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Insulation Market Analysis till 2031

Insulation Market (Product: Fiberglass, Plastic Foam, Mineral Wool, and Others [Cotton Wool and Slag Wool]; and Application: Residential Construction, Industrial, HVAC, and OEM, and Non-residential Construction) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Insulation Market Outlook 2031

  • The global insulation market was valued at US$ 64.9 Bn in 2020
  • It is estimated to expand at a CAGR of 9.4% from 2021 to 2031
  • The global insulation market is expected to surpass the value of US$ 175.1 Bn by the end of 2031

Analysts’ Viewpoint on Insulation Market Scenario

Leading companies in the global insulation market are focusing on developing efficient products due to rising construction activities all over the world. The growing awareness about energy conservation in consumers across the globe is also driving the demand for various insulating products. Companies in the insulation market are accelerating their product development to unlock revenue opportunities in the global market. Moreover, market stakeholders are extending their services arms. There are tremendous growth opportunities for key players in the insulation market due to rapidly increasing infrastructure development activities across the globe, urbanization, industrialization, and demand for insulating products from the building & construction sector.

Rising Demand for Insulation Products in Construction and Automotive Industries

The global insulation market has been driven in recent years by the expansion of the construction industry, which is likely to remain a prime driver for the market in the upcoming years. Insulating products are used to minimize the interaction between a substance and its environment. Thermal, electric, or acoustic insulation is widely accepted in houses and other construction, electric insulation for wires and cables, etc.

The increasing usage of insulating products in building & construction, residential & non-residential, industrial sector, commercial buildings, and infrastructure development applications is contributing to the market growth. Consistent development in the automotive industry has led to large-scale use of insulation materials in automobiles for thermal, acoustic, as well as electric insulation. The rising popularity and adoption of automotive electronics is also driving the demand for acoustic insulation.

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Industrialization and Rising Infrastructure Development Activities Fueling Market Growth

Manufacturers working in the insulation market are gaining lucrative benefits by meeting the increasing demand from rapidly growing infrastructure & developing projects. Rising industrial activities, along with rapid urbanization is contributing to the global insulation market growth during the forecast period. Major players in the global insulation market are expanding their business by collaborating with small- and medium-scale manufacturers.

Insulating products such as fiberglass and plastic foam are widely adopted in manufacturing industries across the world. Growing infrastructure development projects in emerging economies, along owing to rapidly increasing global population is responsible for the expansion of the insulation market.

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Booming Consumer Electronics Industry Creating Revenue Opportunities

The consumer electronics industry is also likely to remain a key consumer of the global insulation market. Rising disposable income of consumers has led to rapid growth of the consumer electronics industry in the recent years, whereas growing technological sophistication of smartphones has necessitated the use of electric insulation. Manufacturers are focusing on increasing their production capacities due to rising demand from consumers. There is a surging demand for consumer electronics products such as mobile phones, laptops, tablets, electronic gadgets, smart wearable, digital cameras, small and large home appliances, television, etc.

The growing demand for such devices in developed and under-developed countries across the world is creating value-grab opportunities for the insulation market players. There is a strong presence of market manufacturers operating in the insulation market. The growing adoption of innovative electronic products in day-to-day life for convenience is the factor responsible for increasing demand for consumer electronics. Continuous technological advancements in such devices and increasing investment in research & development are further accelerating the market.

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Companies Focus on Asia Pacific for Business Expansion

The steadily growing construction and automotive industries in Asia Pacific is responsible for the expansion of the insulation market in Asia Pacific. The increasing demand for consumer electronics products in countries such as China, India, South Korea, and Japan is driving the Asia Pacific insulation market in the upcoming years. Technological advancements in products and rise in sales of consumer electronics have created potential benefits for market players. Growing automotive industry in China and India, increasing demand for vehicles due to rising disposable income, and lucrative presence of automotive manufacturers in the region further accelerate the insulation market.

Furthermore, the surging demand for passenger cars and other commercial transportation vehicles in Japan is likely to lead to a steady demand in the global insulation market in the near future. In addition, rapidly growing population, industrialization, residential and non-residential construction projects, and infrastructure development activities is also fueling market growth.

Impact of Spread of Coronavirus on Insulation Market

The rapidly spreading coronavirus had harshly affected all the business operations across the globe. Disruption in supply chain had a serious impact on the global economy. There has been a huge affect on consumer electronics, automotive, and building & construction sectors due to prolonged lockdowns and halting of all the business operations and manufacturing activities across the globe.

The insulation market players are recovering from the losses caused due to the pandemic by introducing innovative products to boost market growth. Manufacturers are all set to re-establish their businesses to keep the economies running during the pandemic. Growth of the construction industry and rapidly rising infrastructure development projects are further contributing to the expansion of the market.

Insulation Market: Overview

  • Insulation materials are non-conducting materials, which are used to isolate something from its surrounding atmosphere and sustain its normal state of being. Insulation can be of several types, viz., thermal insulation, acoustic insulation, and electrical insulation. Good insulators have atoms packed in such a way that they cannot vibrate to the extent required to successfully transfer the amount of heat, electrical, or sound energy applied to them.
  • Insulating materials can be broadly classified into mineral fibers and plastic foams. The quality of the insulator is determined by the R-value it provides. R-value is the degree of thermal resistance of the material; a higher R-value signifies a better insulator. Insulating materials made from fiberglass, mineral wool, and plastic foam are used in the building & construction industry, and in heating, ventilation, and air conditioning applications.
  • According to Transparency Market Research’s latest research report on the insulation market during the forecast period from 2021 to 2031, rise in usage of insulation in the construction industry is a key factor that is expected to boost the global insulation market during the forecast period

Increase in Usage of Insulation in Construction Industry: Key Driver of Global Insulation Market

  • Use of insulation is dominant in the construction industry. Insulation has been witnessing rampant usage in residential construction of late. This is propelling the global insulation market. Apart from the residential sector, the industrial construction is expected to depict an extensive use of insulation products, consequently boosting the global insulation market.
  • Use of insulation in residential construction dominates the market. Rising focus on reducing energy consumption coupled with the installation of efficient, recyclable, and green materials is further boosting the segment share. Proliferating customer spending coupled with increasing requirement for new homes is likely to induce a positive effect on the insulation market. Increasing requirement for insulating materials in residential and commercial applications among the developed regions, including North America and Europe, is estimated to positively influence the product penetration.

Fiberglass Product Segment Dominates Global Insulation Market

  • Based on product, the fiberglass segment dominated the global insulation market in 2020. This can be primarily ascribed to the increase in demand for fiberglass in insulation in various applications such as residential, industrial, non-residential construction, and others.
  • Fiberglass is an insulation material composed mainly of glass. However, fiberglass can also be used in the manufacturing of different products, including automobiles. Fiberglass consists of extremely fine glass fibers and is an insulation material that is found in most residential construction. Fiberglass insulation is made of plastic reinforced by tiny glass fibers.
  • The mineral wool product segment has also been expanding significantly of late. Eco-friendly nature of mineral wool has helped in the overall development of the global market for insulation.

Rise in Usage of Insulation in Residential Construction Applications

  • In terms of value, the residential construction application segment is estimated to dominate the global insulation market during the forecast period. Increase in demand for insulation in the construction industry is anticipated to drive the segment in the near future.
  • Insulation is increasingly being used in the building & construction sector. Insulation of residential buildings is gaining popularity due to its architectural and energy efficiency benefits. Promoting energy efficiency (EE) requirements for new residential buildings has been proven an effective mandatory policy instrument to slow down the increase of energy consumption in the residential building sector.
  • Insulation is becoming more common, as building designers and architects incorporate them into their designs. Furthermore, manufacturers' increased emphasis on developing, producing, and selling insulation for a variety of uses in the construction sector is expected to propel the insulation market in the near future.

Insulation Market: Competition Landscape

  • Detailed profiles of providers of insulation have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global insulation market are
    • Atlas Roofing Corporation
    • Duro-Last Roofing, Inc.
    • CertainTeed Corporation
    • The Dow Chemical Company
    • Huntsman International LLC
    • Johns Manville
    • Knauf Gips KG
    • Owens Corning
    • ROCKWOOL International A/S

Insulation Market: Major Players

  • Major providers of insulation, such as, The Dow Chemical Company Atlas Roofing Corporation, CertainTeed Corporation, Owens Corning, and ROCKWOOL International A/S, are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
  • In the global insulation market report, we have discussed individual strategies, followed by company profiles of providers of insulation. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global insulation market.

Insulation Market Snapshot

Attribute

Detail

Market Size Value in 2020 (Base Year)

US$ 64.9 Bn

Market Forecast Value in 2031

US$ 175.1 Bn

Growth Rate (CAGR)

9.4%

Forecast Period

2021-2031

Quantitative Units

US$ Bn for Value

Market Analysis

Includes cross segment analysis at global as well as regional level. Qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, supply chain analysis, and parent industry overview.

Competition Landscape

  • Market Share Analysis by Company (2020)
  • Company Profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials.

Format

Electronic (PDF) + Excel

Market Segmentation

  • Product
    • Fiberglass
    • Plastic Foam
    • Mineral Wool
    • Others
  • Application
    • Residential Construction
    • Industrial, HVAC, and OEM
    • Non-residential Construction

Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Japan
  • China
  • India
  • ASEAN
  • Brazil
  • Mexico
  • GCC Countries
  • South Africa

Companies Profiled

  • Atlas Roofing Corporation
  • Duro-Last Roofing, Inc.
  • CertainTeed Corporation
  • The Dow Chemical Company
  • Huntsman International LLC
  • Johns Manville
  • Knauf Gips KG
  • Owens Corning
  • ROCKWOOL International A/S

Customization Scope

Available upon Request

Pricing

Available upon Request

Insulation Market – Segmentation

TMR’s research study assesses the global insulation market in terms of product, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global insulation market.

Product
  • Fiberglass
  • Plastic Foam
  • Mineral Wool
  • Others (including Cotton Wool and Slag Wool)
Application
  • Residential Construction
  • Industrial, HVAC, and OEM
  • Non-residential Construction
Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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1. Preface

    1.1. Report Description

    1.2. Market Segmentation

        1.2.1. Global Insulation Market Segmentation: By Product, Application, and Region

    1.3. Research Scope

        1.3.1. Assumptions

    1.4. Research Methodology

2. Executive Summary

    2.1. Global Demand for Insulation, 2020–2031 (US$ Bn)

        2.1.1. Global Demand for Insulation, 2020–2031 (US$ Bn)

    2.2. Insulation: Market Snapshot, 2031& 2020

3. Insulation Market – Industry Analysis

    3.1. Introduction

    3.2. Value Chain Analysis

    3.3. Market Drivers

        3.3.1. Urbanization and Growing Construction Industry to Drive the Insulation Market

            3.3.1.1. Global Construction Market Revenue, 2020–2031 (US$ Bn)

        3.3.2. Increasing Energy Cost and Building Regulation Codes Are Expected to Drive the Insulation Market

    3.4. Market Restraints

        3.4.1. Volatile Price of Raw Materials Expected to Hinder the Growth of Insulation Market

    3.5. Opportunities

        3.5.1. Increasing Popularity of Green Buildings

    3.6. Porter’s Five Forces Analysis

        3.6.1. Bargaining Power of Suppliers

        3.6.2. Bargaining Power of Buyers

        3.6.3. Threat of New Entrants

        3.6.4. Threat of Substitutes

        3.6.5. Degree of Competition

    3.7. Insulation: Market Attractiveness Analysis, 2020

4. Insulation Market: Product Segment Analysis

    4.1. Global Insulation Market: Product Segment Overview

        4.1.1. Global Insulation Market Revenue Share, by Product Segment, 2020 and 2031

    4.2. Fiberglass

        4.2.1. Global Fiberglass Insulation Market, 2020–2031 (US$ Bn)

    4.3. Plastic Foam

        4.3.1. Global Plastic Foam Insulation Market, 2020 – 2031(US$ Bn)

    4.4. Mineral Wool

        4.4.1. Global Mineral Wool Insulation Market, 2020 – 2031(US$ Bn)

    4.5. Others (Including Cotton Wool, Slag Wool, Etc.)

        4.5.1. Global Market for Other Insulation Materials, 2020 – 2031(US$ Bn)

5. Insulation Market: Application Analysis

    5.1. Global Insulation Market: Application Overview

        5.1.1. Global Insulation Market Revenue Share, by Application, 2020 and 2031

    5.2. Residential Construction

        5.2.1. Global Insulation Market in Residential Construction, 2020 – 2031(US$ Bn)

    5.3. Industrial, HVAC, and OEM

        5.3.1. Global Insulation Market in Industrial, HVAC, and OEM Applications, 2020 – 2031(US$ Bn)

    5.4. Non-residential Construction

        5.4.1. Global Insulation Market in Non-residential Construction, 2020 – 2031(US$ Bn)

6. Global Insulation Market – Regional Analysis

    6.1. Global Insulation Market: Regional Overview

        6.1.1. Insulation Market Revenue Share, by Region, 2020 and 2031

    6.2. North America

        6.2.1. North America Insulation Market Revenue, by Product, 2020 – 2031(US$ Bn)

        6.2.2. North America Insulation Market Revenue, by Application, 2020 – 2031(US$ Bn)

    6.3. Europe

        6.3.1. Europe Insulation Market Revenue, by Product, 2020 – 2031(US$ Bn)

        6.3.2. Europe Insulation Market Revenue, by Application, 2020 – 2031(US$ Bn)

    6.4. Asia Pacific

        6.4.1. Asia Pacific Insulation Market Revenue, by Product, 2020 – 2031(US$ Bn)

        6.4.2. Asia Pacific Insulation Market Revenue, by Application, 2020 – 2031(US$ Bn)

    6.5. Latin America

        6.5.1. Latin America Insulation Market Revenue, by Product, 2020 – 2031(US$ Bn)

        6.5.2. Latin America Insulation Market Revenue, by Application, 2020 – 2031(US$ Bn)

    6.6. Middle East & Africa

        6.6.1. Middle East & Africa Insulation Market Revenue, by Product, 2020 – 2031(US$ Bn)

        6.6.2. Middle East & Africa Insulation Market Revenue, by Application, 2020 – 2031(US$ Bn)

7. Company Profiles

    7.1. Global Insulation Company Market Share Analysis, 2020

    7.2. Company Profiles (Details – Overview, Financials, Recent Developments, and Strategy)

        7.2.1. Atlas Roofing Corporation

            7.2.1.1. Company Description

            7.2.1.2. Business Overview

            7.2.1.3. Financial Overview

            7.2.1.4. Strategic Overview

        7.2.2. Duro-Last Roofing, Inc.

            7.2.2.1. Company Description

            7.2.2.2. Business Overview

            7.2.2.3. Financial Overview

            7.2.2.4. Strategic Overview

        7.2.3. CertainTeed Corporation

            7.2.3.1. Company Description

            7.2.3.2. Business Overview

            7.2.3.3. Financial Overview

            7.2.3.4. Strategic Overview

        7.2.4. The Dow Chemical Company

            7.2.4.1. Company Description

            7.2.4.2. Business Overview

            7.2.4.3. Financial Overview

            7.2.4.4. Strategic Overview

        7.2.5. Huntsman International LLC

            7.2.5.1. Company Description

            7.2.5.2. Business Overview

            7.2.5.3. Financial Overview

            7.2.5.4. Strategic Overview

        7.2.6. Johns Manville

            7.2.6.1. Company Description

            7.2.6.2. Business Overview

            7.2.6.3. Financial Overview

            7.2.6.4. Strategic Overview

        7.2.7. Knauf Gips KG

            7.2.7.1. Company Description

            7.2.7.2. Business Overview

            7.2.7.3. Financial Overview

            7.2.7.4. Strategic Overview

        7.2.8. Owens Corning

            7.2.8.1. Company Description

            7.2.8.2. Business Overview

            7.2.8.3. Financial Overview

            7.2.8.4. Strategic Overview

        7.2.9. ROCKWOOL International A/S

            7.2.9.1. Company Description

            7.2.9.2. Business Overview

            7.2.9.3. Financial Overview

            7.2.9.4. Strategic Overview

List of Tables

Table 1: Insulation: Market Snapshot, 2020 & 2031

Table 2: Drivers of Insulation Market: Impact Analysis

Table 3: Restraints for Insulation Market: Impact Analysis

Table 4: North America Insulation Market Revenue, by Product, 2020 – 2031 (US$ Bn)

Table 5: North America Insulation Market Revenue, by Application, 2020 – 2031 (US$ Bn)

Table 6: Europe Insulation Market Revenue, by Product, 2020 – 2031 (US$ Bn)

Table 7: Europe Insulation Market Revenue, by Application, 2020 – 2031 (US$ Bn)

Table 8: Asia Pacific Insulation Market Revenue, by Product, 2020 – 2031 (US$ Bn)

Table 9: Asia Pacific Insulation Market Revenue, by Application, 2020 – 2031 (US$ Bn

Table 10: Latin America Insulation Market Revenue, by Product, 2020 – 2031 (US$ Bn)

Table 11: Latin America Insulation Market Revenue, by Application, 2020 – 2031(US$ Bn)

Table 12: Middle East & Africa Insulation Market Revenue, by Product, 2020 – 2031 (US$ Bn)

Table 13: Middle East & Africa Insulation Market Revenue, by Application, 2020 – 2031 (US$ Bn)

List of Figures

Figure 1: Global Insulation Market Segmentation: By Product, Application, and Region

Figure 2: Global Demand for Insulation, 2020–2031 (US$ Bn)

Figure 3: Insulation: Value Chain Analysis

Figure 4: Global Construction Market Revenue, 2020–2031 (US$ Bn)

Figure 5: Global Crude Oil Price Trend: 2020–2031 (US$/Barrel)

Figure 6: Porter’s Five Forces Analysis

Figure 7: Insulation: Market Attractiveness Analysis, 2020

Figure 8: Global Insulation Market Revenue Share, by Product Segment, 2020 and 2031

Figure 9: Global Fiberglass Insulation Market, 2020–2031 (US$ Bn)

Figure 10: Global Plastic Foam Insulation Market, 2020 – 2031 (US$ Bn)

Figure 11: Global Mineral Wool Insulation Market, 2020 – 2031 (US$ Bn)

Figure 12: Global Market for Other Insulation Materials, 2020 – 2031 (US$ Bn)

Figure 13: Global Insulation Market Revenue Share, by Application, 2020 and 2031

Figure 14: Global Insulation Market in Residential Construction, 2020 – 2031 (US$ Bn)

Figure 15: Global Insulation Market in Industrial, HVAC, and OEM Applications, 2020 – 2031 (US$ Bn)

Figure 16: Global Insulation Market in Non-residential Construction, 2020 – 2031 (US$ Bn)

Figure 17: Insulation Market Revenue Share, by Region, 2020 and 2031

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