As per a recently published report by Fortune Business Insights™ titled, “Building Thermal Insulation Market Size, Share & Industry Analysis, By Material (Mineral Wool {Glass Wool, Stone Wool}, Foamed Plastics {Expanded Polystyrene [EPS], Extruded Polystyrene [XPS], Polyurethane [PU], Polyisocyanurate [PIR], and Other Foamed Plastics}, Cellulose, Aerogels, and Others), By End-Use (Residential and Non-residential), By Application Area (Floor & Basement, Wall, and Roof & Ceiling), and Regional Forecast, 2019-2026,” the market value was USD 28.45 Billion in 2018 and will exhibit a CAGR of 4.4% between 2019 to 2026.
Need for Controlling Heat Transfer in Buildings will Add Impetus to MarketThe rise in building and construction activities worldwide is a major driver promoting the building thermal insulation market growth.
This is done by decreasing the heat transfer between adjacent environments and reduce the carbon footprint by constricting the heat conduction to the external surroundings.
Moreover, rapid modernization and industrialization have propelled the installation of thermal insulation systems in commercial buildings to conserve energy, and this will aid in the expansion of the market in the coming years.Regional Segmentation:Asia Pacific Emerged Dominant Owing to Stringent Regulations Imposed on Infrastructural DevelopmentAs per the current geographic segmentation, the market is dominated by Asia Pacific that earned USD 13.04 billion in 2018.
Additionally, governments in China and India have imposed strict rules on the consumption of energy in the coming five years, and this will further aid in the expansion of the market in the coming years.
On the other side, the North American market will rise substantially, owing to the increasing awareness among people about energy-saving technologies.Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/building-thermal-insulation-market-102708List of Players Functioning in Building Thermal Insulation Market are as following;Armacell S.A.Owens CorningKnauf InsulationDuPontCellofoam North America Inc.BYUCKSANBondor IndonesiaIMERYS GroupEvonikAtlas Roofing CompanyBeijing New Building Material (Group) Co., Ltd.Other vendorsConsolidated Nature will Further Intensify Market CompetitionThe market is consolidated in nature owing to the presence of many players.