North America Building Thermal Insulation Market Analysis Report By Product, By Application, By End-Use, By Region And Segment Forecasts From 2016 To 2025

Industry Insights

The North American building thermal insulation market size was worth USD 7.09 billion in the year 2015. Increasing insulation requirements in commercial and residential applications on account of the rising cost of energy are anticipated to surge the need for manufacturing thermal insulation materials in this region. Government initiatives for sustainable development and energy efficiency through insulation technologies are also expected to drive market growth.

Government initiatives in the U.S. through the Weatherization Assistance Program (WAP) to increase thermal insulation with federal funding are predicted to surge the market growth. Funding by the U.S. Dept. of Energy to create advanced insulating phenolic insulation foams is poised to drive the demand thus, increasing industry growth.

The National Energy Code of Canada for Buildings Code (NCEB 2015) offers the utilization of these insulation materials for light-heated buildings. The Mexican government is supported by SE4AII Building Efficiency Accelerator (BEA) to deploy a national building energy code in order to employ a rigid base for developing buildings in the country to ensure energy efficiency.

The existing market participants that play a key role in supporting the market growth in the U.S.-Canadian government are on the verge of enhancing policies relating to efficient buildings. Limitations regarding a precise regulatory structure in Mexico are expected to pose a challenge for growth.

The North American regional market of thermal insulation is mature and can be regarded to be a regular contributor. The market has observed slow and steady growth in the majority of the application divisions. Insulation products have been in a demand for a long time in this region, and therefore, the market is price sensitive.

Product Insights

Glass wool building held a market share of 44.3% in terms of volume in 2015. It lowers energy consumption and temperature fluctuations and is regarded as an economical product present in the market. The segment is expected to register a CAGR of 3.7% from 2016 to 2025.

Expanded polystyrene held a share of 23.5% based on volume in 2015. The segment is poised to grow by 1.5% by volume. EPS has outstanding thermal insulation characteristics and long durability. It is expected to grow at the highest CAGR over the forecast period.

Application Insights

Roof thermal held a market share of 34.8% based on volume in 2015. It is further expected to grow at a CAGR of 4.1% during the forecast period. Roofs are the vital source of heat that is needed to be precisely insulated for better overall results.

The wall division was worth USD 2.78 billion in 2015 and is likely to be the leading among all. The presence of numerous single-unit individual residences in the country is likely to augment growth. Many individual houses in the U.S. are around 20-25 years old back in the times when thermal insulation wasn’t popular, therefore, refurbishment of these residences will have a positive impact on the industry in this region.

End-Use Insights

Residential construction grew as the largest segment with a share exceeding 50% of the overall North America building thermal insulation market based on revenue in 2015. Reimbursement of the residential real estate sector in North America along with rising expenditure on construction in Mexico is anticipated to grow and the residential construction category is projected to acquire a share of 1.0% by 2025due to the rising demand in residential buildings to minimize energy consumption.

The non-residential segment held a share of nearly 48% of the overall market revenue in 2015. The growing need for energy efficiency in public and commercial buildings due to high energy expenses resulting in higher maintenance costs is poised to accompany growth in the near future. The requirement for thermal insulation materials was 2.77 million tons in non-residential construction in 2015.

Regional Insights

The U.S. is expected to be at the forefront of the market. The resurgent building construction projects in the country will drive the demand, complemented by the implementation of stringent building codes like the International Energy Conservative Code (IECC), which is predicted to promote higher insulation adoption per structure. Moreover, the country has laid down regulations relating to deploying current buildings highly energy-efficient. The market demand in the country was worth USD 5.62 billion in 2015.

The extreme climatic conditions in Canada are expected to play a vital role in opening a new avenue for industry growth. The government of Canada has implemented laws relating to the materials to be utilized in deploying thermal insulation materials. The primary motive of these regulations is to prevent the use of materials that harm the ozone layer. The region is expected to grow at a CAGR of 3.7% over the forecast period.

North America Building Thermal Insulation Market Share Insights

The major participants include Owens Corning Corp., Dow Building Solutions, Johns Manville Corporation, CertainTeed Corporation, Huntsman International LLC, etc.

The market is established with no player occupying the major market share. The key players emphasize their strategic motives for targeting precise applications and increasing sales for utilizing their competitive capabilities. The environmental influence of insulation materials is expected to divert the market focus on creating eco-friendly products.

Report Scope

Segments Covered in the Report

This report forecasts volume & revenue growth and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the North American building thermal insulation market on the basis of product, application, end-use, and region:

• Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
    • Glass Wool
    • Mineral Wool
    • EPS
    • XPS
    • Others

• Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
    • Roof
    • Wall
    • Floor

• End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
    • Residential
    • Non-Residential

• Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
    • North America
    • U.S.
    • Canada
    • Mexico