Global Thermal Insulation Material Market to Hit USD 110.8 Billion by 2031, Driven by Sustainable and Energy-Efficient Construction Trends | Valuates Reports

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May 12, 2025, 11:35 ET

BANGALORE, India, May 12, 2025 /PRNewswire/ -- Thermal Insulation Material Market is Segmented by Type (Glass Wool, Stone Wool, PU Foam, Polyisocyanurate), by Application (Flat Roof, External Wall, Internal Wall).

The Global Thermal Insulation Material Market was valued at USD 74590 Million in the year 2024 and is projected to reach a revised size of USD 110800 Million by 2031, growing at a CAGR of 5.9% during the forecast period.

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Major Factors Driving the Growth of Thermal Insulation Material Market:

The thermal insulation material market is experiencing notable growth due to increasing global emphasis on energy conservation, sustainability, and cost-effective infrastructure development. Rising energy costs and strict government regulations are encouraging builders and industries to invest in high-performance insulation materials.

Key segments such as stone wool, polyurethane foam, and glass wool are widely adopted in residential, commercial, and industrial applications for their excellent thermal resistance and fire safety properties. The surge in green building initiatives and retrofitting of aging infrastructure in developed economies is also contributing to market expansion. Furthermore, developing countries are witnessing a construction boom fueled by urbanization, which increases demand for affordable and efficient insulation solutions.

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TRENDS INFLUENCING THE GROWTH OF THE THERMAL INSULATION MATERIAL MARKET:

Stone wool plays a crucial role in driving the thermal insulation material market due to its superior fire resistance, soundproofing capabilities, and thermal performance. Derived from volcanic rock, stone wool offers high durability and can withstand high temperatures, making it ideal for applications in industrial buildings, residential construction, and commercial structures. Its inert composition also prevents the growth of mold or mildew, enhancing indoor air quality and long-term safety. The material's recyclability further boosts its market appeal amid rising environmental concerns. With stricter building energy efficiency standards worldwide, construction companies increasingly opt for stone wool to ensure compliance, energy savings, and occupant safety, thereby fueling its consistent market expansion.

Polyurethane (PU) foam and glass wool are major contributors to the growth of the thermal insulation material market owing to their energy-saving performance and ease of installation. PU foam offers one of the lowest thermal conductivity values, making it highly effective for HVAC systems, refrigerated buildings, and exterior insulation. Meanwhile, glass wool, made from recycled glass, is widely used in wall cavities, roofs, and ceilings due to its lightweight and sound-absorbing nature. These materials support energy-efficient construction, a top priority in both new buildings and retrofitting projects. Their affordability and wide availability make them especially attractive for residential developers, significantly bolstering demand across global insulation applications.

Internal wall insulation contributes significantly to the thermal insulation material market by offering a cost-effective way to improve the energy efficiency of existing buildings without altering external aesthetics. It is especially valuable in urban retrofitting projects where external modifications are restricted due to heritage preservation or building codes. Internal wall insulation reduces heat loss and enhances thermal comfort, leading to lower energy bills and improved indoor living conditions. Governments and environmental bodies are increasingly promoting such energy-saving upgrades through incentives and mandates. This rising demand for energy-efficient renovations, especially in aging residential and commercial infrastructure, reinforces the expansion of the internal wall insulation segment in the market.

Rising enforcement of energy efficiency regulations by governments across the globe significantly drives the thermal insulation material market. Building codes now increasingly mandate the use of effective insulation materials to reduce heating and cooling loads. Regions like Europe and North America have introduced strict standards under initiatives such as the Energy Performance of Buildings Directive (EPBD) and LEED certification. These policies encourage both builders and homeowners to invest in insulation solutions like stone wool, glass wool, and polyurethane foam to meet compliance. As governments aim to cut carbon emissions and achieve net-zero targets, insulation adoption becomes a critical strategy in the broader energy conservation framework.

The rapid pace of urbanization in developing regions fuels construction activity, thereby driving the need for efficient insulation materials. Expanding cities require new housing, commercial spaces, and infrastructure that comply with thermal efficiency norms. With increased focus on smart cities and sustainable architecture, the demand for modern insulation systems has surged. Countries like China, India, and Indonesia are witnessing large-scale infrastructure projects, including residential complexes, public transport hubs, and commercial towers—all requiring insulation for thermal regulation. This construction boom creates sustained demand for materials like stone wool, PU foam, and reflective insulation to improve energy performance and reduce operational costs.

Industrial sectors such as oil & gas, chemicals, and power generation require high-temperature insulation materials to ensure operational safety and energy savings. Thermal insulation is crucial in maintaining process efficiency by minimizing heat loss from boilers, reactors, and pipes. Stone wool and ceramic fibers are widely used in such environments due to their heat resistance and structural stability. Additionally, these materials help industries comply with occupational safety standards and reduce energy consumption. As industrial output continues to grow globally, particularly in Asia-Pacific and the Middle East, the demand for robust insulation materials tailored for harsh conditions continues to escalate.

Aging buildings in developed regions are being retrofitted to meet modern energy efficiency standards, creating a renewed demand for thermal insulation materials. Older structures often suffer from inadequate or degraded insulation, resulting in high energy bills and poor indoor comfort. Renovation programs funded by governments and green initiatives focus on upgrading thermal performance through internal wall insulation, roof insulation, and floor systems. This segment particularly benefits materials like mineral wool and expanded polystyrene due to their ease of application in retrofit contexts. The growing interest in revamping outdated infrastructure fuels consistent growth in the insulation market across mature economies.

Thermal insulation materials play a vital role in the cold chain logistics sector, where temperature-sensitive goods such as pharmaceuticals, food, and chemicals require constant thermal regulation. Polyurethane foam is widely used in refrigerated trucks, cold storage rooms, and thermal containers due to its low thermal conductivity and lightweight properties. The post-pandemic surge in vaccine distribution and global expansion of online grocery and pharmaceutical delivery has intensified the demand for insulated transport infrastructure. This trend is expected to persist with increasing globalization and urban consumption, making cold chain insulation a stable and expanding application area for thermal insulation materials.

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THERMAL INSULATION MATERIAL MARKET SHARE

Asia-Pacific leads the thermal insulation material market owing to rapid construction growth, increasing industrial activities, and supportive government regulations. China and India dominate in infrastructure and urban development, driving demand for energy-efficient buildings. In North America and Europe, market growth is driven by retrofitting initiatives, stringent energy codes, and the rising adoption of green buildings.

Key Companies:

Saint-Gobain
Kingspan Group
Rockwool International
Johns Manville
Owens Corning
Knauf Insulation
DowDuPont
Paroc Group
GAF
Huntsman International
Byucksan Corporation
Atlas Roofing
Jia Fu Da
Lfhuaneng
Beipeng Technology
Taishi Rock
Cellofoam
BNBM Group

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