Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "Thermal Insulation - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Thermal Insulation Market to Reach $99.6 Billion by 2030
The global market for Thermal Insulation estimated at US$68.5 Billion in the year 2023, is projected to reach a revised size of US$99.6 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2023-2030.
The global economic update sets the backdrop for the unchanging significance of thermal insulation in an evolving world, highlighting its role as a cornerstone for growth in the market. Despite volatility in global oil prices and ongoing geopolitical uncertainties, thermal insulation remains essential for various industries.
Fiber Glass Insulation, one of the segments analyzed in the report, is projected to record 5.1% CAGR and reach US$37.1 Billion by the end of the analysis period. Growth in the Plastic Foam segment is estimated at 4.8% CAGR for the next 8-year period.
Competition in the thermal insulation market is reflected through the global key competitors' percentage market share in 2023, alongside an assessment of competitive market presence ranging from strong and active to niche or trivial for players worldwide. Influencer insights and technological advancements further underscore the importance of thermal insulation in various sectors.
Recent market activity indicates ongoing developments and innovations in the thermal insulation market, driven by the need for sustainable solutions and energy efficiency. Overall, thermal insulation remains a critical component in addressing contemporary challenges and driving growth in the global economy.
The U.S. Market is Estimated at $16.9 Billion, While China is Forecast to Grow at 8.6% CAGR
The Thermal Insulation market in the U.S. is estimated at US$16.9 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$11.6 Billion by the year 2030 trailing a CAGR of 8.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 634 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $68.5 Billion |
| Forecasted Market Value (USD) by 2030 | $99.6 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- The Unchanging Significance of Thermal Insulation in an Evolving World Remains the Cornerstone for Growth in the Market
- Global Economic Update
- Global Oil Prices Remain Volatile Amid Acute Geopolitical Uncertainty & Tensions that Heighten Threat of Market Shocks: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
- While Still Not in the Comfort Zone, the Expected Steeper Fall in Inflation in 2024 Can Cushion Economic Growth: Global Inflation Rates (In %) for the Years 2019 through 2025
- Mild Slowdown on Cards for 2024, as the Global Economy Attempts to Balance Recovery While Navigating Through Wars, Political Conflicts & Decades-High Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
- Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
- Competition
- Thermal Insulation - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Influencer/Product/Technology Insights
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Focus on Energy Efficiency as a Key Aspect of Sustainability Expands the Addressable Market Opportunity for Thermal Insulation
- Encouraging Outlook for Automobile Production in 2024, Despite Disruptions, Bodes Well for Automotive Thermal Insulation Solutions
- Encouraging Recovery in Automobile Production, Notwithstanding the Many Challenges, Offers Hope for Players in the Value Chain Including Manufacturers of Auto-Grade Thermal Insulation Materials: Global Light Vehicle Production (In Million Units) for Years 2019 through 2025
- Growing Demand for Lithium Ion Battery Drives Opportunities for Thermal Insulation Materials
- Robust Demand for Lithium Ion Batteries Drives Up the Importance of Battery Thermal Insulation: Global Market for Lithium-Ion (Li-ion) Batteries (In US$ Million) for Years 2023, 2025 and 2027
- A Recovering Construction Industry Drives Demand for Thermal Insulation Materials
- Growing Construction Spending to Create a Parallel Rise in Demand for Thermal Insulation Materials: Global Construction Spending (in US$ Trillion) for the Years 2020, 2022, 2024, 2026 and 2028
- Industrial Thermal Insulation is Poised for Healthy Growth. Here's the Story
- Myriad Benefits of Mechanical Insulation Drive Widespread Adoption
- Sustainable Thermal Insulation Storms Into the Spotlight
- As Global Pollution Continues to Rise, Sustainable Thermal Insulation Materials Move Up in Market Value: Global CO2 Emissions (In Billion Metric Tons) for Years 1930, 1940, 1950, 1960, 1970, 1980, 1990, 2000, 2010, 2020, 2021, 2022 & 2023
- Continued Innovations Remain Crucial for Growth
- Microporous Insulation Rises in Popularity
FOCUS ON SELECT PLAYERS(Total 152 Featured)
- Armacell LLC
- Asahi Kasei Corporation
- BASF SE
- Covestro AG
- Dow, Inc.
- DuPont de Nemours, Inc.
- Insulcon BV
- Isolatek International
- Johns Manville Corporation
- Kingspan Group PLC
- Owens Corning
- Rockwool International A/S
- Saint-Gobain SA
- Thermax Jackets
- URSA Insulation SA
For more information about this report visit https://www.researchandmarkets.com/r/z57yge
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