The global building thermal insulation market size is anticipated to grow from USD 28.89 billion in 2020 to 29.85 billion in 2021 and is projected to hit USD 40.34 billion by 2028 and exhibit a CAGR of 4.4% during the forecast period. Building thermal insulation help in energy usage reduction in buildings by preventing heat transfer through the building encasement. It has witnessed steep demand in recent years due to swift industrialization and urbanization. The growing concerns regarding power conservation across residential and commercial applications are expected to surge the market growth. Fortune Business Insights™ has presented this information in its report titled, “Building Thermal Insulation Market, 2021-2028”.
Key Players in this Market are:
- 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)
Report Coverage-
- The report focuses on the regional and global analysis for the prospected market.
- The report provides detailed information on different product types and segments.
- The report highlights strategies of growth for companies to wade through the COVID-19 pandemic.
- The report incorporates PESTLE Analysis and Porters’ Five Forces Analysis for an unerring prediction.
- The report focuses on the competitive landscape of the prospected market and highlights industry developments, new product launches, key market trends, etc.
Drivers & Restraints-
Thermal insulation systems in buildings help to reduce carbon emissions by using less energy input and limiting the heat conduction to the external environment. They also offer impact and fire resistance to building structures which augments their demand in the construction industry. Due to rapid urbanization and industrialization, the increasing construction activities are anticipated to bolster the global building thermal insulation market growth.
Thermal insulation systems also help to reduce energy costs. The high energy costs are expected to boost the demand for the product across commercial and residential applications and foster market growth. The companies operating in the market have launched Do-It-Yourself (DIY) insulation products for customers who cannot afford insulation technicians. The development of DIY products by key companies such as Ecofoam Insulation & Coatings, Owens Corning, and Knauf Insulation is expected to boost the market’s growth in the forthcoming years.
However, the health-related issues of the insulation products are likely to restrain the growth of the market.
Browse Detailed Summary of Research Report: https://www.fortunebusinessinsights.com/building-thermal-insulation-market-102708
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