Building Thermal Insulation Market is expected to procure substantial revenue during 2019 - 2024
Date: 2019-06-06   Author: Rahul Varpe  Category: #news

Building Thermal Insulation Market is expected to procure substantial revenue during 2019 - 2024

Global market Insights add Building Thermal Insulation market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.

Strict legislations enforced by reputed regulatory bodies coupled with substantial government funding in the form of loans at low interest rates will favorably impact the market trends. Thermally insulated products possess excellent conductivity, longevity, and moisture sensitivity, which are the key properties that will positively leverage building thermal insulation market. Global construction expenditure, which was estimated at USD 7.5 trillion in 2016, is projected to surpass USD 15 trillion by 2024, which will provide numerous opportunities for the business players to expand their product portfolio.

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MEA building thermal insulation market revenue is predicted to surpass USD 320 million by 2024, driven by the rising popularity of green technologies to maintain a clean environment. UAE and Saudi Arabia are more likely to drive the regional share. UAE building thermal insulation industry alone produced a revenue of over USD 260 million in 2016.

Europe building thermal insulation market contributed over 45% toward global industry share in 2016, and is expected to grow at a remarkable pace in the years ahead. Strict norms enforced by law enforcement agencies in Europe are expected to amplify the growth. Germany is foreseen to majorly drive the industry growth across the region.

The expanding construction sector across APAC is one of the key driving forces behind the growth of this region. Estimates claim Asia Pacific building thermal insulation industry to record notable gains of more than 4% over the coming timeline. Escalating need for thermal insulation to control the building temperature across residential and commercial sectors will push the revenue. India, China, and Japan are projected to be the major revenue contributors. China construction sector, worth USD 1.5 trillion in 2016, is forecast to register significant gains of over 4.5% during the duration from 2017 to 2024, which will indirectly fuel the APAC building thermal insulation market size.

Huntsman International LLC, Dow Building Solutions, Saint-Gobain S.A., Johns Manville, BASF Polyurethanes GmbH, Owens Corning, and Kingspan Group Plc are the major players of building thermal insulation market.

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Wall applications, which generated a revenue of more than USD 12 billion in 2016, are expected to make notable contributions toward building thermal insulation market share over the years ahead. An escalating requirement to improve energy preservation and weather proofing will impel building thermal insulation industry development.

Floor applications, which contributed over 19% of the global market demand in 2016, are expected to drive building thermal insulation industry value. Rise in the number of construction projects due to swift urbanization will augment the scope of the business.

Expanded polystyrene (EPS), wool insulation, and polyurethanes are some of the key materials used in thermal insulation of the buildings.  Wool insulation material, which accounted for over half of building thermal insulation market share in 2016, is expected to boost the business landscape. Intensified demand for the product across the residential and the commercial activities will favorably influence the building thermal insulation industry revenue.

Expanded polystyrene is projected to exhibit a CAGR of 4.2% over the years to come, owing to the beneficial product features such as resilience, lightweight, and effective processing ability. Polyurethanes, which generated a revenue of more than USD 1.8 billion in 2016, are expected to influence the industry landscape. Its ability to reduce emissions and maintain the cooling effect of the buildings through heat regulation is more than likely to positively leverage the product trends.

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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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