Lucintel Forecasts Building Thermal Insulation Market to Reach $40.5 Billion by 2027

Building Thermal Insulation Market

According to the recent study the building thermal insulation market is projected to reach an estimated $40.5 billion by 2027 from $30.9 billion in 2021, at a CAGR of 4.6% from 2021 to 2027. Growth in this market is primarily driven by growth in building and construction industry and stringent government regulations for reduction of greenhouse gas emission and to increase energy efficiency.

Browse 150 figures / charts and 70 tables in this 180 -page report to understand trends, opportunities and forecast in building thermal insulation market by material (plastic foam, fiberglass, stone wool, and others), application (walls, roofs, and floors), end use (residential and non-residential), and region (North America, Europe, APAC and ROW).

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“Fiberglass market is expected to remain the largest segment during the forecast period.”   

Based on material, the building thermal insulation market is segmented into plastic foam, fiberglass, stone wool, and others. Lucintel forecasts that the fiberglass is expected to witness the largest segment and are expected to witness the highest growth over the forecast period due to its environment-friendly and better flame-retardant properties.

“Within the building thermal insulation market, the residential segment is expected to remain the largest end use industry”    

Based on end use industry, the residential segment is expected to witness the largest segment and it is also expected to witness the highest growth over the forecast period, supported by the growth in housing demand and increasing awareness of energy efficiency would spur growth for this segment over the forecast period.

“Europe will dominate the building thermal insulation market in near future”

Europe is expected to be the largest region due to stringent government regulations to lower energy consumption and reduction in greenhouse gas emissions. Asia Pacific is expected to witness good growth over the forecast period because of increasing awareness of energy efficiency and growth in housing demand.

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Major players of building thermal insulation market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Owens Corning, Kingspan Group, Saint-Gobain, Rockwool, and BASF are among the major building thermal insulation providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/building-thermal-insulation-market.aspx or helpdesk@lucintel.com

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