Global Insulation Products Market Size 2024, Forecast To 2033
6 Mar, 2024
The insulation products market size has grown strongly in recent years. It will grow from $65.02 billion in 2023 to $69.25 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to energy efficiency regulations, the construction boom, rising awareness of environmental impact, government incentives, and rebates, climate variability, and extreme temperatures. The insulation products market size is expected to see strong growth in the next few years. It will grow to $87.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to stricter energy efficiency standards, renewable energy integration, focus on green building certifications, global urbanization trends, rising focus on indoor comfort. Major trends in the forecast period include high-performance materials, green and sustainable insulation, smart insulation technologies, health, and indoor air quality, digitalization in manufacturing.
Global Insulation Products Market Key Driver
Increased residential buildings are expected to propel the growth of the insulation products market. Residential buildings refer to the buildings used for housing. The trend for energy-efficient construction is creating demand for insulation products. For example, in January 2023, 1,406,000 new housing units were constructed in the USA, a 12.8% growth from January 2022. Therefore, increased residential buildings will drive the insulation products market. The market size in 2023 indicates a significant potential, and projections suggest further expansion by 2024 and 2028.
Get A Free Sample Of The Global Insulation Products Market ReportGlobal Insulation Products Market Segments
The insulation products market covered in this report is segmented –
1) By Insulation Type: Thermal, Acoustic, Other Insulation Types
2) By Material Type: Mineralwool, Fibreglass, Stone Wool, Polyurethane Foam, Flexible Elastomeric Foam, Other Materials
3) By Distribution Type: Online, Offline
4) By End-User: Building And Construction, Industrial, Transportation, Consumer, Other End Users
By Geography:The regions covered in the insulation products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the insulation products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global insulation products market report during the forecast period. The regions covered in the insulation products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Insulation Products Industry Players
Saint-Gobain S.A, Rockwool International A/S, Huntsman Corporation, Atlas Roofing Corporation, GAF Materials Corporation, Kingspan Group plc, BASF SE, Owens Corning, Knauf Insulation GmbH, Johns Manville Corporation, Bridgestone Corporation, Covestro AG, Armacell International Holding GmbH, DuPont de Nemours Inc., Cellofoam North America Inc., Recticel NV/SA, Lloyd Insulations (India) Limited, L'ISOLANTE K-FLEX S.p.A., Nichias Corporation, NMC SA, Paroc Group, Pittsburgh Corning Corporation, Polyglass S.p.A., Superglass Insulation Ltd., Superlon Worldwide Sdn Bhd, TechnoNICOL Corporation, Thermafiber Inc., Uralita SA.
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Insulation Products Market Overview
Insulation products refer to a substance that offers thermal insulation or reduces heat flow between objects. Insulation improves the thermal performance of the building envelope by decreasing heat gain in hot weather and heat loss in cold weather, lowering the need for cooling and heating.
Insulation Products Global Market Report 2023 provides data on the global insulation products market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The insulation products market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.