Key Players:
Knauf Insulation, Rockwool International A/S, Johns Manville Inc., Atlas Roofing Corporation, BASF SE, Owens Corning Corporation, Certain Teed Corporation, Dow Building solutions, Paroc Group, Huntsman International LLC, Saint-Gobain Group, Johns Manville Inc., Knauf Insulation GmbH, GAF Material Corporation, Beijing New Building Material Co. Ltd. and Kingspan Group Plc. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Building Thermal Insulation Market Market.
Global Building Thermal Insulation Market - Overview
Insulation is one of the most important, cost-effective, energy saving building materials in a home. Building Thermal Insulation Market are materials that reduce the amount of power required to heat or cool a house. Insulation keeps your home cooler in the summer and warmer in the winter.
According to a recent study report published by the Market Research Future, The global market of Building Thermal Insulation Market is booming and expected to gain prominence over the forecast period. The global Building Thermal Insulation Market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2016 – 2023).
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Currently, the Building Thermal Insulation Market is spurting mainly due to the stringent regulations regarding reduction of greenhouse gas emissions to drive the Building Thermal Insulation Market. Moreover, increasing FDI in construction in emerging nations and supportive government regulations and policies also fuel the growth of the market. Governments across all regions are seen promoting and developing their construction & infrastructure sector. The emerging nations are particularly bringing various reforms and regulations to boost their infrastructure growth and real-estate market. In China the central policies on housing were relaxed, the lowest down payment ratio decreased in 2016. Cheaper down payments encouraged more homebuyers to borrow money from banks. This in turn pushed the construction industry, which ultimately led to the increased demand for Building Thermal Insulation Market. However, lack of awareness among the consumers is the factor that may hinder the market growth of the market.
Building Thermal Insulation Market Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Building Thermal Insulation Market appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Building Thermal Insulation Market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Industry News
In November 2017, ROCKWOOL has acquired 180,000 square metres of land in the east of Sweden, to construct a manufacturing facility of stone wool thermal insulation.
In September 2016, Knauf Insulation is giving contractors and builders a simple way to install complete acoustical and thermal comfort in any wall cavity with the introduction of JetSpray Thermal Insulation System, a high-performance, spray-on glass mineral wool.
Building Thermal Insulation Market - Segmentation
Global Building Thermal Insulation Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
Segmentation:
On the basis of material, global Building Thermal Insulation Market is segmented into Fiber glass, Mineral Wool, PU Foam, and others. Plastic foam dominates the material segment of the market. Factors such as higher thermal resistance (R-Value), versatility, strength, and life span driving the demand of the material. The glass wool segment is expected to witness the highest growth during the forecast period. Lightweight, non-combustible, high tear strength, and corrosion-resistant properties drive the demand for glass wool material. Additionally, increasing usage in masonry cavity walls, timber frame walls, roof rafter, flat roofs, loft, and suspended floor insulations also increase the material demand.
Based on application, global Building Thermal Insulation Market is segmented into Residential, Commercial, and others. Residential sector dominated the application segment of the market. Increasing housing sector in countries such as the US, India, and China, and the growing awareness regarding energy efficient buildings and rising cost of energy also drive the demand for thermal insulation in residential buildings. Commercial segment is estimated to be the fastest growing application during the forecast period.
On the basis of end use, global Building Thermal Insulation Market is segmented into Roof, Walls and Floors. Walls dominates the end use segment of the market. Roof is the second largest application segment. A roof is the most prominent source of heat penetration from direct sunrays and thus needs proper isolation to maintain optimal temperatures.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Global Building Thermal Insulation Market - Regional Analysis
North America region dominates the global Building Thermal Insulation Market. Increasing demand for residential housing and increased government support in the form of rebate and other tax benefits to the construction companies driving the growth of the market in the region. Europe is other major region for the market. Building safety codes in countries such as U.K., Germany, and France driving the demand of the market in the region.
The Asia-Pacific region is expected to be the fastest growing region for the Building Thermal Insulation Market. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. Additionally, energy conservation initiatives to reduce greenhouse gas emissions also have the positive influence on the growth of the market.
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