"Insulation Unveiled: Analyzing Growth Dynamics in the Thermal Insulation Market (2023-2028)"

April 26, 2024

April 26^th,2024/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Thermal Insulation Market.

The Thermal Insulation Market report studies the market covering 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

“The Thermal Insulation Market is likely to grow at a significant CAGR of 3.1% over the next five years to reach a value of US$ 67.7 billion in 2028”. The market rebounded in 2021, followed by healthy growth in 2022. Stringent energy efficiency regulations and building codes, an increase in construction activities, growing infrastructure spending, rising industrial projects, growing awareness about climate change and environmental sustainability, and a growing prioritization of comfort and well-being in homes and workplaces are likely to fuel the growth of the market during the forecast period.

Segments Analysis

By Material Type

“Plastic foam is expected to remain the largest material type in the market during the forecast period”.

The thermal insulation market is segmented into fiberglass, mineral wool, plastic foam (expanded polystyrene [EPS], extruded polystyrene [XPS], polyurethane, and polyisocyanurate [PIR]), and others. Plastic foam is expected to remain the largest material type in the market during the forecast period owing to advantages such as its high insulation value and low water absorption, resistance to mold and mildew growth, versatility, low thermal conductivity, longevity, fire resistance, and ease of installation. Among plastic foam, expanded polystyrene (EPS) is expected to remain the largest plastic foam type in the market during the forecast period owing to its lightweight durability, versatility, and cost-effectiveness properties.

By End-Use Type

“Building & Construction is expected to remain the dominant as well as the fastest-growing end-use in the market during the forecast period”.

The market is segmented into building & construction and industrial. Building & Construction is expected to remain the dominant as well as the fastest-growing end-use in the market during the forecast period, driven by changing trends toward eco-friendly buildings that provide efficient acoustic and thermal insulation for residential, commercial, and industrial uses

Regional Analysis

“Asia-Pacific is expected to remain the largest market for thermal insulation during the forecast period”.

The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Asia-Pacific is expected to remain the largest market for thermal insulation during the forecast period. An increase in investment in the construction industry, growing infrastructure development in key countries, and rising adoption of stricter building codes are key factors driving thermal insulation’s demand in the region. Europe and North America are also likely to create sizeable opportunities in the coming five years, driven by rising awareness of green construction and smart infrastructure and higher adoption of advanced technologies.

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Features of the Report

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Thermal Insulation Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

About Stratview Research

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Author : Emily