The thermal insulation material market is projected to reach USD 70.74 billion by 2023, rising to USD 122 billion by 2033, with an expected growth rate of 5.6% CAGR. Effective insulation of all building partitions is key to reducing energy consumption. Common thermal insulation materials, including polyurethane foam, mineral wool, and polystyrene foam, provide both acoustic and thermal insulation.
Thermal insulation materials are evaluated based on their thermal conductivity (lambda), which measures their effectiveness as insulators and energy efficiency.
Recent developments include a new non-toxic insulation material designed to reduce noise and thermal transfer in building construction. Created by engineers at the University of Maryland, this material is derived from natural substances, making it environmentally friendly. Known as Insulwood, it is produced from lignin and hemicellulose found in wood, rather than traditional toxic or petroleum-based materials.
Other advancements include eco-friendly insulation developed by ORNL scientists. This material, made from hollow glass spheres and expandable polymer microspheres, is free of harmful chemicals and is easily adopted across various insulation systems.
Key Takeaways
- Increased urbanization and active construction projects are driving demand for thermal insulation materials.
- Growing consumer awareness of energy consumption and cost reduction is boosting market growth.
- Government regulations and initiatives aimed at enhancing energy efficiency and sustainability support market expansion.
- Advances in smart technologies and energy-efficient building practices are expected to drive market growth.
- Significant investments in the construction industry in India are further propelling demand for thermal insulation products.
Competitive Landscape
- Strategic partnerships are emerging between technology firms and thermal insulation material manufacturers to expand product lines, technology capabilities, and market presence.
- Companies are investing in research and development to innovate and improve products, with new product launches serving as a competitive advantage.
Key Companies Profiles
- Asahi Kasei Corporation
- BASF SE
- I. du Pont de Nemours and Company
- Rockwool International A/S
- Berkshire Hathway (Johns Manville)
- Bayer AG
- Owens Corning
- Dow Chemicals Company
- Kingspan Group PLC
- Saint Gobain S.A.
Key Segments Profiled in the Thermal Insulation Material Industry Survey
Material Type:
- Stone Wool
- Fiber Glass
- Plastic Foam
- Others
Temperature Range:
- -160°C to -50°C
- -49°C to 0°C
- 1°C to 100°C
- 101°C to 650°C
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/thermal-insulation-material-market
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