CHICAGO, May 15, 2024 /PRNewswire/ -- The report
"Insulation Products Market by Insulation
Type (Thermal, Acoustic), Material Type (Mineral Wool, Polyurethane
Foam, Flexible Elastomeric Foam), End-use (Building &
Construction, Industrial, Transportation, Consumer) - Global
Forecast to 2029", size is projected to grow from USD 65.9 billion in 2024 and reach USD 84.2 billion by 2029, at a CAGR of 5.0% from
2024 to 2029. Renovation and retrofitting projects in older
buildings contribute to the demand for insulation products as
owners seek to improve energy efficiency and comfort levels.
Browse in-depth TOC on "Insulation Products Market"
233 – Tables
55 – Figures
277 –
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Thermal Insulation is estimated to hold the most significant
share of the global insulation products market by type of
insulation.
By type of insulation, thermal insulation is estimated to
dominate the insulation products market globally. Escalating
utility costs, particularly for heating and cooling, are driving
the adoption of thermal insulation in both residential and
commercial buildings. By improving the thermal efficiency of
structures, insulation products help lower energy bills and
operating expenses over the long term. As consumers seek ways to
mitigate rising energy costs, the demand for thermal insulation
solutions that offer tangible economic benefits is on the rise.
By end-use industry, the building & construction segment
will lead the insulation products market during the forecast
period.
In terms of end-use industry, the building & construction
segment is anticipated to hold the leading position in the
insulation products industry. Insulation products are increasingly
integrated with other building systems to enhance overall
performance and efficiency. For example, insulation materials with
vapor barriers are essential for moisture control in building
envelopes, ensuring durability and preventing issues such as mold
growth. This factor is creating demand in this industry.
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By material type, the mineral wool segment will lead the
insulation products market during the forecast period.
Regarding material type, the mineral wool segment is anticipated
to lead in the insulation products industry. Mineral wool
insulation is considered environmentally friendly compared to some
synthetic alternatives, as it is made from natural and recycled
materials. Additionally, mineral wool products are typically
recyclable and contribute to reducing overall environmental impact.
With increasing emphasis on sustainable construction practices and
green building certifications, the demand for eco-friendly
insulation solutions like mineral wool is expected to grow
further.
During the forecast period, Asia
Pacific will lead the global insulation products
market.
In 2023, the Asia Pacific
region held the dominant share in the global insulation products
industry. Forecasts suggest this region will experience a
significant Compound Annual Growth Rate (CAGR) between 2023 and
2028. One crucial factor is the rapid economic growth and
urbanization in countries like China, India,
and Southeast Asian nations, resulting in a surging demand for
construction products.
Key Players
Some of the leading manufacturers of insulation products
profiled in this report are Covestro AG (Germany), Owens Corning Corp. (US), Rockwool
International A/S (Denmark),
Saint-Gobain ISOVER (France),
Knauf Insulation (US), Huntsman Corporation (US), Armacell
International S.A. (Luxembourg),
Johns Manville Corporation (US), Kingspan Group (Ireland), Soprema Group (France), Cellofoam International GmbH
(Germany), Recticel NV/SA
(Belgium), China Jushi Co. Ltd.
(China), and Rogers Corporation
(US).
Browse Adjacent Market: Foam and Insulation
Market Research & Consulting
Related Reports:
Acoustic Insulation Market - Global
Forecast to 2026
Polyurethane Foam Market - Global Forecast
to 2028
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