A steady and consistently growing market, building thermal insulation is will determine decent growth over the forecast period of 2018 and 2026. It is pertinent to note here that the market depends on the extremities of temperature across geographical zones because these calls for a need for insulation in buildings in order to make sure that optimum temperature is maintained within these structures. It is not only good for the users but also for the environment as it allows saving of precious energy as loss of heat or cooling is prevented.
Some of the notable trends and developments that are shaping the way the global thermal insulation market operates are outlined below:
- The millennial consumer is hyper aware of his actions and is deeply concerned about his choices and the impact it makes on the environment. This leads to demand for building thermal insulation, driving the market forward. Here, it is pertinent to note that as the climate change adversity is hitting the planet hard much before it was earlier predicted by scientists, the clamor to reverse and slow down the damage is more intense than ever in the history of mankind. This again leads to people asking for a responsible progress.
- The construction volumes over the coming ten years will be phenomenal. Charting an 85% increase in volumes by 2030, the construction industry will see worth of USD 15.5 trillion accruing. And, out of this a little more than 50% will be held by just three nations. These nations include the United States of America, India and China that are deep into infrastructural development. When one notices the growth in population- additional 2 billion by 2050 - it gets easy to understand the growth in construction volumes.
Global Building Thermal Insulation Market: Overview
The global building thermal insulation market displays steadfast growth and is expected to continue doing so. Due to the geographical location, several places exhibit vast temperature variation between summer and winter. This requires building insulation to maintain optimum indoor temperature that is done using energy or building thermal insulation material.
Building thermal insulation material is used to prevent loss of heat as well as loss of cooling of indoor areas.
The report provides a brilliant analysis of the global building thermal insulation market with a strong focus on market dynamics, geographical distribution, and competitive scenario. The report also provides accurate projections of key parameters that can help market stakeholders make the best bet.
Global Building Thermal Insulation Market: Key Trends
Worldwide, environment protection agencies are making efforts to curb green house gas emissions associated with the residential and industrial sector. In cold countries, building thermal insulation material is used during the construction of buildings that helps reduce the use of energy to maintain indoor temperatures. This is a key factor driving the global building thermal insulation market.
In order to curb green house gases because of use of conventional source of energy, developed countries have stringent building codes are in place. This mandates the use of alternate means to prevent loss of heat and cooling of buildings.
At present, construction of green buildings is gaining popularity in several parts of the world. This is to reduce energy consumption and its associated cost. However, harsh winter near the Poles necessities buildings to be insulated to prevent loss of heat. This is a key factor boosting the building thermal insulation market.
On the flip side, availability of eco-friendly insulation material is posing to be a roadblock to the global building thermal insulation market.
Nevertheless, need for sustainable alternative of conventional energy to insulate residential and industrial buildings in cold countries to prevent heat loss will serve to provide massive opportunities to the building thermal insulation market.
Global Building Thermal Insulation Market: Geographical Analysis
Geography-wise, the global building thermal insulation market could be spread across North America, Eastern Europe, Asia Pacific, Western Europe, Latin America, and Middle East & Africa. North America, among them, holds substantial share in the overall market. Vast temperature difference between summer and winter in several parts of the region necessitates thermal insulation of buildings to maintain optimum indoor temperature. This is serving to boost the building thermal insulation market.
Global Building Thermal Insulation Market: Competitive Scenario
Key companies operating in the global building thermal insulation market include Johns Manville Corporation, Saint Gobain S.A., Kingspan Group plc, Owens Corning, Rockwool International A/S, Cabot Corporation, Covestro AG, GAF Materials Corporation, Paroc Group Oy, Beijing New Building Material Group Co. Ltd., Fletcher Building Limited, Aspen Aerogels Inc., Recticel SA, BASF SE, Knauf Insulation Inc., Huntsman Corporation, Firestone Building Products Company, Dow Corning Corporation, URSA Insulation S.A., Atlas Roofing Corporation, Lapolla Industries Inc., NICHIAS Corporation, ODE Industry and Trade Inc., Trocellen GmBh, and KCC Corporation.
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