Building Thermal Insulation market is valued at $27.4bn in 2019

Friday 28 June 2019, Amsterdam

In the recent past, high economic and population growth in emerging countries such as India and China have resulted in increased consumption of energy. In addition, rising urbanisation along with the industrial revolution in these countries has increased the need for investments in infrastructure, transportation, storage, and processing of perishable foods under controlled temperature conditions. The increased energy demand for cold storage requires insulation. The increased energy demand requires substantial investment in the supply infrastructure via more pipelines or liquid natural/propane gas vessels, both of which require extensive insulation. Moreover, the rising middle-class population in these countries is anticipated to demand high comfort products. This, in turn, is anticipated to increase the consumption of energy in the form of electricity and ultimately enhances the demand for insulation.

The report analyst commented "Stiff competition in the market and available revenue opportunities in the global building thermal insulation market have illustrated how closely tied to market’s performance is the state of the global economy. Over the past couple of decades, the overall building thermal insulation market has witnessed a fluctuating year-on-year growth rate owing to the dynamic nature of the construction industry and market. In contrast, as the economy grows, the demand for building thermal insulation materials in construction is anticipated to increase, respectively. Annual growth can be used to estimate the growth potential of the building thermal insulation market in the long-term. Subsequently, growth in building thermal insulation demand is prone to economic fluctuations within the construction industry. However, demand growth may deviate from GDP due to governmental legislation on energy saving measures."

Leading companies featured in the report who are offering building thermal insulation solutions and services include Arkema SA, BASF SE, Clariant AG, Covestro AG, DowDuPont, Inc., Eastman Chemical Co., Evonik Industries AG, Fletcher Building Ltd., GAF Industries Inc., Johns Manville Corp., Kingspan Group PLC, Knauf Insulation, Masco Corp., and Owens Corning Corporation.