Sustainable Thermal Insulation Material to Remain Highly Sought-after in Building & Construction Industry: FMI Study
2021 Analysis and Review: Thermal Insulation Material Market by Material Type – Stone Wool, Fiber Glass, and Plastic Foam for 2021-2031
Dubai, United Arab Emirates – May 26, 2021 /MarketersMedia/ —
ESOMAR-certified consulting firm Future Market Insights has recently published a report on the global thermal insulation material market for the forecast period 2021-2031. According to the study, the market is expected to register positive growth, expanding at a CAGR of over 4.2% through 2031. Growing demand for the construction of green building is pushing manufacturers to invest heavily in research & development activities on sustainable thermal insulation materials. This will create impressive growth opportunities for the market in the coming years.
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According to FMI’s analysis, stringent government regulations and initiatives undertaken to encourage the construction of zero energy buildings are improving the adoption of thermal insulation materials. Also, development of smart cities in various countries will be a key factor fueling thermal insulation material sales. Thermal insulation material market is estimated to witness high demand in India, Germany, China, and the United States owing to the high demand of sustainable construction materials within the building & construction industry. On the back of these factors, the global thermal insulation material market is expected to surpass a valuation of US$ 54 Bn through 2021 & beyond.
Furthermore, some of the leading manufacturers are upgrading their product portfolios and increasing the production of eco-friendly thermal insulation material products to meet the requirement of government and regulatory bodies. For instance, in December 2020, DS Smith packaging solution launched a new sustainable packaging solution for temperature sensitive deliveries, ClimaCell, a suitable thermal insulation barrier for temperature sensitive goods, groceries and products.
“Increasing application in building & construction sector is pushing the manufacturers to focus on developing sustainable and green products. This is accelerating thermal insulation materials demand,” says the FMI analyst
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Key Takeaways
Thermal insulation in the range of 1°C to 100°C segment is expected to hold over 60% of total market share
Plastic foam insulation is expected to lead the segment through 2021 and beyond
Backed by highly active construction industry, United States is expected to dominate the North America thermal insulation material market
Extensive usage of thermal insulation materials to reduce energy consumption levels across Germany will provide lucrative opportunity for the market players
India and China, collectively, are expected to reach a valuation of US$ 10.5 Bn through 2021
UK is expected to lead the Europe thermal insulation material market through 2031
Competitive Landscape
Asahi Kasei Corporation, BASF SE, E.I. du Pont de Nemours and Company, Rockwool International A/S, Berkshire Hathway (Johns Manville), Bayer AG, Owens Corning, Dow Chemicals Company, Kingspan Group PLC, and Saint Gobain SA among others are some of the leading thermal insulation material manufacturers profiled by FMI’s report. As per FMI’s study, the market is moderately fragmented. Prominent manufacturers are focusing on product development and launches to expand their portfolios along with strategic collaborations & partnerships with top players.
For instance, on 15th February 2021, Hira Industries, a building and construction products company announced the launch of Aerofoam NBR Lap Seal Tubes, a thermal insulation product for the construction of building.
Also, in August 2020, Armacell announced the launch of ArmaGel DT, a next generation flexible aerogel blanket for dual-temperature and cryogenic applications.
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More Insights on the Global Thermal Insulation Material Market
In its latest report, FMI offers a detailed segmentation on the global thermal insulation material market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material (stone wool, fiber glass, plastic foam, and others), temperature range (-160°C to -50°C, -49°C to 0°C, 1°C to 100°C, 101°C to 650°C) across major regions (North America, Latin America, Eastern Europe, Western Europe, Middle East & Africa, Japan and Asia Pacific excluding Japan)
Key Questions Covered in the Report
Which is the most lucrative market for thermal insulation material?
Which are the major companies leading the global thermal insulation material market?
What are the key challenges faced by thermal insulation material suppliers?
Which factors will drive the sales of thermal insulation material market?
Which type of thermal insulation material is the most preferred?
What is the impact of Covid-19 on thermal insulation material market?
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Electrical Insulation Materials Market: FMI’s recent report on the electrical insulation materials market elaborates on key expansion dynamics anticipated to shape the future outlook of the landscape across prominent geographies. Moreover, statistics about key segments along with a detailed competitive landscape enhance the reliability of this research study.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/thermal-insulation-material-market
Source: MarketersMedia
Release ID: 89019776
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