The Thermal Insulation Material Market is projected to reach USD 96.0 billion by 2028, at a CAGR of 6.0% from USD 71.7 billion in 2023. The market growth is driven by factors such as increasing governmental initiatives for promoting the construction of new buildings, increasing demand of noise reduction, focus on indoor air quality and the energy efficiency regulations.
The key players in this market are Saint Gobain SA( France), Kingspan Group(Ireland), Rockwool International A/S(Denmark),Owens Corning(US), Knauf Insulation(US),BASF SE(Germany),Asahi Kasei Corporation (Japan),Recticel (Belgium),GAF Material Corporation (US),Evonik (Germany). These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions.
Saint Gobain SA
Saint-Gobain SA is a multinational corporation based in France that specializes in the production, processing, and distribution of materials and solutions for construction, transportation, infrastructure, and industrial applications. The company is a leader in the production of glass, high-performance materials, and building products.
Founded in 1665, the company operates through four business segments namely renovation / infrastructure this segment includes the production of high-performance materials such as ceramics, plastics, and abrasives, New residential construction materials segment includes such as insulation, gypsum, and roofing products, New non-residential construction materials segment includes the production of DIY stores glass containers for food and beverage, cosmetics, and pharmaceuticals and Industry segment comprise a number of different sectors (health, energy, metallurgy, non-metal raw materials, mineral extraction, chemicals, petrochemicals and semi-conductors) that find applications in security, industrial equipment and household appliances. Saint-Gobain has a presence in over 70 countries, with more than 170,000 employees worldwide.
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Kingspan Group is a global company headquartered in Kingscourt, County Cavan, Ireland. The company specializes in the production and distribution of high-performance insulation and building envelope solutions for residential, commercial, and industrial buildings. Kingspan was founded in 1965 and has grown to become a leading provider of sustainable building solutions.
Kingspan's products include insulation panels, roofing systems, facades, and lighting solutions. These products are designed to improve energy efficiency, reduce carbon emissions, and enhance the comfort and safety of buildings. The company's products are used in a variety of applications, including offices, schools, hospitals, warehouses, and industrial facilities. Kingspan operates in five main business divisions: Insulated Panels, Insulation Boards, Light & Air, Water & Energy, and Access Floors.
Thermal Insulation Material Market by Material Type (Fiberglass, Stone Wool, Foam, Wood Fiber), Temperature Range (0-100 ?, 100-500 ?, 500 ? And Above), End Use Industry (Construction, Automotive, HVAC, Industrial), And Region - Global Forecast to 2028
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