulation materials for energy efficient buildings, the residential sector is the one which imposes a demand greater than 40% on the primary energy consumption.
The Asia Pacific region stood at USD 15.98 billion in 2023. The region is poised to have the peak growth in the market over the predicted period. What drives the market is the large-scale infrastructure development planned by China, India, and Southeast Asia, in turn making Asia Pacific a major shareholder.
The top players in the market play a crucial role in the Chemicals & Advanced Materials industry assuring industrial prospectus growth and setting market standards. These players include, BASF (Germany), Atlas Roofing Company (U.S.), Cellofoam North America Inc. (U.S.), DuPont (U.S.), Knauf Insulation (U.S.), Owens Corning (U.S.), Armacell S.A. (Luxembourg), Beijing New Building Material (Group) Co., Ltd. (China), Evonik (Germany), PT. Bondor Indonesia (Indonesia), BYUCKSAN (South Korea), Huamei Energy-saving Technology Group Co., Ltd. (China), Johns Manville (U.S.), Kaneka Corporation (Japan), KCC Corporation (South Korea), Kingspan Insulation LLC (Ireland), Lloyd Insulations (India) Limited (India), NICHIAS Corporation (Japan), ROCKWOOL International A/S (Denmark), U.P. Twiga Fiberglass Limited (India), GAF (U.S.), Superglass Insulation Ltd. (Scotland), Recticel Group (Belgium), Ursa (Spain) and Firestone Building Products (U.S.).
In April 2021, Atlas Roofing Company came up with SureSlope prefabricated tapered products. The new insulation product family including phased polyiso roof components is well suitable for roofing works. Besides, it helps to decrease job site waste and is excellent time saver.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 4.5% from 2024 to 2032
Unit Value (USD Billion) and Volume (Million Square Meters)
Segmentation
By Material
- Mineral Wool
Glass Wool
Stone Wool
- Foamed Plastics
Expanded Polystyrene (EPS)
Extruded Polystyrene (XPS)
Polyurethane (PU)
Polyisocyanurate (PIR)
Other Foamed Plastics
- Cellulose
- Aerogels
- Others
By Application
- Floor & Basement
- Walls
- Roof & Ceiling
By End-Use
- Residential
- Non-Residential
By Region
- North America (By Material, By Application, & By End-Use)
U.S. (By End-Use)
Canada (By End-Use)
Mexico (By End-Use)
- Europe (By Material, By Application, & By End-Use)
Germany (By End-Use)
France (By End-Use)
Poland (By End-Use)
U.K. (By End-Use)
Italy (By End-Use)
Spain (By End-Use)
Russia (By End-Use)
Rest of Europe (By End-Use)
- Asia Pacific (By Material, By Application, & By End-Use)
China (By End-Use)
India (By End-Use)
Japan (By End-Use)
South Korea (By End-Use)
Southeast Asia (By End-Use)
Australia & New Zealand
Rest of Asia Pacific (By End-Use)
- Latin America (By Material, By Application, & By End-Use)
Brazil (By End-Use)
Argentina (By End-Use)
Rest of Latin America (By End-Use)
- Middle East & Africa (By Material, By Application, & By End-Use)
GCC (By End-Use)
South Africa (By End-Use)
Rest of Middle East & Africa (By End-Use)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Industry SWOT Analysis
- 4.3. Regulatory Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Material Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID-19 on the Market
- 5. Global Building Thermal Insulation Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Material (Volume/Value)
- 5.2.1. Mineral Wool
- 5.2.1.1. Glass Wool
- 5.2.1.2. Stone Wool
- 5.2.2. Foamed Plastics
- 5.2.2.1. Expanded Polystyrene (EPS)
- 5.2.2.2. Extruded Polystyrene (XPS)
- 5.2.2.3. Polyurethane (PU)
- 5.2.2.4. Polyisocyanurate (PIR)
- 5.2.2.5. Other Foamed Plastics
- 5.2.3. Cellulose
- 5.2.4. Aerogels
- 5.2.5. Others
- 5.3. Application (Volume/Value)
- 5.3.1. Floor & Basement
- 5.3.2. Wall
- 5.3.3. Roof & Ceiling
- 5.4. By End-Use (Volume/Value)
- 5.4.1. Residential
- 5.4.2. Non-Residential
- 5.5. By Region (Volume/Value)
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Building Thermal Insulation Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Material (Volume/Value)
- 6.2.1. Mineral Wool
- 6.2.1.1. Glass Wool
- 6.2.1.2. Stone Wool
- 6.2.2. Foamed Plastics
- 6.2.2.1. Expanded Polystyrene (EPS)
- 6.2.2.2. Extruded Polystyrene (XPS)
- 6.2.2.3. Polyurethane (PU)
- 6.2.2.4. Polyisocyanurate (PIR)
- 6.2.2.5. Other Foamed Plastics
- 6.2.3. Cellulose
- 6.2.4. Aerogels
- 6.2.5. Others
- 6.3. By Application (Volume/Value)
- 6.3.1. Floor & Basement
- 6.3.2. Wall
- 6.3.3. Roof & Ceiling
- 6.4. By End-Use (Volume/Value)
- 6.4.1. Residential
- 6.4.2. Non-Residential
- 6.5. By Country (Volume/Value)
- 6.5.1. U.S.
- 6.5.1.1. By End Use (Volume/Value)
- 6.5.1.1.1. Residential
- 6.5.1.1.2. Non-Residential
- 6.5.2. Canada
- 6.5.2.1. By End Use (Volume/Value)
- 6.5.2.1.1. Residential
- 6.5.2.1.2. Non-Residential
- 6.5.3. Mexico
- 6.5.3.1. By End Use (Volume/Value)
- 6.5.3.1.1. Residential
- 6.5.3.1.2. Non-Residential
- 7. Europe Building Thermal Insulation Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Material (Volume/Value)
- 7.2.1. Mineral Wool
- 7.2.1.1. Glass Wool
- 7.2.1.2. Stone Wool
- 7.2.2. Foamed Plastics
- 7.2.2.1. Expanded Polystyrene (EPS)
- 7.2.2.2. Extruded Polystyrene (XPS)
- 7.2.2.3. Polyurethane (PU)
- 7.2.2.4. Polyisocyanurate (PIR)
- 7.2.2.5. Other Foamed Plastics
- 7.2.3. Cellulose
- 7.2.4. Aerogels
- 7.2.5. Others
- 7.3. By Application (Volume/Value)
- 7.3.1. Floor & Basement
- 7.3.2. Wall
- 7.3.3. Roof & Ceiling
- 7.4. By End-Use (Volume/Value)
- 7.4.1. Residential
- 7.4.2. Non-Residential
- 7.5. By Country (Volume/Value)
- 7.5.1. Germany
- 7.5.1.1. By End-Use (Volume/Value)
- 7.5.1.1.1. Residential
- 7.5.1.1.2. Non-Residential
- 7.5.2. France
- 7.5.2.1. By End-Use (Volume/Value)
- 7.5.2.1.1. Residential
- 7.5.2.1.2. Non-Residential
- 7.5.3. Poland
- 7.5.3.1. By End-Use (Volume/Value)
- 7.5.3.1.1. Residential
- 7.5.3.1.2. Non-Residential
- 7.5.4. UK
- 7.5.4.1. By End-Use (Volume/Value)
- 7.5.4.1.1. Residential
- 7.5.4.1.2. Non-Residential
- 7.5.5. Italy
- 7.5.5.1. By End-Use (Volume/Value)
- 7.5.5.1.1. Residential
- 7.5.5.1.2. Non-Residential
- 7.5.6. Spain
- 7.5.6.1. By End-Use (Volume/Value)
- 7.5.6.1.1. Residential
- 7.5.6.1.2. Non-Residential
- 7.5.7. Russia
- 7.5.7.1. By End-Use (Volume/Value)
- 7.5.7.1.1. Residential
- 7.5.7.1.2. Non-Residential
- 7.5.8. Rest of Europe
- 7.5.8.1. By End-Use (Volume/Value)
- 7.5.8.1.1. Residential
- 7.5.8.1.2. Non-Residential
- 8. Asia-Pacific Building Thermal Insulation Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Material (Volume/Value)
- 8.2.1. Mineral Wool
- 8.2.1.1. Glass Wool
- 8.2.1.2. Stone Wool
- 8.2.2. Foamed Plastics
- 8.2.2.1. Expanded Polystyrene (EPS)
- 8.2.2.2. Extruded Polystyrene (XPS)
- 8.2.2.3. Polyurethane (PU)
- 8.2.2.4. Polyisocyanurate (PIR)
- 8.2.2.5. Other Foamed Plastics
- 8.2.3. Cellulose
- 8.2.4. Aerogels
- 8.2.5. Others
- 8.3. By Application (Volume/Value)
- 8.3.1. Floor & Basement
- 8.3.2. Wall
- 8.3.3. Roof & Ceiling
- 8.4. By End-Use (Volume/Value)
- 8.4.1. Residential
- 8.4.2. Non-Residential
- 8.5. By Country (Volume/Value)
- 8.5.1. China
- 8.5.1.1. By End-Use (Volume/Value)
- 8.5.1.1.1. Residential
- 8.5.1.1.2. Non-Residential
- 8.5.2. India
- 8.5.2.1. By End-Use (Volume/Value)
- 8.5.2.1.1. Residential
- 8.5.2.1.2. Non-Residential
- 8.5.3. Japan
- 8.5.3.1. By End-Use (Volume/Value)
- 8.5.3.1.1. Residential
- 8.5.3.1.2. Non-Residential
- 8.5.4. South Korea
- 8.5.4.1. By End-Use (Volume/Value)
- 8.5.4.1.1. Residential
- 8.5.4.1.2. Non-Residential
- 8.5.5. Southeast Asia
- 8.5.5.1. By End-Use (Volume/Value)
- 8.5.5.1.1. Residential
- 8.5.5.1.2. Non-Residential
- 8.5.6. Australia & New Zealand
- 8.5.6.1. By End-Use (Volume/Value)
- 8.5.6.1.1. Residential
- 8.5.6.1.2. Non-Residential
- 8.5.7. Rest of Asia Pacific
- 8.5.7.1. By End-Use (Volume/Value)
- 8.5.7.1.1. Residential
- 8.5.7.1.2. Non-Residential
- 9. Latin America Building Thermal Insulation Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Material (Volume/Value)
- 9.2.1. Mineral Wool
- 9.2.1.1. Glass Wool
- 9.2.1.2. Stone Wool
- 9.2.2. Foamed Plastics
- 9.2.2.1. Expanded Polystyrene (EPS)
- 9.2.2.2. Extruded Polystyrene (XPS)
- 9.2.2.3. Polyurethane (PU)
- 9.2.2.4. Polyisocyanurate (PIR)
- 9.2.2.5. Other Foamed Plastics
- 9.2.3. Cellulose
- 9.2.4. Aerogels
- 9.2.5. Others
- 9.3. By Application (Volume/Value)
- 9.3.1. Floor & Basement
- 9.3.2. Wall
- 9.3.3. Roof & Ceiling
- 9.4. By End-Use (Volume/Value)
- 9.4.1. Residential
- 9.4.2. Non-Residential
- 9.5. By Country (Volume/Value)
- 9.5.1. Brazil
- 9.5.1.1. By End-Use (Volume/Value)
- 9.5.1.1.1. Residential
- 9.5.1.1.2. Non-Residential
- 9.5.2. Argentina
- 9.5.2.1. By End-Use (Volume/Value)
- 9.5.2.1.1. Residential
- 9.5.2.1.2. Non-Residential
- 9.5.3. Rest of Latin America
- 9.5.3.1. By End-Use (Volume/Value)
- 9.5.3.1.1. Residential
- 9.5.3.1.2. Non-Residential
- 10. Middle East & Africa Building Thermal Insulation Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Material (Volume/Value)
- 10.2.1. Mineral Wool
- 10.2.1.1. Glass Wool
- 10.2.1.2. Stone Wool
- 10.2.2. Foamed Plastics
- 10.2.2.1. Expanded Polystyrene (EPS)
- 10.2.2.2. Extruded Polystyrene (XPS)
- 10.2.2.3. Polyurethane (PU)
- 10.2.2.4. Polyisocyanurate (PIR)
- 10.2.2.5. Other Foamed Plastics
- 10.2.3. Cellulose
- 10.2.4. Aerogels
- 10.2.5. Others
- 10.3. By Application (Volume/Value)
- 10.3.1. Floor & Basement
- 10.3.2. Wall
- 10.3.3. Roof & Ceiling
- 10.4. By End-Use (Volume/Value)
- 10.4.1. Residential
- 10.4.2. Non-Residential
- 10.5. By Country (Volume/Value)
- 10.5.1. South Africa
- 10.5.1.1. By End-Use (Volume/Value)
- 10.5.1.1.1. Residential
- 10.5.1.1.2. Non-Residential
- 10.5.2. GCC
- 10.5.2.1. By End-Use (Volume/Value)
- 10.5.2.1.1. Residential
- 10.5.2.1.2. Non-Residential
- 10.5.3. Rest of Middle East & Africa
- 10.5.3.1. By End-Use (Volume/Value)
- 10.5.3.1.1. Residential
- 10.5.3.1.2. Non-Residential
- 11. Competitive Landscape
- 11.1. Global Building Thermal Insulation Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 11.2. Company Profiles
- 11.2.1. BASF SE
- 11.2.1.1. Overview
- 11.2.1.2. Description
- 11.2.1.3. Material Portfolio
- 11.2.1.4. Financials (As per Availaibity)
- 11.2.1.5. Recent Developments
- 11.2.2. Atlas Roofing Company
- 11.2.2.1. Overview
- 11.2.2.2. Description
- 11.2.2.3. Material Portfolio
- 11.2.2.4. Financials (As per Availaibity)
- 11.2.2.5. Recent Developments
- 11.2.3. Cellofoam North America Inc.
- 11.2.3.1. Overview
- 11.2.3.2. Description
- 11.2.3.3. Material Portfolio
- 11.2.3.4. Financials (As per Availaibity)
- 11.2.3.5. Recent Developments
- 11.2.4. DuPont
- 11.2.4.1. Overview
- 11.2.4.2. Description
- 11.2.4.3. Material Portfolio
- 11.2.4.4. Financials (As per Availaibity)
- 11.2.4.5. Recent Developments
- 11.2.5. Knauf Insulation
- 11.2.5.1. Overview
- 11.2.5.2. Description
- 11.2.5.3. Material Portfolio
- 11.2.5.4. Financials (As per Availaibity)
- 11.2.5.5. Recent Developments
- 11.2.6. Owens Corning
- 11.2.6.1. Overview
- 11.2.6.2. Description
- 11.2.6.3. Material Portfolio
- 11.2.6.4. Financials (As per Availaibity)
- 11.2.6.5. Recent Developments
- 11.2.7. Armacell S.A.
- 11.2.7.1. Overview
- 11.2.7.2. Description
- 11.2.7.3. Material Portfolio
- 11.2.7.4. Financials (As per Availaibity)
- 11.2.7.5. Recent Developments
- 11.2.8. Beijing New Building Material (Group) Co., Ltd.
- 11.2.8.1. Overview
- 11.2.8.2. Description
- 11.2.8.3. Material Portfolio
- 11.2.8.4. Financials (As per Availaibity)
- 11.2.8.5. Recent Developments
- 11.2.9. Evonik
- 11.2.9.1. Overview
- 11.2.9.2. Description
- 11.2.9.3. Material Portfolio
- 11.2.9.4. Financials (As per Availaibity)
- 11.2.9.5. Recent Developments
- 11.2.10. PT. Bondor Indonesia
- 11.2.10.1. Overview
- 11.2.10.2. Description
- 11.2.10.3. Material Portfolio
- 11.2.10.4. Financials (As per Availaibity)
- 11.2.10.5. Recent Developments
- 11.2.11. BYUCKSAN
- 11.2.11.1. Overview
- 11.2.11.2. Description
- 11.2.11.3. Material Portfolio
- 11.2.11.4. Financials (As per Availaibity)
- 11.2.11.5. Recent Developments
- 11.2.12. Huamei Energy-saving Technology Group Co., Ltd.
- 11.2.12.1. Overview
- 11.2.12.2. Description
- 11.2.12.3. Material Portfolio
- 11.2.12.4. Financials (As per Availaibity)
- 11.2.12.5. Recent Developments
- 11.2.13. Johns Manville
- 11.2.13.1. Overview
- 11.2.13.2. Description
- 11.2.13.3. Material Portfolio
- 11.2.13.4. Financials (As per Availaibity)
- 11.2.13.5. Recent Developments
- 11.2.14. Kaneka Corporation
- 11.2.14.1. Overview
- 11.2.14.2. Description
- 11.2.14.3. Material Portfolio
- 11.2.14.4. Financials (As per Availaibity)
- 11.2.14.5. Recent Developments
- 11.2.15. KCC Corportion
- 11.2.15.1. Overview
- 11.2.15.2. Description
- 11.2.15.3. Material Portfolio
- 11.2.15.4. Financials (As per Availaibity)
- 11.2.15.5. Recent Developments
- 11.2.16. Kingspan Insulation LLC
- 11.2.16.1. Overview
- 11.2.16.2. Description
- 11.2.16.3. Material Portfolio
- 11.2.16.4. Financials (As per Availaibity)
- 11.2.16.5. Recent Developments
- 11.2.17. Lloyd Insulations (India) Limited
- 11.2.17.1. Overview
- 11.2.17.2. Description
- 11.2.17.3. Material Portfolio
- 11.2.17.4. Financials (As per Availaibity)
- 11.2.17.5. Recent Developments
- 11.2.18. NICHIAS Corporation
- 11.2.18.1. Overview
- 11.2.18.2. Description
- 11.2.18.3. Material Portfolio
- 11.2.18.4. Financials (As per Availaibity)
- 11.2.18.5. Recent Developments
- 11.2.19. ROCKWOOL International A/S
- 11.2.19.1. Overview
- 11.2.19.2. Description
- 11.2.19.3. Material Portfolio
- 11.2.19.4. Financials (As per Availaibity)
- 11.2.19.5. Recent Developments
- 11.2.20. U.P. Twiga Fiberglass Limited
- 11.2.20.1. Overview
- 11.2.20.2. Description
- 11.2.20.3. Material Portfolio
- 11.2.20.4. Financials (As per Availaibity)
- 11.2.20.5. Recent Developments
- 11.2.21. GAF
- 11.2.21.1. Overview
- 11.2.21.2. Description
- 11.2.21.3. Material Portfolio
- 11.2.21.4. Financials (As per Availaibity)
- 11.2.21.5. Recent Developments
- 11.2.22. Superglass Insulation Ltd.
- 11.2.22.1. Overview
- 11.2.22.2. Description
- 11.2.22.3. Material Portfolio
- 11.2.22.4. Financials (As per Availaibity)
- 11.2.22.5. Recent Developments
- 11.2.23. Reciticel Group
- 11.2.23.1. Overview
- 11.2.23.2. Description
- 11.2.23.3. Material Portfolio
- 11.2.23.4. Financials (As per Availaibity)
- 11.2.23.5. Recent Developments
- 11.2.24. Ursa
- 11.2.24.1. Overview
- 11.2.24.2. Description
- 11.2.24.3. Material Portfolio
- 11.2.24.4. Financials (As per Availaibity)
- 11.2.24.5. Recent Developments
- 11.2.25. Firestone Building Products
- 11.2.25.1. Overview
- 11.2.25.2. Description
- 11.2.25.3. Material Portfolio
- 11.2.25.4. Financials (As per Availaibity)
- 11.2.25.5. Recent Developments
- 12. Strategic Recommendations
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook