The global insulation market size is expected to reach USD 102.46 billion by 2030, registering a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rapid urbanization industrialization and rising population in developing countries are estimated to boost the market growth in the projected period. Government initiatives to promote energy efficiency and sustainable development through insulation technologies are estimated to fuel the product demand from the industrial end-use segment. Initiatives through the Weatherization Assistance Program (WAP) by the U.S. government through federal funding to encourage the use of thermal insulation in low-income households are likely to drive the market growth in the North America region.
Strict insulation codes and laws effectuated by the European regulatory authorities have increased awareness about rising energy costs and the need for energy efficiency. The demand for industrial insulation is also estimated to exhibit high growth owing to the growing thermal energy production, which calls for the extensive need for insulation to maximize efficiency. In addition, the market in the U.S. is expected to benefit from recovering nonresidential building construction expenditures, particularly in the office and commercial segments. The rising awareness levels regarding environmentally friendly construction practices are expected to propel the product demand with an aim to reduce energy consumption.
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Insulation Market Report Highlights
EPS insulation emerged as the largest product segment and accounted for a 27.3% share of the global revenue in 2023
The segment is estimated to continue its dominance over the forecast period due to the high demand for EPS on account of its lightweight and high-tensile plastic foam insulation property
Glass wool is expected to be the second-largest product segment by 2030 owing to its thermal and acoustic insulation properties, such as high tensile strength
Asia Pacific region led the market and accounted for the largest market share of 41.8% in 2023. The reason is, rising oil production in the economies of China and India and rising concerns regarding significant energy wastage coupled with the demand for materials in refurbishing and renovation.
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Insulation Market Segmentation
Grand View Research has segmented the global insulation market based on product, end-use, and region:
Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Glass Wool
Mineral Wool
EPS
XPS
CMS Fibers
Calcium Silicate
Aerogel
Cellulose
PIR
Phenolic Foam
Polyurethane
Insulation End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Construction
Industrial
HVAC OEM
Transportation
Appliances
Furniture
Packaging
Insulation Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
China
Japan
India
South Korea
Central South America
Middle East Africa
List of Key Players of Insulation Market
GAF Materials Corporation
Huntsman International LLC
Johns Manville
Cellofoam North America, Inc.
Rockwool International A/S
DuPont
Owens Corning
Atlas Roofing Corporation
Saint-Gobain S.A.
Kingspan Group
BASF
Knauf Insulation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
