PUNE, India, August 11, 2016 /PRNewswire/ --
The report "Building Thermal Insulation Market by Insulant Material (Glass Wool, Stone Wool, EPS, XPS, PU Foam, Polyisocyanurate, Phenolic Foams), Application (Flat Roof, Pitch Roof, External Walls, Internal Walls, Cavity Walls, Floor) - Global Trends & Forecasts to 2021", published by MarketsandMarkets, The global market size was USD 22.73 Billion in 2015 and is projected to reach USD 28.39 Billion by 2021, at a CAGR of 3.50% between 2016 and 2021.
Browse 88 market data Tables and 93 Figures spread through 177 Pages and in-depth TOC on "Building Thermal Insulation Market"
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Greenhouse gas emission reduction, strict regulatory environment and cost efficiency delivered by these products are expected to drive the market.
Wool insulation segment captures largest share of the building thermal insulation market
The building thermal insulation market is segmented on the basis of insulant material into; wool insulation, plastic foams, and others. In 2015, wool insulation segment captured the maximum share of the overall market while plastic foams is expected to witness the highest growth rate during the forecast period. The demand for plastic foam insulation is increasing because of its attributes such as higher thermal resistance; R-value (R-value is a measure of thermal resistance, or a materials ability to prevent heat loss), versatility, strength, and life span.
Growing demand from roof application to boost the building thermal insulation market
The major applications of the building thermal insulation market are wall insulation, roof insulation, and floor insulation. Wall insulation is the leading application of the Building Thermal Insulation Market while, roof insulation is expected to grow with the highest CAGR during the forecast period. The roof insulation market is divided into two main segments flat roof and pitched roof insulation. Flat roof insulation is the major market under the building roof insulation. The performance of the flat roofing market is closely linked to that of the construction (both new build and refurbishment/RMI) and house building sectors as well as the economy overall. Most buildings with flat roofs are non-residential, such as logistics centers, supermarkets, factories, and airports.
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North America is the largest market in building thermal insulation.
The building thermal insulation market is broadly segmented into six regions, namely, North America, Western Europe, Central & Eastern Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is the largest building thermal insulation market, closely followed by Western Europe, in terms of value.
Several countries and regional organizations including U.S. and European Union have adopted legislation on energy efficient buildings. These legislations are growing stricter day by day and are now covering developing world as well. Stringent energy efficiency regulations for buildings are driving the penetration of insulation in the overall building stock and increasing the amount of insulation needed per building.
Currently, various market players such as Knauf Insulation (U.S.), Rockwool International A/S (Denmark), Johns Manville Inc. (U.S.), BASF SE (Germany), Owens Corning Corporation (U.S.), Paroc (Finland), Saint-Gobain (France), GAF (U.S.), Kingspan Group Plc (Ireland), and Beijing New Building Material (China) dominate the global building thermal insulation market.
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