Global Insulation Market Size to worth USD 129.99 Billion by 2033: Forecast Analysis Report

Global Insulation Market Size to worth USD 129.99 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Insulation Market Size is Expected to Grow from USD 66.01 Billion in 2023 to USD 129.99 Billion by 2033, at a CAGR of 7.01% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Insulation Market Size, Share, and COVID-19 Impact Analysis, By Product (Fiberglass/Glass Wool, Mineral Wool, Plastic Foam, and Others), By Application (Residential Construction, Industrial, HVAC & OEM, and Non-Residential Construction), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.  

Materials used to slow down heat transfer or sound transmission between spaces are referred to as insulation. In buildings, automobiles, and other applications, insulation materials are crucial for regulating temperature, improving energy efficiency, and providing soundproofing. The construction industry's growth and global energy conservation regulations are driving the demand for insulation products. Insulation helps reduce infrastructure costs and energy consumption, driving market growth. The increasing use of insulation in automobiles, particularly in sound absorption and noise reduction, is also driving demand. The insulation market is expected to grow due to its excellent properties and increasing usage in emerging economies. Various programs are being implemented by governments worldwide to boost the insulation sector, with an emphasis on sustainability and energy efficiency. A Strategic Plan for Enhancing Energy Efficiency Across Demand Sectors by 2030 has been introduced by India's Bureau of Energy Efficiency (BEE). Enhancing energy efficiency in the transportation, industrial, residential, and service sectors is the goal of this plan. The government is also encouraging the adoption of sustainable insulating materials to lower energy use and carbon footprints. However, the global insulation market's growth is expected to be hindered by factors such as fluctuating raw material prices, the rise of green products, and building material conformity.

The plastic foam segment is predicted to hold the largest market share through the forecast period.

Based on the product, the insulation market is classified into fiberglass/glass wool, mineral wool, plastic foam, and others. Among these, the plastic foam segment is predicted to hold the largest market share through the forecast period. Plastic wool insulation is becoming more and more popular because of its excellent heat resistance, low cost, and low susceptibility to insects and moths. Its demand may also be increased by environmental sustainability concerns and the quick expansion of recycled materials.

The residential construction segment is anticipated to hold the largest market share during the projected timeframe.    

Based on the application, the insulation market is divided into residential construction, industrial, HVAC & OEM, and non-residential construction. Among these, the residential construction segment is anticipated to hold the largest market share during the projected timeframe. The strong economy and steadily rising disposable incomes may lead to more housing projects, which could open up new growth opportunities for the sector. These expenditures could encourage the residential sector to adopt the product, especially when combined with the stringent government regulations aimed at ensuring adequate insulation and construction codes.

Asia Pacific is estimated to hold the largest share of the insulation market over the forecast period.

Asia Pacific is estimated to hold the largest share of the insulation market over the forecast period. Rapid urbanization, industrialization, and population growth are predicted to cause the Asia Pacific region to grow significantly, raising living standards and expanding infrastructure. China, India, and Japan's governments prioritize improving roads and infrastructure, potentially altering market dynamics and promoting energy-efficient insulation products.

Europe is predicted to have the fastest CAGR growth in the insulation market over the forecast period. It is anticipated that the regional market will be an early user of developing insulation materials due to the continent's increasing industrialization and the existence of significant insulation product producers.

Company Profiling

Major key players in the insulation market include BASF SE, Saint-Gobain S.A., Rockwool International, Owens Corning Corporation, Kingspan Group PLC, Huntsman Corporation, DowDuPont Inc., Knauf Insulation, Johns Manville Corp., Evonik Industries AG, Covestro AG, Sika AG, Eastman Chemical Co., Arkema SA, Masco Corp., GAF Materials Corporation, Fletcher Building Ltd., Wanhua Chemical Group Co. Ltd., Clariant AG, and Beijing New Building Material (Group) Co. Ltd., and Others.  

Recent Development

• In May 2024, the latest product in Mannok's wide range of insulation was introduced. Mannok is a prominent manufacturer of building materials. In order to satisfy the increasing need for high-performance, energy-efficient insulation solutions in the building sector, the most recent invention was created. Better heat retention and lower building energy consumption are guaranteed by the new insulation product's improved thermal qualities. Mannok's dedication to environmental responsibility is also shown in the use of sustainable materials and manufacturing techniques. This revolutionary insulation solution from Mannok has the potential to revolutionize the market with its cutting-edge features and dedication to innovation, accelerating the shift to more environmentally friendly and energy-efficient building practices.

• In May 2024, the novel HVAC fiberglass insulation product line, Knauf Performance+, has been introduced by Knauf Insulation, Inc., a well-known family-owned fiberglass insulation manufacturer worldwide. An excellent option for enhancing indoor air quality in homes and businesses, this innovative product line stands out for being the first of its type to be certified asthma and allergy-friendly.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the insulation market based on the below-mentioned segments:

Global Insulation Market, By Product 

• Fiberglass/Glass Wool
• Mineral Wool
• Plastic Foam
• Others

Global Insulation Market, By Application

• Residential Construction
• Industrial
• HVAC & OEM
• Non-Residential Construction

Global Insulation Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa