Global Building Insulation Materials Market Is Expected To Reach USD 30.61 Billion By 2024
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Building insulation materials are the building materials which form the thermal envelope of a building or otherwise reduce heat transfer. Insulation may be categorized by its composition (natural or synthetic materials), form (batts, blankets, loose-fill, spray foam, and panels), structural contribution (insulating concrete forms, structured panels, and straw bales), functional mode (conductive, radiative, and convective), resistance to heat transfer, environmental impacts, and more. Sometimes a thermally reflective surface called a radiant barrier is added to a material to reduce the transfer of heat through radiation as well as conduction.
The global building insulation materials market is expected to reach USD 30.61 billion by 2024, growing at a CAGR of more than 5.62% from 22.05 billion in 2018; the actual sales is about 3133.57 million square meters in 2018. The building insulation materials market is relative concentrated market; key players includes Saint-Gobain, Kingspan Group, Rockwool International, Johns Manville, Owens Corning, Knauf Insulation, Dow, Paroc Group, GAF, Huntsman International, Byucksan Corporation, Atlas Roofing, Jia Fu Da, Lfhuaneng, Beipeng Technology, Taishi Rock, Cellofoam, BNBM Group; The revenue of top ten manufacturers accounts about 82% of the total revenue in 2018. The high-end products mainly come from Europe and USA.
The building insulation materials is classified into the Stone/Rock Wool, Glass Wool, EPS/XPS and Others (PU, PIR, etc.) according to the material type. As of 2018, Stone/Rock Wool segment dominates the market contributing more than 41.22% of the total market share. Followed by Glass Wool, which occupied 32.43% market share in 2018; building insulation materials mostly applied in residential and commercial bulidings.
Although the market competition of building insulation materials is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of building insulation materials and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.