Overview:

The plethora of thermal insulation energy materials is critical to conserve energy, bringing down the carbon footprint of buildings notably. And, as consciousness among people increase regarding the impact of their choices on environment and governments support the ECBC – Energy Conservation Building Code. It is a major set of guidelines intended towards reducing consumption of energy up to 50%.

And, these are leading to growth in the global thermal insulation materials market, which is set to grow at significant CAGR over the forecast period of 2016-2023. This sturdy growth curve will bestow the market with opportunities worth the last buck.

Some of the factors that are worth noting here in order to better grasp the nuances of the market growth are outlined below.

  • A hefty 85% increase in construction volumes is set to mark the coming ten years, period ending 2030. This is as per a new report, sponsored by PwC, which also states that the money that the market accrues over the period will be to the tune of USD 15.5 trillion. Three countries will dominate the upward trajectory the construction industry is set to plot over this period. These are the United States of America, India, and China. And, these will account for more than half of the overall growth. In percentage terms, this number is 57.
  • A large number of consumers are conscious of their choices today. They care if the building they are using are green. And, sometimes, are ready to pay extra for conscious products. Thus, as awareness levels regarding this increases, more and more consumers are hopping on-board, leading to a higher demand for thermal insulation material, which can lead to building maintain a high range of temperature without additional heating or cooling component. This in turn, will lead to further growth in the global thermal insulation materials market.

Thermal insulation materials are used to restrict the transfer of heat energy between two ends of differing temperature. Heat energy always flows from high temperature end to low temperature end. Heat energy in form of electromagnetic waves flow between objects in a range of radiative influence. Thermal insulation materials provide the insulation in which the radiative heat is reflected or heat conduction is reduced rather than being absorbed. Thermal insulation materials can be segmented on the basis of material type and temperature range of the insulation material. Furthermore, on the basis of material type, thermal insulation materials can be segmented into stone wool, fiberglass, plastic foam, and others. Likewise, on the basis of temperature range, thermal insulation materials can be classified into ranges from -160° C to -50º C, -49º C to 0ºC, 1ºto 100ºC, and 101ºC to 650ºC. Thermal insulation materials find application in various fields such as buildings, spacecraft, mechanical systems, clothing, natural animal insulation, and automotive, etc. Factors affecting the quality of thermal insulation materials include insulation thickness, specific heat capacity, thermal bridging, surface emissivity, density, and thermal conductivity. Globally, thermal insulation materials are used across industries to reduce energy consumption by maintaining the required temperature in the particular area.

Thermal insulation materials are employed in the construction industry to maintain temperature in the range of around 1ºC to 100ºC. Factors such as increasing investment in the construction industry, rising number of manufacturing units, and growing urbanization are expected to drive the thermal insulation materials market further during the forecast period. In order to maintain the energy standards, developed countries have formulated strict regulations to reduce their energy consumption. Additionally, developing economies such as India have adopted the Energy Conservation Building Code (ECBC) in a bid to help reduce the energy consumption by 30%-50% with the help of green building materials. Several nations are making efforts to be in line with the zero-energy standards in order to reduce the pollution generated in the production of thermal energy. Increasing concerns about environment are expected to prove to be a key opportunity for the growth of the thermal insulation market during the forecast period. However, high capital cost of thermal insulation materials is projected to act as a hurdle in the growth of the thermal insulation market. Thermal insulation material segmented between the temperature range of 1°C to 100°C is projected to indicate the highest growth till 2023. Residential buildings and commercial offices constituted more than 30% of the energy consumption, out of which approximately half the amount was utilized for the cooling and heating of buildings.

Increase in the use of LNG and other such substances is likely to propel the thermal insulation material market in Asia Pacific during the forecast period. In 2014, Asia Pacific accounted for the maximum share of the global thermal insulation material market. Middle East and Africa stood second in the growth of the thermal insulation materials market due to the storage of cryogenics in the petrochemicals industry. North America experienced a fair growth on account of rise in construction activities in 2014. Europe was estimated to show moderate growth due to increasing environmental norms such as Concerted Action Energy Performance (CAEP) of Buildings during the forecast period. Latin America is projected to demonstrate fair growth due to the presence of developing economies such as Brazil and Mexico during the forecast period.

Some of the key players in the thermal insulation market are Berkshire Hathaway, Inc., Saint Gobain S.A., Asahi Kasei Corporation, Kingspan Group PLC, BASF SE, Owens-Corning, Dow Chemical Company, Bayer AG, Rockwool International A/S, and E. I. du Pont de Nemours and Company.

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold 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.

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:

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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
  • Europe
  • 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.

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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.

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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?

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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.

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Thermal Insulation Materials Market

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