An increase in building and construction activities in commercial and industrial sectors drives the building insulation materials market, as stated by Persistence Market Research in its latest market study entitled “Building Insulation Materials Market”.
Building Insulation Materials Market Dynamics
The global building insulation materials market, by material type, spans fiberglass, mineral wool, cellulose, polyurethane foam, polyisocyanurate foam, polystyrene, aerogels, and likewise. By type of insulation, it’s reflective and bulk. By application, wall insulation, underfloor insulation, ceiling/roof insulation, and window insulation. By end-use, it’s commercial, residential, and industrial. Persistence Market Research has sketched these facts in the form of statistical data in its latest market study entitled “Building Insulation Materials Market”.
Europe holds the largest market share, with Germany leading from the front. Germany’s GDP has over 3% coming from the construction sector. As of now, over 50 projects are in the construction/planning phase. The cities holding the baton are Berlin, Stuttgart, Munich, Frankfurt, Hamburg, Cologne, and Dusseldorf. North America is growing on similar grounds. The Asia-Pacific is led by India, China, and several countries in the Southeastern area. Persistence Market Research has etched these facts with futuristic vision in its latest market study entitled “Building Insulation Materials Market”.
Persistence Market Research has mentioned the key players in the building insulation materials market as BASF SE, Dow Inc., GAF Materials Corporation, Knauf Insulation, Saint-Gobain SA, Glasscock Insulation Company SAE, Rockwool International A/S, Owens Corning Inc., Lloyd Insulations Ltd., Covestro AG, Kingspan Group Plc, Beijing New Building Material, Cabot Corporation, and Johns Manville.
Persistence Market Research has also mentioned the developments on this count. For instance – Owens Corning, in July 2021, did announce that it had acquired Vilepa GmbH. This combination did expand the former’s portfolio of nonwovens for accelerating growth and strengthening the offerings to the market for Europe. Saint-Gobain, in September 2020, went on records to announce the acquisition of Strikolith, a company based out of The Netherlands. The latter is known to specialize in the manufacture of interior finishing, external insulation systems, and renovation products/solutions.
Going further, Johns Manville, in September 2020, broke ground for building a polysio production plant at Hillsboro (Texas). This expansion is expected to touch the finishing line by mid-2022. Paroc, in September 2020, did become one of the front runners in Finland with regards to launching a recycling system for stone wool. This REWOOL system lets off-cuts of the stone wool be reused effectively, thereby fulfilling the criterion of carbon neutrality. DuPont, in July 2020, did announce launching reduced GWP (global warming potential) Styrofoam Brand Insulation. Starting on January 1, 2021, this insulation family is bound to include lower GWP options.
The Way Ahead
The global building insulation materials market is all set to witness robust growth in the next 10 years – Persistence Market Research