Thermal insulation material is used across industries to reduce energy consumption by maintaining the required temperature in the particular area. Due to extensive usage of thermal insulation material in the buildings the demand is growing rapidly which led to the growth of the thermal insulation material market during the forecast period. According to the study, ‘Europe Building Thermal Insulation Materials Industry Situation And Prospects Research’ suggests that some of the major companies which currently operating in this sector with more advance technology and improve policies includes Saint-Gobaim S.A., BASF SE, Owens Corning, Kingspan Group PLC, Johns Manville Corporation, RockWool International A/S, Paroc Group Oy, Gaf Materials Corporation, Bejing New Building Material (Group) Co., Ltd., Knauf Insulation, Inc., Aspen Aerogels, Inc., Atlas Roofing Corporation, Cabot Corporation, Cpvestro Ag, DOW Corning Corporation, Firestone Building Products Company, Fletcher Building Limited, Huntsman Corporation, KCC Corporation, Lapolla Industries, Inc., Nichais Corporation, Ode industry and Trade Inc., Recticel SA, Trocellen GmbH, Ursa Insulation, S.A. Moreover, increasing concern about environment is expected to be a key opportunity for the growth of the building thermal insulation material during the forecast period.
Building thermal insulation materials are the building material which forms the building envelope which is a physical separator between the conditioned and unconditioned environment of a building. Building thermal insulation materialis used to hamper the passing of heat energy between two ends of which are differing in temperature. There are three methods of heat transfer such as radiation, conduction and convection. Furthermore, thermal insulation materials can be segmented on the basis of material type and temperature range of the insulation material. Building thermal insulation material reduces energy costs, keeping your home warm in the winters and cool in the summer. Additional benefits of good thermal insulators include energy conservation and temperature control of surface temperatures. Whereas, the classification is done in the market on the basis of demand in the market of building thermal insulation material such as Silicate Insulation Materials, Ceramic Thermal Insulation Material, Powder Polystyrene Particles, Foamed Cement and others. Whereas applications can be split in the market on the basis of usage of the building thermal insulation materials such as industrial building, civil residence and others. Therefore, the wide demand and usage of the product will grow in the near future.
The market of thermal insulation material is still at its nascent stage. However, with the wide usage and application of the market of thermal insulation material have significant opportunities in upcoming years to grow even more. Moreover, with the wide usage key players are focusing more on the mergers & acquisitions and joint ventures to increase the market share and new development in the technology for proper usage of material. The demand for building thermal insulation material from the industrial building sector majorly due to numerous applications. Hence, with the increase in the population the usage of thermal insulation material in the civil residence has been estimated to create promising growth opportunities and new investments form the new entrants which will lead to a financial support in the market. Moreover, development in the trends also plays a significant role in the growth of the market. Therefore, the future of the market of building thermal insulation material is expected to be bright in the near future.
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Ankur Gupta, Head Marketing & Communications