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Global temperature changes

Building Thermal Insulation Market to Reach USD 45 Billion by 2032

Strategic Insights

— 2 min read

The building thermal insulation market is set to experience significant growth due to increasing concerns about climate change and the need to reduce energy consumption and carbon emissions. According to the International Energy Agency (IEA), buildings account for nearly 40% of global energy consumption and approximately 33% of greenhouse gas (GHG) emissions. To mitigate this, governments worldwide are introducing strategies to decarbonize energy use, thereby boosting the demand for building thermal insulation materials.

Key Takeaways:

  • The global building thermal insulation market is expected to reach a valuation of USD 45 billion by 2032, with new government initiatives to reduce carbon footprint driving industry outlook.
  • Open-cell thermal insulation materials are expected to surpass USD 20 billion by 2032, with open-cell spray foams emerging as popular insulators due to their cost-effectiveness and durability.
  • The commercial end-user segment is poised to cross USD 12.5 billion revenues by 2032, driven by an increasing number of commercial projects in developed and developing countries.
  • Europe is expected to emerge as a hotspot for building thermal insulation companies, with the market anticipated to surpass USD 12 billion by 2032.
  • New product developments by market participants such as BASF SE, Huntsman International LLC, Johns Manville, and CertainTeed are expected to garner industry progress.
  • Building thermal insulation companies are expanding their product portfolios, with CertainTeed's addition of InsulPure Fiberglass Building Insulation being a notable example.

Statistics:

  • Buildings account for nearly 40% of global energy consumption and approximately 33% of greenhouse gas (GHG) emissions (International Energy Agency).
  • The global building thermal insulation market is expected to reach a valuation of USD 45 billion by 2032.
  • Open-cell thermal insulation materials are expected to surpass USD 20 billion by 2032.
  • The commercial end-user segment is expected to cross USD 12.5 billion revenues by 2032.
  • Europe is expected to emerge as a hotspot for building thermal insulation companies, with the market anticipated to surpass USD 12 billion by 2032.
  • New product developments are expected to garner industry progress, with CertainTeed's addition of InsulPure Fiberglass Building Insulation being a notable example.

Sources:

  • (GlobeNewswire) - Building Thermal Insulation Market is expected to cross a valuation of USD 45 billion by 2032, according to the latest research report by Global Market Insights Inc.
  • International Energy Agency (IEA) - Buildings account for nearly 40% of global energy consumption and approximately 33% of greenhouse gas (GHG) emissions.
  • Global Market Insights Inc. - Building thermal insulation industry 3600 synopsis, 2018 - 2032.
  • CertainTeed - InsulPure Fiberglass Building Insulation.

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