Allied Market Research

2024

Thermal Insulation Market

Thermal insulation Market Size, Share, Competitive Landscape and Trend Analysis Report, by Material, by Temperature range and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

CM : Engineering, Equipment and Machinery

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Author's: | Sonia Mutreja
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In most countries, governments are enthusiastically promoting construction of zero energy buildings, which thus boosts the demand for thermal insulation products on a global platform. Energy conservation in buildings in China and Japan has become strict in the past years. The thermal insulation market is expected to flourish due to the stringent regulations to curtail greenhouse gas emission. The improvement of green buildings is a major factor boosting the growth of the market during the forecast period. Reduction in the energy consumption and all its related cost, presence of rigid building energy policies along with rebates and tax credits is expected to positively impact the growth of the building thermal insulation market. The rise in residential and commercial application in the market along with the importance of energy conversation and implementation of stringent regulations boost the demand for building thermal insulation market. Furthermore, the considerably high energy requirements and tough government carbon targets provide various lucrative opportunities for the building thermal insulation market during the forecast period. 

COVID-19 impact analysis

  • COVID-19 pandemic has shut down the production of various products in the thermal insulation equipment industry attributed to the lockdown in countries worldwide. This has hampered the growth of thermal insulation equipment market from the last few months and is likely to continue during 2021.
  • COVID-19 has already affected the sales of the thermal insulation equipment in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
  • The major demand for the thermal insulation equipment was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for the thermal insulation equipment.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Thermal insulation equipment manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
  •  Thermal insulation equipment manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.

Top impacting factors
Key manufacturers of thermal insulation materials are highly concentrating on increasing the overall performance of materials. Application-specific materials are designed to reduce assembly and overall installation time because of the reduced thickness of material. Low thickness materials often provide benefits in material handling and also improve the load bearing capacity of the building structures, thus allowing the designers and architects to design an effective and efficient building structure. OEMs are demanding lightweight thermal insulation materials such as plastic foam to ensure lighter weight of end-products. For instance, heavier insulation material is used in refrigerators and incurs more in terms of labour costs for installation. On the other hand, lightweight thermal insulation material requires less effort and time for installation. As a latest trend many products are undergoing miniaturization by not compromising over the performance parameters. Thus, lightweight products become a preferred choice for manufacturers for complex and high quality end product designs. 
Mergers and acquisitions have become a popular business strategy for companies looking to expand into new markets or territories, gain a competitive edge, or acquire new technologies and skill sets. For instance, in May 2016, Saint-Gobain S.A. acquired Buitex Industries (France) that specializes in the manufacture of wood fibre insulation products for France and continental European markets. This acquisition enabled to expand its range of multi-material insulation solutions.
The launch of new products that contain improved capabilities have been launched by the leading market players. They have taken necessary steps to improve accuracy of devices and overall functionality as well. For instance, in June 2017, BASF SE launched Elastospray LWP, an eco-friendly spray foam insulation.  
A market expansion growth strategy, often called market development, entails selling current products in a new market, which also enable the companies to reach a broader geographical base. For instance, in July 2015, Owens corning announced to open a new facility in Joplin, U.S. to manufacture Thermafiber mineral wool insulation for commercial, residential, and industrial applications

Key benefits of the report

  • This study presents the analytical depiction of the thermal insulation equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the thermal insulation equipment market share.
  • The current market is quantitatively analysed to highlight the thermal insulation equipment market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed thermal insulation equipment market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the thermal insulation market report

  • Who are the leading global players in the thermal insulation market?
  • What are the current trends and predicted trends?
  • What is thermal insulation?
  • What is thermal insulation market prediction in the future?
  • What are the challenges faced in the thermal insulation market?
  • What are the driving factors and opportunities in the market? 
  • What are the key benefits of the thermal insulation market report?    

Thermal insulation Market Report Highlights

Aspects Details
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By Material
  • Plastic foam
  • Stone wool
  • Fibreglass
  • Other
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By Temperature range
  • -160 degree C to -50 degree C
  • -49 degree C to 0 degree C
  • 1 degree C to 100 degree C
  • 101 degree C to 650 degree C
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By Application
  • Roof insulation
    • Flat roof insulation
    • Itched roof insulation
  • Wall insulation
    • External wall insulation
    • Internal wall insulation
    • Cavity wall insulation
  • Floor insulation
    • Building type
    • Residential
    • Non-residential building
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Rockwool International, Saint-Gobain S.A., E. I. du Pont de Nemours and Company, Owens Corning, BASF SE, Asahi Kasei Corporation, Berkshire Hathaway (Johns Manville), Dow Chemicals Company, Kingspan Group, Bayer AG

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Thermal insulation Market

Global Opportunity Analysis and Industry Forecast, 2023-2032