Global Building Thermal Insulation Market - Overview
Insulation is one of the most important, cost-effective, energy saving building materials in a home. Building thermal insulation are materials that reduce the amount of power required to heat or cool a house. Insulation keeps your home cooler in the summer and warmer in the winter.
Currently, the building thermal insulation market is spurting mainly due to the stringent regulations regarding reduction of greenhouse gas emissions to drive the building thermal insulation market. Moreover, increasing FDI in construction in emerging nations and supportive government regulations and policies also fuel the growth of the market. Governments across all regions are seen promoting and developing their construction & infrastructure sector. The emerging nations are particularly bringing various reforms and regulations to boost their infrastructure growth and real-estate market. In China the central policies on housing were relaxed, the lowest down payment ratio decreased in 2016. Cheaper down payments encouraged more homebuyers to borrow money from banks. This in turn pushed the construction industry, which ultimately led to the increased demand for building thermal insulation. However, lack of awareness among the consumers is the factor that may hinder the market growth of the market.
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Global Key Players:
Rockwool International A/S
Johns Manville Inc.
Atlas Roofing Corporation
Owens Corning Corporation
Certain Teed Corporation
Dow Building solutions
Huntsman International LLC
Johns Manville Inc.
Knauf Insulation GmbH
GAF Material Corporation
Beijing New Building Material Co. Ltd.
Kingspan Group Plc.
Building Thermal Insulation Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of building thermal insulation appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Building Thermal Insulation market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Building Thermal Insulation Market - Segmentation
Global Building Thermal Insulation Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
On the basis of material, global building thermal insulation market is segmented into Fiber glass, Mineral Wool, PU Foam, and others. Plastic foam dominates the material segment of the market. Factors such as higher thermal resistance (R-Value), versatility, strength, and life span driving the demand of the material. The glass wool segment is expected to witness the highest growth during the forecast period. Lightweight, non-combustible, high tear strength, and corrosion-resistant properties drive the demand for glass wool material. Additionally, increasing usage in masonry cavity walls, timber frame walls, roof rafter, flat roofs, loft, and suspended floor insulations also increase the material demand.
Based on application, global building thermal insulation market is segmented into Residential, Commercial, and others. Residential sector dominated the application segment of the market. Increasing housing sector in countries such as the US, India, and China, and the growing awareness regarding energy efficient buildings and rising cost of energy also drive the demand for thermal insulation in residential buildings. Commercial segment is estimated to be the fastest growing application during the forecast period.
On the basis of end use, global building thermal insulation market is segmented into Roof, Walls and Floors. Walls dominates the end use segment of the market. Roof is the second largest application segment. A roof is the most prominent source of heat penetration from direct sunrays and thus needs proper isolation to maintain optimal temperatures.
Global Building Thermal Insulation Market - Regional Analysis
North America region dominates the global building thermal insulation market. Increasing demand for residential housing and increased government support in the form of rebate and other tax benefits to the construction companies driving the growth of the market in the region. Europe is other major region for the market. Building safety codes in countries such as U.K., Germany, and France driving the demand of the market in the region.
The Asia-Pacific region is expected to be the fastest growing region for the building thermal insulation. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. Additionally, energy conservation initiatives to reduce greenhouse gas emissions also have the positive influence on the growth of the market.
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