Thermal Insulation Materials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Governments worldwide are increasingly promoting energy conservation through initiatives aimed at constructing zero-energy buildings, which has spurred a growing demand for thermal insulation products globally. According to the Concerted Action for the Energy Performance of Buildings Directive (a joint initiative of EU member states and the European Commission), all new buildings in member states should comply with zero-energy standards by 2020. Similarly, energy conservation regulations have become stricter in countries like China and Japan. China's residential energy standards now require new buildings to be 65% more energy efficient than those constructed in the 1980s. Other APAC countries are also implementing stringent energy conservation regulations. For instance, the Energy Conservation Building Code (ECBC) adopted in Andhra Pradesh, India, in 2014 mandates commercial and public buildings to cut costs and reduce energy use by 40%-60%.

Global Thermal Insulation Material Market Analysis by Material Type

Plastic Foam Segment: Leading the Growth

The plastic foam segment is expected to exhibit the highest growth rate in the global thermal insulation material market during the forecast period, registering moderate annual growth. This segment's demand is notably higher in the Asia Pacific region, where it is projected to see robust growth by the end of the forecast period. The growth of the plastic foam segment is anticipated to be driven by the increasing global demand for liquefied natural gas (LNG) and liquefied petroleum gas (LPG), as well as a surge in the demand for refrigerators and air conditioners in the OEM market.

Fibreglass Segment: Steady Growth

The fibreglass segment is also expected to see moderate annual growth, closely mirroring the growth rate of the plastic foam segment. This trend is likely to continue throughout the forecast period, supported by the rising demand for fibreglass thermal insulation materials in North America and Europe. Market associations in these regions are expected to bolster the growth of this segment. Additionally, the increasing number of supermarkets and the growing demand for packaged food are anticipated to further boost this segment's growth.

Others Segment: Emerging Growth Opportunities

The "others" segment, which includes materials like cellular glass, slag wool, and other mineral materials, is expected to see a sluggish increase in revenue by the end of the initial forecast period. However, moderate growth is anticipated between 2017 and the end of the forecast period. The expansion of this segment is expected to be driven by the rising number of floating production storage and offloading (FPSO) and floating storage regasification units (FSRU) plants in China, South Korea, and Japan.

Manufacturers Focus on Lightweight Thermal Insulation Materials

Innovations in Material Performance and Installation Efficiency

Key manufacturers of thermal insulation materials are prioritizing the enhancement of material performance. Application-specific materials are being designed to reduce assembly and installation time by minimizing material thickness. Reduced thickness materials offer benefits in handling and improve the load-bearing capacity of building structures, enabling more efficient architectural designs.

Demand for Lightweight Insulation in OEM Market

Original equipment manufacturers (OEMs) are increasingly demanding lightweight thermal insulation materials like plastic foam to ensure the lighter weight of end-products. For example, heavier insulation materials used in refrigerators increase labor costs for installation, whereas lightweight materials require less effort and time for installation. As a result, lightweight thermal insulation materials are becoming the preferred choice for manufacturers focused on complex and high-quality product designs.

Trends in Miniaturization and Performance Optimization

A notable trend in the industry is the miniaturization of products without compromising on performance parameters. This trend makes lightweight products a preferred choice for manufacturers aiming to create complex and high-quality end product designs. The focus on lightweight materials not only enhances product performance but also offers logistical advantages, making them a crucial component in modern building and product designs.

The global push for energy conservation is significantly impacting the thermal insulation material market. Governments' initiatives to promote zero-energy buildings and stringent energy conservation regulations are driving the demand for innovative and efficient insulation materials. The plastic foam segment is leading the market growth, particularly in the Asia Pacific region, supported by rising demands in the LNG, LPG, and OEM markets. The fibreglass segment is also poised for steady growth, bolstered by market associations and increased demand in North America and Europe.

As manufacturers continue to innovate and focus on lightweight materials, the thermal insulation material market is set to experience significant advancements. The trend towards miniaturization and performance optimization will further enhance the market's growth prospects. With a global emphasis on energy conservation and sustainable building practices, the thermal insulation material market is well-positioned for robust growth in the coming years.

Key Industry Players:

• Saint-Gobain S.A.
• Kingspan Group
• Dow Chemicals Company
• Asahi Kasei Corporation
• BASF SE
• Owens Corning
• Bayer AG
• E. I. du Pont de Nemours and Company
• Rockwool International
• Berkshire Hathaway (Johns Manville)
• Others

Market Segmentation:

Material Type

• Plastic Foam
• Stone Wool
• Fibreglass
• Other

Temperature Range

• -160?C to -50?C
• - 49?C to 0?C
• 1?C to 100?C
• 101?C to 650?C

Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Middle East & Africa
• Japan

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