PUNE, India, August 30, 2017 /PRNewswire/ --
According to a new market research report "Building Thermal Insulation Market by Material (Glass Wool, Stone Wool, Polystyrene), Application (Flat Roof, Pitched Roof, External Wall, Internal Wall, Cavity Wall, Floor), Building Type (Residential, Non-residential) - Global Forecast to 2022", published by MarketsandMarkets™, the market size was USD 23.89 Billion in 2016, which is projected to reach USD 29.62 Billion by 2022, at a CAGR of 3.65% from 2017 to 2022.
Browse 134 Market Data Tables and 36 Figures spread through 170 Pages and in-depth TOC on "Building Thermal Insulation Market"
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The strict building codes in Europe and North America as well as the awareness towards reducing greenhouse gas emissions, along with the growing demand for Nearly Zero Energy Buildings (NZEB) globally, drive the demand for building thermal insulation. In addition, the booming construction industry in countries such as the US, China, and India drives the demand for building thermal insulation in residential and non-residential buildings.
Plastic Foam is the largest material type segment of building thermal insulation.
The plastic foam segment accounted for the largest share of the global building thermal insulation market in 2016, in terms of value. The growth of this segment is driven owing to its attributes such as higher thermal resistance (R-Value), versatility, strength, and life span. In addition, its usage in various temperature range from -200° C to 150° C drives its demand in various building thermal insulation such as roof insulation, wall insulation, and floor insulation.
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Residential buildings segment is expected to have the largest share of the building thermal insulation market in 2016.
The residential building segment accounted for the largest share of the building thermal insulation market, in terms of both value and volume, in 2016. The presence of strict building codes, accompanied by the growing demand for housing sector especially in the US, the UK, and Germany drive the demand for building thermal insulation in residential buildings. The retrofit and renovation activities in Western Europe are also expected to drive the building thermal insulation market in the residential sector.
North America was the biggest market for building thermal insulation in 2016.
The North American region led the Building Thermal Insulation Market in 2016, in terms of value. Increased concerns over improving efficiency in buildings drive the demand for building thermal insulation. In addition, the growing demand for green buildings also drive the demand for building thermal insulation in the region. The growth in residential and non-residential buildings in the US due to the demand for single-family homes and robust manufacturing is another factor that drives the demand for building thermal insulation.
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Key market players profiled in the report are Johns Manville Corporation (US), Saint-Gobain S.A. (France), BASF SE (Germany), Kingspan Group plc (Ireland), Knauf Insulation, Inc. (US), Owens Corning (US), Huntsman Corporation (US), Rockwool International A/S (Germany), Firestone Building Products Company (US), Cabot Corporation (US), Dow Corning Corporation (US), Covestro AG (Germany), URSA Insulation, S.A. (Spain), Paroc Group Oy (Finland), Atlas Roofing Corporation (US), GAF Materials Corporation (US), Lapolla Industries, Inc. (US), Beijing New Building Material (Group) Co., Ltd. (China), NICHIAS Corporation (Japan), Fletcher Building Limited (New Zealand), ODE Industry and Trade Inc. (Turkey), Aspen Aerogels, Inc. (US), Trocellen GmbH (Germany), Recticel SA (Belgium), and KCC Corporation (South Korea).
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