Amid rising energy concerns and surging need for energy-efficient buildings, the future of building thermal insulation market looks bright, offering lucrative growth prospects. To capitalize on emerging opportunities, leading building thermal insulation manufacturers such as Owens Corning, Knauf Insulation, Armacell International S.A. and Rockwool International A/S are coming up with novel insulation products. They are also attending international expos and trade shows to unveil their latest insulation for sustainable architecture.
For instance, in January 2023, Owens Corning, a global building and construction materials leader, unveiled its latest building thermal insulation products at the International Builders’ Show (IBS). The show became a great platform for Owens Corning to demonstrate its robust insulation product offering, especially the new spray foam products.
Owens Corning’s latest spray foam products like Ultra-Pure low VOC spray foam insulation with Odor Scavenger technology are designed by industry-leading chemists to support increasingly stringent energy codes. They can effectively meet the homeowners’ demand for products that reduce energy consumption of buildings and contribute to healthier indoor air quality. The addition of Natural Polymers spray foam products to Owens Corning’s comprehensive insulation solutions further strengthened its position in the building thermal insulation industry.
According to a recent report published by Coherent Market Insights, the global building thermal insulation market is predicted to expand from US$ 36.68 billion in 2024 to US$ 49.13 billion by 2031. Global building thermal insulation sales will likely surge at a CAGR of 4.3% during the forecast period.
Rapid expansion of the construction industry, growing need for energy conservation, and increasing popularity of green buildings are set to propel demand for building thermal insulation products. Similarly, implementation of stringent regulations regarding greenhouse gas emissions will benefit the target industry.
Rising energy prices and a focus on reducing bills are expected to encourage adoption of advanced insulation materials like spray foams and aerogels. This will likely provide impetus for the growth of the building thermal insulation industry.
Thermal building insulation is gaining immense popularity due to its ability to improve energy efficiency of buildings and reduce carbon emissions. It stands out as a key element in achieving energy efficiency and sustainability goals in the contemporary world.
“Rising concerns about energy shortage and carbon emissions is encouraging the usage of advanced insulation materials like aerogels. This will likely aid in the expansion of the global building thermal insulation market in the coming years,” says a lead analyst at Coherent Market Insights.
Today, governments across the world are realizing the importance of energy conservation. As a result, new regulations and standards are being introduced worldwide. These regulations are prompting homeowners and industrialists to invest in high-temperature insulation solutions, creating growth opportunities for building thermal insulation product manufacturers.
Top manufacturers of building thermal insulation are investing vigorously in research and development to explore more sustainable products. Similarly, they are forming strategic alliances with other industry players and OEMs to expand their market footprints.
North America, spearheaded by the United States, currently dominates the global building thermal insulation market, holding a share of around 40.4% in 2024. This can be attributed to booming residential and commercial construction sector, implementation of stringent regulations, and availability of advanced insulation materials.
On the other hand, Asia Pacific is expected to emerge as a highly lucrative market for building thermal insulation manufacturers owing to rapid urbanization and industrialization as well as increasing government investments in green building. One main factor hindering market growth is the high initial cost of advanced insulation materials.
