According to a new market report published by Lucintel, the future of the building thermal insulation market looks good with opportunities in the residential and non-residential segments. The global building thermal insulation market is expected to reach an estimated $31.8 billion by 2021 with a CAGR of 4.6% from 2016 to 2021. The major drivers of growth for this market are stringent government regulations on the reduction of greenhouse gas emission and to increase energy efficiency.
In this market, fiberglass, plastic foam, stone wool, and cellulose fiber are the major insulation materials. Lucintel forecasts that the fiberglass material segment is likely to experience the highest growth during the forecast period due to its environment-friendly and better flame-retardant properties. On the basis of its comprehensive research, Lucintel predicts that wall and floor applications are expected to show above-average growth during the forecast period.
Within the building thermal insulation market, residential is expected to remain as the largest market by value and volume. Growth in housing demand and increasing awareness towards energy efficiency which would spur growth for this segment over the forecast period.
Europe is expected to remain as the largest market due to the stringent government regulations to lower energy consumption and reduction in greenhouse gas emissions.
Asia Pacific is expected to witness good growth over the forecast period because of increasing awareness related to energy efficiency and growth in housing demand.
For business expansion, the report suggests innovation and new product development to enhanced fire-retardant properties and environment-friendly insulations. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user.
The emerging trends, which have a direct impact on the dynamics of the industry, include shift towards greener insulation alternatives and increasing demand for high-temperature thermal insulation. Owens Corning, Kingspan Group, Saint-Gobain, Rockwool, and BASF are among the major suppliers of building thermal insulation. There are some companies that are opting for merger and acquisition as a strategic initiative for driving growth.
This 182-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/global_building_thermal_insulation_market_16_21.aspx or helpdesk@lucintel.com.
Q.1: What are some of the most promising, high-growth opportunities for the global building thermal insulation market by material, (plastic foam, fiberglass, stone wool, and others), applications (wall, roof, and floor), end use (residential and non-residential) and regions (North America, Europe, APAC and ROW)?