Market Research Future published a cooked research report on global building insulation material market. The building insulation material market is expected to grow at a CAGR of around 3.49% during the period, 2017 to 2023.
Building insulation is made up of materials that form a thermal envelope of a building and reduce heat transfer. Various materials such as glass wool, stone wool, and EPS, are used to manufacture insulation products. These are used across residential, and non-residential applications.
There are various organizations and departments across the globe that govern the application of insulation in construction. This induces the market of building insulation material on a global level. Such bodies and organizations govern the application of building insulation in various systems and structures of a building. These regulations change with the region and country and governments are getting stringent with such policies to promote energy efficiency in construction. This has spiked the demand for building insulation materials, across the globe.
The industry faces a shortage of skilled workers. It has been seen that there is a lack of experienced and trained workers and officers, required for the growth of the industry. This is also the reason for the concentration of manufacturing facilities in few regions. This might hamper the market growth in the long run.
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Market Research Analysis
The building insulation material market has witnessed moderate growth over the last few years and as per analysis, the market will retain this growth rate during the forecast period. In the report, the market has been divided into the following material stone wool, glass wool, EPS, XPS, and others. Glass wool is the largest segment in building insulation market, by material. Glasswool is the most common form of insulation used in residential buildings around the world. The segment accounts for 33.31% of market share in 2016 and is expected to grow at 3.61% CAGR during the forecast period.
In the report, the market has been divided into the applications of walls, roofs, and floors. Walls is the dominating segment of building insulation material market. Insulating walls in a home or building is critical to achieving high energy efficiency. A big factor in the effectiveness is how well the wall cavity is sealed by the insulation. But cellulose insulation is just as effective while offering other advantages. The segment accounts for 46.88% market share and is expected to grow at 4.22% CAGR during the forecast period.
Global Building Insulation Material Market, 2016-2023 (USD Million)
- BASF SE
- Rockwool International A/S
- Owens Corning Corporation
- Paroc Group Oy
- Lloyd Insulations Limited
- Knauf Insulation, Inc.
- Johns Manville Inc.
- GlassRock Insulation Company SAE
- Saint-Gobain S.A
- Kingspan Group Plc.
Scope of the Report
This study provides an overview of the global building insulation material market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global building insulation material market by its material, application, end-user and region.
Global Building Insulation Material Market, By Material
- Stone Wool
- Glass Wool
Global Building Insulation Material Market, By Application
Global Building Insulation Material Market, By End-user
Global Building Insulation Materials Market, By Region
- North America
- Rest Of the World (ROW)
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