According to a research report titled ‘Global Building Insulation Market 2021-2028’, available with Market Study Report, global building insulation market is projected to record compound annual growth rates of 3.06% and 2.59% in terms of revenue and volume respectively, during the forecast period 2021-2028.
 

As per the report findings, increasing renovation of old buildings, rising preference for sustainable construction activities, and strict government regulations are primary factors stimulating the worldwide building insulation industry growth. Additionally, expansion of the construction industry will continue to unlock new opportunities for growth in the upcoming years.
 

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On the other hand, unstable raw material prices coupled with shortages in labor supply are anticipated to hamper industry growth over the forecast period.
 

Based on application ambit, global building insulation market is arrayed into floor, wall, ceiling & attic, and other applications. By material type, the industry is split into wool insulation (rock, glass, slag wool), and plastic foams (polyurethane, extruded polystyrene, expanded polystyrene foams). Lastly, classifying on the basis of end-user spectrum, the segmentation comprises residential and commercial.
 

Considering the regional outlook, global building insulation market size spans across Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Among these, North America industry accounted for a substantial portion of the overall share in the recent past and is anticipated to register a strong growth rate over the study duration. This can be ascribed to factors such as growing concept of green buildings in the U.S. and Canada, and rising demand for reducing greenhouse emissions.
 

Key contenders in global building insulation market sphere are Compagnie de Saint-Gobain S.A., The Dow Chemical Company, Rockwool International A/S, Paroc Group Oy, Owens Corning, Knauf Insulation, Kingspan Group plc, Huntsman Corp., Johns Manville (Berkshire Hathaway Inc.), GAF Materials Corp., Beijing New Building Material (Group) Co. Ltd., and BASF SE.