In terms of value, the building thermal insulation market is estimated to grow from USD 29.2 billion in 2023 to USD 37.0 billion by 2028, at a CAGR of 4.8%. Rising demand of building thermal insulation from industries such as wall insulation, roof insulation, and floor insulation for variety of applications is leading the market. During the forecast period, this is anticipated to expand the building thermal insulation market even more.
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Building Thermal Insulation Companies
The building thermal insulation market is growing, with major players playing a vital role in developing new and advanced products. Kingspan Group PLC (UK), Knauf Gips KG (Germany), Owens Corning (US), Rockwool A/S (Denmark), Saint-Gobain SA (France), BASF SE (Germany), Dow Inc. (US), Johns Manville Corporation (US), GAF Materials Corporation (US), CNBM Group Co., Ltd. (China), and Aspen Aerogels, Inc. (US) are key players in the building thermal insulation market. These players have adopted various growth strategies to strengthen their position in the market. These include new product launches, mergers and acquisitions, contracts, partnerships, and product development activities to further expand their presence in the building thermal insulation market.
KINGSPAN GROUP PLC
Kingspan Group PLC is a leading manufacturer of high-performance insulation and building envelope solutions. The company provides a range of products for floors, walls, and roofs. It has more than 212 manufacturing sites globally. The company’s stated goal is to hasten the transition of buildings to net zero emissions. The company has set high standards for sustainability and have reached net zero energy in their buildings. The company has a wide geographical presence in the regions of North America, South America, Europe, Middle East & Africa, and Asia Pacific.
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KNAUF GIPS KG
Knauf Gips KG, a multinational company, is a global provider of building materials with its headquarters located in Iphofen, Germany. The company manufactures and distributes building materials and construction systems comprising plasterboard, or plasterboard panels, gypsum plasters for both external and internal walls, gypsum moldings, trimmings, and insulating materials; glass wool, stone wool, and other insulation materials under the company Knauf Insulation. The company has extensive global reach with over 150 production sites worldwide in Europe, the Middle East, & Africa, North America, South America, and Asia Pacific.
Based on region, Europe stands out as the fastest-growing market for building thermal insulation. Europe’s dominance in the building thermal insulation market has been largely driven by technological innovation. The region is home to research and development centers as well as a bustling startup and innovation community that is concentrated on sustainable solutions. The market for building thermal insulation grew due to the growth in construction activities and the ease of recyclability of used building thermal insulation materials, leading to a substantial expansion of the building thermal insulation market in Europe.
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