New York, July 06, 2023 (GLOBE NEWSWIRE) -- The global building insulation materials market size is projected to reach USD 55.49 Billion by 2033, according to a report by Persistence Market Research. The market is expected to grow at a CAGR of 5.9% during the forecast period (2023-2033).
The growth of the market is driven by the increasing demand for energy-efficient buildings, rising awareness about the benefits of insulation, and government regulations pertaining to energy conservation.
Introduction
Building insulation plays a crucial role in enhancing energy efficiency and reducing greenhouse gas emissions in the construction sector. Insulation materials are used to minimize heat transfer between the interior and exterior of a building, thereby reducing the need for heating and cooling systems. The global building insulation materials market has witnessed significant growth in recent years, driven by increasing construction activities, rising energy costs, and growing awareness regarding environmental sustainability. This research report aims to provide a comprehensive analysis of the building insulation materials market, including market trends, drivers, challenges, and key players.
Stay Ahead of the Competition with our Free Sample Report@ https://www.persistencemarketresearch.com/samples/31254
Methodology
The research report is based on a combination of primary and secondary research. Primary research involved interviews and discussions with industry experts, including manufacturers, suppliers, and distributors of building insulation materials. Secondary research involved collecting data from various sources such as industry reports, company websites, trade journals, and government publications. The data collected was analyzed and synthesized to provide insights into the building insulation materials market.
Market Trends
- Increasing demand for energy-efficient buildings
- Rising awareness about the benefits of insulation
- Government regulations pertaining to energy conservation
- Development of new and innovative insulation materials
- Growth of the green building market
Market Restrain
Here are some of the key drivers and challenges of the building insulation materials market:
Drivers:
- Increasing demand for energy-efficient buildings
- Rising awareness about the benefits of insulation
- Government regulations pertaining to energy conservation
- Development of new and innovative insulation materials
- Growth of the green building market
Challenges:
- High cost of insulation materials
- Technical challenges associated with the installation of insulation materials
- Lack of awareness about the benefits of insulation in some regions
Get a customized report that meets your specific needs Click Here@ https://www.persistencemarketresearch.com/request-customization/31254
Market Key Players
The building insulation materials market is highly competitive, with several key players operating globally. These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Some of the prominent players in the market include:
BASF SE, Dow Inc., GAF Materials corporation, Knauf Insulation, Saint-Gobain S.A, GlassRock Insulation Company SAE, Rockwool International A/S, Owens Corning Inc., Lloyd Insulations Limited, Covestro AG, Kingspan Group Plc., Beijing New Building Material, Cabot Corporation, Johns Manville, Altana AG, Aspen Aerogels Inc., CNBM Group Co. Ltd., Huntsman International LLC and more
Recent Developments
- Owens Corning announced in 2022 that it is investing USD 100 million in a new manufacturing facility in South Carolina. The facility will produce fiberglass insulation for use in residential and commercial buildings.
- Knauf Insulation announced in 2022 that it is expanding its production capacity in Europe. The expansion will include a new factory in Poland and a new production line in Germany.
- BASF announced in 2022 that it is launching a new line of polyurethane insulation products. The products are designed to be more sustainable and energy-efficient than traditional polyurethane insulation products.
- Rockwool International announced in 2022 that it is opening a new research and development center in China. The center will focus on developing new insulation materials for use in the Chinese market.
- Saint-Gobain announced in 2022 that it is acquiring the insulation business of Thermafiber. The acquisition will give Saint-Gobain a stronger foothold in the North American insulation market.
If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/31254
Market Segmentations
The market is segmented by type, end-use, and region.
By type, the market is segmented into fiberglass, mineral wool, cellulose, polyurethane/polyisocyanurate foam, polystyrene, and others. Fiberglass is the most widely used type of building insulation material, accounting for a major share of the market. This is due to its low cost, high performance, and ease of installation. Mineral wool is another major type of building insulation material, and is used in a variety of applications, including walls, roofs, and floors. Cellulose is a growing type of building insulation material, and is gaining popularity due to its environmental benefits.
By end-use, the market is segmented into residential and non-residential buildings. The residential segment is the largest market for building insulation materials, and is expected to continue to grow during the forecast period. This is due to the increasing demand for energy-efficient homes and the rising awareness about the benefits of insulation. The non-residential segment is also expected to grow during the forecast period, due to the increasing demand for energy-efficient commercial buildings.
By region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is the largest market for building insulation materials, and is expected to continue to grow during the forecast period. This is due to the increasing demand for energy-efficient buildings and the stringent government regulations pertaining to energy conservation. Europe is the second-largest market for building insulation materials, and is expected to grow at a steady pace during the forecast period. Asia-Pacific is a growing market for building insulation materials, and is expected to witness significant growth during the forecast period. This is due to the increasing demand for energy-efficient buildings and the rising awareness about the benefits of insulation in emerging economies such as China and India.
Other Trending Reports:
- Chromatographic Silica Resins Industry
- White Oil Market Sale
- Masterbatches Manufacturers
- Calendering Resins Market Sale
- Demand for Synthetic Rope
- Microcrystalline Wax Market Sale
- Anti-Graffiti Coatings Industry
- Xanthates Market Sale
About PMR – Chemicals and Materials
The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – ‘The Way Forward’.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
