Thermal insulation helps in maintaining a pleasant indoor temperature by reducing heat transfer. Building thermal insulation lessens the carbon footprint as it uses less energy to maintain temperature. It also limits the conduction of heat to the external environment, protecting the homes and buildings. The global building thermal insulation market size was close to USD 25.69 billion by revenue in 2020 and is anticipated to rise at a CAGR of 3.66% to reach around USD 30.75 billion over the foreseen period.
Market drivers and restraints:
The government and non-government support drive the global building thermal insulation market along with the rising number of manufacturing units. The government bodies support thermal insulation as part of energy conservation practices and offer tax advantages and rebates for the same. Moreover, with fast urbanization, broad usage in applications, and escalated investments in construction, the market demand for the building thermal insulation is projected to proliferate.
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Report segmented as:
· Mineral wool
· PU Foam
By end use:
North America is the biggest consumer of insulation materials, and the revived growth in the construction industry in the region is estimated to drive the growth of insulation materials in the coming years. The market in Europe is mostly dependent upon re-insulation of old buildings. The Asia Pacific is the quickest growing region for building thermal insulation market, primarily driven by non-residential insulation.
Important market players:
The major players of Global Building Thermal Insulation Market are 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.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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