Market Size of Building Insulation Materials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Building Insulation Materials Market Analysis
The global building insulation materials market is expected to register a CAGR of less than 4% during the forecast period.
Due to the impact of COVID-19, the production facilities were halted for several months as the lockdown was implemented, and the supply chain was splintered. However, the market recovered in the 2021-22 period, owing to rising consumption from end-user industries, especially the residential sector. Over the past two years, a rise in home sales, the beginning of new projects, and the demand for dormitories and hotels have driven the market's recovery.
- The growing demand for energy efficiency, rising infrastructure, and industrialization in the Asia-Pacific region are the main factors anticipated to boost the demand for building insulation materials.
- Harmful effects caused by building insulation material on exposure to high-temperature are likely to hamper the market's growth.
- The use of organic products for insulation will likely provide new growth opportunities for the market.
- Europe dominated the building insulation materials market. Asia-Pacific is forecasted to be the fastest-growing market due to the increasing consumption of countries such as China and India.
