Building Thermal Insulation Market Trend & Growth Forecast 2018-2024 By Material - Wool Insulation, Plastic Foams
Date: 2018-11-16   Author: Rahul Varpe  Category: #market

Building Thermal Insulation Market Trend & Growth Forecast 2018-2024 By Material - Wool Insulation, Plastic Foams

Building Thermal Insulation Market size from roof applications will grow at a rate of nearly 4% over the period of 2017-2024. The growth can be credited to the high demand for flat roofs in the commercial buildings. Flat roofs are expected to collect a revenue of more than USD 5.6 billion by 2024.

Floor applications, which contributed over 19% toward building thermal insulation market share in 2016, are forecast to witness a substantial expansion over the years to come. Rise in the number of construction projects along with swift urbanization trends will push the revenue.

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Reduced GHG emissions, high energy preservation, and the prospering construction sector are expected to spur building thermal insulation market size. As per reliable statistics, global construction funding, which was more than USD 7.5 trillion in 2016, is anticipated to exceed USD 13 trillion by 2024. This is certain to help industry players discover new growth avenues in the business, thereby boosting building thermal insulation market trends. Escalating product popularity can be attributed to its beneficial features such as ease of installation, longevity, moisture sensitivity, better conductivity, and compressive strength. According to Global Market Insights, Inc.,” Building thermal insulation industry value, which was estimated at USD 25 billion in 2016, is projected to surpass USD 34.9 billion by 2024.”

Building floors, walls, and roofs essentially require thermal insulation. Wall applications, which contributed more than USD 12 billion toward building thermal insulation industry revenue in 2016, are expected to grow considerably over the years to come. The mounting requirement for minimizing power consumption along with weather proofing needs will boost the product usage across this application.

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Building thermal insulation makes use of expanded polystyrene, wood insulation, and polyurethanes materials. Wool insulation material, which contributed more than 50% toward building thermal insulation industry share in 2016, is expected to drive the market revenue over the years ahead.  Rising product popularity across commercial and residential sectors will influence the business landscape.

Residential sector, which contributed over 56% of building thermal insulation market share in 2016, is expected to record a CAGR of more than 4% during the period from 2017 to 2024. A substantial rise in the disposable incomes of consumers and their increasing purchase parity will favorably influence the business space.

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Kingspan Group, huntsman international LLC., Saint-Gobain, Dow Building Solutions, BASF Polyurethanes GmbH, Owens Corning, CertainTeed Corporation, and Johns Manville are the key players in building thermal insulation market.



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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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