Thermal Insulation Market: By Material (Glass Wool and Stone Wool Plastic Foam), By Application (Roof Insulation, Floor Insulation, and Wall Insulation), By End User (Residential and Non-Residential), and Geography.

Thermal Insulation Market was valued at USD 28.6 billion in 2022 and is expected to reach USD 35.6 billion by 2029, growing at a 7.2% CAGR from 2024 to 2030. Thermal insulation refers to ways of inhabiting the transfer of heat from one object to another through a material called a thermal insulation panel which is mounted on a roof, wall, and floors. Building thermal insulation is used to reduce the penetration of heat and cold to minimize the climate effectiveness inside the residence. The adoption of the green building concept increased demand for solar power and insulation technology in the residence to lower the temperature, the insulation panel demand is increasing continuously which is the major factor that drives the market.

Shifting towards thermal insulation saves energy and power and increases insulation material demand in the market, residential and non-residential buildings installing insulation material at the time of construction, it is predicted that high adoption of insulation techniques create various opportunities in the thermal insulation market. The polystyrene used in the insulation is a type of plastic formed from an aromatic synthetic hydrocarbon gas called styrene which is the major hindrance in adopting greenhouse, also restraints for the growth of thermal insulation market. the major challenge in the market comes from a lack of awareness of building thermal insulation, this results lack of proper insulation in commercial buildings. 

Thermal Insulation Market Key Developments:

• In September 2022, GAF expand commercial Roofing Operations into Georgia with a New TPO Manufacturing Plant. GAF is committed to ensuring that our commercial roofing customers receive the highest quality service and adding another manufacturing plant in Georgia will help ensure that our customers get the GAF products.
• In March 2022, Knauf Gips Kg officially opened a new glass mineral wool thermal insulation recycling facility with an investment of USD 12.5 million in vise, Belgium, for an exciting new recycling service for the construction industry.