Thermal Insulation Market is Forecasted to Reach US$ 67.7 Billion in 2028, Says Stratview Research

The global thermal insulation market is projected to witness a growth rate of 3.1% annually from 2023 to 2028, with an anticipated size of US$ 67.7 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global thermal insulation market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the Thermal Insulation Market:

The global thermal insulation market is segmented based on material type, end-use type, and region.

Based on material type – The thermal insulation market is segmented into fiberglass, mineral wool, plastic foam (expanded polystyrene [EPS], extruded polystyrene [XPS], polyurethane, and polyisocyanurate [PIR]), and others. Plastic foam is expected to remain the largest material type in the market during the forecast period owing to advantages such as its high insulation value and low water absorption, resistance to mold and mildew growth, versatility, low thermal conductivity, longevity, fire resistance, and ease of installation. Among plastic foams, expanded polystyrene (EPS) is expected to remain the largest plastic foam type in the market during the forecast period owing to its lightweight durability, versatility, and cost-effectiveness properties.

Based on end-use type – The market is segmented into building & construction and industrial. Building & Construction is expected to remain the dominant as well as the fastest-growing end-use in the market during the forecast period. Building & Construction is expected to remain the dominant as well as the fastest-growing end-use in the market during the forecast period, driven by changing trends toward eco-friendly buildings that provide efficient acoustic and thermal insulation for residential, commercial, and industrial uses.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for thermal insulation during the forecast period. This growth outlook is majorly attributed to the following–

• An increase in investment in the construction industry, growing infrastructure development in key countries, and rising adoption of stricter building codes are key factors driving thermal insulation’s demand in the region.
• Europe and North America will also likely create sizeable opportunities in the coming five years, driven by rising awareness of green construction and smart infrastructure and higher adoption of advanced technologies.

Thermal Insulation Market Drivers:

Some of the key drivers listed in the report are given below.

• Stringent energy efficiency regulations and building codes
• An increase in construction activities
• Growing infrastructure spending
• Rising industrial projects
• Growing awareness about climate change and environmental sustainability, and a growing prioritization of comfort and well-being in homes and workplaces are likely to fuel the growth of the market during the forecast period.

Thermal insulation currently holds a major chunk (>80%) of the overall insulation market (thermal and acoustic), and it is also expected to remain dominant during the forecast period.

Top 6 Companies in the Thermal Insulation Market:

Stratview Research has identified the following companies as the top market players (arranged alphabetically).

• BASF SE
• Kingspan Group
• Knauf Insulation
• Owens Corning
• Rockwool International
• Saint-Gobain

What Deliverables Will You Get in this Report?

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Related Reports:

• Insulation Market
• Building Thermal Insulation Market

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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