Global Building Thermal Insulation Market - Forecast to 2027
The global building thermal insulation market will grow to $35.3 billion by 2027, a CAGR of 4.7 percent from $8 billion in 2022. The use of building thermal insulation has witnessed significant growth because of the increasing requirement for improved heating and cooling comfort and better fire resistance of building thermal insulation materials, such as glass wool, stone wool and plastic foams. The key factors driving the building thermal insulation market are the recovery in new construction of residential and non-residential buildings worldwide.
By material, the building thermal insulation market is classified into glass wool, stone wool, plastic foam and others. Plastic foam is estimated to dominate the market during the forecast period due to its increasing use in external façade insulation, external wall insulation, sandwich panels and cavity wall insulation. The higher compressive strength and energy efficiency of plastic foam, especially EPS foam, is estimated to drive its demand in building thermal insulation.