Building Insulation Materials Market Size (2024 - 2029)

Building Insulation Materials Market Analysis

The Building Insulation Materials Market size is estimated at USD 30.36 billion in 2024, and is expected to reach USD 37.26 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

Due to the impact of COVID-19 in 2020, the production facilities were halted for several months as lockdowns were implemented, and the supply chains were splintered. However, the market recovered from 2021 to 2022, owing to rising consumption from end-user industries, especially the residential industry.

• The growing demand for energy efficiency, infrastructure expansion, and industrialization in Asia-Pacific are the main factors anticipated to boost the demand for building insulation materials.
• Harmful effects caused by building insulation materials on exposure to high temperatures are expected to hamper the market's growth.
• The use of organic products for insulation may provide new growth opportunities for the market.
• Europe dominated the building insulation materials market. Asia-Pacific is projected to be the fastest-growing market due to the increasing consumption from countries such as China and India.

Building Insulation Materials Industry Segmentation

Building insulation materials are the building materials that reduce heat transfer and form a thermal envelope for the building. Building insulation materials contribute significantly to reducing energy consumption in buildings and sustain the affordability of the construction industry by improving the cost of energy and performance in the building envelope (walls, roofs, floors, etc.), windows, mechanical systems, as well as on-site renewable generation and thermal systems. Building insulation is a material that prevents heat or sound from being transmitted from one area to another. Building insulation is mainly for thermal and acoustic purposes. However, it is also used for impact resistance and fire insulation.

The building insulation materials market is segmented by type, end-user industry, and geography. The market is segmented by types into fiberglass, mineral wool, cellulose, polyurethane/ polyisocyanurate (PUR/PIR) foam, polystyrene, and other insulation materials (hemp, straw, etc.). By end-user industry, the market is segmented into residential and non-residential. The report also covers the market sizes and forecasts for the building insulation materials market in 27 countries across major regions. For each segment, the market sizing and forecasts are provided in terms of revenue (USD).