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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.