Northrook, IL -- (SBWIRE) -- 11/08/2019 -- The report "Building Thermal Insulation Market by Material (Glass Wool, Stone Wool, Polystyrene), Application (Flat Roof, Pitched Roof, External Wall, Internal Wall, Cavity Wall, Floor), Building Type (Residential, Non-residential) -Global Forecast to 2027" The building thermal insulation market size is estimated at USD 26.6 billion in 2019 and is projected to reach USD 37.4 billion by 2027

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The strict building codes in Europe and North America as well as the awareness towards reducing greenhouse gas emissions, along with the growing demand for Nearly Zero Energy Buildings (NZEB) globally, drive the demand for building thermal insulation. In addition, the booming construction industry in countries such as the US, China, and India drives the demand for building thermal insulation in residential and non-residential buildings.

Growth Drivers:
- Stringent regulations to reduce greenhouse gas emission
- Development of green buildings
- Reduction in energy consumption and its related cost
- Presence of stringent building codes
- Rebates and tax credits

Plastic Foam is the largest material type segment of building thermal insulation.
The plastic foam segment is estimated to account for the largest share of the global building thermal insulation market, in terms of value. The growth of this segment is driven owing to its attributes such as higher thermal resistance (R-Value), versatility, strength, and life span. In addition, its usage in various temperature range from -200° C to 150° C drives its demand in various building thermal insulation such as roof insulation, wall insulation, and floor insulation.

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Residential buildings segment is expected to have the largest share of the building thermal insulation market in 2018.
The residential building segment is estimated to account for the largest share of the building thermal insulation market, in terms of both value and volume, during forecast period. The presence of strict building codes, accompanied by the growing demand for housing sector especially in the US, the UK, and Germany drive the demand for building thermal insulation in residential buildings. The retrofit and renovation activities in Western Europe are also expected to drive the building thermal insulation market in the residential sector.

North America was the biggest market for building thermal insulation in 2018.
The North American region is estimated to lead the building thermal insulation market, in terms of value, during forecast period. Increased concerns over improving efficiency in buildings drive the demand for building thermal insulation. In addition, the growing demand for green buildings also drive the demand for building thermal insulation in the region. The growth in residential and non-residential buildings in the US due to the demand for single-family homes and robust manufacturing is another factor that drives the demand for building thermal insulation.

Key market players profiled in the report are Johns Manville Corporation (US), Saint-Gobain S.A. (France), BASF SE (Germany), Kingspan Group plc (Ireland), Knauf Insulation, Inc. (US), Owens Corning (US), Huntsman Corporation (US), Rockwool International A/S (Denmark), Firestone Building Products Company (US), Cabot Corporation (US), Dow Corning Corporation (US), Covestro AG (Germany), URSA Insulation, S.A. (Spain), Paroc Group Oy (Finland), Atlas Roofing Corporation (US), GAF Materials Corporation (US), Lapolla Industries, Inc. (US), Beijing New Building Material (Group) Co., Ltd. (China), NICHIAS Corporation (Japan), Fletcher Building Limited (New Zealand), ODE Industry and Trade Inc. (Turkey), Aspen Aerogels, Inc. (US), Trocellen GmbH (Germany), Recticel SA (Belgium), and KCC Corporation (South Korea).

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Development of green buildings:

According to US Environment Protection Agency (EPA), green buildings involve the practice of creating structures and using processes that are environmentally friendly and resource efficient throughout the life cycle of a building – including siting, designing, construction, operation, maintenance, renovation, and deconstruction. There is a growth in the construction of green buildings globally due to volatile and high energy prices, concerns regarding environmental impact, and health and comfort of occupants. In addition, green building rating systems, such as Building Research Establishment Environment Assessment Methodology (BREEAM) in the UK, Leadership in Energy and Environmental Design (LEED) in the US and Canada among other countries are other factors increasing the construction of green buildings. Therefore, an increase in green building projects is expected to increase the demand for building thermal insulation, globally.

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