According to the research report titled ‘Global Building Insulation Market 2021-2028’, available with MarketStudyReport, global building insulation market is expected to grow at a CAGR of 3.06% and 2.59% in terms of revenue and volume, respectively, over the forecast timeframe 2021-2028.
 

As per report findings, increasing modernization of old buildings, growing inclination towards eco-friendly construction, as well as favorable government directives are significant drivers of worldwide building insulation market growth.
 

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Furthermore, new opportunities in construction industries are likely to enhance the market outlook in the upcoming years. On the contrary, fluctuating raw material costs and labor scarcity may hamper the market expansion throughout the forecast period.
 

Based on end-user, the market is split into residential and commercial. Considering application scope, the industry is fragmented into floor, wall, ceiling & attic, and others. Moving on, the material segmentation comprises wool insulation, and plastic foams.
 

From regional perspective, the geographies assessed in global building insulation market report are North America (U.S., Canada), Europe (UK, Germany, Spain, France, Russia, Italy), MEA (South Africa, Turkey, Saudi Arabia, UAE), Asia Pacific (Japan, China, South Korea, India, Australia, New Zealand), and Latin America (Mexico and Brazil).
 

Among the above-mentioned regions, North America has the largest market share and is expected to maintain an upward growth trend throughout the projected period. The regional market’s rapid expansion is attributed to the developing cognizance and acceptance of sustainable construction practices that minimize greenhouse gas emissions. Moreover, increasing demand for building insulation from various end-users such as residential and commercial will further propel the industry expansion.
 

Considering the competitive aspect, Rockwool International A/S, Compagnie de Saint-Gobain S.A, Johns Manville Corp., Owens Corning, Beijing New Building Material Co. Ltd, Dow Chemical Co., Kingspan Group, GAF Materials Corp., BASF, Paroc Group Oy, Huntsman Corp., and Knauf Insulation Inc. are among the major companies influencing the global building insulation market trends.
 

Industry players are actively pursuing new product development and launches for catering to various end-use sectors. Apart from this, product capacity expansion, partnerships, mergers, and acquisitions will likely continue to play an important role in the forthcoming years.