Lucintel’s latest market report analyzed that building thermal insulation provides attractive opportunities in residential and non-residential buildings. The building thermal insulation market is expected to reach $40.5 billion by 2027 with a CAGR of 4.6%. In this market, fiberglass is the largest segment by material, whereas residential is largest by end use industry. The shift towards greener insulation alternatives and increasing demand for high-temperature thermal insulation provides strategic growth path in this market.
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Based on material, the building thermal insulation market is segmented into plastic foam, fiberglass, stone wool, and others. The fiberglass segment is accounted for the largest share of the market in 2021 and witness the highest growth in the forecast period due to its environment-friendly and better flame-retardant properties.
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The building thermal insulation market is marked by the presence of several big and small players. Some of the prominent players offering building thermal insulation include Owens Corning, Kingspan Group, Saint-Gobain, Rockwool, and BASF.
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