Thermal insulation is a method for transporting heat while keeping the inside at a constant temperature. By needing less energy to maintain a temperature and preventing heat transmission to the outer environment, thermal insulation in buildings lowers the carbon footprint.
Building thermal insulation market was valued at USD 23 billion in 2021 and is poised to expand at a CAGR of 5.7% over 2022-2030, thereby amassing USD 37.88 billion by end of the assessment timeframe.
Throughout the forecast period, the market for building thermal insulation is anticipated to expand moderately and continuously. It is crucial to comprehend the state of the market and how temperature extremes in various geographic regions affect it. Buildings require insulation to preserve temperature and guarantee that ideal conditions are maintained. Because it enables the conservation of vital energy by reducing heat or cooling loss, it is advantageous for both users and the environment.
The rise in thermal insulation measures is a result of the construction and building industry's ongoing expansion. Furthermore, these features are in charge of reducing indoor temperatures by reducing heat transfer components between habitats. By minimising the rate of heat transfer from the outside environment and using less energy to maintain the target temperature, the carbon footprint is further diminished. The infrastructure that insulation insulates benefits from properties like impact and fire resistance. When it comes to creating really good thermal insulation, these components are really alluring.
Market Players Covered:
Honeywell International Inc. (U.S.), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), ASSA ABLOY (Sweden) ADT (US), ABB (Switzerland), Robert Bosch GmbH (Germany), Ooma Inc., (U.S.), Delta Controls (Canada) SimpliSafe Inc., (U.S.), Armorax (U.S.), LG Electronics (South Korea and Legrand (France)
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Global Building Thermal Insulation Market: Segmental Assessment
By Product:
- Glass Wool
- Mineral Wool
- EPS
- XPS
- Others
By Application:
- Roof
- Walls
- Floor
By End Use:
- Residential
- Commercial
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Frequently Asked Questions (FAQ):
- What is the current size and CAGR of the global building thermal insulation market?
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- What are the major factors impacting market growth during the forecast period?
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