The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The building thermal insulation market has been on a steady growth trajectory, witnessing an increase from $29.76 billion in 2023 to a projected $30.75 billion in 2024, with a compound annual growth rate (CAGR) of 3.3%. This growth in the historic period is attributed to several factors, including energy efficiency regulations and building codes, heightened awareness of environmental sustainability and energy conservation, an upswing in the construction industry, fluctuating energy prices, and government incentives.

Future Growth Anticipation
The building thermal insulation market is expected to continue its upward trend, reaching $35.83 billion in 2028, showcasing a CAGR of 3.9%. This forecasted growth is attributed to climate change mitigation efforts, the imperative need for energy-efficient buildings, the adoption of green building certifications and standards, ongoing research and development focusing on high-performance and sustainable insulation materials, the rising demand for passive house and zero-energy building designs, and the impacts of urbanization and population growth. Notable trends in the forecast period include the emergence of biodegradable and sustainable insulation materials, aerogel insulation, prefabricated insulation panels, high-performance insulation tailored for cold climates, and specialized insulation solutions for aging buildings.

Green Building Construction: A Catalyst for Growth

Green Building Surge: The construction of green buildings is emerging as a significant driver for the building thermal insulation market. Green buildings, designed to minimize or eliminate harmful effects on the climate and natural environment, have witnessed a substantial increase globally.

Impact on the Market: Building thermal insulation plays a pivotal role in constructing energy-efficient green buildings, contributing to natural cooling and environmental preservation. Noteworthy statistics include a 37% increase in green-certified buildings in India and a substantial growth of green assets in the country, as reported by Times Property and CBRE.

Global Greening Initiatives: Internationally, organizations such as the Singapore Green Building Council report that nearly half of Singapore’s buildings are green, with projections indicating an 80% increase by 2030. The global rise in green building construction is undeniably fueling the growth of the building thermal insulation market.

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Technological Advancements in Insulation

Key Trend: Technological Advancements: Technological innovation stands out as a key trend shaping the building thermal insulation market. Companies in the sector are focusing on introducing cutting-edge technologies to gain a competitive edge.

Concrete Climate Control System: An example of this trend is ACC Ltd., an India-based building material manufacturer, which introduced ACC Atrium, a thermal-insulating climate control concrete system in March 2022. This innovative product, utilizing unique insulating technology, insulates roofs during construction, offering sustainability and fire resistance for both residential and commercial purposes.

Strategic Moves and Acquisitions

Strategic Acquisition: Owens Corning and Vliepa GmbH: In August 2021, Owens Corning, a US-based manufacturer of fiberglass composites, roofing, insulation, and related materials, acquired Vliepa GmbH, a Germany-based company specializing in insulation, roofing membranes, and thermal roofing construction. This strategic move enhances Owens Corning’s nonwoven range and strengthens its support for European customers in building and industrial insulation.

Market Segmentation and Regional Dominance

Biosurfactants Market Segmentation: The building thermal insulation market is segmented based on material, product, application, and end-use:

1. Material:
   • Foamed Plastic
   • Mineral Wool
   • Aerogels
   • Cellulose
   • Other Materials
2. Product:
   • Glass Wool
   • Mineral Wool
   • Expanded Polystyrene (EPS)
   • Extruded Polystyrene (XPS)
   • Other Products
3. Application:
   • Roof Insulation
   • Wall Insulation
   • Floor Insulation
4. End Use:
   • Residential
   • Commercial
   • Industrial

Regional Dominance: Asia-Pacific emerged as the largest region in the building thermal insulation market in 2023.

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The Building Thermal Insulation Global Market Report 2024  provides comprehensive insights on the building thermal insulation market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the building thermal insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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