글로벌 단열재 시장 – 2023-2030

Overview
Global Thermal Insulation Market reached US$ 68.9 billion in 2022 and is expected to reach US$ 119.5 billion by 2030, growing with a CAGR of 6.2% during the forecast period 2023-2030.
The development and application of green insulating materials have been influenced by the movement toward sustainability and environmental friendliness. The environmental effect of these materials is lessened since they frequently contain recycled material, natural fibers or renewable resources.
The materials and technology used in the thermal insulation sector are constantly improving. Innovative insulating materials with increased thermal resistance, enhanced fire resistance and environmental friendliness are being developed by manufacturers. In addition to improving thermal insulation's efficacy, these technical developments also help the market as a whole flourish as people and organizations look for better solutions.
Asia-Pacific dominates the thermal insulation market coovering more than 67.7% in 2022 due to growing infrastructure development. Thermal insulation is necessary for these sectors to improve energy efficiency and operational performance in applications including HVAC systems, tanks and pipelines. The need for thermal insulation materials for these applications is rising as industrial activity increases.
Dynamics
Expanding Consumer Demand for Roofs and Walls Insulation Developments
The significance of having enough insulation in houses and other structures is becoming more and more apparent to consumers. It realise that effective insulation in the roof and walls can result in energy savings, increased comfort and less ecological damage. The United States Environmental Protection Agency (EPA) estimates that heating and cooling systems in buildings utilize 43% of the total energy consumed in the country, which results in significant greenhouse gas emissions and air pollution.
Therefore, lowering pollutants, air pollution and overall energy consumption requires good building insulation. Buildings may save 45% to 55% on their heating and cooling expenditures by insulating their walls and roofs.
Furthermore, thermal insulation provides a multitude of benefits, including reduced energy consumption, fire resistance, improved indoor air quality, prevention of moisture condensation and environmentally friendly solutions. Due to these advantages, customer preference for roof and wall insulation has been rising recently, which is anticipated to propel the thermal insulation market.
Increasing Demand for Product Products in the Construction Industry
The globally economy is largely driven by the construction industry, which is regarded as the foundation of national prosperity. As per Volvo CE, the construction sector has experienced an increase in building activities in various regions since the fourth quarter of 2020. South America saw a 12% growth, Asia experienced a 39% increase, Europe observed a 20% rise and China recorded a 28% uptick in 2020.
Additionally, with a total investment of about EUR 200 million (or US$ 236.5 million), YIT Corporation began building several residential tower projects in Finland, the CEE countries and Russia in December 2021. Anticipated completion of these projects is set for the conclusion of 2023. Consequently, with global construction projects gaining momentum, there is a projected uptick in the demand for thermal insulation materials like mineral wool, expanded polystyrene and extruded polystyrene, which are utilized in insulating roofs, walls and floors of residential or commercial buildings..
Rising Sustainability and Environmental Regulations
The thermal insulation industry is impacted by tightening environmental regulations and rising sustainability concerns. Governments and international organizations are demanding stricter standards to reduce greenhouse gas emissions and improve building energy efficiency. It tendency is in line with the goals of the insulation sector, which is to decrease heat loss and energy usage.
The initiative could lead manufacturers to spend more money and lose production time, which they may subsequently pass on to customers in the Temperature Range of higher manufacturing costs. Customers who value sustainability are also demanding insulation products with lower environmental footprints, which is driving the industry to develop and adopt more effectively
High Cost of Thermal Insulation Raw Materials
The market is extremely sensitive to fluctuations in the price of raw materials, so both manufacturers and consumers may have problems. Numerous insulating materials, such as fiberglass and Temperature Range plastics, are dependent on petroleum-based feedstocks, making them vulnerable to changes in oil prices. The dynamics of supply and demand for specific raw materials, like mineral wool, can also cause price volatility.
Additionally, the raw material costs grow significantly, insulation companies are unable to maintain their pricing competitively, which might reduce consumer demand from consumers on a tight budget. By controlling these price changes and ensuring consistent pricing, which necessitates strategic planning and risk management on the part of industry players, the market for thermal insulation may be severely limited.
Segment Analysis
The global thermal insulation market is segmented based on product, temperature range, material, end-user, application and region.
Rising Use of Fossil Fuels of Thermal Insulation in Building and Construction
Green structures are also effective or high-performance buildings. "Green building" is the process of creating, operating, maintaining, renovating and deconstructing structures using practices that are resource- in addition, according to U.S. Environment Protection Agency (EPA). Renewable energy constructions are added to green building design, which emphasizes cost, utility, durability and comfort.
Additionally, the buildings account for 40.1% of energy use, therefore thermal insulation is employed to reduce the high energy requirement. Rising energy costs, energy scarcity and pressure to limit global warming brought on by the use of fossil fuels are the main drivers driving the use of building thermal insulation.
Geographical Penetration
Expanding Oil Production, Insulating Materials are Using in Asia-Pacific
Asia-Pacific has been a dominant force in the global thermal insulation market and with the expanding oil production, insulating materials are being used much more frequently in many emerging nations, including India and China. Therefore these nations contribute to nearly 66.7% of the regional market with the increasing demand for insulation in restoration and renovation projects, insulation is frequently utilized to cut down on energy waste.
According to insulation.org, high-temperature applications are typically employed in turbines, breechings, stacks, exhausts, incinerators, boilers, etc. and have a range of 600°F to 1500°F. Additionally, insulation can only be used up to a temperature of 2300°F; anything above that temperature requires refractory materials, such as melting furnaces. Pipes, industrial ovens and furnaces all employ high-temperature thermal insulation.
These materials find applications across various industries and thermal processing facilities. Moreover, pipelines and equipment can receive insulation tailored to specific application needs. Consequently, there is a rising demand for high-temperature thermal insulation in the region.
According to Published in 2023 by the Indian Bureau of Mines, Perlite offers thermal insulation, improved fire resistance, reduced noise transmission and resistance to termites, rot and vermin. The best insulation against low temperatures is perlite. A lightweight, fire-resistant, insulating concrete that is perfect for roof decks and other applications is created when perlite is utilized as an aggregate in concrete.
In addition, Perlite is also used as an aggregate in plasters made of gypsum and Portland cement (green plaster), which protects beams and columns from fire in external applications. Other building uses include lightweight curtain/partition walls, noise reduction, under-floor insulation, chimney lining, paint texturing, ceiling tiles and roof insulation boards. Expanded perlite-based concrete is known as perlicon. The presence of two to six percent mixed water causes the expansion.
COVID-19 Impact Analysis
The COVID-19 pandemic had a wide-ranging effect on the world market for thermal insulation. Due to lockdowns, supply chain disruptions and labor shortages, the construction industry, a significant user of thermal insulation materials, experienced short-term disturbances that resulted in project delays and decreased demand.
Additionally, the pandemic's economic unpredictability caused several development projects to be delayed or neglected which harmed market expansion. However, in the long run, the pandemic highlighted the significance of energy efficiency and indoor environmental quality. People are spending more time indoors, thus there is a greater emphasis on modernizing and retrofitting buildings with higher insulation to promote comfort and save energy expenses.
The demand for thermal insulation materials has increased as a result of government stimulus programs, green building incentives and energy-efficient rehabilitation incentives. As the world recovers from the pandemic, this shift towards sustainability and energy efficiency is anticipated to fuel the thermal insulation market's growth.
Furthermore, many insulation material producers experienced operating difficulties, such as personnel shortages and closures. It affected production capabilities and occasionally resulted in material shortages, which had an impact on lead times and cost. The pandemic also spurred remote work and digitalization, which raised demand for sophisticated insulation technologies used in smart and sustainable building solutions.
Russia-Ukraine War Impact Analysis
The global thermal insulation market has witnessed substantial impacts from the Russia-Ukraine conflict. Initially, the conflict created challenges in transporting the essential raw materials needed for thermal insulation production. Mineral wool, a crucial component of insulating products, is one of the elements that Ukraine is a major provider produces.
Additionally, manufacturers globally have been hampered by the unpredictability of these commodities' availability and cost due to the instability in the region. It has therefore increased the price of insulating materials and reduced the market's ability to stay competitive. Increased demand for thermal insulation materials has been sparked by Europe's significant investments in energy efficiency.
The globally thermal insulation market will be affected by this increasing demand in both the short and long terms, with chances for growth in the European region and potential changes to supply chains internationally. Overall, the Russia-Ukraine conflict has increased market instability and unpredictability for thermal insulation, highlighting the significance of industry participants' diversification and adaptation.
By Product
• Cellular Material
• Fibrous Material
• Granular Material
By Temperature Range
• -160°C to -50°C
• -49°C to 0°C
• 1°C to 100°C
• 101°C to 650°C
By Material
• Stone Wool
• Glass Wool
• Plastic Temperature Range
• Others
By End-User
• Building & Construction
• Oil & Gas
• Aerospace & Aviation
• Mechanical Systems
• Clothing
• Automotive
• Industrial
• Others
By Application
• Roof Insulation
• Wall Insulation
• Floor Insulation
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• On August 03, 2021, Owens Corning launched its PINK Next Gen Fiberglass insulation that uses advanced fiber technology. In comparison to its previous solutions, the new product offers a superior insulating solution and allows for up to 23% quicker installation. It are committed to enhancing their market position, as seen by this tactical move.
• On April 13, 2021, Atlas Roofing Company introduced SureSlope prefabricated tapered products. The new product line is made up of closed-cell polyisocyanurate Temperature Range laminated to organic or inorganic coated glass faces that aren't made of asphalt. It is made up of roof insulation parts that are perfect for roof applications and take less time to construct.
• On January 20, 2020, Hyderabad Industries Ltd.'s (HIL) thermal insulation division was acquired by Imerys Group, a French firm with a focus on mineral-based specialty, for INR 80 crore. A US$1,600,000,000 portion of the CK Birla Group includes HIL. The acquisition was primarily done to increase the company's offering of infrastructure products and building materials.
Competitive Landscape
The major global players in the market include Johns Manville Corporation, Saint-Gobain S.A., BASF SE, Kingspan Group plc, Knauf Insulation, Inc., Owens Corning, Huntsman Corporation, Rockwool International A/S, Firestone Building Products Company and Cabot Corporation.
Why Purchase the Report?
• To visualize the global thermal insulation market segmentation based on product, temperature range, material, end-user, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of thermal insulation market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global thermal insulation market report would provide approximately 77 tables, 84 figures and 216 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies