Global Building Insulation Materials Market is valued at approximately USD 27 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4% over the forecast period 2022-2029. The building insulation materials are the type of materials that are formed through the thermal envelope of a building, thereby reducing the heat transfer off from the building. The Building Insulation Materials market is expanding because of factors such as increasing infrastructural and construction activities and rising demand for energy efficiency. The market for the Building Insulation Materials may rise in the forecast period, owing to Rising disposable income and rapid urbanization in the global market. However, high cost of insulation materials may halt market growth.
Rising construction projects, globally has envisaged a tremendous pace. According to Statista, the construction industry spending is expected to go to USD 19.2 Trillion, by the year 2035 from USD 16.2 Trillion, by the year end 2028 and USD 12.5 Trillion, in the year end 2020. Additionally, according to Statista, in 2020, 81.41% of the total South Korea's population lived in urban areas and cities. Further, with rapid increase of the chemical, construction, and automotive sectors in the region. There will be fostering of the residential and commercial activities that will consequently pave the way for growth of the Building Insulation Materials market.
The key regions considered for the Global Building Insulation Materials Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the space in terms of revenue, owing to rising numbers of construction projects for instance:. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to rising growth of R&D activities.
Major market players included in this report are:
Rockwool International A/S
Atlas Roofing Corporation
Beijing New Building Material (Group) Co Ltd
Huntsman International LLC
Knauf Gips KG
Recent Developments in the Market:
In July 2021, Owens Corning acquired vliepa GmbH. The main aim of this acquisition was to acquire the assets and the product line of vliepa GmbH. Also, this combination expanded the company's global nonwovens portfolio for accelerating its growth by strengthening its offerings to European building and construction markets.
Global Building Insulation Materials Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type and Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Polyurethane/ Polyisocyanurate Foam
Other Insulation Materials
Rest of the World