The global building thermal insulation
market is anticipated to reach USD 36.9 billion by 2025. The demand for energy
is on a rise in the developed as well as developing countries and so is the
price of energy.
Insulating homes help in curbing up to
20% of the regular energy costs as it considerably reduces the cooling and
warming prices during summers and winters. All these factors have propelled the
demand for thermal insulation market in residential as well as commercial
buildings. Re-insulation of old houses provides a lucrative opportunity.
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Europe is expected to account for the
largest demand owing favorable government regulations. Asia Pacific is
anticipated to emerge as the fastest growing region, and China is likely to
account for a major share of the market. Other countries in this region such as
the Philippines, Indonesia are expected to witness rapid growth in upcoming
years.
The market is mature and owing to large
numbers of players it is considered to be price sensitive. Implementation of
stringent regulation poses a major challenge to most of the market participants
but this, in turn, is likely to result in high industry rivalry.
Further
Key Findings from the Study Suggest:
Asia Pacific is expected to gain 1.0%
market share by 2025 and is anticipated to grow at highest estimated CAGR of
4.2% during the forecast period
Asia Pacific is characterized by high
insulation demand in residential and commercial buildings
Europe building thermal insulation is
expected to grow at an estimated CAGR of 3.5% from 2016 to 2025
EU initiatives to promote thermal
insulation as a means of energy conservation strategy are expected to support
the market growth in Europe
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Residential construction emerged as the largest
segment with 50% of the total market demand in 2015
Expanded polystyrene (EPS) is projected
to grow at the highest CAGR on account of its exceptional thermal insulation
property
Expanded polystyrene (EPS) accounted for
29.6% of market share by volume in 2015
Influential companies operating in this
market include Dow Building Solutions, Owens Corning Corp., Johns Manville
Corporation, Huntsman International LLC, CertainTeed Corporation, Kingspan
Group PLC, BASF Polyurethanes, Saint-Gobain S.A., etc.
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