US Insulation Market Report 2023: Sector is Expected to Reach $15.22 Billion by 2028 at a CAGR of 4.56% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "The US Insulation Market: Analysis By Material Type (Foam, Glass wool, Stone wool, and Others), By End Market (Residential, Commercial, and Industrial), By Building Type (Renovation, and New Build) Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.

The US insulation market in 2022 stood at US$11.64 billion, and is likely to reach US$15.22 billion by 2028. The US insulation market is projected to grow at a CAGR of 4.56% during the forecast period of 2023-2028.

Insulation is a vital material used to reduce the transfer of heat, sound, or electricity in various applications. Insulation provides benefits, which include lower energy costs, decreased greenhouse gas emissions, improved indoor comfort, reduced noise pollution, and increased safety.

The focus on energy conservation and sustainability in recent years has boosted demand for insulation materials in the US market. Building codes and regulations mandating higher levels of insulation in new construction projects have further contributed to the growth of the insulation market.

The use of insulation in the residential, commercial, and industrial sectors is essential for creating more sustainable, cost-effective solutions while enhancing comfort and promoting safety.

Key Attributes:

Report Attribute	Details
No. of Pages	110
Forecast Period	2023 - 2028
Estimated Market Value (USD) in 2023	$12.18 Billion
Forecasted Market Value (USD) by 2028	$15.22 Billion
Compound Annual Growth Rate	4.6%
Regions Covered	United States

Market Dynamics

Growth Driver

• Rapid Urbanization
• Increase in Construction Spending
• Rapid Change in Climate
• Surge in Renovation Activities of Old Buildings
• Growing Awareness of Energy Conservation

Challenges

• Raw Material Price Volatility
• Regulatory and Environmental Concerns

Market Trends

• Increasing Penetration of Artificial Intelligence and Machine Learning
• Emerging Industrial Robotics
• Adoption of Renewable Energy
• Growing Inclination toward the Adoption of Smart and Energy-efficient Building Concepts
• Rising Demand for Temperature-Sensitive Products
• Advancement in Transportation Sector

Companies Mentioned

• Owens Corning
• Compagnie de Saint-Gobain S.A.
• Rockwool International A/S
• Huntsman Corporation
• Dow Inc.
• BASF SE
• Kingspan Group PLC
• Armacell International S.A.
• Covestro AG
• Berkshire Hathaway (Johns Manville)
• Carlisle Companies Incorporated
• Knauf Group (Knauf Insulation)
• GAF Materials Corporation
• Hood Companies, Inc.(Atlas Roofing Corporation)

Market Segmentation Analysis:

• By Material Type: The market report has segmented the US insulation market into four segments namely, foam, glass-wool, stone-wool, and others. In 2022, the foam segment dominates the market share as the foam insulation is propelled by heightened cognizance of energy-conservation measures. This substance offers superior insulating traits, contributing to elevated energy preservation and augmented living conditions. Consequently, the foam insulation sector thrives, dominating other insulation materials in the market, as individuals and businesses increasingly recognize its benefits in promoting eco-friendly, cost-effective, and comfortable living spaces.
• By End Market: Based on the end market, the US insulation market can be segmented into three segments: residential, commercial, and industrial. The residential insulation sector commands the largest market share in 2022 and is projected to be the fastest expanding segment, owing to heightened energy efficiency awareness. Improved insulation attributes yield greater energy conservation and enhanced comfort, bolstering US residential insulation demand. Factors such as increased consciousness of climate change, government initiatives like ENERGY STAR, and accessible insulation materials and technologies fuel this growth. The aging housing stock further drives market expansion from 2023-2028, as homeowners invest in retrofitting, boosting efficiency and reducing costs and emissions.
• By Building Type: The US insulation market can be divided into three segments based on building type: Renovation, and New Build. The Renovation segment of the US insulation market is expected to be the fastest-growing due to heightened energy efficiency awareness, and aging property stock. Renovation insulation, entailing insulation upgrades during refurbishment, bolsters energy efficiency, thermal comfort, and acoustic performance. Consequently, energy consumption and expenses decline. This thriving sector reflects a rising trend in retrofitting and modernizing older buildings to improve their overall performance, comfort, and cost-effectiveness in response to market demands and sustainability concerns.

For more information about this report visit https://www.researchandmarkets.com/r/n609sp

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