North America Building Thermal Insulation Market Is Expected To See Growth Rate Of 2.7% By 2027

Comments · 14 Views

The North America building thermal insulation market size was estimated at USD 11.13 billion in 2019. It is expected to expand at a compounded annual growth rate (CAGR) of 2.7%, in terms of revenue, from 2020 to 2027.

North America Building Thermal Insulation Industry Overview

The North America building thermal insulation market size is expected to reach USD 13.83 billion by 2027, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 2.7% in terms of revenue during the forecast period. Rising consumer awareness, demand for thermal insulation materials, and favorable regulations owing to the focus on lowering the overall energy consumption are the factors expected to drive market growth.

North America Building Thermal Insulation Market Segmentation

Grand View Research has segmented the North America building thermal insulation market based on product, application, end-use, and region:

Based on the Product Insights, the market is segmented into Glass Wool, Mineral Wool, EPS, XPS, Cellulose, PIR, PUR, Others.

  • The glass wool segment led the market and accounted for more than 39.0% of the total revenue in 2019, based on its use in diverse applications for efficiency, acoustic insulation, and fire safety. It is also cost-effective, versatile, and easily customizable, thereby accounting for a significant demand for building insulation.
  • Thermal insulation materials are used in the construction of buildings, which decreases the building's overall energy consumption, aiding the regulation of the temperature in the interiors, thereby making it sustainable. The material selection is the primary influencing factor responsible for increasing the building systems' energy efficiency.
  • Expanded polystyrene (EPS) is one of the most commonly used foamed plastics for building thermal insulation. It is a type of insulation material with superior properties, such as sound absorption, lightweight, and quakeproof.
  • Other products used include PU foam and PIR foam. Polyurethane foam (PU foam) is one of the most efficient materials widely used in renovation activities where the focus is on increasing the structure's energy efficiency.

Based on the Application Insights, the market is segmented into Roof, Walls, Floor.

  • The walls segment led the North America building thermal insulation market and accounted for more than 39.0% of the total revenue share in 2019; it adopted high-class architecture and maintained high energy efficiency standards in residential and commercial structures.
  • Walls play a vital role in maintaining the building energy consumption benchmarks. This factor is projected to fuel the growth of the segment in near future.
  • Insulation products are used in industrial applications to increase the processing system's reliability and efficiency by minimizing thermal losses in heat transfer to reduce energy consumption.
  • The demand for building thermal insulation for walls is expected to expand at a significant CAGR of 3.0% over the projected period. Insulated walls and insulated roofs create a protective envelope that eliminated heat transfer from the external environment through conduction and convection radiation.
  • Other applications include industries, roofs, and floors. The roof is projected to witness a significant CAGR of 2.7% by 2027, owing to commercial spaces across the globe, especially in emerging economies.

Based on the End-use Insights, the market is segmented into Residential, Commercial.

  • The residential segment led the market and accounted for more than 55.0% share of the total revenue in 2019, on account of growth in the number of single-family houses in developing economies and rising disposable income of the consumers. Growing construction spending in the U.S. is expected to propel the growth across the forecast period.
  • The commercial segment is projected to witness a significant CAGR of 2.6% over the forecast period. The commercial construction segment includes buildings for office spaces, universities, hypermarkets, supermarkets, departmental stores, shopping malls, hospitals and clinics, restaurants and hotels, resorts, and others.

North America Building Thermal Insulation Regional Outlook 

  • North America
  1. U.S.
  2. Mexico
  3. Canada

Key Companies Profile Market Share Insights

The regional market for building thermal insulation is competitive, owing to the presence of a large number of significant players in the market. The market has been witnessing an increasing trend of organic growth. Companies in the market are focusing on expanding their product portfolio with enhanced properties.

Some prominent players in the North America building thermal insulation market include

  • Anco Products, Inc.
  • Atlas Roofing Corporation
  • Cellofoam North America Inc.
  • Certain Teed Corporation
  • GAF Material Corporation
  • Huntsman International LLC
  • Johns Manville Corporation
  • Knauf Insulation
  • Owens Corning
  • ROCKWOOL Insulation A/S
  • Dow Inc.
  • DuPont
  • Kingspan Group

Order a free sample PDF of the North America Building Thermal Insulation Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments