Thermal Insulation Material Market Size, Share, Demand & Trends by 2031

 Increasing demand from the construction and automotive industries for temperature control and energy efficiency is expected to fuel the demand for thermal insulation material. According to a new study by Future Market Insights (FMI), the market for thermal insulation material is set to rise steadily with a CAGR of over 4% through the end of the projection period in 2031.

The global demand for thermal insulation materials has rapidly gained traction owing to concerns associated with energy conservation. Strict government regulations associated with emissions from construction and automotive sector operations will drive long-term demand.

In building operations, thermal insulation also provides benefits in supporting auxiliary building structures including roofs and flooring. Niche applications in aerospace structures in addition to investments into smart city infrastructure are providing impetus to investments into product research & development, with a focus on material and design.

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End-user specific customization of product offerings on the basis of density, thermal conductivity, thickness and more will influence developments in the market for the foreseeable future. The growing demand for thermal insulation materials, particularly from emerging economies will offer key growth opportunities.

On the other hand, the volatility in the pricing of raw material will challenge the growth of market participants. Market vendors are more likely to focus on the growth prospects in the fast-growing segments, while consolidating their positions in relatively slower-moving products.

Key Takeaways of Thermal insulation material Market Study

• Thermal insulation material sales to increase at above 4% CAGR through the assessment period.
• Backed by strong demand from the building and construction sector, insulation for 1ºC to 100ºC will hold the lead in 2021.
• Continuing issues in terms of energy supplies in the U.K. and Germany markets to register higher growth.
• United States is projected to record strong demand driven by rising applications in automotive sector.
• China will emerge as a high potential market, with investments in urbanization and manufacturing efforts in the country.

“Thermal insulation materials find widespread applications in spacecraft, buildings, clothing, mechanical systems, and in automotive offerings among others. Customization on the basis of specific heat capacity, thickness, surface emissivity, thermal bridging, thermal conductivity, and density will support demand as per the requirements of the target area,” Says an FMI analyst.

Who is Winning?

The global thermal insulation material market can be considered as moderately consolidated, with a few leading players accounting for a prominent share of the overall thermal insulation material market. Manufacturers are increasingly focused on investments into research and development aimed towards new product launches.

Key market participants including BASF SE, Asahi Kasei Corporation, Rockwool International A/S, E. I. du Pont de Nemours and Company, Bayer AG, Berkshire Hathway (Johns Manville), Dow Chemicals Company, Owens Corning, Saint Gobain S.A., and Kingspan Group PLCamongst others are also focusing on consolidating their presence in the global market by entering into strategic industry collaborations with other market participants.

Key Segments

Material Type

• Stone Wool
• Fiber Glass
• Plastic Foam
• Others

Temperature Range

• -160°C to -50°C
• -49°C to 0°C
• 1°C to 100°C
• 101°C to 650°C

Region

• North America (U.S. & Canada)
• Latin America (Mexico, Brazil, Argentina, Chile, Peru, & Rest of LATAM)
• Western Europe (Germany, U.K., France, Italy, Spain, BENELUX, Nordic, & Rest of W. Europe)
• Eastern Europe (Russia, Poland, CIS Countries and Rest of E. Europe)
• Middle East and Africa (GCC Countries, Turkey, South Africa, Israel, & Rest of MEA)
• Japan
• Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, & Rest of APEJ)

Table of Content

1. Executive Summary

2. Assumptions & Acronyms Used

3. Research Methodology

4. Market Overview

To be continued…!

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