Building Insulation Materials Global Market Report 2022: Sector to Reach $30.96 Billion by 2026 at a 4.8% CAGR - ResearchAndMarkets.com

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The global building insulation materials market is expected to grow from $23.70 billion in 2021 to $25.66 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The building insulation materials market is expected to grow to $30.96 billion in 2026 at a CAGR of 4.8%.

The building insulation materials market consists of sales of vermiculite, cementitious foam insulation, extruded polystyrene (Xps), and phenol formaldehyde resin. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

North America was the largest region in the building insulation materials market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the building insulation materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The materials involved in building insulation materials are fiberglass, mineral wool, cellulose, polyurethane foam, polyisocyanurate foam, polystyrene, aerogels, and others. Fiberglass refers to a sturdy, lightweight material made of tiny glass fibers that can be woven together or used for reinforcing. The different insulation types include bulk and reflective that are used for wall insulation, underfloor insulation, ceiling or roof insulation, and window insulation, and other applications. The several end users include residential, commercial, and industrial.

The increasing construction activities are expected to propel the growth of the building insulation materials market going forward. Construction activities refer to any activity that is essential for building or structural construction, destruction, assembly, alteration, installation, or equipment. Construction activities have been on the rise due to rapid industrialization and urbanization. These construction activities are creating a massive demand for insulation materials for the construction of residential and commercial buildings, as insulation refers to an energy-saving measure that lowers heat surplus in warm weather or climates and lowers heat loss in buildings in cold weather or climates.

For instance, according to a report published by Canada's national statistical agency, a Canada-based national statistical office, the investment in building construction increased from $14,294 million in April 2019 to $19,273 million in 2020. Furthermore, in the 2022 U.S. Construction Cost Trends report, in the U.S., there is a rise in residential construction which would continue to drive up demand for materials and labor, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, the increasing construction activities are driving the growth of the building insulation materials market.

Technological innovations have emerged as a key trend gaining popularity in the building insulation materials market. Major companies operating in the building insulation materials market are focused on innovating new technologies to sustain their position in the market.

For instance, in January 2021, Armacell, a Luxembourg-based manufacturer and supplier of industrial foams and flexible insulation materials launched a new AF/ArmaFlex generation, which satisfies fire class B/BL-s2, d0 and increases fire safety in buildings. The new elastomeric foam technology increases visibility in the event of a fire, which increases the amount of time that is available to evacuate a structure.

In the event of a fire, it smokes quickly spreads throughout the structure, obstructing escape and rescue routes and reducing sight. In comparison to other flexible elastomeric foam materials, AF/ArmaFlex Evo emits 50% less smoke, giving inhabitants more time to leave the structure and improving access for rescue crews.

Reasons to Purchase

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Scope

Markets Covered:

1) By Material: Fiberglass; Mineral Wool; Cellulose; Polyurethane Foam; Polyisocyanurate Foam; Polystyrene; Aerogels; Other materials

2) By Insulation: Bulk; Reflective

3) By Application: Wall Insulation; Underfloor Insulation; Ceiling or Roof Insulation; Window Insulation; Other Applications

4) By End User: Residential; Commercial; Industrial

Companies Mentioned

• Compagnie de Saint-Gobain S.A.
• BASF SE
• Kingspan Group plc
• Knauf Insulation Inc.
• Owens Corning
• Huntsman Corporation
• Rockwool A/S
• Cabot Corporation
• Dow Corning Corporation
• Covestro AG
• Atlas Roofing Corporation
• Johns Manville Corporation
• Paroc Group Oy
• Firestone Building Products Company LLC
• URSA Insulation S.A.

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