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.
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233 - Tables
55 - Figures
277 - Pages
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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
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Acoustic Insulation Market - Global Forecast to 2026
Polyurethane Foam Market - Global Forecast to 2028
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