Published on : Apr 22, 2021
Albany, New York, April 22, 2021: With increasing regulations by the governments of numerous countries for encouraging net-zero carbon future, the construction industry is inclining toward sustainability, thus bringing the building thermal insulation material market in the limelight. Growing prominence of better-performing construction materials among real estate developers is proving to be a beneficial factor for the building thermal insulation material market. This report on building thermal insulation sector market for the forecast period of 2015-2026 studies various factors that influence the growth rate of the building thermal insulation sector. Based on type, the building thermal insulation material market can be classified into PU panels, EPS panels, mineral wool panels, XPS panels, and others.
The report on the building thermal insulation material market offers in-depth analysis through considerable research across various parameters such as competitive landscape, key trends, and current scenario. The report will also focus on the ongoing COVID-19 pandemic and its effect on the building thermal insulation material market. This report will prove as a boon for the business owners and market shareholders in this sector to a large extent.
Sustainability is becoming the essence of the growth of the building thermal insulation material market. The advent of favorable building codes across the globe such as the U.S. Green Building Council (USGBC) and Leadership in Energy and Environmental Design (LEED) are turning out to be positive influencers for the use of building thermal insulation material.
Government initiatives and regulations supporting energy conservation are also proving to be growth accelerators for the building thermal insulation material market. For instance, the Ontario Green Home Renovation Program offer rebates to the homeowners on their completion of energy-efficient renovations. The government of India also launched ECO Niwas Samhita, an Energy Conservation Building Code for Residential Buildings (ECBC-R). The prime objective of this initiative is to promote energy efficiency in design of residential and commercial buildings. Public-private partnerships following strict codes implemented by the government for construction activities are also propelling the building thermal insulation material market.
Recyclable insulation is gaining prominence to a great extent. The use of recycling materials such as aerogel and cellulose combined with the development of fire-resistant and lightweight materials such as plastic foam may further steer the building thermal insulation material market toward growth.
Manufacturers in the building thermal insulation material market are focusing on increasing the efficiency of materials through various research and development activities. Materials designed for a specific application is gaining considerable momentum.
The building thermal insulation material market may undergo a sustainable transformation in the forecast period. As the world tackles the climate change pandemic, the construction industry is marching toward sustainable materials such as seaweed, reeds and rushes, etc. Seaweed serves as a ready renewable material that's easy in terms of processing and its effectiveness is as good as conventional insulation. Hence, the building thermal insulation material market may embrace such trends in the upcoming period.
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Mergers and acquisitions are the foundations for the growth of the building thermal insulation material market. The acquisition of Buitex Industries by Saint Gobain for expanding its range of multi-material insulation solutions is a classic example. Expansions to capture regional markets will likely gain traction across the forecast period. Owens Corning announced the establishment of a new facility in the U.S. for manufacturing thermafiber mineral wool insulation for various applications.
Technology is making substantial inroads in the building thermal insulation material market. Products featuring soundproofing and improved thermal properties coupled with easy installation methods are further providing the much-required boost to the building thermal insulation material market. The need for temperature control in commercial shops for providing a pleasurable shopping experience is also proving to be a growth multiplier.