SAN FRANCISCO, April 18, 2023 /PRNewswire/ -- The global insulation market size is expected to reach USD 102.47 billion by 2030, registering a CAGR of 6.6% according to a new report by Grand View Research, Inc. Rapid urbanization & industrialization and rising population in developing countries are estimated to boost the market growth in the projected period. Government initiatives to promote energy efficiency and sustainable development through insulation technologies are estimated to fuel the product demand from the industrial end-use segment. Initiatives through the Weatherization Assistance Program (WAP) by the U.S. government through federal funding to encourage the use of thermal insulation in low-income households are likely to drive the market growth in the North America region.
Key Industry Insights & Findings from the report:
- EPS insulation emerged as the largest product segment and accounted for a 27.3% share of the global revenue in 2021.
- The segment is estimated to continue its dominance over the forecast period due to the high demand for EPS on account of its lightweight and high-tensile plastic foam insulation property.
- Glass wool is expected to be the second-largest product segment by 2030 owing to its thermal and acoustic insulation properties, such as high tensile strength.
- China accounted for a dominant share of the Asia Pacific regional market in 2021. The market is expected to expand at a significant CAGR during the forecasted years due to the rising oil production in the country.
- The market is highly competitive owing to the presence of several multinational players that are primarily consolidated in Europe and North America, whereas Asia Pacific exhibits a limited presence of established players.
Read 171-page market research report, "Insulation Market Size, Share & Trends Analysis Report By Product (Glass Wool, Mineral Wool, EPS, XPS, CMS Fibers), By End-use (Construction, Industrial, HVAC & OEM), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Insulation Market Growth & Trends
Strict insulation codes and laws effectuated by the European regulatory authorities have increased awareness about rising energy costs and the need for energy efficiency. The demand for industrial insulation is also estimated to exhibit high growth owing to the growing thermal energy production, which calls for the extensive need for insulation to maximize efficiency. In addition, the market in the U.S. is expected to benefit from recovering non-residential building construction expenditures, particularly in the office and commercial segments. The rising awareness levels regarding environmentally friendly construction practices are expected to propel the product demand with an aim to reduce energy consumption.
Insulation Market Segmentation
Grand View Research has segmented the global insulation market based on product, end-use, and region
Insulation Market - Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Glass Wool
- Mineral Wool
- EPS
- XPS
- CMS Fibers
- Calcium Silicate
- Aerogel
- Cellulose
- PIR
- Phenolic Foam
- Polyurethane
Insulation Market - End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Construction
- Industrial
- HVAC & OEM
- Transportation
- Appliances
- Furniture
- Packaging
Insulation Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Middle East & Africa
List of Key Players of Insulation Market
- GAF Materials Corporation
- Huntsman International LLC
- Johns Manville
- Cellofoam North America, Inc.
- Rockwool International A/S
- DuPont
- Owens Corning
- Atlas Roofing Corporation
- Saint-Gobain S.A.
- Kingspan Group
- BASF
- Knauf Insulation
Check out more related studies published by Grand View Research:
- High Temperature Insulation Market- The global high temperature insulation market size is expected to reach USD 10.57 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 5.8% from 2022 to 2030. This growth can be attributed to the imposing of regulations related to the reduction of greenhouse gas emissions on the metal producing, cement, and oil and gas industries.
- Americas Pipe Insulation Market - The Americas pipe insulation market size is expected to reach USD 3.91 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 5.2% from 2022 to 2030. This growth is attributed to the growth of the chemical processing industry and increasing green building trends.
- Building Acoustic Insulation Market - The global building acoustic insulation market size is expected to reach USD 6.2 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.3% from 2021 to 2028. Rising investment in infrastructure, stringent building code, energy efficiency, and increasing living standards are augmenting the growth of the market.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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