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Thermal Insulation Market to reach a valuation of US$77,770.7 mn by the end of 2025

Thermal Insulation Market

Global Thermal Insulation Market: Snapshot

The worldwide market for thermal insulation is profiting by government-upheld ecological guidelines for protection of vitality in structures. Specifically, governments in chilly nations are effectively advancing zero vitality misfortune structures that can be accomplished by methods for solid thermal insulation materials. According to the investigation uncovered by the establishment for Energy Diversification and Saving (IDEA), thermal insulation enhancements can represent up to 30% drop in warmth and cooling utilization to convert into vitality and cash reserve funds and decrease in CO2 discharges too.

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Proving to challenge the growth of thermal insulation market is the high price of insulation materials that is resulting in their low adoption.

A report by Transparency Market Research forecasts the worldwide market for thermal insulation to reach a valuation of US$77,770.7 mn by the end of 2025 increasing from US$48,288.3 mn in 2016 at a CAGR of 5.4% between 2017 and 2025.

Building & Construction End-user to Continue to Remain Significant

In this report, the global thermal insulation market is evaluated on the basis of product, foam, end-user, and region. Based on product, the market is categorized into cellular material, fibrous material, and granular material. The cellular material segment is further sub-segmented into glass, polypropylene, polyurethane, polystyrene, polyisocyanurate, and epoxy. The segment of fibrous material comprises mineral, fiberglass, silica, alumina silica, and silicone rubber as sub-segments. The granular material segment comprises cellulose, calcium silicate, perlite, aerogel, and expanded vermiculite as sub-segments. Amongst all, fibrous material reported the leading demand in 2016 among other thermal insulation products.

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Based on foam type, the market has been classified into rigid board, rigid foam/foam board, flexible foam, sprayed foam, batts, loose fillers, barriers, and others. Vis-à-vis revenue, the segment of rigid board held more than 30% of the market in 2016.

By end-user, the thermal insulation market has been segregated into building & construction, oil & gas, aerospace & aviation, mechanical systems, clothing, automotive, industrial, and others. The building & construction segment comprises residential and commercial sub-segments. The oil & gas segment is further sub-segmented into offshore, subsea, and others. Of them, the building & construction segment constituted the leading more than 50% in 2016.

Asia Pacific to Register Robust CAGR through 2025

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the prime regional markets for thermal insulation that have been studied in this report. Among these, Asia Pacific emerged as the most lucrative market in 2016 with more than 35% share in the overall market. The trend is expected to continue over the forecast period with the region expected to account for a revenue contribution of US$34535.8 mn by the end of 2025. The growth of the construction industry in the region due to industrialization and urbanization is stoking demand for thermal insulation materials. Growing population coupled with increasing number of nuclear family setups is necessitating governments in this region to implement energy conservation practices.

Besides this, in this region, the thermal insulation market is benefitting from increasing maintenance activities among home owners. Home owners are increasingly investing in insulation materials for the upkeep of floors, walls, and roofs.

North America is anticipated to display the second-leading growth rate of 5.10% for the forecast period between 2017 and 2025. The region will serve a demand to attract a revenue of US$17562.8 mn by 2025 end.

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The report has profiled key thermal insulation manufacturers as leading players, which include Armacell, Asahe Kasei Corporation, BASF SE, Johns Manville, Covestro AG, The Dow Chemicals Company, DuPont Insulcon Group, Isolatek International, Kingspan Group Plc, Owens Corning, ROCKWOOL International A/S, Saint-Gobain S.A., Thermax Jackets LLC, URSA Insulation S.A, and others.

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