San Francisco, 9 July 2020: The Report Building Thermal Insulation Market Size, Share & Trends Analysis Report By Product, (Glass Wool, Mineral Wool, EPS, XPS), By Application (Roof, Wall, Floor), By End Use, By Region, And Segment Forecasts, 2019 – 2025
The global building thermal insulation market size is expected to reach USD 38.95 billion by 2025, at a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Implementation of stringent regulations by various governments to reduce greenhouse gas emission is expected to have positive impact on the growth.
Factors At Play
Thermal insulation has been gaining grounds in the world, riding on many factors. Some of these factors contribute to the ever growing demand; others pose an inhibiting effect of the market.
- Environmental changes in the years have been proved to be a great booster to the demand for the materials. Stricter regulations by several countries of North America such as U.S (EPA), Canada and European countries have proved to be helpful.
- Less carbon footprintgoes a long way in saving our environment by halting the imminent danger of climate change in its path.
- Cost reductionin the energy usage, due to less energy consumption is one of the most important factors for the major shift towards the thermal insulation.
- Being recyclableadds onto the fact that these materials are pro-environment and their usage will go a long way to save Mother Nature. Increasing preference for green, biodegradable and recyclable products by homeowners, architects, and businesses, owing to increasing environmental awareness is expected to boost the growth of the market.
- High costs of certain materialsprove to be a hindering factor for the growth, as those materials are only used in the niche applications.
Access Blog of Building Thermal Insulation Market @ https://www.grandviewresearch.com/blog/building-thermal-insulation-market-size-trends
Future Scope Of The Technology
- Thermal insulation products have seen an increasing demand in temperate regions.In most of the developed countries, regulations with an onus on improving the energy efficiency and cutting down GHG emissions results in constant demand for these materials and thus the market is likely to register a steady growth in coming years.
- In regions with hot and humid conditions, the demand is limited as in these regions natural ventilation is used as an appropriate strategy to achieve thermal comfort. In context with above mentioned climatic conditions, application of thermal insulation is not widespread and thus the use of an air gap to prevent heat gain from the sun is found to be adequate. Technologies such as aerogels, evacuated panels are known to facilitate better performance, but owing to their higher costs are limited to niche applications.
Access Press Release of Building Thermal Insulation Market @ https://www.grandviewresearch.com/press-release/global-building-thermal-insulation-market
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