Market Segmentation
The U.S. construction industry is experiencing growth on account of increasing residential and non-residential renovation and new construction activities. Growth in the construction industry is anticipated to propel the demand for thermal insulation in buildings across forecast period. Residential construction sector in the U.S. is witnessing boom, with single-family dwellings being the key growth contributor. The key reasons behind the growth of residential sector in the country include increasing population and life expectancy along with strong economic condition. Growing consumer demand for innovative buildings with modern technologies, improved aesthetic appeal, and better energy efficiency is expected to drive demand for thermal insulation in residential construction over the forecast period. The non-residential construction in the U.S. also witnessed growth over the past few years and this trend is expected to continue over the projected period. Office construction activities are expected to be driven by improved employment conditions of the country. The growth of the commercial construction sector in the U.S. is, therefore, likely to amplify the demand for thermal insulation in buildings over the forecast period.
Building thermal insulation systems are expected to gain wide acceptance in North America owing to its several benefits such as lightweight materials, improved external appearance, and acoustic performance of the buildings. Increasing demand for energy-efficient buildings, owing to the stringent government regulations and rising awareness regarding environmental degradation, is anticipated to fuel the demand for thermal insulation for residential, non-residential, commercial, and industrial buildings. A study by the U.S. EPA estimated that proper insulation in a building could save up to 20% of heating and cooling costs. Growing government initiatives across the globe including labor training and monetary aid are likely to propel the industry growth In addition, favorable building codes in the U.S. and Canada coupled with the establishment of energy certification agencies such as LEED and U.S. Green Building Council are expected to have a positive influence on the market growth.
The blowing agents employed in the insulation industry contain ozone depleting substances and are a serious environmental concern. These blowing agents that are employed in various insulation materials such as PU foams, phenolic foam, EPS, and XPS contain hydrofluorocarbons (HFC), carbon dioxide, and pentane are considered as major greenhouse gasses. Stringent government regulations across the globe is projected to limit the manufacturing of the product and propel the use of environmentally friendly raw materials. This trend is projected to limit the demand for traditionally used raw materials for the production of building thermal insulation.
This section will provide insights into the contents included in this North America building thermal insulation market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance