Research Nester published a report titled “Building Thermal Insulation Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalbuilding thermal insulation market in terms of market segmentation by material, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global building thermal insulation market is estimated to witness growth at a CAGR of ~3% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of application, into flat roof, external wall, internal wall, floor, and others, out of which, the external wall segment is anticipated to hold the notable share over the forecast period owing to the increasing use of thermal insulation to prevent the heat and cold in the environment enter the building through walls. Moreover, it is also helpful in maintaining the overall temperature inside the house, thus, contributing to the growth of the segment.
The global building thermal insulation market is estimated to grow on the back of increasing usage of artificial cooling and heating systems in residential, as well as, non-residential buildings. Over 6 million air conditioner units were sold in United States itself, in 2020. In fact, in 2018, the global sale of AC units crossed over 1.2 billion. Moreover, the rising global temperature has led to a significant raise in adoption of cooling systems, which, in turn, is estimated to boost the growth of the building thermal insulation market.
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On the basis of geographical analysis, the global building thermal insulation market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the extremely cold climatic conditions in the region, especially Canada, Alaska, and others. The high adoption of temperature control systems in the residential buildings of the United States, along with higher penetration of technology, are estimated to play key role in the growth of the market.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Global Warming to Boost the Demand of Building Thermal Insulation
According to National Aeronautics and Space Administration (NASA), the global temperature is increasing by 0.2 degrees Celsius per decade.
The rising global temperature, due to human activities, such as, deforestation, has raised the demand for thermal insulation in building to protect buildings from the excruciating heat. They also extend the cooling effect of artificial cooling systems in hot climates. Moreover, thermal insulation blocks the escape of heat generated from artificial heating systems, to keep houses warm in colder climates. This is estimated to boost the market growth.
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However, slow adoption and lack of awareness amongst people is expected to operate as key restraint to the growth of the global building thermal insulation market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global building thermal insulation market which includes company profiling of Huntsman Corporation, Knauf Insulation, Inc., Kingspan Group plc, BASF SE, Compagnie de Saint-Gobain S.A., Johns Manville, Covestro AG, Owens Corning, and Plersch Kaltetechnik GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global building thermal insulation market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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