North America Building Thermal Insulation Market Outlook
According to a new report by Expert Market Research titled, “North America Building Thermal Insulation Market Price, Share, Analysis, Report and Forecast 2023-2028″ the thermal insulation market reached a value of approximately USD 12.10 billion in 2022. Aided by the rising need for energy-efficient solutions and the broadening applications of thermal insulation in various building sectors, the market is expected to grow at a CAGR of 4.8% between 2023 and 2028, to reach a value of USD 16.03 billion by 2028.
Building thermal insulation is a vital element in the construction sector, serving to moderate internal temperatures, lower energy costs, and improve overall occupant comfort. It is used extensively in various building applications, including walls, roofs, and floors, in residential, commercial, and industrial sectors. Its role in energy efficiency, carbon footprint reduction, and occupant comfort enhancement is pivotal to the escalating demand in North America.
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The increasing consumer preference for energy-efficient solutions is significantly contributing to the North America building thermal insulation market growth. As awareness of the importance of energy conservation and the role of insulation in energy efficiency increases, there has been a considerable shift towards adopting better insulation practices, spurring demand for building thermal insulation. Furthermore, the growing trend of sustainable and green building practices has amplified the significance of insulation in the construction sector.
The expanding applications of thermal insulation across the building sectors also play a significant role in driving the North America building thermal insulation market. In the residential sector, thermal insulation is critical for comfort and energy savings, especially in regions with harsh winters or hot summers. The commercial sector utilises thermal insulation to optimise building energy performance and comply with stringent building codes and standards. The industrial sector relies on insulation to ensure safety and energy efficiency in large-scale facilities, thus increasing the North America building thermal insulation market demand.
Moreover, the increasing enforcement of building codes and regulations emphasising energy efficiency has led to a more substantial focus on building thermal insulation as an essential component in compliant construction. With the rise of initiatives aiming to reduce carbon footprint and enhance sustainability, thermal insulation has surfaced as a critical component in meeting these targets, thus propelling the North America building thermal insulation market expansion.
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North America Building Thermal Insulation Market Segmentation
The market can be divided based on product, application, end use, and country.
Market Breakup by Product
- Glass Wool
- Mineral Wool
- PU Foam
Market Breakup by Application
Market Breakup by End Use
Market Breakup by Country
- United States of America
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the North America building thermal insulation companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- BASF SE
- Saint-Gobain S.A.
- Huntsman International LLC
- GAF Materials LLC
- Knauf Insulation
- Owens Corning
- Anco Products Incorporated
- Atlas Roofing Corporation
- Cellofoam North America Inc
- Johns Manville
- Roxul Inc.
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