DUBLIN--(BUSINESS WIRE )--The "Global Building Insulation Market (by Type, Application, End-User & Region): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)" report has been added to ResearchAndMarkets.com's offering.
The global building insulation market is expected to record a value of US$36.70 billion in 2026, progressing at a CAGR of 5.45% for the period spanning 2022-2026.
Factors such as expanding building & construction industry, increasing emphasis on controlling greenhouse emissions, rising urbanization, growing focus on energy conservation and supportive government policies and initiatives would drive the growth of the market.
However, the market growth would be challenged by volatility in raw material prices, high initial investment cost, lack of awareness and health concerns regarding the adoption of few building insulation products. A few notable trends include surging renovation activities of old buildings, emerging inclination towards green building concept, rising energy costs and escalating demand for eco-friendly insulating material.
The global building insulation market has been segmented on the basis of type, application and end-user and platform. In term of type, the global market can be bifurcated into Foam, glass wool, stone wool and others. Depending on application, global building insulation market can be categorized into Wall insulation, roof insulation and floor insulation. Whereas, according to the end-user, the global building insulation market can be divided into residential and non-residential segments.
The fastest growing regional market was Europe due to rising number of initiatives introduced by the government to minimize carbon footprints of buildings, surge in commercial and residential buildings, and the profitable growth opportunities within the building thermal insulation material industry. Further, the outbreak of COVID-19 pandemic negatively influenced the market growth during 2020 due to halted construction activities and disruptions in the supply chain of building insulation materials.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900