The global building thermal insulation market will grow to USD35.3-billion by 2027, at a CAGR of 4.7% from USD28-billion in 2022.
The use of building thermal insulation has witnessed significant growth because of the increasing requirement for improved heating and cooling comfort and better fire resistance of building thermal insulation materials, such as glass wool, stone wool and plastic foams. The key factor driving the building thermal insulation market is the recovery in new construction of residential and non-residential buildings worldwide.
By material, the building thermal insulation market is classified into glass wool, stone wool, plastic foam and others. Plastic foam is estimated to dominate the market during the forecast period due to its increasing use in external façade insulation, external wall insulation, sandwich panel and cavity wall insulation. The higher compressive strength and energy efficiency of plastic foam, especially EPS foam, is estimated to drive its demand in building thermal insulation.
By application, the building thermal insulation market is segmented into wall insulation, roof insulation, and floor insulation. Roof insulation is projected to be the second largest application of building thermal insulation in 2021. The increase in construction of non-residential buildings, such as industrial, commercial, educational, and healthcare buildings, is expected to drive the demand for roof insulation globally.
Building thermal insulation has wide usage in the medical industry. It is imperative for a drug to have a homogenous concentration in a solution; otherwise, it may not be as effective as it was designed to be. Building thermal insulation is added to the drug solution to form a finely dispersed solution. Tablets also have a certain amount of building thermal insulation added to them. By using building thermal insulation, the tablet disintegrates evenly inside the patient’s body, thereby working effectively. Homogenous distribution of the pigment or color in the tablet also requires building thermal insulation.